The Board has seven members, comprised of three employee nominees and three persons nominated by Government and one non-voting member nominated by the Public Service Commissioner's Office. The Act's Legislative Provisions Regulation requires that the offices of Board Chair and Vice-Chair rotate every two years between employer and employee nominees.
The Board has legislated responsibilities for the Management Employees Pension Plan and some legislated responsibilities for the Public Service Management (Closed Membership) Pension Plan. The mandate of the Board, as established under the Public Sector Pension Plans Act ("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 the 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”); including Plan Rules adjusting contribution rates to ensure that the MEPP is funded;|
|1.2.2||conducting an actuarial valuation with respect to the 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 the MEPP; and|
|1.2.6||the cost to be charged for the administration of the Closed Plan.|
|1.3||review administrative decisions for the 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 the MEPP that it considers should be followed.|
The responsibility of the Board's Investment Committee is to:
- Monitor and evaluate the investment performance of the Fund (returns and risk) 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.
In keeping with good governance practices, the Board has its own Code of Conduct and Conflict of Interest Policy to guide Board and Committee members.
Promised benefits will be paid.
To provide prudent governance of the Management Employees Pension Plan Fund and the Public Service Management (Closed Membership) Pension Plan.
Board Mandate and Roles
The 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.
2017 Board Members
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, 2017.
Don Smallwood (MBA, BCom, CHRP, ICD.D), Board Vice-Chair
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.
Kim Flynn (B.Comm, RPA, GBA), Board Member
Mrs. Flynn brings to the MEP Board over 20 years of experience in pension and benefits management with leading organizations in both the public and private sectors, including Crown Life, Canada Life, Great West Life, Air Canada Jazz and the Government of Alberta. She currently holds the position of Pension Advisor for Alberta Corporate Human Resources. In this role, Kim is involved in leading the development of the employer's pension policies and programs, providing consulting services to both internal and external clients, working with Service Alberta payroll services and Alberta Pensions Services Corporation on administrative matters. Her role includes liaising with Alberta Treasury Board and Finance on employer/sponsor-related issues. She is dedicated to continuous learning and development. Kim is currently working towards the Certified Employee Benefits Specialist (CEBS) designation, the Professional Director Education and Certification Program and the certificate in Tribunal Administrative Justice (CTAJ). She holds a Bachelor of Commerce, 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 for Public Service Managers.
James Fleming (BA), Investment Committee Chair
Jamie Fleming spent the vast majority of his career at the University of Alberta as Director of Investments & Real Estate, managing the University's Endowments and non-Campus real estate assets. He concluded his time at the University as Associate Vice-President, responsible for all of the University's Physical Resources.
Michael Lundquist (BSc, MBA, CMA), Investment Committee Vice-Chair
Mr. Lundquist holds the position of Senior Financial Officer for the Ministry of Transportation. Previous to this, his role was 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 Chair of the Computer Engineering Technology industry advisory board at NAIT since 2006 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).
Plan Board Staff
Plan Board Specialist
Plan Board Assistant
Advisors and Suppliers
Alberta Pensions Services Corporation (APS)
Alberta Investment Management Corporation (AIMCo)
Auditor General of Alberta
Aon Consulting Inc.
Ellement Consulting Group