Board committees
The College Pension Board of Trustees has several committees that make recommendations to the board on issues affecting BC's College Pension Plan.
Members of the College Pension Board of Trustees participate in board committees, which meet regularly throughout the year to review specific areas of pension plan administration. These committees make recommendations to the board and approve matters through the authority delegated to them by the board.
Trustees may also participate in interplan committees, which include representatives from other public sector pension plans.
Trustees serve on the following committees:
Benefits committee
The benefits committee reviews and makes recommendations to the board on amendments to the pension plan rules that affect benefit entitlements and administration. The committee also reports to the board on group extended health and dental benefit plan design, coverage levels and cost.
Communications committee
The communications committee supports the board in its commitment to provide excellent communications to plan members, employers and stakeholders. The committee provides input on strategic messaging, reviews plan communications materials and (with delegated authority from the board) approves some communication materials. Finally, the committee monitors communication material for the principles of plain language, plan identity and best practices.
Governance committee
The governance committee helps the board fulfill its governance responsibilities by formalizing regular consideration of issues such as board policy development and review, the risk management process and development of the board's self-assessment tools.
Interplan committees
Executive forum
The executive forum discusses areas of common interest among College, Municipal, Public Service and Teachers' pension plans and provides an opportunity for board chairs, vice-chairs and senior administrators from their secretariats to keep up with the activities of the boards.
Interplan audit committee
This committee includes representatives from the College, Municipal, Public Service and Teachers' pension boards of trustees, and it:
- Monitors and reports to the boards about the compliance of financial statements to generally accepted accounting principles
- Recommends and monitors the performance of an independent auditor
- Identifies, monitors and reports to the pension plan boards on the management of the principal risks that could impact the financial reporting of the pension plans
Interplan coordination committee
This committee facilitates communication to ensure that the College, Public Service and Teachers' pension boards of trustees meet their common governance and operational requirements. Additionally, it oversees the operation of the Pension Board Secretariat.
Interplan investment committee
This committee provides a forum for considering investment issues common to the College, Public Service and Teachers' pension boards of trustees.
Interplan trustee education committee
This committee provides opportunities and advice to trustees on developing knowledge and skills. It also works on common educational issues.