Board of Trustees
Once they are appointed, the Trustees assume collective responsibility for all aspects of the Plan's operations. Under the Plan's governance model, one Government appointee and one OPSEU appointee fill the positions of Chair and Vice-Chair, with the roles alternating between Government and OPSEU appointees every two years. The Trustees have a fiduciary obligation to the Plan's membership and execute their responsibilities independently of the sponsors and OPTrust management.
The Trustees have broad authority to establish OPTrust's policy and strategic priorities for all areas of its operations. These include:
- establishing OPTrust's investment policies, overseeing the activities of the Investment Division and monitoring the performance of the investment portfolio to ensure that long-term investment returns will be sufficient to pay members' and pensioners' benefits
- ensuring that the Plan's pension liabilities are properly valued and that funds are available to pay for members' and retirees' pensions over their lifetimes
- reviewing reports from OPTrust's independent auditors and verifying that the Plan's financial statements accurately reflect our financial position
- monitoring the Plan's administration to ensure that members and pensioners receive the benefits to which they are entitled, along with timely and effective information and services
- reviewing and approving OPTrust’s annual operating and capital budgets
- establishing effective policies and procedures for identifying and managing the full range of investment, funding and operational risks to which the Plan is exposed.
The Trustees monitor OPTrust's performance in each of these areas and ensure compliance with Board policies and objectives through OPTrust’s President and Chief Executive Officer, to whom they have delegated responsibility for managing all OPTrust's operations.