Information Sheet for Technical Committee Applicants...
Pension Plan SponsorsJoin the Technical Committee!
The Organization
The Investment Fiduciary Leadership Council is known throughout the world as IFLC. It is a membership organization whose mission is to advance the quality of the stewardship of assets under the care of pension plans, endowments, foundations, and private trusts. IFLC accomplishes its mission worldwide by providing and advocating consensus practices, standards, research, training, and education.
Technical Committee Membership
IFLC's Task Force on ERISA Fee Disclosure and Conflicts of Interest is balanced to include volunteers from a range of interests and backgrounds representing every category of stakeholders in the ERISA pension plan community.
As a technical committee member, you would have the privilege of taking an active role in the development of fiduciary practices and standards. Before applying for membership, please familiarize yourself with the general rules of membership shown below under the heading Description of Committee Membership.
Description of Committee Membership
Voting Members.
A person may be appointed by IFLC as a voting Member in one of the following categories:
- An Organization's Representative, appointed as a representative of an enterprise that sponsors a retirement plan, who has the authority to speak for the organization on a technical committee;
NOTE 1: This type of membership is a preferred method to secure representation of interested groups.
NOTE 2: The word "Organization" indicates a for profit business, a non-profit entity, association, society, or other group with a demonstrated ability to represent a broad spectrum of groups or individuals.
- A representative of an active IFLC task force.
- A Personal Member who may be any person, regardless of association, business, or service affiliation, especially qualified to serve. Such members shall be appointed on the basis of their personal qualifications; although, for purposes of balance, their business interests and affiliations shall be considered.
Alternates.
Any member may have an alternate whom they appoint from their Organization. An Organization shall not have more alternates than representatives.
Restricted Voting Members.
IFLC may appoint a member having an interest in only a portion of the scope of the work of a technical committee with voting privileges restricted to that portion of the scope.
Member Emeritus.
IFLC may appoint a member as a Member Emeritus without voting privileges. The position of Member Emeritus is to recognize long-standing members who can no longer actively attend task force or technical committee meetings, but whose unique expertise and past contributions warrant special recognition.
Nonvoting Members.
A person may be appointed as a Nonvoting Member if IFLC feels that such an appointment serves a useful purpose. Nonvoting Members may serve in an advisory, corresponding, liaison, or Member Emeritus capacity, or as a committee Secretary.
Qualifications for Appointment to an IFLC Technical Committee
- Must be a current member of the Investment Fiduciary Leadership Council.
- Must possess personal experience and training relevant to the work of the committee.
- Should have the ability to participate in all committee meetings and actively participate in the work of the committee.
- Could be limited to the size of the technical committee in IFLC's effort to maintain a manageable working group.
- Must be able to maintain a balance with the work of the committee among all of an appointee's affected interests.
Each application will be reviewed and acted on by the IFLC Standards Council at one of its three yearly meetings. Notification from IFLC will be forthcoming to each applicant following the Standards Council's review.
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