Welcome

1. Welcome C a n a d a ’ s C a p i t a l U n i v e r s i t y Your Personal Statement of Benefits 2006 John Doe Human Resources 100123456

2. 2 About Your Statement This statement summarizes your personal coverage and benefits underthe Carleton University Benefit Program. The Retirement Plan valuesshown are for the period July 1, 2005 to June 30, 2006. In order to establish what your benefits may be in the future, certainassumptions have been made. For example, we have assumed you willcontinue working at the University until normal retirement at age 65.Moreover, the retirement benefits have been calculated on theassumption that your income will continue at its present level untilyour normal retirement date, and that other factors affecting yourpersonal situation will remain unchanged. As your years of service and earnings change, so will many of yourbenefits. These changes will be reflected in future statements. Benefits and premium cost sharing amounts have been determinedin relation to full salary. If you are receiving less than full salary someof the amounts shown may be overstated. If you are employed by a research grant holder your benefit eligibilitymay vary somewhat from the material contained in this document. This statement does not attempt to fully describe any of the benefitplans. While the information in this report is believed to be accurateall figures and interpretations are subject to the actual plan documents.Your actual retirement date is subject to University policy. More detailed information on the Benefit Plans is available on the Human Resources website at www.carleton.ca/humanresources. You have the right to view the financial and actuarial documentsrelating to the Retirement Plan, including the Statement of Investment Policies and Procedures. If you have any questions about your statement, please direct them to Human Resources, Employee Services, Tel. No. 520-3634.

3. 3 Basic Information The University records as of June 30, 2006 show: Your Basic Life Insurance beneficiary as Joan Doe Your Optional LifeInsurance beneficiary as Joan Doe Your Retirement Planbeneficiary as Joan Doe Your spouse's name as Joan Doe Your date of birth as August 1, 1953 Your date of appointment as July 1, 1984 Your date of Retirement Plan membership as July 1, 1984 The salary used in the pension calculations is at June 30, 2006 $ 52,786 Your credited participation in the Retirement Plan at June 30, 2006 22 years In accordance with pension legislation your spouse is entitled topre-retirement death benefits or a joint and survivor pensionbenefit. However, if a spousal waiver is filed or if you and yourspouse are living separate and apart at your date of death orpension commencement, these benefits are not required to be paidto your spouse, but will be paid to your beneficiary or estate. You participate in the plans indicated by an "X" below: X Extended Health Care X Dental X Short Term Disability (Paid Sick Leave) X Long Term Disability X Group Life Insurance X Carleton University Retirement Plan If you wish to view the current status of any of your benefits, please logon to Employee Self Service at http://central.carleton.ca

4. 4 Cost Sharing You and the University share the cost of your benefits. A list of the various benefit plans available to you and the approximate annual cost of your own coverage under these plans is shown below. The amounts are based on your status and the premiums as at June 30, 2006 and do not reflect the premium holidays. In addition to these costs, the University also bears the full cost of the Sick Leave Program, Vacations, and Holidays. The estimated amount paid annually by the University in total compensation is: Annual Salary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..$52,786 Benefit Plan Premiums . . . . . . . . . . . . . . . . . . . . . . . . . . . $9,943 Total Compensation Package . . . . . . . . . . . . . . . . . . . ..$62,729 Benefits an premium cost sharing amounts have been determinedIn relation to full salary. If you are receiving less than full salary some of the amounts shown may be overstated.

