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RETIREMENT AND PENSION PLAN OF THE ORGANIZATION OF AMERICAN STATES AND ITS POLICIES AND PROCEDURES
INTRODUCTION
The Organization of American States Retirement and Pension Plan (Plan) was established by the then Governing Board of the Pan American Union on May 2, 1928, and made effective on July 1, 1928. Over the years, the Plan has been amended on several occasions by the General Assembly of the Organization of American States to keep it updated, as well as "qualifiable" according to the requirements of the host country in order to protect its favorable tax status.
The OAS Retirement and Pension Committee (Committee) has been entrusted by the OAS General Assembly with the responsibility of administering the Plan and to act as fiduciary of the Plan’s resources. The Committee is a tripartite body. The OAS Permanent Council appoints one member who also acts as Chairperson; one member is appointed by the Secretary General to act on his behalf; and one member is elected by the participants in the Plan. Each representative has an alternate that is appointed or elected in the same manner as the principal.
As part of its responsibility for administering the Plan, the Committee has the authority to formulate policies and procedures for the implementation of the Plan’s provisions. In this context, the Committee recently approved the Policies and Procedures contain in this document, which supersedes any previous policies and procedures to the contrary. The Committee hopes that this revised and updated version of the Policies and Procedures will contribute to a better understanding of the implementation of the Plan by both the participants and the sponsoring institutions.
November 19, 2001
Revised: December 18, 2001