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KPP is a pension management system developed specifically for Pennsylvania Municipal Defined Benefit Pensions including Police and Non-Uniform Retirement Plans.
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Expertise
FRS Capital Management created KPP to give its municipal pension clients a higher standard of management and service for their plan investments and participants.
FRS has worked in the Pennsylvania Municipal Pension Market for over 25 years. With a long history of municipal pension service and a deep knowledge of Act 600, FRS brings specific expertise to your plan, along with high quality investment management.
In depth of knowledge of the laws governing your pension plan is critical. FRS has the knowledge and experience needed to help your plan operate at a high level.
Local Presence
FRS Capital Management is located in Southeastern Pennsylvania and has been doing business in the State for almost three decades. FRS is committed to the PA economy and serving PA-based businesses. When possible, FRS actively seeks out local, highly qualified investment management partners to manage specific asset classes in the KPP.
Institutional Investment
KPP is a true institutional investment approach for municipal pensions.
Too often in the PA municipal pension world, retail investment options, designed for small investors, are used in pension plans that have large pools of assets. This approach decreases transparency, leads to stock overlap, increases costs and reduces performance.
Institutional assets should be invested in an institutional manner, and KPP makes this process easy for the plan trustees i.e. the elected officials. KPP institutional investments include direct stock and bond holdings (not mutual funds), transparent costs, strategic and tactical asset management, and esoteric investment classes.
This transparent, institutional investment management process helps the elected officials, as plan trustees, fulfill their fiduciary duty to the plan as defined in Title 20 of the PA Consolidated Statutes.
Functionality
Supporting KPP's advanced asset management approach is an assortment of ancillary services for the pension committee and plan participants. FRS Capital management will:
- Assume the role of an investment fiduciary;
- Serve as a non-voting member of the pension committee - to provide consultation on Act 600, Act 205 and other state and federal legislation governing the pension plan;
- Draft and help assure adherence to a comprehensive Investment Policy Statement (IPS);
- Monitor fees, performance and services of the asset class investment managers;
- Educate participants on terms, conditions and funding requirements of the plan(s).
- Compare plan ordinances, labor contracts, pension sections and Act 205 Reports to assure consistency on pension terms and conditions among these documents; and
- Assist in the state audit process and attend the state audit exit interview.
For more information on the KPP system click here.