Operating Structure

The Board of Trustees is responsible for overseeing all aspects of the Plan and the HOOPP Trust Fund. Among its responsibilities, the Board of Trustees:

• approves contribution rates and any changes to the Plan’s benefits
• establishes investment policy
• monitors investment performance
• approves annual operating budgets

Eleven of the 16 Trustees constitute a quorum of the Board. Proxy voting is not permitted.

Resolutions of the Board can be passed by a simple majority vote, provided that one Ontario Hospital Association-appointed Trustee and one union-appointed Trustee form part of the majority. However, when any change to the Agreement & Declaration of Trust (ADT) or a “fundamental change” to the Plan (as defined in the ADT) is proposed, it requires the unanimous written agreement of all Settlors, and not the Board. The organizations that are the Settlors of the Trust, not the Trustees whom the Settlors appoint to sit on the Board, vote on ADT amendments and fundamental Plan changes.

A key feature of the Plan is its cost-sharing provisions. Employer contributions range from 120 to 132 per cent of member contributions, and the cost of any future Plan improvements are shared equally between members and employers.