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

2. 2 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 Agenda

3. 3

4. 4 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.

5. 5 The above distribution show the proportion of members in the various asset allocation portfolios (72% of plan members at SMU use the portfolios)

6. 6  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%) Individual asset mix

7. 7 Socially Responsible Investment (SRI) 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. 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 SRI has traditionally suffered from a few major problems  lack of availability  excessive management fees  poor financial returns making them unattractive for pension funds

8. 8 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

9. 9 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)

10. 10