Book: One of a Kind!

Funston Advisory Services LLC has published One of a Kind! A Practical Guide for 21st Century Public Pension Trustees. It provides practical advice about the governance challenges faced by 21st-century public pensions and is a "must-read" for all fiduciaries and those interested in or affected by the governance of public pension systems. Keith Brainard, NASRA Research Director said, "Public pension trustees, policymakers, and millions of public pension plan participants - working and retired - will benefit from their impressive effort."

Retirement security will be one of the defining issues of the 21st century. The policy and investment environment is highly complex, uncertain, and rapidly changing. Tough decisions need to be made.

Today's fiduciary decisions will have profound, long-term impacts on members, retirees, beneficiaries, plan sponsors, taxpayers, and the general public.

Prudent decision-making is critical.

Trustees and executives are asking for help in understanding what others are doing and the lessons learned so they can adapt them to their specific situations.

This handbook is written by those with deep and broad experience as trustees, executives, and advisors. "One of a kind!" explains in straightforward language the duties of trustees, their roles, and responsibilities as board and individually, and the challenges they face. While they have much in common, they defy stereotyping and each system needs to be treated as one of a kind. The handbook clarifies the roles of board direction and oversight and prudent delegation to executive management. It provides a practical and comprehensive perspective on leading practices and lessons learned that can be applied by each system to meet its unique requirements.