Withdrawal credits are the portion of an individual’s assets in a pension that the employee is entitled to withdraw when they leave a company. They are drawn from the fields of business management, finance, investment management, actuarial science, economics, education and … Ms. Forbes was previously the Global Chief Analytics Officer for Manulife. In a stock savings plan, certain Canadian provinces provide tax credits to residents who buy in on initial public offerings (IPOs) of local companies. John joined the Bank of Canada in 1980 and held progressively senior roles in his 34-year career. Accessed Feb. 12, 2020. Ontario Teachers' also invests the plan's pension fund, and it is one of the world’s largest institutional investors. Steve is currently a member of the Queen's University Cabinet and Senior Advisor to Lazard Canada Inc. In 2009 she received the World of Difference Award from the International Alliance for Women. Patti Croft has extensive expertise in global macroeconomics and the financial sector. Lise earned a B.Sc. He is currently Chair of the Independent Review Committee for the Sun Life Investment Management Institutional Pooled Funds and is on the Advisory Committee of GreenSky Capital Inc. Cathy Cranston is an independent public company board Director for Toromont Industries Ltd. and sits on Toromont's Audit, and Nominating and Governance Committees. We also reference original research from other reputable publishers where appropriate. ONTARIO TEACHERS' PENSION PLAN BOARD - Free company information from Companies House including registered office address, filing history, accounts, annual … Accessed Feb. 12, 2020. "Plan Governance." Kathleen O'Neill is an experienced corporate director, and is currently on the boards of Finning International Inc. and ARC Resources Ltd. She was Executive Vice President, Personal & Commercial Development and Head of Small Business Banking at BMO Bank of Montreal until January 2005, and a partner at PricewaterhouseCoopers prior to that. She is a technology expert with a global perspective in marketing and revenue management and e-commerce. He is a graduate of the Institute of Corporate Directors and holds a Master of Education from Western University. Accessed Feb. 12, 2020. In 2004 Steve received the Distinguished Service Award from the Province of Saskatchewan in recognition of his outstanding contributions to numerous public projects. Top 10 Stocks Held By Ontario Teachers Pension Plan Board By Holdings Channel Staff, updated Thursday, December 24, 8:11 AM "About Private Capital." Boston Consulting Group. Patti has been the Chief Economist with RBC Global Asset Management; Phillips, Hager and North; Sceptre Investment Counsel and TD Canada Trust. in Mathematics from l'Université de Montréal and completed graduate studies in Business Administration at Hautes Études Commerciales (HEC) in Montreal. Over her more than 35 year career with Air Canada, Lise has held increasingly senior positions in Technology, Strategic Planning and Passenger Commercial. Like any pension fund, OTPPB’s fundamental goal is to manage funding risk, the risk that assets and returns fail to satisfy the plan’s obligations to its participants. She holds an Honours Bachelor of Mathematics degree from the University of Waterloo. The Employee Benefits Security Administration (EBSA) oversees and enforces provisions of the Employee Retirement Income Security Act of 1974 (ERISA). (Honours) from the University of Manitoba and holds the Institute of Corporate Directors designation (ICD.D). He is an adjunct professor at Queen's University, as well as a visiting scholar and adviser at the International Monetary Fund. Statistics Canada. Bill also started the Mercer Investment Consulting practice. This often means that the board will enter into deals directly rather than use a private equity firm as an intermediary. His previous board experience includes Enbridge Income Fund Holdings, Ontario Power Generation, Operation Springboard, the Centre for Addiction and Mental Health (CAMH), The Toronto Symphony Orchestra, and the Holland Bloorview Foundation. The Ontario Teachers' Pension Plan Board (Ontario Teachers') is the administrator of Canada's largest single-profession pension plan, with C$204.7 … Lise Fournel was Senior Vice-President and Chief Information Officer at Air Canada until early 2017. Accessed Feb. 11, 2020. Ontario Teachers' Pension Plan. Ontario Teachers’ Pension Plan purchased a majority stake in Nvision Eye Centers, a provider of comprehensive eyecare services in the western U.S. As part of the transaction, Nvision founder, Dr. Tom Tooma, will retain a significant minority position in Nvision and he will serve as the chief medical officer and a member of the board […] ONTARIO TEACHERS' PENSION PLAN BOARD - Free company information from Companies House including registered office address, filing history, accounts, annual … Accessed Feb. 11, 2020. She is also a member of the Accounting Advisory Committee for the ICD and sits on CPA Canada's Corporate Oversight and Governance Advisory Board. OTPPB has also achieved success by maintaining a board that has avoided political concerns that have often struck other public pension institutions. They are drawn