The Management Employees Service Pension Plan (MEPP) is governed by the Public Sector Pension Plans Act and regulations.
The President of Treasury Board and Minister of Finance is the Administrator and Trustee of the Management Employees Pension Plan. However, the Minister does not complete the day-to-day tasks in operating the pension plan.
The MEP Board Mandate and Roles document provides clarity on the governance of MEPP, and the roles and responsibilities of the President of Treasury Board and Minister of Finance and the Board.
There are a number of different organizations involved in the governance and operations of the Plan:
- Management Employees Pension Board
- Plan Administrator: Alberta Pensions Services Corporation (APS)
- Investment Manager: Alberta Investment Management Corporation (AIMCo)
Alberta Pensions Services Corporation (APS) is delegated in all functions in relation to the administration of benefits of the pension plan.
Alberta Investment Management Corporation (AIMCo) is responsible for the investment of the Plan funds.
Alberta Finance monitors the various delegations and the delivery of service by the various organizations.
Aon Hewitt Inc. provides Actuarial Consulting Services to the MEP Board, and API Asset Performance Management Inc. provides Investment Consulting Services to the MEP Board.
The Auditor General of Alberta conducts an independent audit of the financial statements of MEPP to ensure the financial statements are presented fairly in all material aspects and in accordance with Canadian generally accepted accounting principles.
Because there are a number of different organizations involved in the governance and operations of the plan, ongoing communication, cooperation and collaboration is required of all parties. For that reason, MEPP has an operating protocol with APS that details how the organization will provide services to the MEPB.