CIEBA, the Committee on Investment of Employee Benefit Assets, represents 113 of the country's largest pension and defined contribution trusts. Its members manage more than $2.1 trillion of defined benefit and defined contribution plan assets on behalf of more than 14 million participants and beneficiaries. As the largest organization of private plan investment officers, CIEBA represents the interests of chief investment fiduciaries of employee benefit plans in front of legislators, Congress, regulators, and the media. Click here to learn more. 

Recent Meeting Highlights

Spotlight on our April 2024 Working Group Meeting

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Spotlight on our January 2024 Working Group Meeting

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Spotlight on our October 2023 Annual Meeting

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Spotlight on our June 2023 Working Group Meeting 

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CIEBA in the Media/Comment Letters

Litigation Update:

CIEBA recently filed a brief to ask the US Supreme Court to review a case dealing with the standards to bring a valid ERISA claim. CIEBA Executive Director, Dennis Simmons spoke to several reporters about the brief:

"[Plan sponsors have] been dragged into court to defend what are oftentimes frivolous claims by lawyers looking to extract quick settlements," he said. "At some point, you might see companies simply throw up their hands and stop offering plans to begin with."

Click Here to Read the Amicus Brief
Click Here for Press Coverage

CIEBA in P&I: DOL removes potential requirement for plans to renegotiate QPAM agreements

CIEBA Executive Director, Dennis Simmons, recently spoke with Pensions & Investments Magazine about CIEBA’s engagement with the DOL on their proposed changes to the Qualified Professional Asset Manager (QPAM) rules. In a change from a 2022 DOL proposal and as CIEBA recommended in public testimony, the DOL’s final rule issued on April 2, 2024, removed a requirement that would have potentially required plans to renegotiate agreements with many of their investment managers.

 Click Here to Read an Excerpt from the Article
Click Here to Visit P&I Online 

CIEBA Testifies During DOL Hearing on Proposed Amendments to QPAM Exemption 

 

On November 17, the Department of Labor held a hearing on proposed amendments to the Qualified Professional Asset Manager (QPAM) prohibited transaction exemption. After introductory comments on the topic from the new Assistant Secretary of Labor, Lisa Gomez (top left), CIEBA testified about our major concerns with the DOL’s proposed amendments to the QPAM exemption. Robin Diamonte, CIO of Raytheon; Kevin Walsh, Principal at Groom Law Group; and Dennis Simmons, Executive Director of CIEBA, discussed concerns with the proposed amendments hampering pension investment fiduciaries' reliance on the QPAM exemption. 

Click Here to Read Our Letter 

CIEBA Testifies for Greater ERISA Investment Transaction Flexibility 

Click Here to Learn More/View a Clip of the Testimony