Trustee duties and responsibilities
In addition to being responsible for effectively managing the Fund from day to day, the board of trustees has to:
- Assess and select investments and investment managers.
- Communicate with Fund members and keep them up to date about all matters regarding their Fund.
- Make decisions about who should get the death benefits of members who have passed away.
- Help resolve any disputes by members about aspects of their Fund.
- Know and understand the rules of the Fund and be aware of any changes to the law governing the Fund.
Since this is a really big and, often complicated job, the board of trustees may sometimes call in various experts and consultants to help them make decisions about the Fund. However, the trustees always have the final say and are fully accountable to you, as a member, for the decisions and actions they take.
Click here to access the LA Retirement Fund organogram.