ELECTION UPDATE: Pension Board of Trustees

In September, members of the University of Victoria Combination Pension Plan were notified of the nomination process to fill trustee positions on the Pension Board of Trustees. These positions were coming open because the three-year elected terms of current Trustees Michael Miller and Susan Service expire at the end of December 31, 2022.

We are pleased to update you that in response to the call for nominations, two nominations were submitted. Given that the number of nominees matched the number of available Trustee positions, an election is not required. Nominees Michael Miller and Ori Granot have been acclaimed and will begin terms starting January 1, 2023. These results have been ratified by the Pension Board of Trustees.

Dr. Michael Miller has been re-elected for his fifth term as a Trustee. Dr. Miller retired from the university in 2017, having served as Chair of the Department of Computer Science, Dean of Engineering and Associate Vice-President Research. Dr. Miller has been elected as a Trustee to the Pension Board of Trustees since 2011, and in that time, has served as both Vice Chair and Chair to the Board.

Dr. Ori Granot has been re-elected to the Board of Trustees for a non-consecutive second term. Dr. Granot currently manages the Mass Spectrometry Facility in the Department of Chemistry at UVic. He previously served as a Pension Board Trustee from 2018 through 2020.

The Pension Board of Trustees has a fiduciary responsibility for the Combination Pension and Money Purchase Pension Plans, including overseeing the investments and the financial management of the Plans. Trustees ensure the Plans are administered in accordance with the Trust Agreements, the Income Tax Act and Pension Benefit Standards Act (BC).

Of the eight Trustees on the Pension Board, four are elected by members and four are appointed by the University Board of Governors. All trustees represent the shared interests of all plan members, regardless of employment status with the University. The Trust Agreements between the University of Victoria and the Pension Board set out the rights and responsibilities of the Pension Board, as well as the rules and procedures related to the appointment and election of Trustees.