The British Columbia Municipal Pension Plan’s new Municipal Retiree Benefit Trust is joining the B.C. Investment Management Corp.
The MRBT, which has $100 million in assets under management, is an employee life and health trust that provides group benefits to the MPP’s retirees and their spouses/dependants. It was recently created following a program review and redesign.
“We are delighted to have been selected as investment manager for MRBT,” said David Morhart, executive vice-president of corporate and investor relations, in a press release. “We have worked with MPP for many years and look forward to continuing to invest on behalf of Municipal Pension Plan retirees in this new capacity.”
Also in the release, Bonnie Pearson, chair of the MRBT, and Lyn Kocher, its vice-chair, said the Municipal Retiree Benefit Board of Trustees are looking forward to beginning the work of maintaining a valuable benefits program for MPP retirees. “We know from our experience with BCI that the initial funds and ongoing contributions will be well managed to assist the trustees with their goal of providing affordable and stable extended health benefits.”