pension plan board type private industry pension fund founded 1989 ; 27 years ago 1989 headquarters toronto ontario canada key people ron mock ceo 1 jean turmel chairman 2 total assets c 171.4 billion dec 2015 3 number of employees 1100 subsidiaries cadillac fairview website www.otpp.com the ontario teachers pension plan board otpp ; french r gime de retraite des enseignantes et des enseignants de l ontario 4 or rreo is an independent organization responsible for administering defined benefit pensions for school teachers of the canadian province of ontario . the otpp 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 . contents 1 history 2 organization 3 investments 3.1 responsible investing 4 pension funding 4.1 leadership in pension funding innovation 5 media coverage 6 references history edit otpp was established on jan. 1 1990 . 5 until then ontario teachers pensions had been sponsored solely by the ontario government . assets of the plan had been invested in government bonds only . organization edit today the otpp administers the pensions for some 183 000 teachers principals and school administrators and pays pensions to some 133 000 retirees . in 2015 5.5 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 . 6 the chair of the board is jean turmel . 7 investments edit ontario teachers is one of canada s largest institutional investors having reported 171.4 billion in net assets on december 31 2015 . 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 . ontario teachers owns a substantial portfolio of infrastructure assets including 100 % of bristol airport and minority stakes in birmingham airport copenhagen airport brussels airport and london city airport ; the high speed 1 rail line linking london with the channel tunnel ; and international water and power utilities . ontario teachers also owns camelot group plc which holds an exclusive licence to operate the u.k. national lottery . it has acquired a share of the irish national lottery in 2014 . the otpp posts a list of major investments annually on its website . see a list of recent transactions responsible investing edit ontario teachers approach to responsible investing seeks to achieve the best risk return balance for its members by being diligent in choosing and managing assets . it includes several dimensions evaluating investments against material financial and non financial factors including risks associated with environmental social and governance esg issues as well as reputation risk ; continuing to be effective stewards for as long as it owns an asset ; working with other global leaders to advance the understanding of responsible investing as a signatory to the united nations backed principles for responsible investment and a member of various groups and associations ; using its position as large investors to advance good corporate governance because it considers strong governance to underpin a company s ability to effectively deal with risks and opportunities ; and taking a thoughtful and well researched view in voting shares in public companies based primarily on the plan s corporate governance principles and proxy voting guidelines . pension funding edit the pension plan reported a preliminary 13.2 billion funding surplus as of jan. 1 2015 . despite improved funding levels the pension plan still faces challenges resulting from increasing longevity longer retirements and a volatile investing environment . leadership in pension funding innovation edit at the 2013 national summit on pension reform then president and ceo jim leech called for action to assure retirement financing security for all canadians now and for generations to come . 8 leaders and experts from government private companies and labour unions gathered in fredericton to encourage candid high level conversations about pensions . pensions like any species that wishes to survive through time must adapt to the environment mr. leech told the conference . 9 that means we must ensure that benefits and contributions are fair and correlated ; that assets and liabilities can be balanced ; that expectations are realistic and success is achievable . in support of his position jim leech invited summit participants to view the 23 minute documentary pension plan evolution a new financial reality . the documentary takes a global look at how pension plans are changing to meet economic and demographic challenges ranging from volatile markets to increasing longevity . media coverage edit on the january 12 2004 episode of rick mercer report comedian rick mercer had a short segment about the ontario teachers pension plan in which he humorously contrasted the plan s beneficiaries i.e. teachers with the investments the plan had made including shopping malls and the tobacco industry . 10 on december 2 2008 new york lawyer marc stuart dreier was arrested at ontario teachers toronto offices and charged with impersonating through his words and by the use of business cards michael padfield a senior lawyer with the pension plan . a secretary in the ontario teachers offices had become suspicious and notified toronto police who promptly arrested him . dreier was attempting to close a sale of forged ontario teachers promissory notes worth 44.7 million usd by meeting with the buyers right in the ontario teachers offices . 11 on december 4 2008 dreier was indicted by the united states justice department for successfully executing a similar corporate officer impersonation routine including bluffing his way into using the momentarily vacant ceo s office of one selling firm for a meeting with the buyer to sell forged financial instruments on at least two occasions in new york . 12 references edit ontario teachers pension plan ron mock globeinvestor.com appointment notice ontario teachers pension plan jean turmel board member ontario teachers pension plan essentials propos du rreo . otpp.com fr . retrieved 7 january 2013 . otpp history . otpp.com . retrieved 7 january 2013 . otpp corporate web site . otpp.com . retrieved 14 may 2013 . globeinvestor.com appointment notice ontario teachers pension plan jean turmel board member . news article http www.otpp.com news article article 569209 speech http www.otpp.com documents 10179 71c1ee45 217f 4c77 b2ec f9360281ce09 mercer rick . rick mercer report ontario teachers pension plan . cowan alison leigh and william k. rashbaum 2008 12 05 . lawyer s arrest in canada has his firm in chaos . the new york times . retrieved 2009 03 30 . copy of the indictment against dreier v t e largest private equity investment firms 3i group aac capital partners advent international alpinvest partners american capital apax partners apollo global management ares management bain capital bc partners berkshire partners the blackstone group bridgepoint capital candover the carlyle group ccmp capital cerberus capital management charterhouse capital partners cinven clayton dubilier & rice cvc capital partners doughty hanson & co encap investments eqt partners first reserve corporation fortress investment group general atlantic goldman sachs capital partners gtcr hellman & friedman h.i.g. capital jrk property holdings kkr trilantic capital partners leonard green & partners madison dearborn partners nordic capital oak investment partners oaktree capital management onex teachers private capital pacific equity partners pai partners permira providence equity partners sentinel capital partners silver lake partners summit partners sun capital partners ta associates terra firma capital partners thomas h. lee partners tpg capital warburg pincus welsh carson anderson & stowe private equity private equity firms venture capital firms portfolio companies retrieved from https en.wikipedia.org w index.php title ontario teachers % 27 pension plan & oldid 743989180 categories public pension funds in canadainvestment companies of canadaprivate equity firms of canadaorganizations established in 1989organizations based in torontomaple leaf sports & entertainment1989 establishments in ontario navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages fran ais edit links this page was last modified on 12 october 2016 at 12 26 . text is available under the creative commons attribution sharealike license ; 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