IFLC’s Standards Committee System

IFLC manages teams of experts that develop and maintain standards under the Employee Retirement Income Security Act (“ERISA”) and the Uniform Prudent Management of Institutional Funds Act (“UPMIFA”).

Organized in Working Groups, the teams develop recommendations on fiduciary standards and present them to the chairperson of the sponsoring committee for consideration. A formal transmittal letter must transmit the recommendations from a committee to the chairperson.

Once the chairperson has been satisfied, consensus is sought from stakeholders to the recommendations, which then determine the disposition of the recommendations.

Working groups are currently studying issues that have significant implications for ERISA fiduciaries including the following:

  • Cybersecurity – ERISA Benefit Plans Committee
  • Conflicts of Interest and Best Interest Contract Exemption (“BICE”) rule – Investment Advice Standards Committee
  • Certification Programs Review – Vendor Evaluation Committee
    Join IFLC and become part of an IFLC standards committee where you’ll make your mark for a better future for America’s workers and donors to charitable organizations.