Item Description:
title
Approve the Charter of the Hennepin Healthcare System (HHS) Retirement Assets Committee (RAC)
end
Resolution:
body
BE IT RESOLVED, that the Hennepin Healthcare Systems, Inc. (HHS) Governing Board approves the Charter of the HHS Retirement Assets Committee.
end
Background:
HHS, in accordance with healthcare industry IRS 501(c)3 best practices, as well as for consistency in fiduciary oversight of the retirement assets of Hennepin Healthcare and its subsidiaries; Hennepin Healthcare Foundation (HHF) and Hennepin Healthcare Research Institute (HHRI), established the Retirement Assets Committee to oversee and recommend the implementation of investment strategies for ERISA and Non-Qualified plans (Plans). In accordance with the provisions of the Plans, the RAC will monitor and recommend investment decisions for the Plan in accordance with the Retirement Assets Committee Charter.
Current Request: Approve the Charter of the HHS Retirement Assets Committee.
recommendation
Recommendation from County Administrator: Recommend Approval