from the fields of business management, finance, investment management, actuarial science, economics, education and accounting. The Ontario Teachers' Pension Plan is Canada's largest single-profession pension plan. John Murray served as Deputy Governor of the Bank of Canada from 2008 until his retirement from the Bank in 2014. In 2014, 2015 and 2016 she was selected as one of Canada's Top 100 Most Powerful Women by WXN, and was inducted into their Hall of Fame in 2017. He has an MPA and BA (Hons) from Queen's University. Kathleen is a chartered accountant (CPA), a Fellow of the Institute of Chartered Accountants of Ontario (FCPA), and holds the Institute of Corporate Directors designation (ICD.D). George Lewis enjoyed a thirty-year career as a professional and executive leader with RBC, one of Canada's largest financial institutions, before retiring in 2016 to focus on serving as a corporate director. When it comes to investing, the Ontario Teachers' Pension Plan Board gets top marks. A 403(b) plan is similar to a 401(k) but is designed for certain employees of public schools and tax-exempt organizations among other differences. *By clicking this link you will be leaving the Ontario Teachers' Pension Plan site and going to a third party site. "Career Opportunities." He started his career at Mercer where he had account responsibility for some of the largest pension plans in Canada. During his career, he was an active participant on the Ontario Teachers' Federation Executive and on its Board of Governors. Accessed Feb. 12, 2020. Gene gained extensive experience and expertise in the Ontario Teachers' Pension Plan by serving on committees such as the Ontario Teachers' Sustainability Workgroup and the Partners' Consultative Committee. George earned a MBA degree with distinction from Harvard University and a Bachelor of Commerce degree with high distinction from Trinity College at the University of Toronto. from the University of Toronto. "Compensation and Benefits Managers." The Ontario Teachers’ Pension Plan Board (OTPPB) administers the defined benefit plan shared by teachers at public schools in Ontario, the most … Ontario Teachers Pension Plan Board 13F annual report Ontario Teachers Pension Plan Board is an investment fund managing more than $4.67 billion ran by Rossana Lieto. Detailed information on the Board's responsibilities, plan governance and controls, enterprise risk management, executive compensation, transparent reporting and audit integrity is available in the Plan Governance section of our annual report . Her prior Board experience includes Bank of Montreal (Barbados) Limited, Bank of Montreal Mortgage Corporation, BMO Trust Company, BMO InvestorLine, BMO Harris Investment Management Inc., and BMO Nesbitt Burns Financial Services Inc. Cathy obtained an MBA and B.Comm. She earned a B.Comm. He is a Fellow of the Institute of Chartered Accountants (FCA), a CFA charter-holder and is certified by the Institute of Corporate Directors. The Ontario Teachers’ Pension Plan Board oversees the retirement plan that was established for the benefit of public school teachers in Ontario., The Ontario Teachers’ Pension Plan Board (OTPPB) administers the defined benefit plan shared by teachers at public schools in Ontario, the most populous province in Canada.  The board was established in 1990 and has since become one of the largest investment funds in Canada. , As of the beginning of 2020, the pension plan held approximately CA$191 billion in investments. It holds a diverse global portfolio of assets, approximately 80% of which is managed in-house, and has earned an annual total-fund net return of 9.5% since the plan's founding in 1990. PDG has entered into definitive agreement for a new US$360M equity investment led by Ontario Teachers’ Pension Plan Board and Warburg Pincus Release Summary. A pension plan is a retirement plan that requires an employer to make contributions into a pool of funds set aside for a worker's future benefit. The independent organization was founded in 1990 to manage and administer the Ontario Teachers' Pension Plan (Teachers' for short), which serves some 295,000 current and retired teachers and their families. Steve McGirr was Senior Executive Vice-President and Chief Risk Officer of CIBC until 2007. ABOUT ONTARIO TEACHERS’ The Ontario Teachers’ Pension Plan Board (Ontario Teachers’) is the administrator of Canada’s largest single-profession pension plan, with $207.4 billion in net assets (all figures at December 31, 2019). A significant part of OTPPB's mandate at its inception was to create a more sophisticated and diversified investment regime. At the same time, the plan’s obligations to current and future retirees require it to maintain a conservative approach to risk. These include white papers, government data, original reporting, and interviews with industry experts. Patti holds a Bachelor's degree in Economics from the University of Toronto and the Institute of Corporate Directors designation (ICD.D). Ontario Teachers' Pension Plan. These assets serve the needs of more than 300,000 retirees and employees.  