Call for Interest: TTF Trustee Board
Trustee for the IBEW Local 37 Training Trust Fund
The IBEW Local 37 Training Trust Fund (TTF) is seeking expressions of interest from qualified individuals to serve as a Trustee. Members in good standing, working in any bargaining unit (Nuclear, Generation, and Transmission, Distribution, Customer and Corporate Services) are eligible to apply.
In the late 1980’s, the Federal Government initiated programs that would provide financial assistance to employee associations who were interested in training workers to upgrade their skills. These grants required contributions from three parties, the Federal Government, the employer, and the employees. Trusts were required to administer these funds.
IBEW Local 2309 and NB Power signed a Training Trust Agreement on March 31, 1989. A Contribution Agreement was signed between the Federal Government and Trustees of the Training Trust on the same day.
IBEW Local 1733 and NB Power signed a Training Trust Agreement on September 28, 1992, and subsequently, a Contribution Agreement was signed between the Federal Government and the Trustees of this Training Trust on November 23, 1992.
The terms of these Training Trust Agreements were the same, and in 2000 when Locals 2309 and 1733 merged, the Training Trusts of the two locals were also merged, creating the Trust that exists today. After the Federal Government programs were completed, the Training Trust continued to provide training with contributions from the employees and NB Power.
The TTF is currently sustained by investment revenue and an allocation that NB Power contributes on behalf of members of three cents per hour for every hour that IBEW Local 37 members work. In addition, NB Power contributes 40% of the TTF’s annual expenditure to a maximum of $50,000 per year. The Fund is then used to offer the Local 37 membership learning and development opportunities in the form of workshops, conferences, online learning, self-directed learning, and more.
The TTF is managed by a Board of Trustees comprised of the IBEW 37 Business Manager, Program Coordinator, and representatives from both union and management of NB Power.
OVERVIEW OF THE TRAINING TRUST FUND MANDATE
To support and encourage training and development activities that contribute to success in the workplace and career development.
KEY DUTIES AND RESPONSIBILITIES OF TRUSTEES
As a Trustee of the IBEW Local 37 Training Trust, you are a fiduciary of the trust. All trustees have legal obligations associated with these fiduciary responsibilities and can be held accountable for being duly diligent in the discharge of these responsibilities.
The law related to trusts is an aggregate of statue and case law that has developed around the long, historical use of trust. It is based on three primary fiduciary duties:
- A Duty to follow the Trust Agreement
- A Duty to be reasonable, prudent and judicious
- A Duty to act solely in the interest of the beneficiaries of the trust
RESPONSIBILITIES OF THE TRUSTEES
In addition to fiduciary responsibilities, trustees may have other responsibilities:
- To establish and administer the Trust Fund and enter into any and all contracts and agreements for carrying out the terms of the Agreement and for administration of the Trust Fund and do all acts as they, in their discretion, may deem necessary and advisable
- To invest and reinvest all or any part of the Trust Fund’s monies in such a manner and upon such terms and for such length of time as the Trustees in their discretion deem proper
- To establish and accumulate, as part of the Trust Fund, such reserve or reserves as are adequate, in the opinion of the Trustees, to carry out the purposes of the Fund
- To have full authority to determine all questions of coverage, liability and methods of providing or arranging for provisions of payments and all other related matters
- To rent premises, purchase supplies and purchase training from an authorized third party
- To employ an administrator and administrative and clerical personnel to whom they may delegate such portion of the duties as they may in their sole discretion deem proper and necessary for the sound efficient administration of the Trust Fund
- To retain, employ and compensate investment advisors, accountants, valuators and legal counsel as they my in their discretion deem proper and necessary in connection with the Trust Fund and this Agreement
- To appoint any one or more of the Trustees or any other persons to sign all or any banking documents, stock transfers, receipts, promissory notes, other negotiable instruments and any other documents of any kind of required to be signed on behalf of the Trustees at any time
- To accept or refuse to accept contributions or donations to the capital of the Trust Fund made by any person or persons whatsoever as the Trustees in the unfettered discretion shall from time to time determine
In addition, in order to successfully carry out the role as a Trustee, basic responsibilities to members must be fulfilled, such as:
- Understanding and demonstrating a commitment to the TTF’s mandate, programs, and strategic plan
- Supporting the Training Coordinator in events, if applicable
- Experience in one or more of the following areas: training and development, education, adult learning, event management, board governance
- Preparing for all meetings by reading agendas, minutes, and other reports
- Attending all meetings
- Actively participating in all meetings, by both listening and sharing views
- Asking questions when more information is needed
- Participating in development activities
- Avoiding any potential conflicts of interest
- Understanding and maintaining confidentiality
- Supporting the Board of Trustees decisions
CANDIDATES FOR THE POSITION OF TRUSTEE SHOULD POSSESS THE FOLLOWING PERSONAL ATTRIBUTES:
- Long-term strategic outlook
- High integrity
- Respect for others’ contributions
- Creativity and innovation
- Positive attitude
- Constructive problem-solving skills
- Willingness to contribute skills, knowledge, ideas, and influence
IN ORDER TO QUALIFY FOR THE POSITION, YOU MUST BE:
A member (A or BA) of Local 37 in continuous good standing for at least two years immediately prior to selection
The Board of Trustees is required to meet at least quarterly, and more often if necessary. Meetings are expected to last from a few hours and up to one (1) business day and will be held at the IBEW 37 office at 138 Neill Street in Fredericton, or as otherwise agreed upon by the Board of Trustees.
There is no fixed term for Trustees. They serve until a successor is appointed. A trustee can resign with thirty days’ notice to the Trust Fund Administrator.
If you are interested in being considered for this position, please complete the following steps:
- Fill out the Call for Interest application via JotForm, which includes:
- Writing a letter indicating why you are interested, and how you would be an asset to the IBEW 37 Training Trust Fund Board of Trustees
- A short biography – make sure to include any prior union experience
- Your contact information and other personal details.
- Send all required information to the IBEW Local 37 office:
The IBEW 37 Training Trust Fund Board of Trustees will review all submissions and will make the final selection per the TTF Agreement.