Risk management is a healthy obsession at LAPP. It is at the heart of everything we do.
We owe pensions to more than 260,000 LAPP members, now and well into the future. That is a big responsibility and we take it very seriously. To meet those obligations we must keep the Plan well-funded and focus on its long-term sustainability.
To that end, risk management remains a strategic priority at LAPP as we work to ensure that all risks are identified, quantified, managed and mitigated. LAPP Corporation (LAPP Corp.), as part of its fiduciary duty to members, manages a spectrum of risks facing the Plan and develops a strategy for dealing with them in advance.
LAPP Corp. reports on its risks in a report called the Enterprise-Wide Risk Management Framework. This report is a comprehensive assessment of all risks facing LAPP and it covers the integrated responsibilities of LAPP Corporation and its Corporate Board, the Sponsor Board, and our service providers APS and AIMCo.
Some of the risks that need to be managed by LAPP Corp. include: