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

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saint mary s university pension plan

Saint Mary’s UniversityPension Plan

Annual General Meeting

June 2008



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


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.


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


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%)


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.

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


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)