Lebanon Valley College’s 403(b) Oversight Subcommittee was formed in April 2011. It meets quarterly and reports to the Board of Trustees on an annual basis. The Subcommittee was created to monitor the College’s 403(b) Plan and ensure that the Plan meets faculty and staff needs. It strives to make certain that all areas of campus personnel are represented. With that in mind, the Subcommittee currently consists of the following individuals:
- 2 Faculty Members- Kristen Boeshore and Patrick Brewer
- 1 Finance Representative- Shawn Curtin
- 1 Administration Representative- Andrew Greene
- 1 Human Resources Representative- Dana Lesher
- 1 Board Member with legal or employee benefits background- Elyse Rogers
- 1 Staff Member- Robert Kelly
The Plan’s Investment Advisor is Conrad Siegel Investment Advisors, Inc.
As fiduciaries, the primary responsibility of the Subcommittee members is to act in the best interest of the Plan’s participants. The Subcommittee has implemented an Investment Policy Statement which includes procedures to make certain that its actions are prudent and well documented. At its quarterly meetings, the Subcommittee addresses issues such as:
- Maintaining the Investment Policy Statement
- Selecting investment options
- Monitor investment options
- Approving investment option changes
- Ensuring investment education and communication material are made available to participants.
- Reviewing all costs associated with the management of the Plan’s investment program including expense ratios of each investment option
- Monitor and assess Plan Record Keeper
ll decisions regarding administrative issues, investment options and communication efforts are made for the exclusive purpose of benefiting the Plan participants. Through its actions, the 403(b) Oversight Committee aims to promote participants’ success in achieving their retirement saving goals. While Plan participants are ultimately responsible for their own retirement decisions, the 403(b) Oversight Subcommittee seeks to maintain the Plan so that it allows employees to invest in accordance with their risk tolerances, saving and investing horizons, and retirement goals.