5. 5 Basic Group Life The amount of your Basic Life Insurance coverage is equal to twice your annual salary rounded to the next higher $1,000.If you continue to beyond your Normal Retirement Date, your Basic Life Insurance will reduce to one times salary rounded to the next higher $1,000, to a maximum of $25,000. Your Basic Life Insurance coverage stops at retirement or at age 70, whichever occurs first. Optional Group Life Insurance You may purchase Optional Life Insurance coverage to supplement your basic coverage. Optional insurance is available in multiples of $10,000 to a maximum coverage of $350,000. On your normal retirement date, coverage reduces by 50%, to a maximum of $100,000. If you continue to work at Carleton University beyond that date, your protection will terminate at retirement or age 71 whichever is the earliest. Evidence Of Insurability If you require optional insurance in excess of one times salary or if you apply for insurance after the 31-day period from your hire date, you will be required to submit evidence of insurability to the insurance company before your optional coverage becomes effective. Beneficiary Basic and optional insurance is paid to your beneficiary. You may name anyone you wish as beneficiary and change the beneficiary at any time. If you do not name a beneficiary, benefits will be paid to your estate. Disability Provision If you become disabled in accordance with the terms of the Group Life Insurance Policy, your Basic and Optional Life Insurance will continue without cost to you. Termination of Employment If you terminate your employment with the University, your Life insurance coverage remains in force for 31 days from the date of termination. During the 31 – day period, you may arrange to convert your group life insurance coverage to an individual policy. You will not be required to take a medical examination at the time of conversion. Human Resources will advise you on the necessary procedures involved in converting your life insurance coverage.

6. 6 Health Protection PROVINCIAL MEDICARE You and your dependents are covered by Provincial Medicare forstandard ward accommodation, eligible expenses for in-hospital procedures and, subject to provincial limitations, physicians' chargesfor office, home or hospital calls and diagnostic or therapeutic treatments. EXTENDED HEALTH CARE The Extended Health Care Plan consists of Semi-Private Hospital, Supplementary Medical, and Vision Care benefits. Semi-Private Hospital The plan pays 100% of the difference in cost between standard wardand semi-private hospital accommodation. Supplementary Medical The plan pays 80% of most medically required eligible expenses notcovered by other Plans after an annual deductible of $25 a person(or $50 a family) is satisfied. Such expenses include most drugs requiringprescription, clinical psychologist services, hearing aids, physiotherapistservices, private duty nursing, medical supplies, appliances andprosthetic devices. Some expenses are subject to maximum payments.The Plan pays 100%of the cost of eligible emergency medical treatmentoutside of Canada. Vision Care The plan pays 80% of the cost of eyeglasses and contact lenses upto a maximum benefit of $200.00 over 24 months per insured person. You and your family are covered under this Plan. Dental Plan The Dental Plan consists of Routine Treatment and Major RestorativeTreatment, and Orthodontic Treatment. Reimbursement is based on thecurrent year Dental Association Fee Schedule for General Practitionersof the Province in which treatment is rendered. Routine Treatment The plan pays 100% of eligible expenses. Such expenses include examinations, x-rays, fillings, extractions, root canal, denture repairs and relines, fluoride treatment.

7. 7 Major Restorative Treatment The plan pays 80% of eligible expenses to a maximum of $1000 perperson covered per calendar year. Such expenses include crowns and bridges. Orthodontic Treatment The plan pays 50% of the cost of eligible orthodontic treatment to alifetime maximum of $1,000 per insured person. You and your eligible dependents are covered under this Plan. Income Protection If you are unable to work because of sickness or injury, the IncomeProtection program may provide you with a continuous income duringyour absence. SHORT TERM DISABILITY (PAID SICK LEAVE) If you become sick or disabled and cannot work, the Sick Leave Planwill pay your full salary from your first day of absence for the periodof your sick leave entitlement. con’t next page

8. Con’t 7 LONG TERM DISABILITY Your entitlement is 6 months. If your disability lasts more than 6 months, and your Claim is approved by the insurer, the Long Term Disability Plan will pay you . . . . . . . . . . . . . . . . . . . . . . . . . $ 2, 859.24 a month for as long as you remain totally disabled until your normal retirement date. This amount will be reduces by any disability payments made under the Workplace Safety and Insurance Act and the Canada Pension Plan. Payments will be increased by up to 3% each January 1st to reflect changes in the cost of living. Total Disability means, for the first 2 years of disability, the inability to perform the duties of your regular occupation. For subsequent years, you must be unable to work at any gainful occupation for which you have at least the minimum qualifications. Other Benefits During Disability While you are receiving disability benefits, both employee andemployer Retirement Plan contributions will continue to accrue. YourExtended Health Care and Dental Plan coverage will continue at nocost to you. Subject to underwriting requirements, your Group LifeInsurance and Optional Life Insurance (if applicable) will also continueat no cost to you.

