About Plan Partners
The Municipal Pension Plan Redesign is an initiative being led by plan partners.
The Municipal Pension Plan is a joint trusteeship. This means that representatives (partners) of both plan members and plan employers share oversight of the pension plan. Oversite responsibilities include determining the plans’ benefit structure.
The plan Employer Partners are the Government of British Columbia and the Union of BC Municipalities. The plan Member Partner is the Municipal Employees’ Pension Committee.
The plan partners and other appointing authorities, representing plan employers and members, appoint 16 primary trustees to the board and appoint an alternate trustee for each primary trustee.
Employer trustees are appointed by:
- BC Public School Employers’ Association
- Government of BC
- Health Employers Association of BC
- Union of BC Municipalities
Employee trustees are appointed by:
- BC Police Association & BC Professional Fire Fighters Association
- BC Nurses’ Union
- Council of Joint Organizations and Unions
- Canadian Union of Public Employees, BC Division
- Health Sciences Association of BC
- Hospital Employees’ Union
- Municipal Employees’ Pension Committee.
The plan partners signed a Joint Trust Agreement (JTA), which provides the Municipal Pension Board of Trustees with guidelines on how to prudently manage the pension plan and the pension funds in a framework where plan members and employers share the responsibility of plan governance and share the risks and rewards of plan sponsorship. The board has all powers necessary to administer the plan and pension funds subject only to the limitations set out in this agreement, the plan rules and all other applicable laws.