The Government of Ontario implemented a new framework for broader public sector executive compensation. This Executive Compensation Framework regulation came into effect September 6, 2016. It applies to all designated employees under the Broader Public Sector Executive Compensation Act and establishes requirements employers must meet when setting compensation for its executives.
Ontario Shores is required to adhere to this act and has been in compliance with all provincial compensation legislation that has been in effect since March 31, 2010. The new framework for broader public sector executive compensation includes capping salary and performance-related payments for hospitals, universities and other government agencies.
Ontario Shores posted its draft Executive Compensation Framework for 30 days and collected feedback from our communities. In total, there were two comments provided that were both positive, supported the proposed draft Framework and did not suggest any changes or edits for consideration.
Ontario Shores has reviewed the comments and determined that the feedback received regarding our proposed plan did not alter our draft Executive Compensation Framework.
As such, Ontario Shoresâ Executive Compensation Program will be in effect as of February 28, 2018.