The JFBT Trustees have engaged a number of service providers to manage the operation of the Trust.
Pursuant to the Joint Facilities Benefits Trust’s Agreement and Declaration of Trust dated August 1, 2015 (Trust Agreement) the Trustees have the authority to retain a third party administrator to administer the benefits and to delegate their administrative duties to such an administrator.
The Trustees have retained the Healthcare Benefit Trust (HBT) as the third party administrator and have delegated to HBT the liaison with and coordination of the activities of the claims paying agents and insurers on behalf of the Board, as well as other responsibilities, including financial accounting and liaison with the auditors.
The Trustees have retained Pacific Blue Cross (PBC) and the Canada Life Assurance Company (CL) as claims paying agents, to carry out the claims adjudication and claims payment functions in respect of the Plan’s benefits. Canada Life is also the Group Life and AD&D insurer.
The Trustees have retained George & Bell (G&B) as actuaries, to monitor and report on the funded status of the Trust. The actuaries annually estimate the liabilities (obligations to plan members) and assets to assess whether the Trust is fully funded or not.
The Trustees have appointed KPMG as auditors for the Trust.
The Trust’s assets are invested in the Healthcare Investment Unit Trust (HIUT). The HIUT uses the British Columbia Investment Management Corporation (BCI) to manage its investments.
The Trustees’ legal counsel is Hatch Law.