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Saint Mary’s University Pension Plan

Saint Mary’s University Pension Plan. Annual General Meeting June 2008. 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 2008

  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. The pension plan has a substantial portion (44%) of membership in mid-career (age 35 to 49). However, older plan members (age 50+) hold 73% of the plan assets.

  4. The above distribution show the proportion of members in the various asset allocation portfolios (72% of plan members at SMU use the portfolios)

  5. Individual asset mix  General pattern not as expected. Very little difference in change in asset mix from age 30 to 60 Many individuals at 100% equity (at older ages) or 100% fixed income (at younger ages) Many late career individuals with higher equity weightings (average about 50%)

  6. Socially Responsible Investment (SRI) SRI has traditionally suffered from a few major problems • lack of availability • excessive management fees • poor financial returns making them unattractive for pension funds Recently Sun Life has added a few interesting funds to consider • Three McLean Budden products now screen for sale of armaments, sale and manufacture of tobacco products and/or alcoholic beverages, provision of gaming facilities • These are available now, and fees seem to be competitive; however, investment performance may be an issue Mercer also recently announced expanded manager research • Mercer manager research will consider environmental, social and governance factors; Mercer will evaluate the extent to which fund managers pro-actively integrate ESG factors into their mainstream investment process.

  7. Pension Plan – education opportunities for plan members • Sun Life Information Sessions • Plan member training on the pension website • Harvest your savings • Financial Partners Information Sessions • Investors Group – Retirement Planning • CIBC – Getting Ready for Retirement • Pension information tailored to members nearing retirement • Two group sessions designed for SMU pension plan members (Mercer) • One-on-one consulting – first session paid by SMU • Book purchase on retirement lifestyle • 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 5 times during the past year

  8. Pension Plan – financial / budget report The pension committee has adequate funding to operate effectively: • Operating funding  $65,000 annual budget provided by SMU • 2007/08 expenses  $55,000 ($10,000 surplus) (pension consulting, member meetings and training, investment monitoring, information return to pension superintendent, member communication) • Accumulated reserve for pension administration  increased from $81,200 to $94,900 ($81,200 + $10,000 surplus + $3,700 interest)

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