Transcript Municipal Pension Plan

Accountable to You
4th Annual General Meeting
October 15, 2005
Vancouver
Webcast
Today’s Meeting
9:30 am
9:45 am
10:15 am
10:45 am
11:00 am
11:45 am
12:15 pm
1:00 pm
Opening
Presentation:
Pension and Other Benefits
Presentation:
Fund Investments
Coffee Break
Question and Answer Session
Presentation:
Financial & Operational Review
Question and Answer Session
Closing
2
Plan Governance
Joint Trust
Agreement
Municipal Pension Plan
Sponsors
Partners
Administrators
Trustees
Agents
Service Providers
3
Plan Partners
 Employee Partner
 Municipal Employees Pension Committee,
composed of unions representing members in
the plan
 Employer Partners
 Province of BC, funder for health, education,
post-secondary sectors
 Union of BC Municipalities, representing
municipal and regional employers
4
Appointing Authorities – Employees
 BC Federation of Police Officers & Professional
Firefighters Association
 BC Nurses Union
 Canadian Union of Public Employees
 Council of Joint Organizations & Unions
 Health Sciences Association of BC
 Hospital Employees Union
 Municipal Employees Pension Committee
 One representing active members
 One representing retired members
5
Appointing Authorities – Employers
 BC Public School Employer Associations
 Health Employers Association of BC (two members)
 Province of BC (two members)
 Union of BC Municipalities (two members), and
 Province of BC & Union of BC Municipalities
 Representing excluded members
6
Trustees
Appointing Authority
Province of BC
UBCM
HEABC
BCPSEA
Excluded Members
HEU
CUPE
HSABC
BCNU
Police/Fire
COJOU
MEPC
Retired Members
Primary
Louise Mercer
Bruce Kennedy
Frank Leonard
vacant
Lyn Vandermey
John Johnston
Joe Strain
Ken Bayne
Brendan Dick
Maria Wahl
Dennis Blatchford
Sharon Saunders
Harold Heyming
Brian Northam
Gary Johnson
Steven Polak
Alternate
John Davison
Lori Wanamaker
Malcolm Brodie
Richard Taylor
Louise Simard
Pat Doyle
Terry Killough
vacant
Kelly Knox
Barry O’Neill
vacant
Andy Wiebe
Todd Sweet
Brian McConville
Donisa Bernardo
Fran Macdonnell
7
Trustee Responsibilities
 Responsible for all aspects of plan
governance including:
 Rules for granting pensions and other benefits
 Contribution rates for employers and employees
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
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Administration of the plan rules
Investment policies for plan assets
Final level of appeal (delegated to Appeals Panel)
Report on actuarial, financial and operational
matters to partners and members
9
Actuarial Valuation
 At least every three years
 Long-term projection of plan assets & liabilities
 Latest valuation as of December 31, 2003
 Unfunded liability of $789 million
 Contribution rate increase required (1.98%)
 Member (0.99%)
 Employer (0.99%)
10
COMMUNICATIONS
11
Communications
 Employer web site enhancements (2005)
 new security
 e-remit
 user management service
12
Communications
 Member web site enhancements (2006)
 new security access (PIN)
 “My Account” services:
 personalized pension estimator
 copy of most recent member benefit
statement
 view current basic personal information
13
Communications
 More information about the Board and its
activities on the MPP web site
 Board Governance section
 Board Meeting Highlights posted after every
Board meeting
 Board policies posted
 New: “Coming Up” section to indicate issues
being considered by the Board
14
Communications
 Strategic Communications Plan
 Articles about pension topics in some union and
employer newsletters
 Board priority to continue to improve
communication & consultation with all
stakeholders
 communications individually addressed to
members
 redesign of member communication products
 use of plain language
15
Governance Initiatives
 MPBT Investment Committee
 Appeals Panel
 Review of Group Benefits
16
Today’s Meeting
9:30 am
9:45 am
10:15 am
10:45 am
11:00 am
11:45 am
12:15 pm
1:00 pm
Opening
Presentation:
Pension and Other Benefits
Presentation:
Fund Investments
Coffee Break
Question and Answer Session
Presentation:
Financial & Operational Review
Question and Answer Session
Closing
17