Under joint governance, employee and employer sponsor organizations share control of PSPP design and funding. These organizations appoint members to the PSPP Sponsor Board (Sponsor Board) by giving notice to the PSPP Corporation (the Corporation). There is equal representation of employee and employer groups on the Sponsor Board:
- Four employee representatives
- Three appointed by the Alberta Union of Provincial Employees (AUPE)
- One appointed by the University of Alberta Non-Academic Staff Association (NASA)
- Four employer representatives
- Three appointed by the Government of Alberta (GoA)
- One appointed by the University of Alberta (U of A) or the University of Calgary (U of C) based on a three-year rotation
The Sponsor Board’s roles and responsibilities are set out in the Joint Governance of Public Sector Pension Plans Act and include:
- making and amending Plan rules;
- setting contribution rates;
- establishing a funding policy;
- reviewing the Corporation’s annual budget;
- establishing a code of conduct and conflict of interest policy governing its members; and
- determining how much the Corporation’s directors are paid.
The Sponsor Board may delegate its responsibilities to the Corporation, but only if it is required in order to comply with the Employment Pension Plans Act or other applicable law.