ELECTION UPDATE: Pension Board of Trustees

In September, members of the University of Victoria Combination Pension Plan were notified of the nomination process to fill trustee positions on the Pension Board of Trustees. These positions were coming open because the three-year elected terms of current Trustees David Boudinot and Matthew Murphy expire at the end of December 31, 2023.

We are pleased to update you that in response to the call for nominations, two nominations were submitted. Given that the number of nominees matched the number of available Trustee positions, an election is not required. Nominees Matthew Murphy and Stefan Grbavec have been acclaimed and will begin terms starting January 1, 2024. These results have been ratified by the Pension Board of Trustees.

Dr. Matthew Murphy has been re-elected for his second term as a Trustee. Dr. Murphy is an Associate Professor of Sustainability and Strategy in the School of Business, where he teaches the Foundations of Business and Sustainability courses in the school’s MBA programs. His research focuses on Indigenous Self-Determination and Sustainable Community Development. Dr. Murphy has been elected as a Trustee to the Pension Board of Trustees since 2021.

Mr Stefan Grbavec has been elected to the Board of Trustees for a first term. As Director of Finance and Operations at the Division of Continuing Studies, Mr Grbavec is responsible for overseeing and directing all aspects of the Division’s finance, operations and IT systems. He has previously served on the governing body of another UVic pension plan: the Staff Pension Plan Investments and Administration Committee from 2014-2018 and the Staff Pension Plan Advisory Committee from 2015-2018.

The Pension Board of Trustees has a fiduciary responsibility for the Combination Pension and Money Purchase Pension Plans, including overseeing the investments and the financial management of the Plans. Trustees ensure the Plans are administered in accordance with the Trust Agreements, the Income Tax Act and Pension Benefit Standards Act (BC).

Of the eight Trustees on the Pension Board, four are elected by members and four are appointed by the University Board of Governors. All trustees represent the shared interests of all plan members, regardless of employment status with the University. The Trust Agreements between the University of Victoria and the Pension Board set out the rights and responsibilities of the Pension Board, as well as the rules and procedures related to the appointment and election of Trustees.