News
New TrusteesOn Chamber Pension Plan
Photo caption:(L-R) Waide DaCosta, George Duquette, Eric Steele, Sharon Diaz,Simon Whicker
Four new trustees were elected to the ChamberPension Plan Board at the Annual General Meeting held last weekat the Hyatt Regency.
Waide DaCosta, founding partner of locallaw firm Broadhurst DaCosta, was appointed as the Chamber of Commercerepresentative. KPMG Partner Simon Whicker was elected to representthe professional and financial employers, whilst Sharon Diaz,manager of the Scotia Centre, Scotia Bank, takes over as the professionaland financial employee representative. George Duquette, a fulltime instructor of Accounting and Investments at the CommunityCollege of the Cayman Islands, became the employee representativefor the industry and commerce sector.
Eric Steele, Vice-Chairman of the Boardof Trustees and representative for industry and commerce employers,has also taken over as Chairman from Stuart Sybersma.
"The nine trustees of the Chamber PensionPlan each represent a different sector of the community,"said outgoing Chairman Mr. Sybersma. "The trustees servefor three-year terms and we're extremely pleased to have sucha highly qualified Board to handle the affairs of the pensionplan. We encourage all members to become familiar with the representativefor their industry sector so that they can contact them if thereare specific issues that needed to be discussed."
"I would also like to acknowledge thetrustees who have recently completed their three year term ofservice, namely Norm Klein, Gilda Moxam Murray and Novelette Ebanks,"continued Mr. Sybersma.
Mr. Sybersma's report confirmed that theplan performance over the long term was strong and that the averageannual return over the last seven years had been greater than8%. In the year ending June 2001, 1830 individual members and119 new employer members joined the plan.
The Chamber Pension Plan was created in1992 to provide long-term security for anyone living and workingin Cayman. Today, the Chamber Pension Plan is the largest on theisland with over 9100 employee members and in excess of US$50million in assets. The plan is governed under the National PensionsLaw and the Declaration of Trust which outlines the terms andconditions of the trust structure used to hold the Chamber PensionPlan.