The Newfoundland and Labrador Teachers’ Pension Plan Corp. has appointed an eight-member expert board to govern its board of directors.
“It is paramount that in overseeing a pension plan with over $3 billion in assets that selected appointees have the required experience and expertise,” said Finance Minister Cathy Bennett in a news release.
“I commend the efforts of the [independent appointments commission] in making this first appointment. I am confident that all the board members selected by the [commission] and the [Newfoundland and Labrador Teachers’ Association] will effectively and professionally manage the teachers’ pension plan on behalf of the province’s active and retired teachers.”
Read: Newfoundland and Labrador reaches agreement on teachers’ pension plan
On June 15, 2015, the provincial government and teachers’ association announced reforms to the teachers’ pension plan, including the establishment of the Newfoundland and Labrador Teachers’ Pension Plan Corp. to be the trustee and administrator of the fund.
“When we engaged in the pension reform process over four years ago, we were determined, as an association, to achieve long sought after goals: a long-term solution, long-term stability for the plan and resolution of the unfunded liability issue once and for all,” said Jim Dinn, president of the teachers’ association. “We knew having an expert board of directors free from political influence was key to achieving these goals. Early on, we established our own expert panel to seek out qualified individuals to recommend to our provincial executive.”
Read: Public servants receive pension overpayments
The eight-member expert board are:
- Richard Dixon, recently retired from his role as vice-president and human resources officer at NAV Canada.
- Janet Rabovsky, a partner at Ellement Consulting Group and an expert panellist for Benefits Canada.
- Gretchen van Riesen, who has more than 40 years of experience in the pension and benefits industry, most recently as the former vice-president of global pension and benefits at CIBC.
- Eric Thoms, who spent the majority of his 20-year career working for the Canadian Pacific Railway.
- Don Ash, the outgoing executive director teachers’ association.
- Robert Blais, who retired from Towers Perrin (now Willis Towers Watson) after nearly 35 years as a senior advisor and a senior partner working mainly in the firm’s retirement practice.
- Paula McDonald, an experienced chief financial officer who has held positions in areas including the technology sector.
- Scott Perkin, director of pension and economic affairs at the Ontario Teachers’ Federation.
Read more appointments in the benefits and pension industries