News

FPIF Rule Making Update

March 30, 2022

The FPIF Board of Trustees consolidated its rules and policies into a single document at its meeting on February 25, 2022. The Consolidated Rules can be found under the Policies and Publications heading on the FPIF website (link).

Four amendments to the Consolidated Rules have been posted for 1st Public Notice under the Pending Rules heading on the FPIF website (link). The amendments will be considered for a 2nd Public Notice by the Investments and Operations Committee at its meeting on April 13, 2022. Amendments approved for a 2nd Public Notice may be considered for adoption by the Board of Trustees at its meeting on April 29, 2022. Public comments are encouraged during 1st and 2nd Public Notice. Commenters are encouraged to email comments to information@ifpif.org.

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. The amendment also 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. Under the amendment, FPIF will cease transferring investment assets in kind on June 30, 2022. Beginning July 1, 2022, 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.