For the fourth consecutive year, the Province has released reports detailing the major elements of compensation for public-sector executives in British Columbia.

These reports ensure public-sector compensation reporting continues to meet best practice standards for disclosure, and they provide the public with background about the compensation philosophy of the organization and how it relates to performance.

Public-sector organizations are required to disclose the major elements of compensation, including base salary, benefits (including taxable benefits), employer pension contributions, and performance payments. These disclosure requirements apply to chief executive officers and the next four highest-ranking/paid executives, where these positions hold an annual base salary of $125,000 or more.

Acting on the advice of the Office of the Auditor General, further improvements have been made since 2009 to the executive compensation disclosure statements, including:

• Endorsement of disclosure or an attestation from the board of directors that the compensation paid was within the approved compensation plan.
• Descriptions of the performance that triggered any performance-related pay.
• Separate disclosures from stand-alone subsidiaries of corporations.
• Public Sector Employers' Council staff verify total compensation amounts against approved plans.

Since 2001, the Province has made significant improvements to the transparency and disclosure of financial and performance information. Modelled on the Canadian Securities Administrators' requirements for publicly traded companies, in 2008, the Province further expanded requirements for disclosure by amending the Public Sector Employers Act to require public-sector organizations to disclose the major elements of compensation. As a result, B.C. is a leader in Canada with respect to standards for disclosure of public-sector executive compensation.

Each organization will publicly post compensation information on its website in order to meet the requirements for disclosure under the Act. This information is also posted on the Public Sector Employers' Council Secretariat webpage: www.pssg.gov.bc.ca/psec/disclosure/disclosure10-11.htm.

A backgrounder follows.

Contact:

Government Communications and Public Engagement
Ministry of Public Safety and Solicitor General
250 356-6961

BACKGROUNDER

TOP 10

2010-11 Executive Compensation

1. Name, Position and Employer
T.M Bechard, Managing Director, Powerex - BC Hydro
Base Salary
$358,800
Incentive Plan (Performance Pay)
$540,000.00
Annual Employer Pension Contribution
$22,560.00
Other Comp. & Benefits*
$90,358.00
Total
$1,011,718.00

2. Name, Position and Employer
Allan Seckel, Deputy Minister to the Premier, BC Public Service
Base Salary
$268,006.42
Incentive Plan (Performance Pay)
$0.00
Annual Employer Pension Contribution
$26,826.52
Other Comp. & Benefits*
$16,542.87 Severance $549,776.00
Total
$923,907.73

3. Name, Position and Employer
Martyn Brown, Deputy Minister of Jobs, Tourism & Innovation, BC Public Service
Base Salary
$192,942.43
Incentive Plan (Performance Pay)
$0.00
Annual Employer Pension Contribution
$37,439.47
Other Comp. & Benefits*
$6,603.02 Severance $416,191.00
Total
$653,175.92

4. Name, Position and Employer
Stephen Toope, President & Vice Chancellor, University of British Columbia
Base Salary
$378,000
Incentive Plan (Performance Pay)
$50,000
Annual Employer Pension Contribution
$85,908.00
Other Comp. & Benefits*
$67,470.00
Total
$579,332.00

5. Name, Position and Employer
Warren Buckley, President & CEO, BC Pavilion Corporation
Base Salary
$400,000
Incentive Plan (Performance Pay)
$100,000
Annual Employer Pension Contribution
$40,396.00
Other Comp. & Benefits*
$23,311.00
Total
$563,707.00

6. Name, Position and Employer
Kevin Mahoney, President and CEO, BC Railway Company
Base Salary
$77,212.00
Incentive Plan (Performance Pay)
$0.00
Annual Employer Pension Contribution
$30,876.00
Other Comp. & Benefits*
$23,035.00 Severance $392,333.00
Total
$523,456.00

7. Name, Position and Employer
Geri Prior, CFO, ICBC
Base Salary
$294,711.00
Incentive Plan (Performance Pay)
$135,228.00
Annual Employer Pension Contribution
$59,332.00
Other Comp. & Benefits*
$33,507.00
Total
$522,777.00

8. Name, Position and Employer
T.M. Conway, President & CEO, Powerex - BC Hydro
Base Salary
$254,528.00
Incentive Plan (Performance Pay)
$91,789.00
Annual Employer Pension Contribution
$61,087.00
Other Comp. & Benefits*
$115,021.00
Total
$522,425.00

9. Name, Position and Employer
Jon Schubert, President & CEO, ICBC
Base Salary
$330,000.00
Incentive Plan (Performance Pay)
$115,500.00
Annual Employer Pension Contribution
$61,479.00
Other Comp. & Benefits*
$15,198.00
Total
$522,178.00

10. Name, Position and Employer
Brenda M. Leong, Chair, BC Securities Commission
Base Salary
$378,000.00
Incentive Plan (Performance Pay)
$55,578.00
Annual Employer Pension Contribution
$38,124.00
Other Comp. & Benefits*
$27,549.00
Total
$499,251.00

* Other Compensation and Benefits includes total compensation items not captured in the first three columns. This includes, where applicable but is not limited to, statutory benefits (CPP, EI & WCB), non-statutory benefits (MSP, EHB, dental, life Insurance & AD&D), car allowance, severance and vacation pay-out.

Contact:

Government Communications and Public Engagement
Ministry of Public Safety and Solicitor General
250 356-6961