Masonry Magazine October 1963 Page. 28
Benefit Plans
Communication material should be prepared as effectively as possible, in order to accomplish the goals of employers and the union. The explanation should be clear and presented in an interesting way. The format should be eye-catching.
Communicating effectively at the inception of the plan is not the entire communication job. If the plan is to accomplish the goals mentioned earlier, a continuing program of informing participants of the performance of the plan must be a part of trustee responsibility.
A consulting firm with personnel trained and experienced in all aspects of communication, such as research and study of employee attitudes and opinions, planning the communication program, art and design work, copywriting, and production methods, will be able to provide the help required to communicate the program effectively.
A consulting firm with broad skills, resources, and experience can provide help also in other areas of trustee responsibility, as required by the situation. Some of these are:
Selecting the financing medium and appraising performance.
Advising on administration procedures and reviewing administration operations.
Keeping informed about new developments in the benefit field.
The consulting firm is often called up to be represented periodically at meetings of the trustees. Problems arise which call for a continuing reappraisal of the plan, administrative procedures, and financial arrangements. Experience of the program in areas such as level of contributions and turnover is analyzed on a continuing basis to guard against unusual and dangerous fluctuations.
Financial Advisors and Institutions
The trust document gives the trustees the responsibility for investing the fund's assets. Depending on the intent of the collective bargaining parties, the degree of discretion given to the trustees may vary from broad to narrow. If broad discretion is given, the trustees have a number of approaches from which to choose:
Direct purchase of stocks, corporate and government bonds, mutual fund shares, mortgages, or real estate using the advice of:
an investment counselor
a bank trust officer
a securities broker
a mortgage banker