The FPIF Audit & Compliance Committee met today and approved the amendment to the Cash Management Rule and the amendment to the Cost Allocation for a 2nd Public Notice. The amendments have been posted for 2nd Public Notice on the Pending Rules page of the FPIF website (link).
The amendments may be considered for adoption by the Board of Trustees at its meeting on August 2, 2024.
Public comments are encouraged during 2nd Public Notice. Commenters are encouraged to email comments to information@ifpif.org.
2nd Public Notice - Amendment to the Cash Management Rule
The amendment to FPIF’s Cash Management Rule is being proposed to align FPIF Rules with Department of Insurance guidance that provides that monies not imminently needed to make benefit payments or cover reasonable imminent expenses must be held at FPIF.
2nd Public Notice - Amendment to the Cost Allocation Rule
The amendment to FPIF’s Cost Allocation Rule is being proposed to address the allocation of costs incurred by FPIF which should not or cannot in fairness be allocated proportionately among all Participating Pension Funds.
FPIF Rule Making Update
