CIEBACommittee on the Investment of Employee Benefit Assets (Association for Financial Professionals; Bethesda, MD)
References in periodicals archive ?
For anyone familiar with the typical institutional investment conference-where pension CIOs can feel more like bait than guest-the advantages of the CIEBA meeting structure are obvious.
And that's where CIEBA, while always the cruise-ship, is turning the fastest.
I've probably been the person involved with CIEBA longer than any other person involved now," she said.
CIEBA was formed, Mares said, as a "safe environment with people who know what you know and do what you do.
Smart people get smart by hanging out with smart people-that's what CIEBA is about.
A result of managing defined benefit assets, Mares, for years, focused more on the DB side of the CIEBA equation.
CIEBA aims to proactively demonstrate the vitality and success of the private retirement system to legislators, regulators and the public, so the occasional problem or abuse doesn't taint the entire system, she explains.
To these ends, CIEBA spent three years working with the Department of Labor "to provide a bright-line test to distinguish investment information and education from investment advice in defined-contribution plans," Bayne notes.
The committee successfully urged modifications in 1996 to the ERISA Clarification Act, which sought to exempt assets in insurers' general accounts from ERISA's fiduciary standards and, according to CIEBA, would have overturned a 1993 Supreme Court decision affirming ERISA protection.
Another CIEBA initiative was preserving employers' investment flexibility under ERISA.
He advised the CIEBA members to be so simplistic as to go to a dictionary and find out what a pension is.
CIEBA and FEI can make a difference by telling about the achievements of the employment-based pension system, he continued: "We should clearly understand that proposals for expanded tax preferences for family savings accounts or for IRAs are adverse to the long-term interests of a strong private pension system.