FSM Social Security Board of Trustees holds 1st Regular Meeting 2017

  • -

FSM Social Security Board of Trustees holds 1st Regular Meeting 2017

Category : Board News

Print Friendly, PDF & Email

FSM Social Security Board of Trustees had its 1st quarter meeting beginning the year 2017 as its usual ongoing method. Every year, four regular meetings shall convene, along with special meetings when necessary. For first quarter 2017, they had met to tackle the usual issues or businesses needed to be taken care of during each quarter. The Board of Trustees for FSMSSA is usually a body of 6 people; 4 representatives from each state, a national government representative and Administrator as Ex-Officio member. Currently there are empty seats within the governing body of the system, due to members being resigned for crucial reasons. On board now the system holds 3 members including the Administrator. In its first quarter meeting, the Board heard the Annual Investment Portfolio review and decides on its money managers. Decisions were made upon either to keep certain groups of managers or put them on watch or move out from under them. For instance, Winslow was put on watch due to their underperformance compared to their benchmark over the last three years. In line with that, the Board also assessed the other managers carefully to make sure the system stays in good hands. The Board further discussed other pending businesses about Social Security employees in regards to financials. These meetings had to tackle every inch of every need within the program regardless. It was another time for each member to do their reports as well be updated with FSMSSA reports regarding Financials, Collections and other crucial updates. In its interest of time, the Board also allot time for Appeal Hearings in the state where the need arose. FSMSSA Board of Trustees had hoped for better ends to their meetings, which in fact had been a plus for the outcomes. With timely updates as is, it is believed that the Board of Trustees for FSM Social Security strives for the betterment of the program for the sake of all its people near and far.