Essential Skills For Pension Committee Members November 12, 13 & 14, 2008 Toronto

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Conference Agenda

Session 1:

9:00-9:45 - What Does It Take To Establish A Successful Pension Committee?
Lynne Godbout, Director, Pension Governance, HUB International Ontario Limited

Today, boards of directors and regulators are increasingly putting pressure on pension committee members to be diligent in their monitoring of pension plans. In reality, however, very few committees are effective in fulfilling these expectations. This discussion will draw from the practical experience of HUB International Ontario Limited's pension committee activities and examine how to address evolving expectations of pension committee members and how to overcome the challenges to be an effective trustee.

-What does it take to establish a successful pension committee?
-How should it be structured?
-What is the committee's scope of responsibility?
-Where do you find great committee members and how can they acquire the knowledge to fulfill their obligation?
-What is the committee's role in educating plan members?
-How do you keep the board properly informed on key pension issues?


9:45-10:30 - Effective Accountability For Pension Management
Brian Leck, General Counsel, Toronto Transit Commission

Establishing and implementing a reasonable pension plan governance policy will not completely insulate a sponsor from liability, but the absence of a policy or failure to implement it is likely to be a factor that encourages a court to find against a plan sponsor. A properly constructed governance process coupled with periodic governance audits should allow plan sponsors to identify potential sources of obligation and deal with them before they result in liability. This discussion details how the Toronto Transit Commission's pension plan fosters effective accountability and governance practices.

-Implications of the recent draft of CAPSA pension plan governance principles, guidelines and self assessment questionnaire
-Integrating pension governance into corporate governance
-Fiduciary duties and responsibilities
-Establishing internal procedures for managing pensions
-Monitoring the fund on an ongoing basis


10:30-11:00 NETWORKING BREAK

11:00-11:45 - Who Does What?
Bo Pawlik, Senior Consultant, Eckler Ltd.

The plan's board of trustees or the corporate board of directors has ultimate responsibility for all aspects of the pension plan. However, as a pension trustee or committee member, how involved do you have to be in maintaining the proper and efficient operation of the plan? Where and when should members delegate responsibility and, as a consequence, how do you make the most efficient use of the board's time? This discussion details how to effectively manage the pension committee member's time.

-Identifying the common pension plan tasks that need to be considered
-Delegation issues
-Policy setting vs. implementation vs. assessments of results
-Appointing and removing advisors
-Questions new trustees should ask advisors


11:45-12:30 - Better Fund Governance: The Development of an Effective Pension Committee & Process
Bruce Curwood, Director, Institutional Solutions, Russell Investment Group

Underperformance is often a symptom of ineffective decision-making. In view of the size of the assets involved and the difficult judgments to be made, it is vital that trustees develop the highest standards and adhere to strict governance processes. Designing and implementing an effective pension governance system involves careful planning, a support structure and the necessary processes and procedures of a policy-based framework. This session will discuss recent governance research, the major barriers to investment excellence and ways to narrow the knowing-doing gap in investments.

- Governance structure and linkage with funding policy and investment strategy
- The key participants in plan governance: who should be involved
- Identifying the corporate style and structure of the organization, the needs of pension members, economic constraints and the different attributes of various types and sizes of retirement plans
- Determining if an investment strategy is right for your specific plan
- Barriers to action in investments
- The vital role of the Chair and CIO



12:30-1:30 Lunch