Massachusetts General Laws
Chapter 151d - Health, Welfare and Retirement Funds
Section 16 - Investments and Management

Section 16. Trustees shall invest the funds of their pension plans and profit-sharing retirement plans and manage said affairs in accordance with the provisions contained in the instruments under which they are acting, or, in the absence of any such provisions shall invest the funds and manage fund affairs with the care under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims.

Structure Massachusetts General Laws

Massachusetts General Laws

Part I - Administration of the Government

Title XXI - Labor and Industries

Chapter 151d - Health, Welfare and Retirement Funds

Section 1 - Definitions

Section 2 - Registration of Trusts, Funds or Plans; Form, etc.; Approval; Filing; Time; Proceedings; Venue; Violations; Penalties

Section 3 - Annual Report or Other Reports by Trustees or Plan Administrators; Exemptions; Information Required; Form; Filing; Time; Powers of Board; Conflicts of Interest; Restrictions; Violations; Penalties; Proceedings; Service of Process on Nonre...

Section 3a - Periodic Review of Registered Pension Plans; Exceptions; Report

Section 4 - Reimbursement for Visual Services

Section 5 - Fees; Registration of Trust or Fund; Filing Annual Reports

Section 6 - Embezzlement or Misappropriation of Trust Funds; Fraud; Penalties

Section 7 - Application of Chapter; Exceptions

Section 8 - Waiver of Compliance With Requirements of This Chapter; Application; Form; Revocation; Judicial Review

Section 9 - Waiver of Requirement for Statutory Vested Benefits; Procedures

Section 10 - Compliance With Other Applicable Laws by Trustees or Plan Administrators

Section 11 - Additional Penalties for Failure to Pay Contributions or Benefits; Venue for Complaints

Section 12 - Bond of Trustee or Plan Administrator; Waiver; Failure to File Certification Thereof; Penalty

Section 13 - Statutory Vested Benefits; Requirement; Standards

Section 14 - Termination of Pension Plan or Profit-Sharing Retirement Plan; Allocation of Benefits and Vesting of Interests; Insurance; Notices

Section 15 - Violations by Trustee or Plan Administrator; Injunctive Relief

Section 16 - Investments and Management

Section 18 - Severability