In BoardIQ, Investment Management Practice Co-Leader Comments on Fund Boards’ Retirement Policies

An article published by BoardIQ on Jan. 10 reports that fund boards have started to increase the retirement age at which directors must depart. The piece outlines that changes likely reflect not only general demographic trends of people living and staying active longer but also the individual experiences of some boards that have had members serve competently into their 80s, independent directors and fund experts say. A number of boards don’t have any retirement policy, and it has worked well for them, investment management practice group partner and co-leader Tom Hiller (Boston) states in the article. However, Mr. Hiller continued, “you want to ensure your directors are able to be fully engaged and up for what is a very demanding position.”