Prior to the establishment of OTPPB, teachers’ pensions were managed wholly by the provincial government.. Prior to that, he was President of CIBC World Markets, and held a number of key leadership positions over a 24-year career at CIBC World Markets and Wood Gundy. An independent organization, it invests the pension fund's assets and administers the pensions of 329,000 active and retired teachers in Ontario. Accessed Feb. 12, 2020. Accessed Feb. 12, 2020. Accessed Feb. 12, 2020. The Ontario Teachers' Pension Plan Board (Ontario Teachers') is the administrator of Canada's largest single-profession pension plan, with $204.7 billion in … U.S. Department of Labor Statistics. You can learn more about the standards we follow in producing accurate, unbiased content in our. ONTARIO TEACHERS' PENSION PLAN BOARD - Free company information from Companies House including registered office address, filing history, accounts, annual … It is an independent organisation that invests the pension fund’s assets and administers the pensions of 303,000 active and retired teachers in Ontario. "The Value of A Good Pension," Pages 4, 55. Airports currently under active management by the London-based team include Birmingham, Bristol, Brussels, Copenhagen and the recently acquired London City. Cathy’s prior business experience includes executive roles as Head of Investor Relations, CFO of the Bank's Wealth Management business, VP of Integrated Risk Management, as well as senior roles in capital markets and corporate banking. The plan is a multi-employer pension plan, jointly sponsored by the Government of Ontario and the Ontario Teachers' Federation. She began her career at Burns Fry before moving on to CIBC Wood Gundy. Ontario Teachers' Pension Plan is Canada's profession pension plan set up by its two sponsors, the Ontario government and Ontario Teachers' Federation. She is a past director and founding member of Women in Capital Markets and past director of the International Foundation for Employee Benefit Plans, Canadian Medical Association Holdings Inc. and the Boilermakers' National Pension Plan Canada. Kathleen is on the Ontario Advisory Council for the Institute of Corporate Directors (ICD) and is a frequent instructor and examiner for the ICD. Accessed Feb. 11, 2020. After completing his PhD, John taught at the University of British Columbia as an assistant professor and at the University of North Carolina as a visiting assistant professor. She is a Fellow of the Society of Actuaries and a Fellow of the Canadian Institute of Actuaries, and is the current Chairperson of the Board of Governors at University of Waterloo. Ontario Teachers Pension Plan Board Info: Size ($ in 1000's) At 09/30/2020: $6,515,689 At 06/30/2020: $4,996,704 Combined Holding Report Includes: ONTARIO TEACHERS PENSION PLAN BOARD 1700480 ONTARIO INC OTPP Environmental Services Trust 2605267 Ontario Ltd Board members have tended to come from finance backgrounds rather than political or public service. Large funds in the United States, by contrast, tend to have boards drawn from a wider range of backgrounds, often leading to conflicts in oversight. Managing investments directly allows OTPPB to keep costs low and to keep to a long-term approach that can conflict with the investment strategies of non-pension funds.. Board oversight responsibilities are defined in the Mandate of the Ontario Teachers' Pension Plan Board. Kathleen is past chair of both St Joseph's Health Centre Foundation and St. Joseph's Health Centre in Toronto and served on the board of Cadillac Fairview until early 2017. That site may have legal and privacy policies that are different from those of the Ontario Teachers' Pension Plan. The Ontario Teachers' Pension Plan Board (Ontario Teachers') is the administrator of Canada's largest single-profession pension plan, with $204.7 billion in net assets (all figures at June 30, 2020 unless noted). The offers that appear in this table are from partnerships from which Investopedia receives compensation. Ontario Teachers' Pension Plan. OTPPB executive pay is competitive with Bay Street, the investment community in Toronto, and is structured to reward long-term returns. Pension managers in the United States, for comparison, tend to receive compensation far below the norms of Wall Street.. Bill Chinery was CEO of BlackRock Asset Management Canada until early 2013. She was also President of Destina.ca. Under the government's oversight, the pension fund invested exclusively in low-risk government bonds. The OTPPB manages a variety of assets, including international equities, bonds, commodities, and real estate. Macquarie Infrastructure and Real Assets (“MIRA”), via Macquarie European Infrastructure Fund 4, has reached an agreement to sell its 69.4 per cent interest in Società Gasdotti Italia S.p.A (“SGI”) to Ontario Teachers’ Pension Plan Board (“Ontario Teachers'”). from Queen's University, and an MA and PhD in Economics from Princeton University. Understanding the Ontario Teachers' Pension Plan Board (OTPPB), How Withdrawal Credits for Pension Plans Work, Employee Benefits Security Administration (EBSA), Population and Dwelling Count Highlight Tables, 2016 Census, Measuring Impact of Canadian Pension Funds, Ontario Teachers’ net assets at $191.1 billion at year-end 2018. As Chief Analytics Officer, she built the team that uses predictive modelling and