Public Sector Employers' Council Secretariat
Executive Compensation – Disclosure Statements
In 2008, disclosure of executive compensation across British Columbia’s public sector was expanded to increase transparency and accountability. Employers are now required to move beyond simply reporting what was paid to a more detailed explanation on all the elements that make up the compensation package for the individual. Disclosures must include an explanation of the employer's compensation philosophy, the objectives of the compensation program and what it is designed to reward, and how the payment of salary holdbacks for the top five executives relate to the organization’s performance targets. These reporting requirements are modeled on those of the Canadian Securities Administrators’ requirements of publicly-traded companies.
The enhanced disclosure requirements apply to chief executive officers and the next four highest paid/ranking executives, where these positions hold an annual base salary of $125,000 or more. They must be proactively disclosed on the organization's website. This executive compensation disclosure is in addition to the more basic salary disclosures employers make under the Financial Information Act for employees earning $75,000 or more.
The Public Sector Employers Act permits the chief executive officer of the Public Sector Employers Council to prepare and publish reports with respect to that information. Accordingly, the following is a report of British Columbia's public sector executive compensation for the employers' most recent fiscal years.
See left hand navigation for disclosure statements.