The Young Men's Christian Association Retirement Fund
Committee Charters
AUDIT
BENEFITS
OFFICER COMPENSATION
GOVERNANCE
INVESTMENT
OPERATIONS
Committee - AUDIT
Composition:
At least 3 members of the Board of Trustees
Responsibilities:
The Audit Committee is responsible for the audit functions of the Board to ensure complete Trustee, Management, and Participant confidence in the financial reports of the Fund, and the integrity of its leaders, including:
- Recommend to the Board the certified public accountants to be retained as the Fund’s auditor
- Review the financial statements of the Retirement Fund, the annual report of the Retirement Fund's independent, certified public accountants, and report the results thereof to the Board
- Monitor compliance with the Fund’s policy on professional conduct and conflicts of interest
- Such other responsibilities as are normally associated with an audit committee
Committee - BENEFITS
Composition:
At least 3 members of the Board of Trustees and can have non-trustee members
Responsibilities:
The Benefits Committee is responsible for all aspects of the benefits provided by the Fund that empower YMCA employees to achieve economic security, including:
- Developing policy options with regard to benefits to be provided by the Fund
- Advising the President on communications and education policy issues
- Reviewing the benefits granted by the Retirement Fund, hearing appeals of administrative decisions regarding such benefits, and reporting the results thereof to the Board
- Conduct self-evaluation of this Committee and report results to the Board
- Such other responsibilities as may be assigned by the Chairman or the Board
Committee - OFFICER COMPENSATION
Composition:
At least 3 members of the Board of Trustees
Responsibilities:
The Compensation Committee is responsible for all aspects of executive compensation and benefits that leads to the effective and efficient recruitment and retention of Management, including:
- Recommending to the Board executive compensation and benefits
- Advising the President on incentive compensation programs for executives and employees
- Performing the “intermediate sanction” review function for the Board
- Under the leadership of the Chairman of the Board, develop and oversee the annual evaluation of the President.
Committee - GOVERNANCE
Composition:
At least 3 members of the Board of Trustees
Responsibilities:
The Governance Committee is responsible for the nominating and governance functions of the Board to ensure the efficient and effective operation of the Board and its oversight of the Fund, including:
- Identifying and recruiting prospective trustees
- Coordinating Board development programs
- Identifying and cultivating emerging Board leadership
- Coordinating the quarterly and annual evaluation of the Board and trustee performance
- Reviewing Board structure and governance systems to ensure they are appropriate.
Committee - INVESTMENT
Composition:
At least 3 members of the Board of Trustees and can have non-trustee members
Responsibilities:
The Investment Committee is responsible for all aspects of investing the assets of the Retirement Fund so they grow to provide the benefits promised to YMCA employees, including:
- Performing the investment functions of the Board to the extent authorized by the Board
- Developing policy options with regard to the investment of the assets of the Fund, including the policy asset allocation
- Establishing and monitoring investment manager performance
- Monitoring compliance with Board policies on the investment of the assets of the Fund
- Delegating to the officers or employees of the Retirement Fund the authority to act in the investment and reinvestment of the Retirement Fund's assets, but not, unless specifically authorized by the Board, to contract with independent investment advisors, investment counsel or managers, banks, or trust companies
Committee - OPERATIONS
Composition:
At least 3 members of the Board of Trustees
Responsibilities:
The Operations Committee is responsible for the business aspects of Fund operations that enable the efficient investment of assets and the effective provision of benefits, including:
- Advising the President on personnel policy issues
- Advising the President on technology issues
- Developing budget policy, reviewing the annual budget prepared by the President, monitoring budget implementation
- Conduct self-evaluation of this Committee and report results to the Board
- Ensuring compliance with Board policies
