Stable Value Investment Association

“Executive committee - the directors may elect or appoint an executive committee. Except for the power to amend the articles of incorporation and bylaws, the executive committee shall have all the powers and authority of the board of directors in the intervals between meetings of the board of directors, and is subject to the direction and control of the board. Executive committee is composed of treasurer, chairman of the board, and chairs of committees: data & research; communications & education; government relations; diversity, equity & inclusion; and events.”

“In october 2022, svia voting members instituted a standing committee on diversity, equity and inclusion and made the chair of that committee a non-voting member of the board, if appointed, as well as a member of the board's executive committee. The bylaws were also changed to permit a maximum of nine years of continuous service as a director on the board, unless the board votes otherwise.”

“There are three types of members: plan sponsor members, individuals representing employers sponsoring a defined contribution plan; service firm members, individuals from companies that provide services to plan sponsors/service firms; value program members, individuals from companies that contribute up to $15,000 for more visibility in the association and/or sponsorship of specific association initiatives. Value program members has three incremental levels: $5,000 or $10,000 or $15,000.”

“Each member firm has one voting member who votes on behalf of the firm for candidates for the board of directors and/or policy positions.”

“Members must vote/elect the board of directors. Every year approximately one third of the board is up for election since board members serve staggered, three-year terms. Additionally, any change to the association bylaws requires a formal vote by the members.”

“Form 990 is prepared by an accounting firm and the draft return is reviewed by management. After management review, draft form 990 is reviewed by treasurer and board committee on finance. The subcommittee makes a recommendation for the board to approve the filing. The board votes on this recommendation. If 2/3 of the board votes in favor of the recommendation/resolution, then the 990 tax filing is approved and subsequently filed with the irs.”

“Members of the board have a duty to disclose to the board the presence of any conflicts that have arisen or that they reasonably believe might arise between their responsibilities as board members of the association and their corporate or personal interests. Similarly, directors have a duty to disclose to the board the appearance of a conflict of interest. The board member must disclose the presence of such conflict of interest, or appearance of conflict of interest, to the chairperson of the board, the secretary, and association president as soon as he or she has reason to believe that such a circumstance exists. The disclosure of the presence of such conflict of interest, or appearance of conflict of interest, shall be recorded in the board's minutes. Members have a duty to recuse themselves from participating in discussion or decision-making on matters in which they are conflicted as described above. Any director or association member with a concern or question about the applicable provisions of the code of conduct (which houses the conflict-of-interest policy) should contact the chairperson of the board, the secretary, or president of the association. Such persons shall also be responsible for putting the concern or question to the board. The board of directors is responsible for enforcing the applicable provisions of the code. Violation of svia's code of conduct can result in removal from the association's board of directors under the terms and conditions set forth in the association's by-laws.”

“The executive commmittee evaluates the president's compensation annually based on the achievement of the association's yearly goals and objectives. Compensation is determined based on this annual evaluation. The organization also consults with compensation surveys and reviews 990s compensation for similar organizations when evalutating and determining compensation. The most recent evaluation of compensation utilized 2018 data from guidestar.”

“Governing documents and conflict of interest policy are posted on the association's website. Financial statements are available upon request.”

“Svia's fall forum returned to 100% in-person meeting in october 2022.”

“Svia has a board committee that oversees the audit and the selection of the audit firm. The process has not changed from the prior year.”