Governance
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ATRF is a provincial corporation established under the provisions of the Teachers' Pension Plans Act (TPPA) that provides services to over 80,000 plan members. ATRF is governed by the Act’s regulations and the plan rules, as well as the strategic direction provided by the ATRF Board.
ATRF's Mandate
At the heart of ATRF’s success as the pension plan administrator of over 80,000 teachers’ pensions is our strong, sound, and independent governance model.
What that means is we owe a duty to the pension plans and ultimately the plans’ beneficiaries over the long term. Everyone at ATRF conducts business every day with that duty firmly at the heart of every decision.
ATRF’s mandate is to:
- Deliver the benefits established by the plan sponsors, and
- Prudently invest the assets of the plans and set contribution rates with the objective of maintaining full funding over the long term at a cost and risk level acceptable to the sponsors.
Role of the ATA and Government of Alberta
The Alberta Teachers’ Pension Plans were designed and are jointly sponsored by the Alberta Teachers’ Association (ATA) and the Government of Alberta (GoA). The sponsors set the benefit levels and the rules to administer contributions and payments, but do not set the contribution rates. Responsibility for setting contribution rates is delegated under the TPPA to the ATRF Board.
Role of Executive Leadership Team
The employees at ATRF administer the pension plan and pay pensions as provided in the plan rules, oversee the implementation of ATRF’s investment policy, and implement ATRF’s long term strategy as approved by the board.
Governance Framework
Good governance is grounded in processes and procedures that are transparent, accountable, and embed appropriate risk management. Review our annual report section for an overview of our governance and performance each year.
Administrative Decisions and Review by the Board
Members may seek a review of certain decisions made by ATRF that relate to eligibility for benefits and commencement of benefits. Those decisions may be reviewed by a committee established by the ATRF Board. The ATA provides advice and assistance with the review for its members, if needed. For more information on this topic, please contact us.
Role of the ATRF Board
The ATA and the GoA each appoint four members to the ATRF Board, which then functions independently on behalf of ATRF’s plans. The board sets the long-term strategy and oversees the CEO and Executive Leadership Team at ATRF. The board acts independently of the sponsors and the executive and has a fiduciary duty to make decisions in the best interests of the plans and its beneficiaries. The board sets the long-term strategy of ATRF and the strategic investment policy to meet the needs of the plans. The ATRF board also has the important function of setting the contribution rates for plan members and employers.
Day-to-day management of the business affairs at ATRF is delegated to the CEO and Executive Leadership Team.
Core Governing Legislation and Policies
ATRF is a corporation established pursuant to and governed by the TPPA. We must comply with the Income Tax Act, and, as a provincial agency, legislation including the Freedom of Information and Privacy Act, Reform of Agencies, Boards and Commissions Compensation Act, and the Financial Administration Act. Our plan legislation requires ATRF to delegate investment management to AIMCo.