Leadership and Governance

Through their representatives on the Plan’s governing bodies – the Sponsors’ Committee and the Board of Trustees – members and employers have an equal say in and share the risks of Plan decisions. This joint governance structure is recognized as a model for success in keeping defined benefit pension plans sustainable.

The governors are appointed by the Plan sponsors: the College Employer Council on behalf of the college boards of governors, the Ontario College Administrative Staff Association (OCASA), and the Ontario Public Service Employees Union (OPSEU).

As a member of the CAAT Pension Plan, you can be certain that your interests are well-represented, because both members and employers share equally in making the decisions that affect your benefit security.

The Sponsors’ Committee is an eight-member group, which approves Plan amendments and files actuarial valuations. Members of the Sponsors’ Committee primarily represent the interests of the groups that appoint them. The Committee’s focus is determining how to best balance contribution rates and benefit design.

The Board of Trustees is a 14-member board. As fiduciaries, Trustees are legally bound to act in the interests of all Plan members. The Board of Trustees sets the investment strategy and funding risk that are appropriate for the Plan’s long-term obligations and establishes policies for administering benefits.

Equal representation and voting extend to these subcommittees of the Board of Trustees that make recommendations to the Board :

• Appeals Subcommittee – hears member appeals of the interpretation of Plan rules.
• Audit Committee – reviews the effectiveness of the organization in controlling and managing operational risk. It ensures the reliability of financial reporting and reviews the annual financial statements.
• Finance and Administration Committee – is concerned with Plan design, funding and administration, legislation, litigation, and the appointment and evaluation of actuarial and legal advisors.
• Governance Committee - assists the Board of Trustees in ensuring effective Board functioning and decision making as well as overseeing management of the CEO & Plan Manager.
• Investment Committee – develops and recommends the Statement of Investment Policies and Procedures and related policies such as those concerning responsible investing and investments in derivatives.

To remain on track and focused on our goals, the Plan relies on the leadership of an accomplished team of professionals. With a mix of industry experience, education, and a commitment to our long-term objectives, we have a team with a wealth of expertise to meet future challenges.