9. 8 Death Benefits The following benefits are payable, if your death occurs beforeretirement. Lump Sum Benefits $ 106,000 Basic Group Life Insurance $ 200,000 Optional Group Life Insurance  $ 200,000 Retirement Plan $ 8,798 University Death Benefit $ 2,500 Canada Pension Plan (Maximum) _____________ $ 517,298 Total Lump Sum Death Benefit * Canadian Government Annuities purchased before 1973 may provide an additional death benefit. If you die as a result of a work-related accident, the Workplace Safetyand Insurance Board will normally pay your spouse a lump sumamount which will vary, depending on your spouse's age. Income Benefits Your spouse and dependent children may be eligible for income benefits from the Canada Pension Plan up to a current maximum of: $ 471.85 per month for the spouse $ 200.47 per month for each dependent child If you die as a result of a work-related accident, the Workplace Safetyand Insurance Board will normally provide your spouse and dependentchildren with a monthly income which will vary depending on yourearnings and the age of your spouse.

10. 9 Carleton University Retirement Plan(Registration #0526616) Statement of Accounts Contri- Fund Value at butions Gains(+) Value at 2005/06/30 2005/2006 or Losses(-) 2006/06/30 Money Purchase Component Employee 85,238.47 2,489.04 6,796.07+ 94,523.58 University 95,266.11 2,621.04 7,589.27+ 105,476.42 Transfers/Past -0- -0- -0- -0- Service Additional Voluntary Contributions Employee -0- -0- -0- -0- University -0- -0- -0- -0- Transfers -0- -0- -0- -0- __________________________________________________________________________________________________ Total 180,504.58 5,110.08+ 14,385.34+ 200,000.00 The Fund return for the year ended June 30, 2006 was 7.88% Next page

11. Con’t. 9 Your Money Purchase Component account balance as shown abovevaries from year to year according to the investment performance ofthe Fund and contributions made during the year. This means thatpension estimates based on the Money Purchase Component willcontinually change during the years up to retirement. At retirement you will receive a pension provided by your Money PurchaseComponent account or your Minimum Guarantee Pension, whichever isgreater. Vesting  Vesting means your entitlement to the University contributions madeon your behalf. You are fully vested from date of Plan membership.

12. 10 Your Pension Calculation Your estimated retirement income is shown on page 12. Thecalculation estimates the benefit provided by your Money PurchaseComponent account and under the Minimum Guarantee. It alsoincludes benefits provided by Additional Voluntary Contributions aswell as the Canada Pension Plan and Old Age Security.The Minimum Guarantee Pension as shown on Page 12 is calculatedusing the following formula: years of Credited Service** multiplied by the sum of 1.29% of Final Average Earnings* up to the 5 year Average YMPE*** plus 2% of Final Average Earnings in excess of the 5 year Average YMPE*** *Final Average Earnings <- the average of your highest 5\years‘ earnings. **Credited Service - pension service to date plus future service to retirement. ***YMPE - Year's Maximum Pensionable Earnings as defined by CPP. As we can't predict what your best five years' average earnings will beat the time of retirement, the Minimum Guarantee Pension iscalculated based on salary listed in your Basic Information. However, for those employees who are within 5 years of retirement,we have averaged earnings so that your Minimum Guarantee Pensionwill be estimated more accurately.Your Canada Pension Plan benefits assume that your past and futurecontributions will qualify you fully for each benefit.The Old Age Security Benefits assume that you will meet the residence requirements. Any government benefits payable to yourspouse will be paid in addition to the amounts shown on this statement. The Pension Benefits Act of Ontario requires that at retirement a member with a spouse must select a joint and survivor pension with at least 60%of the pension continuing to the spouse after the member‘s death, unless this requirement is waived in writing by the spouse.Accordingly, the joint and survivor pension is shown in thecalculation on page12. GOVERNMENT MAXIMUM The Minimum Guarantee calculation is subject to the maximum benefit permitted by government legislation, as shown below: the lesser of: 2% of your average best 3 years' earnings or $2,111, multiplied by your years of pensionable service

