8/3/2019 Funds Act UPMIFA and Muhlenberg
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Mnbncjnz ?>! :4?4
Tfre}efk Totnz fk ^keifzc Tz~mnk} Cokohncnk} fi Ekr}e}~}efkoa
I~kmr Ob}
Knx anherao}efk er mercok}aekh bnk}~zu fam }z~r}r okm nkmfxcnk}r
}`o} xnzn r~ttfrnm }f
bfk}ek~n ek tnztn}~e}u+ ]`er er }`n zoemekh okm ta~kmnzekh fi
`er}fzeb nkmfxcnk}r }fbfctnkro}n ifz tzftnz}u cfz}hohnr! tn}
tzflnb}r! ioeanm ekynr}cnk}r okm nptokmnmtnzrfkoa bfctnkro}efk
tobgohnr! x`eb` ozn kf} ifz }`n jnknie} fi }`n T~jaeb okmbnz}oekau
kf}}`n mfkfzr( ek}nk}+ ^kifz}~ko}nau! knx anherao}efk er
mercok}aekh bnk}~zu fam}z~r}r okm nkmfxcnk}r }`o} xnzn r~ttfrnm }f
bfk}ek~n ek tnztn}~e}u+
Ek :449! ]`n ^keifzc Aox Bfccerrefk ^AB% znanornm J~r` nzo
h~emnaeknrmnznh~ao}ekh o r~jr}ok}eoa tfz}efk fi kfktzfie} i~kmr+
Cfzn }`ok =4 R}o}nr oyn omft}nmynzrefkr fi }`nrn h~emnaeknr xe}`
ynzu ae}}an mnjo}n okm nynk anrr t~jaebe}u+ Fk L~kn ?4!:445! KL
Hfynzkfz Lfk Bfz|ekn rehknm ek}f aox }`n ^keifzc Tz~mnk} Cokohncnk}
fiEkr}e}~}efkoa I~kmr Ob}+ ]`er aox bzno}nr }zf~jaekh b`okhnr ek
}`n xou }`o} b`oze}ojan
}z~r}r okm nkmfxcnk}r ozn cokohnm okm znh~ao}nm+
]`n ~rn fi }`n }nzc *tz~mnk}* ek mnoaekh xe}` *rcoaa i~kmr* `or
znr~a}nm ek ok nptokrefkfi }`n oiinb}nm i~kmr izfc }`n ^AB
r~hhnr}nm ocf~k} fi -:>!444 }f o `eh` fi -:>4!444ek Knx
Lnzrnu okm ek o k~cjnz fi f}`nz R}o}nr+ ]`nrn i~kmr jnbfcn *fam*
oi}nz } nr~hhnr}nm :4 unozr ek KL! okm o} anor} fkn R}o}n `or
r`fz}nknm }`n }ecn }f ?4 unozr+Aokh~ohn fk zn}zfob}eye}u er
r}zo}nheboaau yoh~n okm knhanb}r t~jaeb kf}eiebo}efk
okm}zokrtoznkbu+
Aeq~emo}ekh }`n tzekbetoa ek bf~k}anrr rcoaanz nkmfxcnk}r }`o}
r~ttfz} b`oze}ojan xfzgek hffm }ecnr okm jom xeaa mf ezzntozojan
`ozc }f }`n t~jaeb hffm }`o} xeaa nynk}~oaau
ob`enyn ekiocu or o bzecn ohoekr} }`n aeyekh or xnaa or }`n
mnom+
Cfr} rehkeiebok} er }`n }zokrinz fi fynzreh`} izfc }`n
l~zermeb}efk fi }`n R}o}nr( Bf~z}r }f otfae}eboa ottfek}nn # }`n
R}o}n O}}fzknu Hnknzoa # cogekh kfktzfie}r cfzn y~aknzojan
}ftou#}f#taou okm ~kznh~ao}nm orrn} }zokrinzr+ N}`eboa orr~ct}efkr
ojf~} tz~mnkbn!cf}eynr! okm `~cok ko}~zn `oyn r~jrnq~nk}au jnnk
b`okhnm xe}` anrrfkr anozknm ju}`n jokgekh bzerer! tznmo}fzu
ankmekh tzob}ebnr! jfk~rnr ocemr} joeaf~}r okm }`n ioea~znfi }`n
RNB }f znh~ao}n }`n nptafe}o}efk fi if~kmo}efkr okm kfktzfi}r ju
Comfii+
]`n mercok}aekh fi Knx Lnzrnu `frte}oar! rtnbeieboaau C~`ankjnzh
Znhefkoa CnmeboaBnk}nz! Taoekienam! KL! xor iobeae}o}nm fi okm ju o
bfztfzo}n! kfktzfie} toznk} bfctokuxe}` znao}nm ifz#tzfie} `famekhr
okm fynzaottekh ek}nznr}r+ ]`n }zokrinz fi fynz o
bnk}~zu(robb~c~ao}efk fi orrn}r< nkmfxcnk}r! hei}r! znoa nr}o}n!
iobeae}enr! okm nq~etcnk} xormfkn ~kmnz }`n ottzfyoa fi }`n KL
R}o}n Hfynzkcnk}! okm }`n KL O}}fzknu Hnknzoa(rFiiebn+ ]`n bu tznr
mfb}zekn xor nrrnk}eoaau ehkfznm+
Be}e|nkr `oyn zoernm }`n nkmfxcnk} err~n o} R}o}n `nozekhr! ek
an}}nzr }f }`n nme}fz! okmyozef~r f}`nz ynk~nr! j~} oaa fi }`er `or
ioaank fk mnoi nozr+ ]`n be}e|nkr ozn touekh ek}op mfaaozr }`n rocn
R}o}n hfynzkcnk} nctafunnr x`f ozn kf} tzf}nb}ekh }`nez
ek}nznr}r+
