News

FPIF Rulemaking & Trustee Election Update

June 22, 2022

FPIF Rule Making Update

The FPIF Board of Trustees adopted five amendments to its consolidated rules at its meeting on June 17, 2022. The adopted amendments can be found under the Pending Rules heading on the FPIF website (link). The FPIF Consolidated Rules can be found under the Policies and Publications heading on the FPIF website (link).

Amendment to Chapter 10: Investment Policy

The amendment makes changes to FPIF’s Interim and Long-Term Asset Allocations.

Amendment to Chapter 9: Participating Pension Funds

The amendment makes changes to the appointment of Account Representatives to provide pension funds with more flexibility in who is appointed, and provides that requests for cash disbursements from FPIF made by the 1st of the month will be processed for payment by the 14th of the month. The amendment makes other changes.

Amendment to Chapter 8: Transition of Assets

The amendment establishes June 30, 2022 as the end of the statutory Transition Period. Beginning July 15, 2022, all transfers to FPIF will be made as cash contributions made in accordance with FPIF cash management policies. The amendment makes other changes.

Amendment to Chapter 6: Procurement

The amendment makes changes to FPIF procurement policies.

Amendment to Miscellaneous Rules

The amendment makes changes to rules pertaining to board and fund governance, as well as incorporates the Trustee Election Rules adopted by the Board of Trustees at its meeting on February 25, 2022.

 

Trustee Election

Voters will elect a Participant Trustee, a Beneficiary Trustee and an Executive Trustee in 2022. Candidate applications will be made available on June 24, 2022. The candidate applications and other information on the election can be found on the 2022 Trustee Election page found under the Member Resources heading on the FPIF website (link).

The candidate nominating petition period will begin on June 27, 2022 and end September 16, 2022. Ballots will be mailed to eligible voters on or before October 27, 2022 and must be returned by December 1, 2022.

Anyone with questions may contact FPIF staff via email at information@ifpif.org or via phone at  (630) 785-2567.