May 27, 2014


Specified Plan Changes

None of the previously tabled Specified Plan Change proposals (SPCs) which had been posted on the SC website on May 15 were amended or withdrawn. Although the SC has committed to deferring final decisions about SPCs until the June Board meeting, Members discussed plan sustainability, developments at other multi-employer pension plans, and received information about stakeholder views and suggestions regarding the SPCs.


OAC Board Nominations

The Board received an update on the status of the upcoming nominations for five OAC Director positions.  Some changes to the nomination process were approved:  specifically, the SC will now be responsible for initiating background checks and a policy related to certain nominee expenses for attending an interview with the Corporate Governance Committee was approved.


Collaboration with the OAC Board

The Chair of the OAC Board meets regularly with the SC Board to discuss matters of mutual interest and to ensure open and transparent communication between the two Boards.  At this meeting, Mr. Cooke provided an update on current activity and areas of focus at the OAC Board. Plans for a joint strategic planning session later in the year were discussed and efforts will be made next year to schedule meetings of both Boards in such a way that joint education sessions are easier to arrange.

Posted May 27, 2014