13. 11 Forms of Pension Payment Your pension calculation on page 12 shows projected pension incomeunder two options: - Life, guaranteed five years - you receive a pension during your lifetime, guaranteed to be paid for a minimum of five years. This isthe normal form of pension under the Plan. - Surviving spouse 60% - you receive a reduced pension during yourlifetime and, if your spouse survives you, he or she receives apension for life equal to 60% of the pension paid to you.This form is required by law unless waived in writing by your spouse.There are other single life and joint & survivor forms of pensionavailable to you, both with various options.The amount of each form of pension is calculated so that the value ofany optional pension is actuarially equivalent to that of the normal form ofpension. To help you understand how an optional form ofpension relates to the normal form benefit, we have shown theapproximate percentage of benefit payable at age 65 under five of theoptional forms. Percentage of Pension Option ______Normal Form Pension_____ Normal Form 100% Life, guaranteed 10 years 96% Life, guaranteed 15 years 90% Life only (no guarantee) 102% Next page

14. Con’t. 11 Spouse's Age 6063656870 Surviving spouse's pension (60% continuation to spouse). . . . . . . . . . . 86% 88% 89% 91% 92% Joint and survivor pension (100% continuation to survivor). . . . . . . . . . . 78% 81% 82% 85% 87% You may choose to transfer the commuted value of your pension fromthe Fund at retirement to a Life Income Fund (LRIF) or a locked-in RRSP. You may also transfer the commuted value to purchase a unisex annuity directly from an insurance company. Due to recent amendments to the Income Tax Act, this option could have adverse tax consequences. You should seek independent financial advice before selecting this option. Prior to your retirement, staff in the Pension Section of Human Resources will provide you with complete details of the options available to you.

15. 12 Estimated Retirement Income If you are receiving less than full salary some of the amounts shown may be overstated. Your normal retirement date is July 1, 2018. To assist you in planning your retirement income, the calculations belowshow estimated annual income from the University Pension Plan, Canada Pension Plan, and Old Age Security. Normal Form Surviving Spouse (Life Guaranteed 60% Option* 5 years) (If applicable) RETIREMENT PLAN  (a) Money Purchase Pension (includes Canadian Government Annuities) Pension provided by your Money Purchase Componentaccount, assuming a Fund growth rate of 3% per year in real terms. . ……………………………………………. $ 33,362.52 OR (b) Minimum Guarantee Pension (includes Canadian Government Annuities Your starting pension will not be less than the Minimum Guarantee Pension which is estimated to be……………………………………. $ 25,732 Your estimated Minimum Guarantee Pension accrued toJune 30, 2006 is $ 16,000.

16. 13 (c) Estimated Pension from Retirement Plan (greater of Normal Form Surviving Spouse (Life Guaranteed 60% Option* 5 years) (If applicable) (a) or (b) above)  Normal Form - payable for your lifetime, guaranteed to be paid for a minimum of 5 years) . . . . . . . . . . . . . . . . . . . . . . .$ 33,362.52 Surviving Spouse 60% option* (if applicable) payable as long as you live and thereafter $ 17,815.84 payable for the lifetime of your spouse who survives you (assumes spouse of equal age) . . . . . . . . . . . . . . .$ 29,692.64 ADDITIONAL RETIREMENT BENEFITS (d) Pension provided by your Voluntary Contributions as at June 30, 2006 assuming a Fund growth rate of 3% per year in real terms. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0$ 0 GOVERNMENT BENEFITS** Canada Pension Plan (maximum amount) . . . . . . . . . . . . . . $ 10,135 $ 10,135 Old Age Security (maximum amount) . . . . . . . . . . . . . . . . . . $ 5,816 $ 5,816 ______________ ____________ TOTAL RETIREMENT INCOME . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 49,313.52 $ 45,643.64 Next page

17. Con’t. 13 The portion of your Carleton pension that will not reduce based on the investment returns of the fund is: 56% * If you have a spouse, this option is required by law unless waived in writing by your spouse. ** CPP and OAS benefits assume you qualify for the maximum benefit. To find out if you qualify, please call Human Resources Development Canada at 1-800-277-9914.

