Opb business report

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Provincial Judges Remuneration Commission the "Remuneration Commission" Compensation for Judges is determined through a commission process prescribed within the Framework Agreement. The Board is not responsible for managing the investment of the Fund.

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In the past, Board-related pension issues were typically raised by individuals and resolved in that context. Naturally, the Board views itself as the authority on the Plan and in the best position to assist clients in making informed decisions about their pension entitlement. As a result of these discussions, "management" has now been defined, but since the definition includes several parties e. Core Values The Board defines its core values as a commitment to: Excellence in client services delivery. Most recently the Board has taken steps to ensure its compliance with the Open Data Directive. Our focus on excellent client service delivery, effective stakeholder relations and good governance will help the government achieve its priorities in accountability, transparency and financial management, as well as TBS ' priority of modernizing frontline public services. All but one, are located in Toronto and can be easily accessed if the Board requires. In addition, the Board relies on OPB 's well-established privacy and disaster recovery policies that reduce the risks associated with a major event. Strategic Directions Mission of the Board To excel in the administration of pension benefits under the Plan by delivering high quality, cost-effective services to the beneficiaries of the Plan. The last remaining improvement opportunity to be considered is automating pension calculations to reduce risk and improve efficiency. Monitor Compliance- Pension plans provide members with a tax effective means to accumulate and then receive retirement savings in the future. The company, formerly known as Bay Cities National Bank, was founded in and is headquartered in Irvine, California. The Working Group is a forum for resolution of the issues identified within the court application that commenced November, An important part of plan administration is records management. This year the Chair will also attend the session to offer an opportunity to clients for direct feedback.

The Board will continue to proactively reach out to our stakeholders, engaging in dialogue about the Plan and its operations, building positive relationships and seeking opportunities for collaboration.

It was very productive and in has become a regular feature of our business planning process. Any additional cost generated by participation will require the Sponsors consent and approval.

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Implementation however, is a significant multi-year project that will start a year later in Governance and compliance demands on the Board have increased as the Province continues to clarify roles and responsibilities of its Agencies. Given those limitations, the Board is committed to obtaining an independent assessment of its risk exposure through regular internal audit. Provincial Judges Remuneration Commission the "Remuneration Commission" Compensation for Judges is determined through a commission process prescribed within the Framework Agreement. Strategy 3: Strengthen Plan Governance We are acutely aware that governance and accountability continues to be a priority for the government and its agencies, boards and commissions " ABC s". We are collecting more reliable cost information which we expect to have by early Beneficiaries may lack information they need to make informed decisions about how they plan for retirement and receive their entitlements. All pensions and survivor allowances are paid from the Fund and no payment may be made unless it is authorized by the Board or made in accordance with its established procedures. In the past, Board-related pension issues were typically raised by individuals and resolved in that context. Details concerning projected plan expenditures are presented in Table We take pride in the quality and professionalism of our work product. Core Values The Board defines its core values as a commitment to: Excellence in client services delivery. By taking advantage of planned OPB systems modifications beginning in the Board believes it can improve efficiency and reduce risk with a modest expenditure. Owing to its structure and mandate, the Board recognizes that it is reliant on both TBS and OPB processes and resourcing for compliance.

The Board continues to monitor its legal costs and the increasing administrative complexity associated with the delay and ongoing compliance with the Standstill Agreement. The PJPP provides benefits that exceed those permitted by a registered retirement plan under Canadian tax law.

Strategy 1: Deliver excellent cost effective client service Services offered by pension plan administrators are continually evolving in response to increasing needs of participants, who are looking to understand and make informed decisions about how they will receive their pension in retirement.

The Board recognizes the special circumstances that apply to judges and requires that OPB ensures personal information is adequately secured prior to transmission by mail or electronic means.

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The last remaining improvement opportunity to be considered is automating pension calculations to reduce risk and improve efficiency. On the recommendation of an internal audit fromthe Board has already completed a cost benefit analysis and is exploring the possibility of leveraging a systems modernization initiative currently underway at OPB.

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Our focus on excellent client service delivery, effective stakeholder relations and good governance will help the government achieve its priorities in accountability, transparency and financial management, as well as TBS ' priority of modernizing frontline public services. The Application has since been adjourned and the original Standstill Agreement, which was established to maintain administration of the Plan according to the old provisions, was extended to June 30, Executive Summary The Provincial Judges Pension Board " PJPB " or the "Board" is the trust agency responsible for the administration of pension benefits of retired provincial judges and their survivors. The Board will continue to document and approve its policies and ensure implementation of supporting procedures on an on-going basis. The Board is not responsible for managing the investment of the Fund. The Board relies on OPB practices for satisfaction of its responsibilities and will seek confirmation from OPB that it is, in fact, compliant and satisfying its obligations under the MOU. An important part of plan administration is records management. We are collecting more reliable cost information which we expect to have by early These Directives and Guidelines include, but are not limited to, the most recent versions listed within Appendix "B". The Plan and the Fund are administered by a number of branches and areas within the Government, some of which operate outside the authority of, or without review by, the Board. Addressing the lack of automation is expected to yield improvements in risk mitigation, quality, cost effectiveness and governance.
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