Trustee Responsibility

The HOOPP Board of Trustees is the Administrator of the Pension Plan and Trust Fund. HOOPP's Trustees must ensure that any decision they make complies with the Plan Text (the legal document that sets out the detailed Plan provisions), and the Agreement & Declaration of Trust.

In addition, as part of their duty to ensure that the Plan and Trust Fund are properly administered, the Trustees must ensure that the Plan Text complies, and that the Plan is administered in accordance with all relevant federal and provincial legislation, such as the Income Tax Act and Ontario's Pension Benefits Act, which incorporates the investment regulations under the federal Pension Benefits Standards Act.

As a member of a board governing a trust, each HOOPP Trustee is a fiduciary and, as such, must act solely in the best interests of the Plan beneficiaries as a whole. The Trustees' obligations arise out of common law trust principles, as well as Ontario's Pension Benefits Act.

This fiduciary responsibility supersedes any allegiance a Trustee may have to any other party or interest, including the organization that appointed him or her to the Board.