18. 14 Adjustment of Pension AfterRetirement After you retire, your pension will be adjusted each year based on theaverage investment experience of the Fund for that year and the3 preceding years. However, the investment experience for any pre-retirement year that is included in the formula, is deemed to be 6%.Adjustments can produce a reduction as well as an increase in you pension. However, the portion of your pension that relates to pre-July 1, 2003 pension credits and contributions will not reduce. Group Registered Retirement SavingsPlan The University sponsors a Group RRSP. Contributions are not matchedby the University and can be made by either payroll deduction or lumpsum. For further details please contact Human Resources. Tax-assisted Retirement Savings If you filed an income tax return for 2005, your Notice of Assessmentfrom Revenue Canada will include a "2006 RRSP Contribution LimitStatement" that shows you the tax-deductible amount that you may contribute to a Registered Retirement Savings Plan for 2006. Additional Voluntary Contributions You may elect to make Additional Voluntary Contributions for the purpose of increasing your pension benefits. Such contributions will bepermitted up to the maximum allowable under the Income Tax Act.You may withdraw your Additional Voluntary Contributions to theextent that they are not locked-in. If you withdraw these contributions, you will not be permitted to make further Additional VoluntaryContributions to the plan. Contributions can be in the Form of cash deposits, payroll deductions or RRSP transfers.

19. 15 Early Retirement You may take Early Retirement at or after age 55. You will receivethe greater of your Money Purchase Pension or your Minimum Guarantee Pension plus a pension provided by your VoluntaryContributions. At Early Retirement your Minimum Guarantee is basedon your Final Average Earnings and Plan participation to your EarlyRetirement Date. This benefit is reduced by 3% per year (1/4% permonth) for each year of Early Retirement prior to your normal retirement date. Early Retirement Supplement If, as at July 1, 2003, you were a member of the Retirement Plan and your were age 45 or older, you will be eligible toreceive an Early Retirement Supplement if you have ten years ofcontinuous service with the University immediately prior to the date ofyour early retirement. This supplement is a temporary pension Payablefrom the date of retirement to age 65, whichever is earlier. The annual amount of thesupplement is calculated as follows: $5,176.32 multiplied by your years of pensionable service to a maximum of 20 divided by 20 Canada Pension Plan The Canada Pension Plan retirement benefit is normally payable fromage 65. However, on Early Retirement you may apply to receive areduced benefit from age 60. Retirement Planner You can access your pension information and run your own pension projections from any computer with an Internet connection using the Retirement Planner for Carleton University Retirement Plan members. Sign up At http//www.carleton-ret.ca and click on “Forgot your password” and follow the instructions or ask Human Resources for assistance. Pension projections in this booklet assume you are working full time (100%), salary Increases of 0% and an investment return rate of 3 %.

