University issues policy on executive compensation

The Broader Public Sector Executive Compensation Act (BPSECA), introduced in 2014, authorizes the government to establish compensation frameworks to manage executive compensation in the Broader Public Sector (BPS), and sets out principles that all designated employers must follow. Following consultation with multiple stakeholders in the BPS, the province introduced Ontario Regulation 304/16 in support of the BPSECA, effective September 6, 2016. This regulation lays out the details and implementation timelines for executive compensation for all employers within the BPS.

The regulation states that all BPS employers must have a compensation framework in place for designated executives within a maximum of one year of the regulation coming into effect which is September 5, 2017. The framework must be compliant with the regulation, and have been available for community feedback for a 30-day period.

The requirements of the BPSECA and Ontario Regulation 304/16 have been considered, and a Board of Governors policy developed to ensure that the University of Windsor is compliant with the requirements.

The policy is posted on the University Secretariat website (https://www.uwindsor.ca/secretariat/13/bylaw-and-policies). Any feedback or comments can be sent to bog@uwindsor.ca no later than November 18.