2. Administrative Overview

Board of Trustees

The HOOPP Board of Trustees governs the Plan and Fund with the important focus of meeting our mission to deliver on the pension promise. The Board’s duties include:
• Approving changes to the Plan and benefits
• Setting contribution levels
• Establishing investment policy
• Monitoring investment performance
• Approving annual operating budgets
HOOPP's President & CEO reports directly to the Board of Trustees. See hoopp.com for additional information - HOOPP Board of Trustees.

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 670 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 and employer 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)

At all times, employers are responsible for all work done and all information provided by any third party retained by them to support these employer responsibilities.

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.