The Management Employees Pension Plan (MEPP) was originally established in 1972 as the Public Service Management Pension Plan for management employees of the Alberta government and approved agencies, boards and commissions. In 1993, new legislation was passed that retroactively split the plan into two separate plans: MEPP and the Public Service Management (Closed Membership) Pension Plan (PSM(CM)PP or “Closed Plan”). The latter plan relates to the entitlements of former managers not in active service as of August 1, 1992.
The Board has legislated responsibilities to MEPP and to the PSM(CM)PP. The mandate of the Board, as established under the PSPPA, Schedule 5, section 3, and Schedule 6 is to:
1.1 advise the Minister on any pension matter that is of interest to persons receiving or entitled in the future to receive benefits under MEPP;
1.2 consult with the Minister with respect to:
1.2.1 amending or repealing and replacing the Management Employees Pension Plan Regulation (the "Plan Rules");
1.2.2 conducting an actuarial valuation with respect to MEPP;
1.2.3 conducting an actuarial valuation with respect to the Closed Plan;
1.2.4 changes proposed to the Public Sector Pension Plans (Legislative Provisions) Regulation;
1.2.5 the cost to be charged for the administration of MEPP; and
1.2.6 the cost to be charged for the administration of the Closed Plan.
1.3 review administrative decisions for MEPP and the Closed Plan in accordance with the delegation from the Minister;
1.4 set general policy guidelines such as the Investment Policy on the investment and management of the MEPP Fund that it considers should be followed; and
1.5 set general policy guidelines on the administration of MEPP that it considers should be followed.
Board Investment Committee
The responsibility of the Board’s Investment Committee (IC) is to review the investment performance of the Plan’s fund with Alberta Investment Management Corporation (AIMCo) with the assistance of the Board’s investment consultant. The IC also reviews MEPP's Investment Policy (IP), including the asset mix, on an annual basis and makes recommendations to the Board on changes it believes are required to prudently manage the Plan.
The responsibility of the Board's Investment Committee is to:
Monitor and evaluate the investment performance of the fund on a comprehensive basis (quarterly), by using performance investment reports requested of and compiled by AIMCo and/or external advisors;
Recommend contracting of external investment advisors;
Review results of a detailed assessment of AIMCo on an annual basis;
Assess the cost-effectiveness of investment strategies, structures, and processes;
Review reporting on compliance with the Board's policies, and with applicable laws and regulations;
Monitor changes in the Plan's membership characteristics, liability structure and contribution flows that may impact the Plan's investment strategies;
Commission analysis or reviews of specific investment issues related to the Plan;
Provide minutes to the Board once each quarter on the highlights of the Committee's activities and findings;
Complete an annual review of the Board's investment policies that includes the investment policy and the statement of investment beliefs; and
Advise and make recommendations to the Board on the:
MEPP Investment Policy;
Investment Management Agreement with AIMCo;
Strategies, practices and processes to manage the investment risks of the Plan or to improve the effectiveness of investment governance; and
Any other investment-related matter as requested by the Board or deemed appropriate by the Committee.
The Board has seven members, comprised of three employee nominees, three people nominated by the Government of Alberta and one non-voting member nominated by the Public Service Commissioner's Office. The PSPPA's Legislative Provisions Regulation requires that the offices of Board and Vice-Chair rotate every two years between employer and employee nominees.
Board Vision
That Plan members and employers have a pension plan that is affordable and sustainable.
Board Mission
To provide prudent governance of the Plan and Fund.
MEP Board Members
Sonya Johnston (CPA, CMA, CPFA)
Board Chair
Sonya Johnston (CPA, CMA, CPFA), Board Chair
Ms. Johnston has over 20 years of experience in a variety of progressively responsible positions within the Government of Alberta. She currently holds the position of Assistant Deputy Minister, Strategic Policy and Corporate Services with Economic Development and Trade. Prior roles have included Executive Director, Service Development and Quality in Service Alberta, Acting Assistant Deputy Minister, Shared Services in Service Alberta and Executive Director, Corporate Consolidations and Reporting with Alberta Treasury Board and Finance. Sonya is a Chartered Professional Accountant and is a member of the Chartered Institute of Public Finance and Accountancy in the United Kingdom.
