Perpetual or Endowment Care is mandated by virtually all states to ensure the preservation, improvement, embellishment and maintenance of cemeteries.
Perpetual Care Fund legislation requires a mandated minimum, between 10% - 30% of sales to be allocated to a trust that will provide for the perpetuity of the facility.
A further mandate requires that the money in the fund must be properly invested in accordance with the doctrine of the “prudent investor rule”.
According to the Prudent Investor Rule the principles of prudence include:
Sound diversification is fundamental to risk management.
Risk and return are so directly related that trustees have a duty to analyze levels of risk and the appropriateness to the circumstances of the institution, as well as the authority to delegate as prudent investors would.
It is the duty of Trustees to avoid fees, transaction costs and other expenses that are not justified.
Fiduciaries are required to have a balance of return between current income and the future growth of assets.
IFA-I’s passive rebalancing strategy adheres to the precepts set forth by the “Prudent Investor Rule”, advancing compliance with perpetual care fund regulations in virtually all states.
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