Executive Compensation and Reporting
Executive Compensation Guidelines
Public sector excluded and executive employees who are not covered by collective agreements are covered by specific provisions of the Public Sector Employers Act. These provisions of the Public Sector Employers Act are designed to support and coordinate reasonable compensation practices for this group of employees. Specifically, the Public Sector Employers Act addresses compensation plans, severance standards and the accrual of vacation and sick leave.
Public sector employers have the option to use variable incentive pay compensation plans as a way to recruit and retain employees. These guidelines and principles describe industry best practices that may assist employers in designing and implementing these pay plans.
Executive Compensation Disclosure
In an effort to move to best practices for transparent and full disclosure of public sector executive compensation, public sector employers are required to annually post—on a publicly accessible website—a report detailing the compensation of the chief executive officers and the next four highest paid executives. School Boards must also post compensation reports for all Superintendents.
Senior Employee Compensation Reporting and Disclosure
Compensation reporting for senior employees (all employees who have a base salary of $125,000 or more, including executives), will continue to make available for public inspection during normal business hours, contracts of employment and reports filed with the Chief Executive Officer of PSEC.
To assist employers in meeting their reporting requirements, the PSEC Secretariat has introduced a web-based application to replace the current paper-based reporting.
The Senior Employee Compensation (SEC) database is a secure and efficient way for public sector employers to report senior employee compensation information and for the Secretariat, employers associations, and ministries to obtain up-to-date compensation information, including information about severances. Protected access to the SEC database is available at:
https://pseclrrs.gov.bc.ca/SEC/logon.aspx
Public sector employers will move to the electronic system by September 30, 2009. Until then, the paper form for Public Sector Compensation Reporting can be found at Reporting form for Senior Employees  .
Financial Information Act Reporting
Financial Information Act reporting continues to apply to all employees (including executives and senior employees) who earn more than $75,000.
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