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

2. Agenda Introductions Plan Overview Fund Lineup Plan Governance
Initiatives
Questions

3. 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

4. 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 s for invites to workshops provided by Sun Life representative. Various topics including “Investment planning” and “Save for Retirement” are available.

5. 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 s 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

6. 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

7. 2017 Fund Lineup

8. 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

9. 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

10. 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

11. 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

12. 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

13. 2016 UNBC Pension Budget

14. 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

15. Questions?
For live stream viewers, please your questions to
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