The Board

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:
    1. MEPP Investment Policy;
    2. Investment Management Agreement with AIMCo;
    3. Strategies, practices and processes to manage the investment risks of the Plan or to improve the effectiveness of investment governance; and
    4. 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.

Board Structure

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

Deborah Polny

Board Vice-Chair

Michael Lundquist (BSc, MBA, CMA)

Investment Committee Chair

Andrew Tambone (B.A., CFA)

Investment Committee Vice-Chair

Kim Flynn (B.Comm, CEBS, RPA, GBA)

Board Member

Shannon Patershuk

Board Member

Don Smallwood

Board Member

Plan Board Staff

Brenda Chisholm

Director

Matea Maric

Senior Plan Board Specialist

Julia Qiu

Plan Board Research Analyst