(August 2, 2013) – Ontario Public Service Employees Union (OPSEU) is seeking new trustees for two of its pensions, but interested applicants had better sharpen up their No. 2 pencils.
Candidates for either OPSEU’s own retirement trust or the union’s municipal board must be members of OPSEU, and submit to a written test.
“With the challenges facing defined benefit pension plans, we need people who have a firm and deep commitment to the labor movement and union principles, as well as an understanding of pension plans, trustee responsibilities, and the legal framework surrounding pensions,” OPSEU stated in its description of the positions.
Trustees will be required to meet for at least two or three days every two months, plus extra sessions while serving on committees
The positions do not come with a paycheck, an OPSEU spokesperson told aiCIO, although the funds will reimburse trustees’ expenses.
“The successful candidate must be willing to sign a letter of agreement that they will claim expenses only as per OPSEU policies,” the statement said.
According to the listing, OPSEU is seeking members with “knowledge of finance and investment,” and prefers those with “demonstrated ability to understand complex issues and investment philosophy.”
Experience with union pension plans is greatly encouraged.
Applications must be submitted by August 16, 2013, after which the written tests and interviews will be conducted.
Successful candidates for the OPSEU board will begin October 1, and municipal pension trustees are slated to start in the new year.