WELCOME! [www.bellpensionersgroup.ca]

Download Report

Transcript WELCOME! [www.bellpensionersgroup.ca]

WELCOME!

Ottawa Chapter Fall Meeting October 28, 2010

Meeting Agenda

9:30 a.m. Meeting call to order & review of agenda 9:35 10:00 President’s Report: Pension update Wills & Estate Planning – Eric Honey 11:30 11:50 ~

Break ~

Chapter Update & New Business 12:20 p.m. Question & answer session 12:30 Adjournment October 28, 2010 2

Bell Pensioners' Group October 2010 President's Report

Presented by Bob Farmer

Bell Pension Plan Performance

Plan Valuation (31 Dec 2009)

 2008 Plan Return: -19.5%  2009 Plan Return: +15.1%  2010 (Jan-June) Return: +1.2% October 28, 2010 4

Plan Surplus/Deficit

   Solvency: assumes plan wind-up Negative numbers (deficit) means plan under-funded Recovery from 2008 underway, but will take time

Plan Surplus

4000 3000 2000 1000 0 1998 -1000 -2000 October 28, 2010 -3000 2000 2002 2004 2006 2008 2010 Solvency Ongoing 5

Actuarial vs Market

   Actuarial (smoothed) values used for plan funding purposes Actuarial values lag actual market values Currently, solvency deficiency greater when market values considered

Solvency Deficiency

1000 500 0 -500 2003 -1000 -1500 -2000 -2500 -3000 October 28, 2010 2004 2005 2006 2007 2008 2009 2010 Actuarial Market 6

Solvency Ratio

   Tests whether plan can deliver pensions even if plan is wound-up Measures proportion of liabilities that can be covered Market value: actual value of assets used

Solvency Ratio

1.100

1.050

1.000

0.950

0.900

0.850

0.800

0.750

2003 2004 2005 2006 2007 2008 2009 2010 Actuarial Market Value October 28, 2010 7

Achieving Full Funding

 Bringing the Plan back to Health over time  Asset growth; liability decrease; funding 0 2006 -500 2008

With Minimum Funding Requirements Only

2010 2012 2014 2016 2018 2020 -1000 -1500 -2000 October 28, 2010 Solvency 8

Pension Advocacy

 BPG very active in advocating changes to pension rules  Legislative amendments passed by House in 2010  Some regulatory amendments in place, others to follow October 28, 2010 9

Pension Advocacy

Recent Improvements  No voluntary plan termination unless plan fully funded (within five years)  Contribution holiday only if 5% surplus remains  Annual plan valuations and funding reset  Smoothing over 3 years  Solvency ratio based on market value of assets  Deviations from funding rules only with consent of pensioners  Maximum surplus increased to 25% from 10% October 28, 2010 10

Pension Advocacy

A disappointing rule change  Old rules required plan deficiency to be eliminated in five years (or ten years as an exception)  New rules give sponsors more time  one-third of deficiency remains after 5 years  one-tenth of deficiency remains after 10 years  Must be experience tested October 28, 2010 11

Pension Advocacy - Current

 Federal:  Review amendments to regulations as they are announced  Enhance protection of pensioners whose plans fail  Business Insolvency Act; CCAA  Ontario:  With Canadian Federation of Pensioners  Influence Ontario pension legislation/regulation  CFP objective: protect the pension promise for members of Ontario pension plans  BPG objective: help Ontario be a positive model for Federal rules October 28, 2010 12

Andr é Bergeron Bob Bartlett Mich èle Boyer Sue Dawes Michel Doyon Bob Farmer Betty Gauthier Jean-Luc Geha Linda Gervais Robert Guay

BPG Board

Gwen Guillet Lancy Hum Ron Hunt Pam Went Frank Bible Al Bowcott Yvan Dutrisac Marlyn Easterbrook Yvan Pacaud October 28, 2010 13

Wills and Estate Planning

Eric Honey Honey MacMillan Gilhooly & Baldwin

BREAK Meeting resumes in 20 minutes

Ottawa Chapter Meeting October 28, 2010

Ottawa Chapter Update

Marlyn Easterbrook Ottawa Chapter Chair

Ottawa Chapter Update

 Membership growth  Circle of Friends results  PayPal launch  Benefits   Audit of Bell retirees Treasurer’s update  Chapter changes  Circle of Friends draw October 28, 2010 17

Our # 1 Priority: Increase Membership

 Growing our membership is critical to the success of our organization  We have implemented many initiatives  Meetings outside Ottawa: Kingston, Sudbury & Pembroke   4 newsletters per year Email “blasts”  Online payment of membership dues (PayPal)  Circle of Friends membership drive  Our strength is in our numbers & you can help!

