Transcript WELCOME! [www.bellpensionersgroup.ca]

WELCOME!
Ottawa Chapter
Spring AGM Meeting
May 28, 2013
AGM Agenda
9:30
9:40
10:00
11:00
11:25
12:25
12:30
May 28, 2013
Welcome & Introduction
Marlyn Easterbrook
Treasurer’s Report Don Dutton
President’s Report Dan McDonald
Q&A
~ Break ~
Guest Speaker – Peter McKenna
Executive Director: Rideau Community
Health Services
Wrap Up
Meeting Close
2
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Video of President’s Report on Website
www.bellpensionersgroup.ca
May 28, 2013
3
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May 28, 2013
Communications
Facebook
LinkedIn
4
!!!!! RECRUITMENT !!!!!
May 28, 2013
5
NEXT MEETING
Tuesday October 29, 2013
9:30 a.m. - 12:30 p.m.
Nepean Sportsplex
May 28, 2013
6
Ottawa Chapter- Financial Report
May 28, 2013
Don Dutton
Ottawa Chapter Treasurer
Financial Summary – BPG Inc.
Year ending Dec. 31, 2012
2012
2011
REVENUES
215,976
214,740
EXPENSES
165,599
175,222
Excess Rev/Exp
50,377
39,518
Total Members
10,059
10,179
May 28, 2013
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Paid Membership – Ottawa Chapter
Year ending Dec 31, 2012
May 28, 2013
Year
Members
Increase
2006
1132
172
2007
1252
120
2008
1206
(46)
2009
1332
126
2010
1356
24
2011
1331
(25)
2012
1235
(96)
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Financial Summary – Ottawa Chapter
Year ending Dec 31, 2012
2012
REVENUE
25,403
Transfer to Corporate 13,220
EXPENSES
6,269
Excess Rev/Exp
5,914
2011
27,140
12,620
9,919
4,978
Bank Account *
Total Paid Members
32,956
1,331
36,251
1,235
*Includes Deferred Member Fees & PayPal Income
May 28, 2013
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Financial Summary – Ottawa Chapter
Year ending Dec 31, 2012
Revenue
Member Fees
Other Income
Total Revenue
Expenses
Meeting Facilities & Expense
Postage & Printing
Telephone (Conf. Calls)
Office Supplies
Office Equipment
Gifts/Donations
Membership Promotion
Bank Charges
PayPal Fees
Total Operating Expense
Transfer to Corporate
Excess of Rev/Exp
May 28, 2013
2012
25,060
343
------------25,403
2011
27,140
377
------------27,517
2,813
855
69
420
318
50
1,529
94
121
------------6,269
13,220
------------5,914
3,585
2,834
0
360
2,095
100
640
130
175
------------9,919
12,620
------------4,978
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Financial Summary – Ottawa Chapter
Balance Sheet
Year ended Dec 31, 2012
ASSETS
Current Assets
- Bank Account
- PayPal Account
- Pre-Paid Expense
Total Assets
36,218
34
157
-----------36,409
LIABILITIES & EQUITY
Current Liabilities - Prepaid Memberships - 2013
12,580
- 2014 to 2020
2,360
-----------Total Current Liabilities
14,940
Total Equity - (Retained Earnings + Net Income 2012)
21,469
------------
Total Liabilities & Equity
May 28, 2013
36,409
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BPG Ottawa Chapter
How your money was spent in 2012
May 28, 2013
13
Fiscal Year 2013
As of May 16, 2013
Member Database
1,443
Paid Membership – 2013
1019(70%)
Revenue (Membership fees) 2012
2013 & Beyond
Interest & Other
Total Revenue
Expenses Postage & Printing
Office Supplies
PayPal Fees
Bank Charges
Total Operating Expense
Transfer to Corporate
Net Income YTD
May 28, 2013
420
20,380
289
21,089
488
52
129
39
709
10,380
10,000
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Ottawa Chapter Balance Sheet
As of May 16, 2013
ASSETS
Current Assets
- Bank Account
20,054
- PayPal Account
- Reserve Account-GIC
Total Assets
1,034
15,000
-----------36,088
LIABILITIES & EQUITY
Current Liabilities
- Prepaid Memberships - 2014
- 2015 to 2020
3,360
1,260
-----------Total Current Liabilities
Total Equity - (Retained Earnings + Net Income 2013)
Total Liabilities & Equity
May 28, 2013
4,620
31,468
-----------36,088
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Approval of Auditors - 2013
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In accordance with the new Not for Profit
regulations
I move –
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That the firm BDO Canada be retained as the auditor
for BPG until the close of the next annual meeting at
the remuneration agreed to in the response –
Request for Audit Services
May 28, 2013
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Approval of Financial Audit for 2013


In accordance with the new Not for Profit
Corporations regulations
I move –
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That BDO Canada be asked to conduct an audit
engagement instead of the default review
engagement as required under the new Canada Not
