Ontario Teacher's Pension Plan
 |
|
| Private | |
| Industry | Pension fund |
| Founded | 1989 |
| Headquarters | Toronto, Ontario, Canada |
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Key people
|
Ron Mock (CEO) Jean Turmel (Chairman) |
| Total assets |
 C$175.6 billion(Dec 2016) |
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Number of employees
|
1100 |
| Subsidiaries | Cadillac Fairview |
| Website | www |
The Ontario Teachers' Pension Plan Board (Ontario Teachers'; French: Régime de retraite des enseignantes et des enseignants de l'Ontario or RREO), is an independent organization responsible for administering defined-benefit pensions for school teachers of the Canadian province of Ontario. Ontario Teachers' also invests the plan's pension fund, and is one of the world’s largest institutional investors. The plan is a multi-employer pension plan, jointly sponsored by the Government of Ontario and the Ontario Teachers' Federation.
Ontario Teachers' was established on Jan. 1, 1990. Until then, Ontario teachers' pensions had been sponsored solely by the Ontario government. Assets of the plan had been invested in government bonds only.
Today, the plan administers the pensions for some 182,000 teachers, principals, and school administrators, and pays pensions to some 136,000 retirees. In 2016, $5.7 billion in benefits was paid to members. Ontario Teachers' is headquartered in Toronto, with operations in London, Hong Kong and an office in New York.
Founding President and Chief Executive Officer, Claude Lamoureux, retired on December 1, 2007 and was succeeded by Jim Leech, who was Senior Vice President of Private Equity (aka Teachers' Private Capital).
Effective January 1, 2014, Ron Mock, succeeded Jim Leech as President and Chief Executive Officer. The Chair of the Board is Jean Turmel.
Ontario Teachers' is one of Canada's largest institutional investors having reported $175.6 billion in net assets on December 31, 2016. It has an excellent track record for investment performance with an average annual return of 10.3% since inception.
Ontario Teachers' owns and manages a diversified portfolio of Canadian and international assets. Through its fully owned real estate subsidiary Cadillac Fairview, Ontario Teachers' owns properties that include the Toronto-Dominion Centre, Toronto Eaton Centre, and the Rideau Centre in Ottawa. Through its private equity investment arm Private Capital, Ontario Teachers' owns or has had interests in companies such as Helly Hansen, Munchkin, Plano and Shearer's Foods.
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