UNBC Pension Plan Annual General Meeting Presented by: Robert Knight, Vice-Present Finance and Business Operations

Agenda Introductions Plan Overview Fund Lineup Plan Governance Initiatives Questions

Plan Overview Defined Contribution Plan Eligibility Vesting On date of hire if a regular employee works more than .51 FTE or after 2 years continuous employment Vesting Immediate upon enrolment

Plan Overview Locking In: Immediate, upon enrolment Authority: Pension Benefits Standards Act of BC Education New & current member orientation sessions with a Human Resources and a Sun Life representative Online options available on the Sun Life web site Education Workshops Voluntary Contributions Allowed within CCRA guidelines but employer does not match Human Resources orientation – Enrollment and basic pension information disseminated from HR to new pension eligible employee Sun Life to host regular benefits and pension website orientations. Help members navigate website and use available tools on the website. Education workshops – Look for Announce emails for invites to workshops provided by Sun Life representative. Various topics including “Investment planning” and “Save for Retirement” are available.

UNBC Defined Contribution Plan Overview UNBC Defined Contribution Pension Plan Employee Contributions UNBC Contributions Human Resources orientation – Enrollment and basic pension information disseminated from HR to new pension eligible employee Sun Life to host regular benefits and pension website orientations. Help members navigate website and use available tools on the website. Education workshops – Look for Announce emails for invites to workshops provided by Sun Life representative. Various topics including “Investment planning” and “Save for Retirement” are available. 3% of earnings up to the YMPE 5% above the YMPE Additional Voluntary (no match) Transfers-in allowed 8% of earnings up to the YMPE 10% above the YMPE 2017 Yearly Maximum Pensionable Earnings (YMPE): $55,300

Funds 20 fund options available through Sun Life: GIC (1, 3 & 5 years) Bond Funds (2) Diversified Income (1) Canadian Equity (4) Foreign Equity (6) Money Market (1) Balanced Funds (3) Plan member responsible for obtaining independent investment advice Default Fund is the Beutel Goodman Balanced Segregated Fund Investment changes can be made at any time

2017 Fund Lineup

Plan Governance: The UNBC Pension Plan is managed by a Board of Trustees 3 University Appointed Trustees: 1) Vice-President, Finance and Business Operations (Chair) -Robert Knight 2) Associate Vice President, Financial Services -Colleen Smith 3) Associate Vice-President, People, Organizational Design, and Risk -Barb Daigle

Plan Governance 4 Employee Representative Trustees: Directors Group – Kathie Scouten, Director Development & Alumni Relations Exempt Employees – William Chew, Treasury Services Manager Faculty – Hossein Kazemian, Sr. Lab Instructor – Northern Analytical Lab Service (NALS) CUPE – Catherine King, Field Education Coordinator/ Administrative Assistant - Social Work 1 External Trustee: 1) Betty Ann Shiels - Deloitte Canada

Plan Governance continued Fund administration is supported by Sun Life Independent investment advice is provided to Trustees by Ellement Consulting Group (formerly Asset Performance Inc.) Governance advice is provided by Aon Hewitt

Investment/Administration Fees Investment management, custodial and member record keeping fees are set by fund managers and Sun Life. Fees range from 0.19% to 1.00% Administration fees are used to offset any expenses related to compliance with pension legislation, implementation of changes to pension governance, independent advice, revision of existing pension documents, etc. and are set by the Trustees as part of budget process. Administration Fee $4.00/month per member

Initiatives started/completed in 2016 Plan member education sessions continued throughout the year, delivered by Sun Life Open pension orientations to new and continuing members on how to use the Sun Life website Sun Life hosted workshops on various topics

2016 UNBC Pension Budget

2017 Initiatives Trustee education for new trustee members Maintain admin fee charge of $4/month per member Heighten the members’ awareness of their investment responsibility Continue to educate members on how to use the Sun Life website for their pension account information Sun Life webinars now available – see Pension website Trustee education – governance and fiduciary training from aon -quarterly performance report walkthrough – ellement Members investment responsibility -default fund letters informing employees that they should look at diversifying their funds with a personal financial advisor

Questions? For live stream viewers, please email your questions to benefits@unbc.ca Trustee education – governance and fiduciary training from aon -quarterly performance report walkthrough – ellement Members investment responsibility -default fund letters informing employees that they should look at diversifying their funds with a personal financial advisor