This means the value of many of the assets in the fund has also been recovering.Your plan is protected against a market downturn through our long-term approach to investing. We encourage you to use online services available through the plan website, My Account and the employer websites.Recent weeks have been tough on everyone as we navigate the “new normal” amid this health crisis. We encourage you to visit the As part of efforts to protect staff, currently paper submissions are not being accepted.
The immediate future of this pandemic is uncertain. Your board of trustees (board) has been anticipating for some time a correction in the decade-long market growth and has been working with British Columbia Investment Management Corporation, the plan’s investment agent, to adjust the portfolio holdings to reduce risk.
You can submit your documents and forms online using My Account Message Centre, a secure channel.Many of our retired members are part of the plan’s retirement group benefits program, which offers extended health and dental coverage. Term expires: June 30, 2023 . We are aware that due to COVID-19 these members have not been able to access their full benefits. Teachers' Pensions are responsible for administrating the Teachers' Pension Scheme on behalf of the Department for Education. Separately, the board of trustees of Texas Teachers voted to retain Institutional Shareholder Services as the pension fund's proxy adviser. Meetings are open to the public, except when the Board goes into executive session. Your trustees too are practicing physical distancing and are conducting board business through secure digital channels.For now, physical offices remain closed and in-person consultation and workshops remain cancelled. BC's Teachers' Pension Plan is jointly managed by trustees appointed by the employer partner (the provincial government) and the member partner (BC Teachers' Federation). Your pension is calculated based on a formula that takes into account your years of service and highest average salary. In these rapidly changing times, there’s a lot we don’t know about the impacts of COVID-19. Detailed information on the Board's responsibilities, plan governance and controls, enterprise risk management, executive compensation, transparent reporting and audit integrity is available in the Plan Governance section of our annual report. It is not dependent on the performance of the financial markets.The plan is well funded and has enjoyed strong performance over the past 10 years. We hope that knowing your pension is secure provides you with some peace of mind. Luke was a member of the Education Minnesota Pension Task Force in 2017 and is a strong advocate of defined-benefit pension plans for educators..
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