20. 16 • Termination of Employment • If you terminate your employment with the University you can chooseone of the following options: • 1. Transfer the greater of your Money Purchase Component, including the University's portion, or the commuted value of your MinimumGuarantee Pension to the Pension Plan of a subsequent employer or to a Registered Retirement Savings Plan. The transfer is conditionalupon the amount being used to provide a life annuity, a LifeIncome Fund, or a Locked-in Retirement Income Fund. • 2. Leave your Money Purchase Component Account in the Plan. The balance will continue to accumulate fund investment earnings and provide you with a pension at retirement. Inactive members, who terminated before age 55, are charged an annual administrationfee equal to 0.25% of the member's account balance. • 3. Receive a cash refund of your own contributions with investmentearnings. In this case you forfeit the matching Universitycontributions made on your behalf.Provincial legislation does not permit you to take a cash refund • (option #3) of your Money Purchase Component, • if you are age 45 or over and have 10 or more years ofcontinuous service when you terminate, or • with respect to contributions made after January 1, 1987, if you have completed 2 years of Plan participation, • regardlessof age. • Additional Voluntary Contributions can be withdrawn in cash,transferred to another plan or R.R.S.P. or left in the Plan. However,any special transferred contributions which were subject to "locking-in“must remain locked-in. Cash withdrawals are subject to taxation. • Mandatory Retirement • Effective December 12, 2006, Mandatory Retirement is eliminated in Ontario and you have the option of working past your Normal • Retirement Date (NRD). If you continue to work past your NRD, you may choose either to continue your contributions to the Retirement Plan or to cease contributions. If you are over age 65 and in receipt of a CPP Retirement Pension, your pension contributions will be based on 6% of your total earnings to the maximum contribution level. Under current pension legislation, you will be required to start your pension no later than the end of the year in which you attain age 69. Other benefits such as Life Insurance and Long Term Disability may reduce or cease at your NRD. Please contact Human Resources for more information.

21. 17 CARLETON UNIVERSITY RETIREMENT PLAN (Registration #0526616) Summary of the Financial Statementof the Pension Trust Fund(in thousands of dollars) Market Value of Fund at June 30, 2005$682,495 Contributions during the year - Contributions by members Required $6,351 Voluntary 1,004 - Contributions by the University ___ $10,036 17,391 Investment Income - Investment income received $22,238 - Net realized capital gains $36,953 - Unrealized increase/(decrease) in market value of investments (3,155) 56,036 Payments during the year - Pensions $(32,592) - Termination and death benefits (7,141) - Administrative expenses (3,355) (43,088) Market Value of Fund at June 30, 2006 $712,834 The financial position of the plan must be reviewed by an independentactuary at least once every three years. The most recent actuarialvaluation was completed as at July 1,2004. This valuation showed thatthe plan had a deficit of $8 million on a going-concern basis. Effective July 1, 2004, the University began making special payments to the plan in the amount of $843,000 annually in order to fund the deficiency.Any surplus in the Plan on wind-up will be used to improve members‘pension benefits to the maximum extent permitted by the Income TaxAct maximum benefit limitation in the Plan text.

22. 18 Financial and Estate Arrangements The preceding pages summarize the protection available to you underthe University benefit program and from government benefits. It isequally important to review the personal arrangements you have madefor you and your family. The following provides a convenient way ofreviewing and itemizing the details of your personal arrangements. IMPORTANT MEASURES TO TAKE 1. Review your will and/or trust instruments for: - changes in beneficiaries, births, deaths, marriages, etc.; - changes resulting from maturity of children, illness, significant changes in assets, etc.; - revisions to federal and provincial taxes, estate and property laws which may affect your will; - changes that may be desirable in executors, trustees and guardians. 2. Review your personal insurance program to ensure that it meets your present needs and that the beneficiary designations are up-to-date. Insurance Company Policy No. Face Value _________________________________________________________________________ 3. Bank Accounts : Bank Branch Account No. _________________________________________________________________________ _________________________________________________________________________ 4.Location: Will ______________________________________________________________ Bank Books _______________________________________________________________ Insurance Policies____________________________________________________________ Safety Deposit Box (No. ) __________________________________________________

23. 19 - Other important papers (tax returns, share certificates, mortgage contracts, etc.) _______________________________________________________________ ____________________________________________________________________________ ____________________________________________________________________________ 5. Persons to reach in case of death: Name Telephone - Family member _____________________________________________________________ - Executor ___________________________________________________________________ - Lawyer ____________________________________________________________________ - Insurance Agent _____________________________________________________________ - Pension & Benefits ___________________________________________________________ 6.Registered Retirement Savings Plan (RRSP): Trustee Branch Account No. ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ 7. Real Estate: Description Location of Contracts ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ 8.Stocks and Bonds: ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________

24. 20 - Notes -