Pedernales Electric Cooperative – Board of Directors Meetings

File #: 2022-321    Version: 1 Name:
Type: Action Item/Other Items Status: Agenda Ready
File created: 8/16/2022 In control: Board of Directors
On agenda: 10/21/2022 Final action:
Title: Plan Administration Committee (PAC) Update - Michael Hansen, Drew McCorkle, CAPTRUST Advisors
Attachments: 1. PAC Board Report- 2022-321 - Final, 2. Board Fid Education - 2022-321 - Final
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Title

Plan Administration Committee (PAC) Update - Michael Hansen, Drew McCorkle, CAPTRUST Advisors

 

Other Info

Submitted By: Ericca Klein on behalf of Michael Hansen

Department: Human Resources

Financial Impact and Cost/Benefit Considerations: N/A

 

Discussion

Pursuant to Board resolutions (December 2015 and May 2020) delegating fiduciary authority and approving the Composition and Roles in the Responsibilities of and Guidelines for Appointment of Members of the Pedernales Electric Cooperative, Inc. Plan Administration Committee (“PAC”), the PAC “report[s] annually to the Board on its work for the Board’s overall monitoring of the operation of the PAC” and employee benefit plans.

 

The PAC administers the fiduciary administrative and investment decisions for PEC plans, including implementation, strategies and objectives of the PEC plans’ investments, providers and operations.