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Saint Mary’s University Pension Plan

Saint Mary’s University Pension Plan. Annual General Meeting June 2011. Agenda.

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Saint Mary’s University Pension Plan

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  1. Saint Mary’s UniversityPension Plan Annual General Meeting June 2011

  2. Agenda Governance Overview and Financial Report – Vice Chair, Pension Committee Pension Plan Investments – Mercer Report from Custodian and Record keeper – Sun Life Financial Open Forum- Member comments and questions Members’ Luncheon

  3. Year in Review • 2010/11 has generally been a year of continuing recovery for investors, but there is still unpredictability in the markets • Pension Committee continues to focus on • Administering the plan prudently • Monitoring pension plan investments and our agents • Providing appropriate information support and tools to members • Finalist award for Pension Governance - Benefits Canada event,Toronto • Commenced review of Target Date Funds

  4. Pension Governance – Mission Statement The University and Pension Committee maintain the Pension Plan to assist Plan Members to achieve financial security in retirement. This assistance will take two forms: • Optimization of the pension plan • Timely provision of information and tools to support pension plan members in making informed and rational decisions regarding their retirement income Our objective is to be 100% compliant with the Capital Accumulation Plan Guidelines as established by the Joint Forum of Financial Market Regulators.

  5. Monitoring • Comprehensive annual review of investments • Information provided by our consultants as events occur • Information available on Sponsor Website 24/7 • Yvan Breton (Mercer) to provide update today • Regular review of other areas • competitiveness of fees • member asset allocations

  6. Member Support • As pension plan member, you direct the investment of your pension assets • Members have the responsibility to use the tools and information provided to make appropriate investment choices • This may involve getting independent financial advice • Pension Committee’s responsibilities • Provide access to the right tools and information • Monitor use/utility of tools and information • Stay current with changes in pension environment • Respond to your feedback and questions

  7. The above distribution shows the proportion of members in the various asset allocation portfolios → 792 of 848 SMU plan members (93% ) participate in the asset allocation portfolios → 98 members have a different allocation portfolio for employee and employer contributions → 295 plan members are using Build-Your-Own strategy

  8. Pension Plan – education opportunities for plan members • Sun Life Information Sessions • Information for Recently Hired Members –Getting Started in the Plan • Harvest your Savings • Pension information tailored to members nearing retirement • Annual Retirement Seminar • One-on-one consulting – first session paid by SMU • Book purchase on retirement lifestyle • Canada Pension Plan information session • Pension Education Survey – February 2011 • 673 members received an invitation, 238 or 38.3% participated • Pension Education Committee reviewing responses • HR Department one-on-one orientation sessions for new members • Pension Website (SLF and SMU) • Quarterly statements • Annual General Meeting Pension Committee met 4 times in 2010 and 3 times so far in 2011

  9. Pension Plan – financial / budget report The pension committee has adequate funding to operate effectively: • Operating funding  $65,000 annual budget provided by SMU • 2010/11 expenses  $57,400 (pension consulting, member meetings and training, investment monitoring, information return to pension superintendent, member communication) • Accumulated reserve for pension administration  increased from $53,700 to $64,300 ($53,700 + $7,600 surplus + $3,300 interest - $300 admin fee)

  10. Conclusion • The pension plan continues to recover from the 2008-09 downturn • Continuing confidence in the overall integrity of plan design and processes/relationships • Committee is here for you • Tell us what we can do to support you

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