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Defined Contribution Plan Summit
2003
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Bear Necessities:
The new reality of DC plan management
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| Wednesday, February 5 | |
| 6 p.m. - 8 p.m. | Reception and registration |
| Meet your colleagues and register for the conference in Mali I and II. | |
| Thursday, February 6 | |
| 7:30 - 8:30 a.m. | Breakfast in the Windigo Restaurant |
| 8:30 - 8:45 a.m. | Opening remarks |
| 8:45 - 10:00 a.m. | Keynote address |
| Asset Volatility, Pension Design and Corporate Finance [Download presentation (116K)] | |
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The extraordinary rise and fall in the value equities – the
run-up to 1999 followed by the calamitous drop – has left many
pension plans in a precarious state. Professor Brean’s address
will examine the effect that recent volatility has had on plan design
and the risk corporations are shifting to plan members. |
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| 10:00 – 10:30 a.m. | Break |
| 10:30 a.m. – 12 noon | Session 1: Plan Investments |
| Plan Design and Member Action (Inaction) [Download presentation (148K)] | |
| Investment manager selection, asset
allocation, employee communication and disclosure all play an important
role in successful plan management—particularly where engaging
plan members is a challenge. What is the right number and mix of funds?
What do members want? What does their behaviour illustrate? Where
do we go from here? Michael Campbell, Great-West · London Life |
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| Managing the risk of investment selection for DC plans [Download presentation (393K)] | |
| Market turbulence, changing views
on plan governance and changing employee expectations have heightened
the need for sound risk management practices surrounding the selection
of investments. Dr. John Por, president of Cortex Applied Research
Inc. will discuss his decision-making tools and risk management framework
for DC plan investment selection. John Clarke will describe how Syncrude
applied this framework to shape their investment lineup. Kevin Dougherty, John Por and John Clarke, on behalf of Sun Life Financial |
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| Designated Respondent: | |
| Gerry Wahl, Teck Cominco Ltd. | |
| 12 noon – 1:30 p.m. | Lunch in Mali III |
| 1:30 – 3:00 p.m. | Session 2: Plan Members |
| Investor Behaviour [Download presentation (204K)] | |
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The typical plan member has between 10 and 30 investment options
to choose from. How have they reacted to the continued market volatility?
Are DC plan members reacting differently than typical mutual fund
investors? Do plan members know enough about their investments? |
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| Financial Advice as an Employee Benefit [Download presentation (220K)] | |
| If your organization sponsors a DC plan, you may
have been grappling with the issue of providing investment advice
to your employees—weighing the benefit of helping them save for
retirement with the legal risks. This presentation examines recent
regulatory developments and other considerations. Rick Headrick, Hewitt Associates |
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| Designated Respondent: | |
| Stephen Iley, McCarthy Tetrault | |
| 3:00 – 3:30 p.m. | Break |
| 3:30 – 5:00 p.m. | Session 3: Plan Regulation |
| An Update from the Regulators [Download presentation (144K)] | |
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Why did regulators embark on the capital accumulation plan project?
In part, there was concern about actual or potential market volatility
and whether members were aware of the risk they assume in a CAP.
This update will explain the approach taken by the Joint Forum and
share the new draft guidelines. |
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| Where Do Members Fit? [Download presentation (68K)] | |
| A critical evaluation of the regulatory proposals
from a DC plan member’s perspective. There is a gap between member
expectations, the regulatory environment and the day-to-day realities
of DC plan management that could lead to legal liabilities for plan
sponsors. This presentation will offer practical ideas for avoiding
liability, and suggestions for regulatory reform. Hugh O’Reilly, Cavaluzzo, Hayes, Shilton, McIntyre and Cornish |
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| Designated Respondent: | |
| Janice Telfer, Ingersoll-Rand Canada Inc. | |
| 5:00 – 5:15 p.m. | The day reviewed |
| 6:30 p.m. | Cocktail reception |
| 7:15 p.m. | Dinner in Mali III (business attire) |
| Friday, February 7 | |
| 7:30 - 8:30 a.m. | Breakfast |
| 8:30 - 10:00 a.m. | Session 4: Plan Management |
| Around the World in 25 Minutes: International Governance Trends [Download presentation (244K)] | |
| Market regulators have begun to fine
tune DC governance practices in Canada. During that process, our attention
has been divided between what has been and what will be. It is worth
observing international trends in the governance area—what successful
alternatives might we consider here in this country? Dave McLellan, Canada Life |
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| Retirement Reinvented [Download presentation (376K)] | |
| Addressing the shift from accumulation to payout
and the role that DC plan sponsors play in assisting their employees
through a smooth and successful transition. This presentation will
cover various issues – the baby boom, outliving retirement income,
low interest rates, bear markets, short- versus long-term thinking
and locking in versus flexibility. Louise Pellerin-Lacasse, Standard Life |
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| Designated Respondent: | |
| Chris Ferrill, Shell Canada Limited | |
| 10:00 - 10:30 a.m. | Break |
| 10:30 – 12 noon | Session 5: Capital Markets Outlook |
| Can We Bear it Any Longer? [Download presentation (1.1MB)] | |
| We’ve all lived through bear markets. This
one is no different and will (eventually) come to an end. We’ll
examine forces that give us cause for optimism, and we’ll explore
the storm clouds that remain on the horizon. The presentation will
also look at key variables affecting capital markets and DC plan participants. Jeff Horbal, Fidelity Investments Canada |
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| Establishing Best Practices [Download presentation (364K)] | |
| Understanding the downturn on capital
markets and its impact on DC plans via an examination of one’s
perception of risk. The presentation will define risk and review current
misconceptions. It will also offer other ways to look at risk and
explain specific risk control mechanisms. Ken McCord, AIM Funds Management |
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| Designated Respondent: | |
| Jan Neiman, Rothmans Benson & Hedges | |
| 12 noon - 12:15 p.m. | Group photo |
| 12:15 - 1:30 p.m. | Lunch in Mali III |
| 1:30 – 2:30 p.m. | Session 6: Plan Sponsor Panel Discussion |
| Our panel of DC plan sponsors from across
Canada discusses capital market volatility between 1997 and 2002.
What lessons did they learn about DC plan management? How have their
plans benefited as a result? How has the governance of their plans
evolved in response to the market upturn, and subsequent downturn? Andrew Steeves, ADI Group Inc. Becky West, Telus Robert Ziegler, UFCW Local 832 |
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| 2:30 – 2:45 p.m. | The day reviewed |
| 2:45 - 3:00 p.m. | Closing remarks |
| 3:00 - 4:00 p.m. | Closing reception in Mali III |
| Saturday, February 8 | |
| All day | Skiing and boarding |