Plan
governance
The Pension Board is the legal administrator of the Plan. The main duties include complying with Pension Benefits Act requirements, appointing service providers, interpreting Plan provisions, reviewing the Plan with the actuary at least every three years, and holding meetings as necessary to fulfill these responsibilities.
The Board consists of eight members: three employer representatives and three employee representatives elected by the Pension Committee, one Chair appointed by the Lieutenant-Governor in Council and one staff member from the New Brunswick Department of Finance and Treasury Board.
Current members of the Pension Board:
- Vacant, Chair
- James Barrington, Vice-Chair, Employee Representative, Town of Grand Bay-Westfield
- Emil T. Olsen, Employer Representative, Town of Quispamsis
- Kevin Darling, Employer Representative, Kennebecasis Regional Joint Board of Police Commissioners
- Jocelyne Bourque, Employer Representative, Town of Cap-Acadie
- Mike O’Brien, Employee Representative, Kennebecasis Valley Fire Department
- Andrew Hawkes, Employee Representative, Oromocto Fire Department
- Erin Burke, Department of Finance and Treasury Board
The Pension Board is the legal administrator of the Plan. The main duties include complying with Pension Benefits Act requirements, appointing service providers, interpreting Plan provisions, reviewing the Plan with the actuary at least every three years, and holding meetings as necessary to fulfill these responsibilities.
The Board consists of eight members: three employer representatives and three employee representatives elected by the Pension Committee, one Chair appointed by the Lieutenant-Governor in Council and one staff member from the New Brunswick Department of Finance and Treasury Board.
Current members of the Pension Board:
- Vacant, Chair
- James Barrington, Vice-Chair, Employee Representative, Town of Grand Bay-Westfield
- Emil T. Olsen, Employer Representative, Town of Quispamsis
- Kevin Darling, Employer Representative, Kennebecasis Regional Joint Board of Police Commissioners
- Jocelyne Bourque, Employer Representative, Town of Cap-Acadie
- Mike O’Brien, Employee Representative, Kennebecasis Valley Fire Department
- Andrew Hawkes, Employee Representative, Oromocto Fire Department
- Erin Burke, Department of Finance and Treasury Board
The Pension Committee consists of two representatives from each participating employer: one employer representative and one employee representative.
The Pension Committee meets every second year to elect representatives from the committee to the Pension Board for four-year terms. The Chair of the Pension Board is also the Chair of the Pension Committee.
Custodian
CIBC Mellon, the Custodian, ensures all Plan assets are held in trust for the benefit of Plan members. This includes managing contributions from members and employers, collecting investment income and handling all required payments.
Investment Managers
Investment Managers invest money in compliance with the Plan’s Statement of Investment Policy and Goals (SIP&G).
The Plan Investment Managers are:
- Fidelity for Equity investments;
- Connor, Clark & Lunn (CC&L) for Fixed Income investments;
- Invesco for Real Estate investments; and
- IFM for Infrastructure investments.
Actuary
TELUS Health, the Actuary, conducts annual actuarial valuations, assesses funding levels, recommends contribution rates, analyzes Plan risks and provides strategic advice.
Auditor
KPMG, the Auditor, reviews the Plan’s financial records and produces audited statements to confirm all financial reporting is accurate and complete.
New Brunswick Municipal Employees Pension Plan Actuarial Valuation as at:
New Brunswick Municipal Employees Pension Plan Audited Financial Statements as at: