NCPERS Program for Advanced Trustee Studies (PATS) Returns

• By: admin
• On: 09/01/2023 18:45:33
• In: News
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By: Hank Kim, Executive Director and Counsel, NCPERS

At NCPERS, we're always looking to improve our educational programs while adapting to the shifting needs of our member public pension plans and stakeholders. Sometimes, this involves launching new events (like this year's inaugural Pension Communications Summit). Other times, this can mean bringing back events where there is a clear need for additional programming.

Next month, after a COVID-related hiatus, we're excited to see the return of one of our always-popular events: NCPERS Program for Advanced Trustee Studies (PATS). Developed over a decade ago in collaboration with Harvard Law School, this program is perfect for advanced trustees and staff who crave an in-depth exploration of pension plan governance. This year's program will focus on two key topics: Investment in Private Equity and Actuarial Deep Dive for Pension Funds. We believe these two topics are especially important for our pension fund members and stakeholders to become well-acquainted with.

According to the Center for Retirement Research at Boston College, state and local plans have increased their holdings in alternatives from 9 percent in 2001 to 34 percent in 2022. Their research found that, while alternatives have not helped overall returns, they may have reduced volatility. Recently, though, public pensions have been pulling away from private equity, with total commitments in Q2 decreasing 27.6 percent year over year. As an asset class, alternatives tend to be less broadly understood compared to equities. It's imperative for pension staff and trustees to have a deep comprehension of private equity markets in order to effectively fulfill their fiduciary duties.

Understanding actuarial science is key to accurately assessing the health of your pension fund. Trustees and staff will walk away from PATS with a deeper knowledge of these complex topics, allowing them to work effectively with actuaries and have a more holistic understanding of their fund's health when making decisions.

Both PATS and NCPERS Accredited Fiduciary (NAF) program are part of NCPERS University. These two-day, in-person events will be held October 21-22 in Las Vegas, immediately before our 2023 Financial, Actuarial, Legislative & Legal (FALL) Conference.

One of the biggest benefits of our NAF and PATS programs is having the opportunity to engage with peers from across the country and build valuable connections. With small class sizes, NCPERS University programs help facilitate the exchange of ideas. Attendees form a network of trusted peers who understand and experience the same challenges and opportunities.

Our FALL Conference is the perfect mid-sized event, featuring a mix of general session topics, exhibit hall breaks, and networking opportunities. Attendees will learn from industry leaders about the latest financial, actuarial, legislative, and legal issues facing public pensions of all sizes.

We hope to see you in Las Vegas for our final in-person events of the year. Be sure to register for both NCPERS University programs and our FALL Conference by September 20 for early-bird pricing.