March 9, 2022
Victoria, British Columbia – British Columbia Investment Management Corporation (BCI) welcomes Municipal Retiree Benefit Trust (MRBT) as a new client with $100 million in assets under management.
MRBT is an employee life and health trust (ELHT) newly created by the Plan Partners for the British Columbia Municipal Pension Plan (MPP) following a program review and redesign. Its purpose is to provide access to group benefits for retired MPP members and their spouses/dependents. Providing benefits through an ELHT offers better sustainability since funds can accumulate and earn investment income.
“We are delighted to have been selected as investment manager for MRBT,” said David Morhart, executive vice president, corporate and investor relations. “We have worked with MPP for many years and look forward to continuing to invest on behalf of Municipal Pension Plan retirees in this new capacity.”
“The Municipal Retiree Benefit Board of Trustees are excited to begin the work of maintaining a valuable benefit program for Municipal Pension Plan retirees. We know from our experience with BCI that the initial funds and ongoing contributions will be well managed to assist the trustees with their goal of providing affordable and stable extended health benefits.” said Bonnie Pearson, Chair and Lyn Kocher, Vice Chair of MRBT.
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