machine learning to drive value for the company. Accessed Feb. 11, 2020. Gene also previously served as President of the Ontario Public School Teachers' Federation. "Teachers eyes new tack after 25 years." He formerly served as Director and Investment Committee Chair of Wellspring, a cancer support network. "Ontario Teachers’ net assets at $191.1 billion at year-end 2018." He also lectured at Princeton University. Steve has served as a director of two public companies: TrustMark Auto Group Inc. and First Caribbean International Bank, as well as private companies including CIBC Offshore Banking Services Corporation (Barbados), CIBC Offshore Services Inc. and CIBC World Markets Plc (UK). Lise sits on the board of Desjardins Financial Security and is a member of the Technology Committee on the board of l'Université de Montréal. John holds a B.Comm. Healthcare of Ontario Pension Plan. Board Members Experience, expertise and professionalism Board members have extensive experience in a wide range of disciplines required to oversee a complex pension plan. Cathy is a former Treasurer of BMO Financial Group (BMO), where she was a senior executive with 32 years of experience. George serves on the board of Legal & General Group plc, the AOG Group, a private Europe-based company, and two not-for-profit organizations, the Canadian Film Centre and the Anglican Diocese of Toronto Foundation. A liability-driven investment or investing is primarily slated toward gaining enough assets to cover all present and future liabilities. Ontario Teachers' Pension Plan Board provides pension services for teachers. The Ontario Teachers' Pension Plan Board (French: Régime de retraite des enseignantes et des enseignants de l'Ontario) is an independent organization responsible for administering defined-benefit pensions for school teachers of the Canadian province of Ontario. "About Ontario Teachers'." Bill holds a BMath from the University of Waterloo, is a Fellow of the Society of Actuaries, a Fellow of the Canadian Institute of Actuaries, and holds the Institute of Corporate Directors designation (ICD.D). Patti is Vice Chair of the Ontario Pension Board. OTPPB now manages a variety of assets, including international equities, commodities, natural resources, and real estate., OTPPB was an early pioneer in the development of a pension management style known as the Canadian Model. Other pension funds such as the Ontario Municipal Employees Retirement System (OMERS) have followed suit, and Canadian plans have achieved a global reputation as leaders in effective and responsible management. The OTPPB describes the pillars of this system as independence, strong internal governance starting with board members, direct investment and a focus on retaining talent., In practice, the first step in this innovation was to bring investment management almost entirely in-house. "Board Members." There are currently 350 companies in Mrs. Lieto’s portfolio. What Is the Ontario Teachers' Pension Plan Board? Finally, OTPPB’s version of the Canadian Model includes executive pay that is out of scale with its counterparts in the United States. Ontario Teachers' Pension Plan. Accessed Feb. 12, 2020. Ontario Teachers' Pension Plan. In 2002, Gene was awarded the Queen's Golden Jubilee medal in recognition for his service to education. Member, Audit & Actuarial and Governance Committees, Chair, Human Resources & Compensation Committee, Member, Audit & Actuarial and Operational Risk Committees, Member, Audit & Actuarial and Human Resources & Compensation Committees, Member, Audit & Actuarial, Human Resources & Compensation and Operational Risk Committees, Member, Governance and Human Resources & Compensation Committees, Vice-Chair, Benefit Adjudication Committee, Member, Human Resources & Compensation and Operational Risk Committees. Ontario Teachers' Pension Plan. She spent over 35 years with Manulife including six years as Chief Actuary subsequent to holding senior finance roles in the company’s Asia, Reinsurance, Investment and U.S. divisions. and M.Sc. "Investment Strategy." Ontario Teachers' Pension Plan. He served as General Secretary of the Elementary Teachers' Federation of Ontario from 1998 until his retirement in 2013. She was previously also a board member at Invesco Canada Funds. The Ontario Teachers’ Pension Plan Board (Ontario Teachers’) is the administrator of Canada’s largest single-profession pension plan, with C$204.7 billion in net assets (all figures at June 30, 2020 unless noted). Its purpose is to secure the future for Ontario's teachers. Investopedia requires writers to use primary sources to support their work. Transitional return for BR013207 - person authorised to represent, Melissa Jane Kennedy Ontario Teachers Pension Plan Board, 5650 Yonge Street Ontario M2M 4HS Canada This document is not available online but it may be possible to order a copy from the … SINGAPORE--(BUSINESS WIRE)--Ontario Teachers’ Pension Plan Board (Ontario Teachers’) opens a new office in Singapore today to enhance its existing capabilities in the Asia Pacific (APAC) region. With C$171 billion ($131 billion) in assets, OTPP is the largest single-profession pension plan in Canada. 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