UNBC Pension Plan Annual General Meeting

1
UNBC Pension PlanAnnual General Meeting

• April 1, 2009

2
Board of Trustees

• The UNBC Pension Plan is managed by a Board of
  Trustees. The board is comprised of both
  University appointed and Member Trustees.

3
University Trustees

• Chair Eileen Bray (Vice-President
  Administration and Finance)
• Vacant (Director, Human Resources)
• Colleen Smith (Director, Finance and Budgets)
• Betty Ann Shiels (External)

4
Member Trustees

• William Zhang (CUPE Rep)
• Shelley Rennick (Director Rep)
• Randall Brazzoni (Exempt Rep)
• Art Fredeen (Faculty Rep)

5
Pension Plan Governance

• The administration of the pension plan is vested
  wholly in the Trustees
• Fund administration is supported by Sun Life
• Independent investment advice is provided by
  Asset Performance Inc.
• Assistance with compliance issues is provided by
  Watson Wyatt

6
Investment/Administration Fees

• Investment management, custodial and member
  record keeping fees are set by fund managers and
  Sun Life
• Administration fees are used to offset any
  expenses related to compliance with pension
  legislation, implementation of any changes in
  pension governance, independent advise, revision
  of existing pension documents, etc., and are set
  by the Trustees.

7
Initiatives completed in 2008

• Reduced member Administration Fees to 4.00 per
  month from 5.50 effective July 1, 2008.
• Finalized revisions to the UNBC Statement of
  Investment Policies.
• Retirement Education Sessions were held in
  October.
• Default fund option was changed from a Money
  Market fund to the BGI Universe Bond Index Fund.

8
Initiatives completed in 2008

• Maintained and monitored compliance with the
  Canadian Association of Pension Supervisory
  Authorities (CAPSA) Pension Plan Governance
  Guidelines (ongoing).
• Removed the PHN Balanced Pension Trust Fund and
  added the BonaVista Balanced Segregated Fund due
  to less than satisfactory performance of the PHN
  fund.

9
Initiatives completed so far in 2009

• Effective January 1, 2009 a one year fee
  holiday was approved for the 4 per month
  Administration Fee.

10
Further Initiatives for 2009

• Provide opportunities for member education and
  workshops.
• Look at fund choices such as Milestone funds,
  which work in conjunction with projected
  retirement dates.

11
Conclusion

• The plan and its administrative processes are in
  compliance with all applicable legislation.
• All filing deadlines have been met.