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SMU Pension Plan Annual General Meeting - Governance and Financial Report

Learn about the governance and financial aspects of the SMU Pension Plan in the Annual General Meeting. Get updates on investments, member support, education opportunities, and the financial/budget report.

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SMU Pension Plan Annual General Meeting - Governance and Financial Report

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  1. Saint Mary’s UniversityPension Plan Annual General Meeting June 2009

  2. Agenda Governance Overview and Financial Report – 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 • 2008/09 has been a very challenging year for all investors • 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

  4. 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

  5. Member Support • As pension plan member, you direct the investment of your pension assets • 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

  6. The above distribution shows the proportion of members in the various asset allocation portfolios (87% of plan members at SMU use the portfolios) 127 members have a different allocation portfolio for employee and employer contributions

  7. Pension Plan – education opportunities for plan members • Sun Life Information Sessions • Information for Recently Hired Members • “MyMoney” Tools • Pension information tailored to members nearing retirement • Group session designed for SMU pension plan members (Mercer) • One-on-one consulting – first session paid by SMU • Book purchase on retirement lifestyle • Investing in Distressed Markets (Mercer) • How to Select a Financial Advisor (Mercer) • Canada Pension Plan information session • HR Department one-on-one orientation sessions for new members • Pension Website (SLF and SMU) • Quarterly statements • Annual General Meeting Pension Committee met 6 times during 2008

  8. Pension Plan – financial / budget report The pension committee has adequate funding to operate effectively: • Operating funding  $65,000 annual budget provided by SMU • 2008/09 expenses  $83,000 (pension consulting, member meetings and training, investment monitoring, information return to pension superintendent, member communication) • Accumulated reserve for pension administration  decreased from $80,400 to $78,300 ($80,400 - $18,300 deficit + $3,200 interest + $13,000 reversal)

  9. Conclusion • The pension plan and its members have not been immune to the financial market events of past year • 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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