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WELCOME!

WELCOME!. Ottawa Chapter Fall Meeting October 28, 2010. Meeting Agenda. 9:30 a.m. Meeting call to order & review of agenda 9:35 President’s Report: Pension update 10:00 Wills & Estate Planning – Eric Honey 11:30 ~ Break ~ 11:50 Chapter Update & New Business

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WELCOME!

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  1. WELCOME! Ottawa Chapter Fall Meeting October 28, 2010

  2. Meeting Agenda 9:30 a.m. Meeting call to order & review of agenda 9:35 President’s Report: Pension update 10:00 Wills & Estate Planning – Eric Honey 11:30 ~ Break ~ 11:50 Chapter Update & New Business 12:20 p.m. Question & answer session 12:30 Adjournment

  3. Bell Pensioners' GroupOctober 2010President's Report Presented by Bob Farmer

  4. Bell Pension Plan Performance Plan Valuation (31 Dec 2009) • 2008 Plan Return: -19.5% • 2009 Plan Return: +15.1% • 2010 (Jan-June) Return: +1.2%

  5. Plan Surplus/Deficit • Solvency: assumes plan wind-up • Negative numbers (deficit) means plan under-funded • Recovery from 2008 underway, but will take time

  6. Actuarial vs Market • Actuarial (smoothed) values used for plan funding purposes • Actuarial values lag actual market values • Currently, solvency deficiency greater when market values considered

  7. Solvency Ratio • Tests whether plan can deliver pensions even if plan is wound-up • Measures proportion of liabilities that can be covered • Market value: actual value of assets used

  8. Achieving Full Funding • Bringing the Plan back to Health over time • Asset growth; liability decrease; funding

  9. Pension Advocacy • BPG very active in advocating changes to pension rules • Legislative amendments passed by House in 2010 • Some regulatory amendments in place, others to follow

  10. Pension Advocacy Recent Improvements • No voluntary plan termination unless plan fully funded (within five years) • Contribution holiday only if 5% surplus remains • Annual plan valuations and funding reset • Smoothing over 3 years • Solvency ratio based on market value of assets • Deviations from funding rules only with consent of pensioners • Maximum surplus increased to 25% from 10%

  11. Pension Advocacy A disappointing rule change • Old rules required plan deficiency to be eliminated in five years (or ten years as an exception) • New rules give sponsors more time • one-third of deficiency remains after 5 years • one-tenth of deficiency remains after 10 years • Must be experience tested

  12. Pension Advocacy - Current • Federal: • Review amendments to regulations as they are announced • Enhance protection of pensioners whose plans fail • Business Insolvency Act; CCAA • Ontario: • With Canadian Federation of Pensioners • Influence Ontario pension legislation/regulation • CFP objective: protect the pension promise for members of Ontario pension plans • BPG objective: help Ontario be a positive model for Federal rules

  13. Gwen Guillet Lancy Hum Ron Hunt Pam Went Frank Bible Al Bowcott Yvan Dutrisac Marlyn Easterbrook Yvan Pacaud BPG Board André Bergeron Bob Bartlett Michèle Boyer Sue Dawes Michel Doyon Bob Farmer Betty Gauthier Jean-Luc Geha Linda Gervais Robert Guay

  14. Wills and Estate Planning Eric Honey Honey MacMillan Gilhooly & Baldwin

  15. BREAKMeeting resumes in 20 minutes Ottawa Chapter Meeting October 28, 2010

  16. Ottawa ChapterUpdate Marlyn Easterbrook Ottawa Chapter Chair

  17. Ottawa Chapter Update • Membership growth • Circle of Friends results • PayPal launch • Benefits • Audit of Bell retirees • Treasurer’s update • Chapter changes • Circle of Friends draw

  18. Our # 1 Priority: Increase Membership • Growing our membership is critical to the success of our organization • We have implemented many initiatives • Meetings outside Ottawa: Kingston, Sudbury & Pembroke • 4 newsletters per year • Email “blasts” • Online payment of membership dues (PayPal) • Circle of Friends membership drive • Our strength is in our numbers & you can help! • Check your In Touch magazine for the recent retirees and if you know any of the people listed, please contact them and encourage them to join BPG

  19. Circle of Friends 2010 Membership Drive results • Referrals received: 247 • Members already 67 • Non-Members (potential) 180 • Of the 180 potential members: • 54 said will join (30%) • 13 verified joined (8%)

  20. Our strength in numbers 20 20 The following summarizes the BPG Membership Count: Dec 2008Dec 2009Oct 15, 2010 Ottawa 1,206 1,332 1,269 BPG Total 9,944 10,213 10,256 We are committed to a minimum of 5% yr/yr growth We need your help to ensure that we exceed our total from last year

  21. PayPalTM Launch • Our Ottawa trial was very successful • As of Sept: 91 members paid 2010 dues using PayPal, including 21 new members • A Corporate PayPal application has now been developed and it will be rolled out to all Chapters as of November 1, 2010 • This could not have happened without the great work and leadership of our Ottawa webmaster, Terry Acker and our Ottawa treasurer, Don Dutton

  22. Benefits Dental: • Retired prior to July 2000: rates paid are from the 1988 Dental Schedule and are unlikely to be updated • Retired after July 2000: rates paid are at a 2-year lag in rates (i.e., rates paid in 2010 are from the 2008 schedule) Plans A & B: • Rates for the Plan B reflect only the rates charged by the insurance company • These rates are not used to defray the costs for Plan A

  23. Audit of Bell Retirees • A sample audit is planned for the Spring 2011 • Used by Bell to verify pensioner information • The last audit was a census (audit of every retiree) but this time the plan is a sample only • If you are not part of the audit, don’t worry your pension cheque will not be affected

  24. Ottawa ChapterFinancial ReportNote: due to the confidentiality of the financial information, these slides have been excluded from this web version. Don Dutton Ottawa Chapter Treasurer

  25. Ottawa ChapterNew Business Marlyn Easterbrook Ottawa Chapter Chair

  26. Communications Director • Our BPG Board is looking for a person to replace André Bergeron as Communications Director • If you would be interested in this position or know someone who may be interested, please contact me or see me at the end of the meeting

  27. Ottawa Chapter Changes Secretary: • Geraldine Foot is replacing Lancy Hum who is becoming the Corporate Secretary Membership Coordinator: • John Campbell has retired as our Membership Co-ordinator & we have split the job • Ed Wilton becomes our Membership Co-ordinator • Betty Gauthier is responsible for Membership Communications • On behalf of our Executive Committee, I wish to thank Lancy and John for their dedication and outstanding contribution to BPG. Both have agreed to stay on and help our Ottawa executive. • I am  happy to welcome George McDougall to our Ottawa Executive

  28. Next Meetings Ottawa: Tuesday, May 24, 2011 Nepean Sportsplex Kingston: Wednesday, May 25, 2011 Kingston Curling Club Pembroke: TBA

  29. THANK YOUMARC DAVIDSON

  30. Circle of Friends Draw Prizes: three free BPG membership for 2011 Three winners from our membership campaign: • Person with the most referrals • Don Wilson provided 103 referrals • Draw for 2 more winners We are all winners!

  31. QUESTIONS & ANSWERS

  32. NEXT MEETING Tuesday, May 24, 2011 9:30 a.m. - 12:30 p.m. Nepean Sportsplex

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