Sonya is a member of the Foundation of Administrative Justice (FoAJ) (Edmonton); she has completed several courses in administrative appeals and tribunals. She is also a member of the Institute of Corporate Directors (ICD) and in 2015 completed the Governance Program for Small and Medium Sized Enterprises through the University of Alberta Executive Education program.
Sonya was appointed to the Management Employees Pension Board (MEPB) in September 2011 as an employee representative. She currently serves as Board Chair. Her current term will expire on December 31, 2020.
Deborah Polny
Board Vice-Chair
Deborah Polny, Board Vice-Chair
Ms. Polny completed her law degree from the University of Alberta (with Distinction) and currently holds the position of Legal Counsel & Corporate Secretary at Alberta Blue Cross. In this role, she is responsible for advising on a variety of legal issues that affect the organization. As Corporate Secretary, she has extensive involvement in the organization’s corporate governance program. She has over 20 years of legal experience with leading organizations in Alberta including ATB Financial, Alberta Blue Cross and a prominent Edmonton law firm.
Having served as Assistant General Counsel at ATB Financial, she gained knowledge in the financial services industry, provided governance advice, was a member of its operational risk committee, and was the legal advisor responsible for development of the organization’s derivative program. She gained extensive experience with pension plans as a member of ATB’s Retirement Committee and Defined Contribution Committee (and through continuous learning and development). She has been a guest speaker at national conferences on corporate governance issues and received her Accredited Director designation (Acc. Dir) through the Institute of Chartered Secretaries’ Association (iCSA) Canada. She received her certificate in Foundations of Trust Management Standards (FTMS) and Advanced Trust Management Standards (ATMS) (Level 1) from the International Foundation of Employee Benefits. She is a member of the Legal and Legislative Committee of the Canadian Life and Health Insurance Association Inc.
Ms. Polny is aware of the importance that public sector governance plays to Albertans and looks forward to serving the Board. She was appointed to the Management Employees Pension Board, as an Employer nominee, effective January 1, 2018. This term expires on December 31, 2020.
Michael Lundquist (BSc, MBA, CMA)
Investment Committee Chair
Michael Lundquist (BSc, MBA, CMA), Investment Committee Chair
Mr. Lundquist holds the position of Executive Director - Retail and Distribution with the Ministry of Energy. Previous to this, his roles include Executive Director - Capital Planning for the Ministry of Infrastructure, Senior Financial Officer for the Ministry of Transportation and Chief Information Officer for the Ministries of Infrastructure and Transportation. He has over 20 years of senior management experience in various positions across both government and the private sector. He has been the Investment Vice-chair with the Management Employee Pension Plan since 2014, the Chair of the Computer Engineering Technology industry advisory board at NAIT (2006-2016) and a board member on the Alberta Baroque Music Society since 2011. He holds a Bachelor of Science with Specialization, an MBA and is a Certified Management Accountant (CMA).
Michael was appointed to the Board in January 2015 as an employee representative. His current term will expire on December 31, 2018.
Andrew Tambone (B.A., CFA)
Investment Committee Vice-Chair
Andrew Tambone, (B.A., CFA) Investment Committee Vice-Chair
Mr. Tambone holds the position of Chief Investment Officer (CIO) for the Workers’ Compensation Board—Alberta (WCB Alberta). Andrew is a seasoned capital market professional with a particular focus in fixed income. He joined WCB Alberta in 2006 as Head of Fixed Income Investments prior to becoming the CIO. Previously, Andrew was the Portfolio Manager, Fixed Income for the Nova Scotia Public Service and Teachers Pension Funds in Halifax, Nova Scotia. He also spent 13 years in Toronto as a fixed income professional responsible for trading bonds with global institutional investors.
In his role as CIO, Andrew is responsible for the development and implementation of long-term investment and asset-liability management strategies for the WCB Alberta’s $11.3 billion Accident Fund and advises the Executive and Board of Directors on Investment Policy.
