What are the roles and responsibilities of the Board of Trustees?
A The Board of Trustees operates within authority conferred on it by AUNBT, UNB, and applicable legislation. This authority is set forth in the Pension Plan document, the Trust Agreement between UNB and AUNBT, and the legislation and regulations issued under the Pension Benefits Act of the Province of New Brunswick and the Income Tax Act of Canada. The Board of Trustees have a fiduciary responsibility for stewardship of the assets of the Plan. Specifically, the Board of Trustees sets investment objectives and policies, monitors investment strategy and performance, approves the actuarial assumptions used, and provides annual reports to UNB, AUNBT, and Plan members. The Board engages various professionals to provide expert advice. These professional experts currently include a plan actuary, legal counsel, auditors, investment managers, investment policy advisors, and investment performance monitors.
