There are nine voting members on the ELHT Board of Trustees who are responsible for operating the plan and ensuring its financial sustainability. Five members of the Board of Trustees are appointed by the ETFO, two are appointed by the Ontario Public School Boards’ Association (OPSBA) and two by the Crown. Each Trustee has a minimum three-year term, which can be renewed twice, subject to a maximum tenure of nine years.
The ETFO ELHT Trustees is responsible for the operations of the Trust including but not limited to:
Trustees have fiduciary obligations which include duty of loyalty and of prudence. The duty of loyalty requires that the Trustee act solely and exclusively in the interest of the plan’s. The duty of prudence requires that fiduciaries make decisions on an informed basis, after conducting appropriate due diligence. Trustees are required to apply the knowledge and skill that they possess, but are also required to retain specialized advice relevant to the decision at hand. In order to comply with their fiduciary obligations, the Trustees must adopt policies, processes and procedures that bring relevant information and expertise to bear on the issues at hand and which will allow them to make reasoned and well-informed decisions. Each year, the Trustees prepare an Annual Report on the activities of the ELHT.
The ETFO Employee Life and Health Trust Agreement outlines the roles and responsibilities related to the ETFO ELHT.