for Profit Corporations Act
May 28, 2013
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Bell Pensioners' Group
May – June 2013
President's Report
Presented by Dan McDonald
Summary
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Changes to By-law No. 1
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Establishment of a new Chapter
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Plan Performance
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Indalex Decision
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Focus for 2013
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BPG Board of Directors
May 28, 2013
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By-law No. 1
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The Act has changed and not-for-profit
corporations must make sure that their By-laws
are consistent with the new Act
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The new Act forces some changes to the BPG
By-law
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All Board directors must be elected, including
that the Chapter chairs being appointed to the
Board automatically
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At the same time, other changes are proposed
to simplify organizational change
May 28, 2013
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By-law No. 1
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Outlines
 Rights and responsibilities of members
 Organization of BPG
 Obligations of the BPG Board
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Must be approved by membership
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Must be approved by Industry Canada
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Must conform to the Canada Not-for-profit
Corporations Act (NFP Act)
May 28, 2013
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Objectives for By-law Changes
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Compliance with the new Act
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No change of members' rights
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Organizational flexibility
May 28, 2013
22
By-law Changes – Chapter Chairs
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Until now: each chapter chair, elected by that
chapter's members, automatically sits on the
Board
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With new Act: members of each chapter will
elect one Director to sit on the Board, and
that Director will also be the Chapter Chair
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End result: no practical change
May 28, 2013
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Other Changes (required by Act)
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Notice of meetings: 21 days (up from 14)
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Financial statements: must be made available
21-60 days before AGM
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2/3 voting majority needed to change any Bylaw provisions affecting
 Members'
rights
 Voting process & notice of meetings
 Special general meeting must be called if
5% of members request it (previously: 25%)
May 28, 2013
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BE IT RESOLVED AS A SPECIAL
RESOLUTION THAT:
1. The directors of the Corporation are
authorized and directed to make an
application under section 297 of the NFP
Act to the Director appointed under the NFP
Act for a Certificate of Continuance of the
Corporation;
2. The Articles of Continuance (transition) of
the Corporation, which have been submitted
to this meeting and are annexed to these
minutes as Schedule A, are approved;
May 28, 2013
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BE IT RESOLVED AS A SPECIAL
RESOLUTION THAT:
3. The general operating By-law of the Corporation
(as amended) is repealed effective on the date
that the corporation continues under the NFP Act
and the new general operating By-law No.1
which has been submitted to this meeting and is
annexed to these minutes as Schedule B is
approved and will be effective on the same date.
4. Any one of the officers and directors of the
Corporation is authorized to take all such actions
and execute and deliver all such documentation,
including the annexed Articles of Continuance
(transition), the notice of registered office and of
directors in the forms fixed by the Director, which
are necessary or desirable for the implementation
of2013this resolution.