 Check your In Touch magazine for the recent retirees and if you know any of the people listed, please contact them and encourage them to join BPG October 28, 2010 18

Circle of Friends

2010 Membership Drive results  Referrals received:  Members already  Non-Members (potential)  Of the 180 potential members:  54 said will join (30%)  13 verified joined (8%) 247 67 180 October 28, 2010 19

Our strength in numbers

 The following summarizes the BPG Membership Count: Ottawa BPG Total Dec 2008 1,206 9,944 Dec 2009 1,332 10,213

Oct 15, 2010

1,269 10,256   We are committed to a minimum of 5% yr/yr growt h We need your help to ensure that we exceed our total from last year October 28, 2010

PayPal

TM

Launch

 Our Ottawa trial was very successful  As of Sept: 91 members paid 2010 dues using PayPal, including 21 new members  A Corporate PayPal application has now been developed and it will be rolled out to all Chapters as of November 1, 2010  This could not have happened without the great work and leadership of our Ottawa webmaster, Terry Acker and our Ottawa treasurer, Don Dutton October 28, 2010 21

Benefits

Dental:   Retired prior to July 2000 : rates paid are from the 1988 Dental Schedule and are unlikely to be updated Retired after July 2000 : rates paid are at a 2-year lag in rates (i.e., rates paid in 2010 are from the 2008 schedule) Plans A & B:   Rates for the Plan B reflect only the rates charged by the insurance company These rates are not used to defray the costs for Plan A October 28, 2010 22

Audit of Bell Retirees

 A sample audit is planned for the Spring 2011  Used by Bell to verify pensioner information  The last audit was a census (audit of every retiree) but this time the plan is a sample only  If you are not part of the audit, don’t worry your pension cheque will not be affected October 28, 2010 23

Ottawa Chapter Financial Report

Note: due to the confidentiality of the financial information, these slides have been excluded from this web version.

Don Dutton Ottawa Chapter Treasurer

Ottawa Chapter New Business

Marlyn Easterbrook Ottawa Chapter Chair

Communications Director

 Our BPG Board is looking for a person to replace Andr é Bergeron as Communications Director  If you would be interested in this position or know someone who may be interested, please contact me or see me at the end of the meeting October 28, 2010 26

Ottawa Chapter Changes Secretary:

 Geraldine Foot is replacing Lancy Hum who is becoming the Corporate Secretary

Membership Coordinator:

  John Campbell has retired as our Membership Co-ordinator & we have split the job  Ed Wilton becomes our Membership Co-ordinator  Betty Gauthier is responsible for Membership Communications On behalf of our Executive Committee, I wish to thank Lancy and John for their dedication and outstanding contribution to BPG. Both have agreed to stay on and help our Ottawa executive.

 I am happy to welcome George McDougall to our Ottawa Executive October 28, 2010 27

Next Meetings

Ottawa:

Tuesday, May 24, 2011 Nepean Sportsplex

Kingston:

Wednesday, May 25, 2011 Kingston Curling Club

Pembroke:

TBA October 28, 2010 28

THANK YOU MARC DAVIDSON

Circle of Friends Draw

Prizes: three free BPG membership for 2011 Three winners from our membership campaign:    Person with the most referrals Don Wilson provided 103 referrals Draw for 2 more winners

We are all winners!

October 28, 2010 30

QUESTIONS & ANSWERS

NEXT MEETING

Tuesday, May 24, 2011 9:30 a.m. - 12:30 p.m.

Nepean Sportsplex