Governance Structure
The Minister of Finance is the Administrator and Trustee of the Local Authorities Pension Plan. However, the Minister does not complete the day-to-day tasks in operating the pension plan. The following organizations are involved in governing the Plan:
LAPP Board of Trustees has a number of statutory functions set out in the Public Sector Pension Plans Act.
LAPP Board of Directors is delegated high-level strategic guidance of the pension plan, and support of the Board of Trustees in its statutory duties.
LAPP Executive Team supports both Boards.
Alberta Pensions Services Corporation (APS) is delegated all functions in relation to the administration of benefits of the pension plan.
Alberta Investment Management Corporation (AIMCo), is responsible for the investment of the plan funds.
Alberta Finance monitors the various delegations and the delivery of service by the various organizations.
Because there are a number of different organizations involved in the governance and operations of the Plan, ongoing communication, cooperation and collaboration is required of all parties. For that reason, LAPP has operating protocols with APS and with AIMCo that detail how the organizations will work together.
