Governance Structure
The Management Employees Pension Plan (MEPP) is governed by the Public Sector Pension Plans Act and regulations.
The 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.
There are a number of different organizations involved in the governance and operations of the Plan:
- MEP Board
- Plan Administrator: Alberta Pensions Services Corporation (APS)
- Plan Investor: Alberta Investment Management Corporation (AIMCo)
Alberta Pensions Services Corporation (APS) is delegated 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 Consulting provides actuarial services and 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.
The Public Sector Pension Plans Act sets out the main objectives of the Board with respect to funding, administration, investments and amending the Plan. The Management Employees Pension Board (Board) monitors the management of the Plan and acts in an advisory capacity to the Minister of Finance.
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 operating protocols with APS and with AIMCo that detail how the organizations will work together.
