Break from the Grind May 6, 2015

SURVEY SAYS: What is your favorite childhood memory of your mother?

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But, one of my favorite childhood memories of my Mom is how she would sing all the time—when she awoke my brother and me, when we rode in the car, when she would put us to bed, and especially during the Christmas season—just about every day was filled with song.

In honor of Mother’s Day this weekend, I’d like to know, what is your favorite childhood memory of your Mom—it could be rituals, quirks, sayings or a specific event.

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You may respond to this week’s survey by 6 p.m. Pacific time today at https://www.surveymonkey.com/s/9DQXNMB.
Administration May 6, 2015

Code of Conduct Created for Public Pension Service Providers

“The code of conduct is a valuable tool to ensure that fiduciaries and plan providers are working together in the best interests of participants and beneficiaries,” says Hank Kim, Esq., NCPERS executive director and counsel.
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Public pension plans will begin asking their service providers to commit to a new set of ethical guidelines designed to protect the interests of plan participants and beneficiaries, the National Conference on Public Employee Retirement Systems (NCPERS) announced.

The NCPERS Code of Conduct for Public Pension Service Providers identifies 10 principles for service providers. The 10-point voluntary plan requires service providers to:

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  • Act in a professional and ethical manner at all times in dealings with public plan clients;
  • Act for the benefit of public plan clients;
  • Act with independence and objectivity;
  • Fully disclose to public plan clients conflicts of interest that arise that may impair the ability to act independently or objectively;
  • Act with reasonable care, skill, competence, and diligence when engaging in professional activities;
  • Communicate with public plan clients in a timely and accurate manner;
  • Uphold the applicable law, rules, and regulations governing their sector and profession;
  • Fully disclose to public plan clients all fees charged for the products or services provided to said client;
  • Not advocate for the diminishment of public defined benefit plans; and
  • Fully disclose all contributions made to entities enumerated in Schedule A that advocate for the diminishment of public defined benefit plans.

 

“Pension plan fiduciaries are obligated to make prudent, informed decisions about plan services, with an eye at all times on discouraging conflicts of interest,” says Hank Kim, Esq., NCPERS executive director and counsel. “NCPERS created this code of conduct to help fiduciaries and managers articulate strong, consistent ethical expectations for service providers across the board.”

NCPERS began developing the code of conduct about a year ago, with work originating in the Advisors Committee of the NCPERS Executive Board. As the code of conduct took shape, discussions were held with the CFA Institute, whose mission is to lead the investment profession globally by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society.

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