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May 28,
Motion
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Approval of By-law changes
May 28, 2013
27
Establishment of a new Chapter
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In early 2012, retirees from Télébec sought
the possibility to join BPG. Since they were
under Bell Aliant’s accountability, BPG did
not have access to the information related to
their DB Pension and Benefit plans.
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BPG proposed to Télébec’s retirees the
establishment of a new Chapter which would
provide the required expertise to answer
requests associated to their DB Pension and
Benefit plans.
May 28, 2013
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Establishment of a new Chapter (cont’d)
Value added for BPG:
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Consolidating Bell/BCE DB Pension retirees
under one entity
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Providing BPG more influence facing Bell/BCE
and Government
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Focusing one voice and one direction when
negotiating with BCE and Government
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Better understanding of other DB pension plans
managed under Bell/BCE
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Increasing BPG’s membership
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Getting closer to the members in the regions
May 28, 2013
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Plan Performance ($M)
1000
Plan Valuation Report as
of December 31, 2011
Trend 2004-2011
500
0
2003 2004 2005 2006 2007 2008 2009 2010 2011
-500
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Solvency Shortfall $3,134.6M
-1000
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Solvency Ratio
79.7%
-1500
-2000
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Return on Assets
4.95%
-2500
-3000
Fully
Funded
May 28, 2013
Actuary
Value
Market
Value
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Bell’s Contribution in 2012
$1,142.8 M
_
$565.7 M
=
$577.1 M
+
$750 M
=
$1,327 M
May 28, 2013
Bell excess prepayments
as of December 31, 2011
Used to reduce the
amortization payment
Minimum amortization
payment required in 2012
Bell excess prepayments
as of December 31, 2012
2012 contribution DB &
DC normal cost and special
advance contribution
Bell excess prepayments
going in 2013
31
Indalex Decision
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Ontario Court of Appeal ruling gave pensioners
claims priority above those of other creditors,
including the debtor-in-possession (DIP)
lenders
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The Supreme Court of Canada agreed that
while the deemed trust established under
provincial law did confer a priority on the
pensioners, the laws of the federal government
are paramount when federal and provincial laws
conflict
May 28, 2013
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Indalex Decision
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As the DIP priority came under the federal
law, it superseded the priority granted under
the provincial law
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Bad news for those pension plans that fall
completely under federal jurisdiction
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BPG must continue its efforts with the Federal
Government to enshrine pension protection
safeguards in federal legislation or regulations
May 28, 2013
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Security of our Pension Promise
BPG Focus for 2013

BPG will continue its efforts with the Federal
Government to enshrine pension protection
safeguards in federal legislation or regulations - Letter
to Minister Flaherty
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Follow-up of the d’Amour Expert Committee Report
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Key topics the Pension Committee will pursue in 2013:
1. Corporate Restructuring
2. Indexation Calculations
3. Trade COLA for Enhanced Pension
4. Pension vs Annuities
5. Valuation Methods
6. Investment Strategies
May 28, 2013
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BPG Board
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Dan McDonald (President)
Charlie Labarge (Vice-President)
Penny Gilray (Treasurer)
Lancy Hum (Secretary)
Committees
Chapter Chairs
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Marlyn Easterbrook (Ottawa)
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Titus Ramkhalawansingh
(Toronto)
Roberte Cadieux (Communications)
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 Bob Farmer (Governance)
 Bob Bartlett (PC, Nominations)
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 Marg Eades (PC)
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 Ron Hunt (Governance)
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 Jean-Luc Geha (Audit)
 Michel Doyon (Audit & PIC)
 Louise Touchette (Nominations)
 Sue Dawes (Alternate PIC rep)
May 28, 2013
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Frank Bible (SW Ontario)
Robert Guay (Montreal)
Jean Lamer (Quebec City)
Norm Kelly (Télébec)
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Q&A
May 28, 2013
36
NEXT MEETING
Tuesday October 29, 2013
9:30 a.m. - 12:30 p.m.
Nepean Sportsplex
May 28, 2013
37