Andrew serves as an external member on the Investment Committee of the Universities Academic Pension Plan. He holds a B.A. (Hons) in Business Studies from the University of Westminster, London, England. In addition, he holds a Chartered Financial Analyst (CFA) designation. Andrew was appointed to the Management Employees Pension Board, as an Employee nominee, effective January 1, 2018. This term expires on December 31, 2020.
Kim Flynn (B.Comm, CEBS, RPA, GBA)
Board Member
Kim Flynn (B.Comm, CEBS, RPA, GBA), Board Member
Ms. Flynn brings to the MEP Board over 20 years of experience in pension and benefits management with leading organizations in both the public sector (Government of Alberta) and large corporations within the private sector. She is a seasoned Board member, commencing with MEPB in 2012.
Kim currently holds the position of Pension Advisor for the Alberta Public Service Commission. Her responsibilities include leading the development of the employer’s pension policies and programs, consulting with both internal and external clients, and working with Service Alberta payroll services and Alberta Pensions Services Corporation (APS) on administrative matters, pension polices, and systems. Her role also includes liaising with Alberta Treasury Board and Finance on employer/sponsor-related issues; it is both strategic and analytical, successfully completing many major public sector and pension projects.
Kim is dedicated to continuous learning and development, and has completed several pension, investment, and governance courses. She is currently working towards the Professional Director Education and Certification Program (Pro. Dir.), and a certificate in Tribunal Administrative Justice (CTAJ). She holds a Bachelor of Commerce, Certified Employee Benefits Specialist (CEBS), Retirement Plans Associate and the Group Benefits Associate designations from IFEBP and Dalhousie University. Kim also currently serves on the Advisory Committee for the Supplementary Retirement Plan (SRP) for Public Service Managers.
Kim was appointed to the Board in September of 2012 as the Deputy Minister, Public Service Commissioner’s Nominee. Her current term will expire on June 30, 2020.
Shannon Patershuk
Board Member
Shannon Patershuk, Board Member
Shannon Patershuk is an actuarial consultant in Edmonton with extensive professional experience in financial risk management, communications, calculating pension plan valuations, and appeal consultations (including as a witness) in various fields. Her financial risk management experience includes many senior management positions with a major insurance company, working with major consulting firms in pension and benefits specialities, consultation and communications with benefits committees and boards, and organizing industry conferences. She has worked with a diverse clientele spanning many industries, including non-profit organizations and associations.
As an active member of the Canadian Institute of Actuaries (CIA), she is recognized for her active participation on volunteer committees. In addition to her professional qualifications as a Fellow of the CIA and Society of Actuaries (SOA), she qualified for the actuarial designation in Enterprise Risk Management (Chartered Enterprise Risk Analyst) from the SOA.
She is a graduate of the University of Manitoba with a Bachelor of Commerce Hons. Degree, majoring in Actuarial Science and Marketing. More recently, she achieved her MBA in Community Economic Development from Cape Breton University. Shannon has resided in Edmonton with her family for over 30 years.
Shannon was appointed to the Management Employees Pension Board as an Employer nominee, effective January 1, 2018. This term expires on December 31, 2020.
Don Smallwood
Board Member
Don Smallwood, Board Member
Mr. Smallwood has over 35 years of experience in all aspects of global HR management. He retired as Vice-President, Human Resources from EnCana Corporation where he served as Secretary of the Board's Compensation and Pension Committees, and as a Director of EnCana Services Limited. He is also a Director of SCM Insurance Services and Chair of the Corporate Governance & Compensation Committee. Prior board experience includes as a Director of Discovery House (Calgary Family Violence Prevention Society) and as Director of the Pigeon Lake Watershed Association. He holds a B. Com, MBA plus CHRP and ICD.D designations.
Don was first appointed to the MEP Board on December 12, 2007 as an employer representative and currently holds the position of Board Vice-Chair. In previous terms he has held the position of Board and Investment Committee (IC) Chair. His current term will expire on November 30, 2018.
