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Fiduciary Responsibility: Duties, Responsibilities and Worst Case Scenarios

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Date Published

November 14, 2018

Publisher

Illinois Association of Fire Protection Districts

Subjects

Pension Administration

Questions

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Summary

This program is brought to you in partnership with the Illinois Fire Sprinkler Coalition, who would like to congratulate the Central Stickney Fire Protection District on adopting a model code that included fire sprinkler protection for residential occupancies such as single-family homes, townhomes and multifamily.

Please visit homelifesafety.com to learn more.



Part 1
Fiduciary Duty 101
Serving on the board of a pension fund comes with significant responsibilities. Chief among them is the duty to act as a fiduciary. This presentation will explain what exactly “fiduciary” means, what that duty entails, and what steps trustees should take to ensure they are preserving the trust of the pension members. In addition to general best practices, the presentation will also detail specific requirements of the Illinois Pension Code for fiduciaries.

Part 2
When What Can Go Wrong, Goes Wrong: Fiduciary Dilemmas
Acting as a fiduciary might seem like common sense: avoid conflicts of interest and manage funds prudently. Those rules have many nuances, though, which can lead to mistakes, resulting in pension fund trustees getting in trouble. This presentation will highlight examples of fiduciary breaches in Illinois, focusing on what went wrong and what the consequences were. The presentation will also provide advice to avoid similar situations in your pension fund.

2 Hours of Continuing Education available for those who qualify.

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Presenters

Ryan R. Morton
Associate - Ottosen Britz Kelly Cooper Gilbert & DiNolfo, Ltd.

Ryan R. Morton is an associate with the law firm of Ottosen Britz Kelly Cooper Gilbert & DiNolfo, Ltd. in Naperville. He... Read More

John E. Motylinski
Associate - Ottosen DiNolfo Hasenbalg & Castaldo, Ltd.

John E. Motylinski is an associate attorney with the law firm of Ottosen DiNolfo Hasenbalg & Castaldo, Ltd. Mr.... Read More

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Program Titles and Supporting Materials

This program contains the following components:

Fiduciary Responsibility: Duties, Responsibilities and Worst Case Scenarios - Video
Fiduciary Responsibility: Duties, Responsibilities and Worst Case Scenarios - Paper
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Credit

If applicable, you may obtain credit in multiple jurisdictions simultaneously for this program (see pending/approved list below). If electing credit for this program, registrants in jurisdictions not listed below will receive a Certificate of Completion that may or may not meet credit requirements in other jurisdictions. Where applicable, credit will be only awarded to a paid registrant completing all the requirements of the program as determined by the selected accreditation authority.

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How to Attend

Join the self-paced program from your office, home, or hotel room using a computer and high speed internet connection. You may start and stop the program at your convenience, continue where you left off, and review supporting materials as often as you like. Please note: Internet Explorer is no longer a supported browser. We recommend using Google Chrome, Mozilla Firefox or Safari for best results.

Technical Requirements
You may access this course on a computer or mobile device with high speed internet (iPhones require iOS 10 or higher). Recommended browsers are Google Chrome or Mozilla Firefox.

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