The Board of Trustees of the Healthcare of Ontario Pension Plan has announced that Jim Keohane will become HOOPP’s new President & CEO at the beginning of 2012, following current CEO John Crocker’s planned retirement, which takes place at the end of December.
Mr. Keohane, currently HOOPP’s CIO and Senior VP, Investments, has led the transition to HOOPP’s adoption of a liability driven investment strategy enabling HOOPP to maintain its fully funded status. Through the efforts of Keohane and HOOPP’s in-house investment team, the Fund has averaged returns of 6.28% over the 10-year period ending Dec. 31, 2010, adding more than $17 billion to the HOOPP Fund.
Mr. Crocker has been HOOPP’s CEO for the last decade. Among his many accomplishments are the modernization of HOOPP’s investment and administrative systems and the development of a client-focused culture that in 2010 won the prestigious Canada’s 10 Most Admired Corporate Cultures award. He has been an outspoken advocate for the defined benefit pension plan model, which he sees as the most cost-efficient and effective way to deliver adequate retirement income.
Interviews with Jim Keohane and John Crocker can be arranged by contacting Martin Biefer, Director, Public Affairs, at 416-369-8045 or by email at mbiefer@hoopp.com.
About the Healthcare of Ontario Pension Plan
Created in 1960, the Healthcare of Ontario Pension Plan (HOOPP) is the pension plan of choice for Ontario's hospital and community-based healthcare sector with over 370 participating employers and more than 260,000 plan members and retirees. HOOPP invests the assets of its $35.7 billion Fund, administers the Plan and pays more than $1.2 billion per year in pension benefits. The HOOPP defined benefit plan is a formula based benefit that provides security and peace of mind to Ontario's healthcare workforce.
HOOPP was named one of Canada's 10 Most Admired Corporate Cultures in 2010.
As a defined benefit plan, HOOPP provides eligible members with a retirement income based on a formula that takes into account a member's earnings history and length of service in the Plan. Once eligible members start receiving a pension, they receive it for life. HOOPP's assets are actively managed using a diversified, long-term investment strategy.
HOOPP is governed by a Board of Trustees with representation from the Ontario Hospital Association (OHA) and four unions: the Ontario Nurses' Association (ONA), the Canadian Union of Public Employees (CUPE), the Ontario Public Service Employees' Union (OPSEU), and the Service Employees International Union (SEIU). The unique governance model provides representation from both employers and unions in support of the long-term interests of the Plan.
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For further information or to arrange interviews, please contact:
Martin Biefer
Director, Public Affairs
416 369-8045
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