Board of Trustees

The HOOPP Board of Trustees is responsible for overseeing all aspects of the Plan and the HOOPP Fund. As a member of the Board governing the trust, each HOOPP trustee is a fiduciary and, as such, acts solely in the best interests of the Plan members. The constant focus of the Board is on the importance of maintaining a financially secure retirement for HOOPP members. The Board is responsible for all aspects of the Plan and the multi-billion dollar HOOPP Fund HOOPP's Board:

• Establishes investment policy

• Approves contribution rates and plan design

• Monitors investment performance

• Makes plan changes

• Oversees administration of the Plan and Fund in accordance with legislation, the HOOPP Agreement & Declaration of Trust and the HOOPP Plan Text.

There are eight trustees appointed by the Ontario Hospital Association (OHA) and four unions each appoint two trustees. The unions are:

• Ontario Nurses' Association (ONA)

• Canadian Union of Public Employees (CUPE)

• Ontario Public Service Employees Union (OPSEU)

• Service Employees International Union (SEIU)

In addition, there can be up to eight non-voting pension observers on the Board.

HOOPP Staff

HOOPP employees provide day-to-day investment and pension administration services under the direction of the President & CEO. HOOPP staff:

• Manage the multi-billion-dollar HOOPP Fund as per the investment guidelines established by the Board of Trustees

• Process member benefits

• Provide administrative and educational support to more than 570 employers

• Administer monthly pensions for retired members

• Ensure HOOPP complies with pension and related legislation

• Assess the Plan’s long-term financial status

• Maintain records for all contributing members

• Issue an annual statement to every HOOPP member

• Respond to all member inquiries

Employers

While HOOPP handles many of the tasks and functions associated with administering the Plan, participating employers have an important role to play in the day-to-day operation of the Plan at their organizations. To administer HOOPP, employers are asked to follow HOOPP’s policies and procedures, the HOOPP Plan Text, as interpreted and applied by the Board of Trustees of HOOPP, the HOOPP Agreement & Declaration of Trust, this Administration Manual, the instructions in the Employer Learning Centre, and other material released by HOOPP.

Employers play a key role in supporting the delivery of the pension promise and compliance with regulatory requirements. Employer responsibilities include:

• Fulfilling the commitments set out in their participation agreement with HOOPP

• Informing all eligible employees of their right and opportunity to join HOOPP, including part-time and non full-time employees

• Ensuring the accurate calculation and timely remittance of monthly employer and member contributions

• Submitting timely information to HOOPP that triggers such events as a member’s enrolment, retirement or termination from the Plan

• Providing HOOPP with complete, accurate and timely data required to complete pension transactions

• Employers are required to provide members who made contributions to HOOPP's retirement compensation arrangement (RCA) with personalized RCA Notices. The RCA Notices Report can be accessed in HOOPP Insight using the Report Generator.

• Ensuring that HOOPP has current and complete contact information for employer contacts and members

• Responding to any information requests from HOOPP for the administration of HOOPP benefits

• Responding to any requests from the Financial Services Regulatory Authority of Ontario (FSRA)

The Ontario Pension Benefits Act (PBA) authorizes FSRA to levy penalties when specific requirements of the PBA are not met, including obligations that fall to employers. Generally, these apply to requirements to provide information to HOOPP, the timelines for remitting contributions and the need to provide information to your employees as set out above.