DC Plan Summit
February 7-9, 2007
Banff Springs Hotel
Banff, Alberta
Dress for the conference is business casual.
All conference sessions are in the in the Sir Edward Beatty Room
Theme: “Out with the Old, In with the New: Guiding older employees
into retirement and engaging a new generation of plan members”
As the workforce continues to change, the demographic characteristics of plan members play an increasing role in the development, communication and management of a defined contribution plan. Using instructional presentations, case studies and interactive sessions, this year's conference will focus on addressing education and communication challenges, governance issues, plan design options, and investment choices.
Wednesday, February 7
6 p.m. to 9 p.m. - DC Plan “Winter Fest” at Waldhaus Restaurant and Pub
Cocktails and dinner will be served and teams will compete in winter activities such as broom ball, skating, and curling, while casually dining on German inspired cuisine. Dress for this event is for winter in Banff, warm clothes will be needed to participate in the games.
Thursday, February 8th
7:00 a.m. – 8:00 a.m. Breakfast in the Bow Valley Grill
8:00 a.m. – 8:15 a.m. Opening remarks
8:15 a.m. – 9:00 a.m. Session one: DC Apprentice introduction
Presenters: Benefits Canada staff
9:00 a.m. – 10:00 a.m. Session two: The message and the methods
The power of targeted communication in a DC world
Consumer marketing experts have long used segmentation and targeted communication to create effective message to reach their intended audience. Why then has DC plan communication largely taken a "one size fits all" approach and we have been surprised at lack-luster results? Understand how applying direct marketing techniques can lead to a better return on investment in plan member communication. Plan sponsor case studies will be discussed.
Lori Bak, vice-president, client relationships and marketing, Sun Life Financial
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Effective education of plan members
Once a strategy of how to communicate is decided, sponsors need to establish what their membership needs to know and create a system to deliver that information. Agricore United developed a unique education program targeted at specific employee groups in their organization. This case study will explore what Agricore did to reduce employee ignorance and increase engagement.
Richard Whitbread, pension and benefits manager, Agricore United
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Designated respondents: Joanne Wilson and Marc Poupart
10:00 a.m. – 10:30 a.m. Break
10:30 a.m. – 11:30 a.m. Session three: Advice and your plan members
Advice you can use—Automated advice in a DC plan
With its large population of truck drivers, and facing turnover and communication challenges, U.S. plan sponsor J.B. Hunt Transport, Inc. has struggled to increase enrollment numbers in its 401(k) plan. For members who did enroll, diversifying and managing their accounts has been an issue. Learn how J.B. Hunt made use of an online advice tool within its plan to help employees make good investment decisions.
Eric Airola, director of benefits, J.B. Hunt Transport Inc.
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Embedded guidance - The next generation
Members of CAP plans are faced with incredible amounts of responsibility in saving and investing for retirement. However, the vast majority of them do not have the investment aptitude to make the right decisions but are interested in taking control of their future. This presentation will look at the variety of investment solutions offered to satisfy these investors and how unique plan design features can add value and simplicity.
Brian Cyr, senior consultant, Quality and Choice Investment Program, Standard Life
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Designated respondents: Alain Malaket and Shirley McIntyre
11:30 a.m. – 12:45 p.m. Speaker photos and lunch
12:45 p.m. – 1:15 p.m. Session four: Preparing for a future that’s already here Supporting members into retirement
Plan members are nearing retirement. Are plan sponsors getting ready to help them? Studies show that baby boomers may spend up to a third of their lives in retirement—and their anxiety is mounting. New approaches to education, plan design and payout products are preparing for the next big wave of retirees.
Jeff Aarssen, vice-president, distribution, Group Retirement Services
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Designated respondents: Vivek Sood
1:15 p.m. – 1:45 p.m. Break
1:45 p.m. – 2:45 p.m. Session five: Plan design and innovation
Putting your DC plan on auto-pilot
Recent U.S. trends show an increasingly aggressive shift toward strategies that put plan member savings on a stronger footing. Plan design features such as automatic enrollment and automatic contribution increases—combined with default investments that reflect member demographics—put members in a better starting place. This presentation will explore opportunities and obstacles for Canadian plan sponsors seeking new ways to support disengaged plan members.
Sharon Seifried, assistant vice-president, plan design and implementation, Manulife Financial
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The future of savings plan
Plan members continue to exhibit disengagement, low participation and investing behaviour based more on emotion than investment rationale. So plan sponsors need to consider how to design plans with simple and effective investment options that address both the accumulation and distribution phases of retirement. The lifecycle fund is an excellent retirement solution for the accumulation phase, but what about distribution solutions? This presentation will look at the next generation savings plan, which offers innovative investment solutions for both younger and older employees.
Andrew Dierdorf, portfolio manager, Fidelity
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Designated respondents: Holly Scanlon and Gerry Wahl
2:45 p.m. – 3:45 p.m. DC Apprentice dedicated brainstorming session
6:00 p.m. - 9:00 p.m. Cocktail reception and formal dinner
Cocktails are in the Oak Room
Dinner is in Mt. Stephen Hall
Dress is business attire
Friday, February 9
7:00 a.m. – 8:00 a.m. DC Apprentice working breakfast in Mt. Stephen Hall
8:00 a.m. – 8:15 a.m. Opening remarks
8:15 a.m. – 9:45 a.m. Session six: Investment session
Retirement is so old
As retirement needs evolve, so should your investments in order to meet these needs. This discussion will focus on different retirement perspectives, how well some of today’s popular investment products address these changing needs and why active management is more important than ever.
Bruce Winch, vice-president, institutional investments, AIM Trimark
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Investing for a lifetime
According to Benefits Canada 40% of Canadians won’t be able to retire at 60 as they had hoped because of lack of planning. This session will address the importance of creating an investment plan for both the accumulation and distribution phase and the role plan sponsors can play, not only in the investment selection process but also in helping employees create an investment plan. It will also address the psychological barriers to saving that often work against plan participants.
J.C. Massar, chairman, Capital Guardian
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Benefits and risks of global allocations to DC plan members
Recent strong performance from the Canadian fixed income and equity markets has made the traditional default asset allocation with a high concentration of Canadian assets a winning strategy. The elimination of the foreign property restrictions provides an opportunity for members to diversify globally from a position of relative strength. This session will discuss implications of these risks along with ways of addressing them for those approaching retirement versus those who are much earlier in the asset accumulation phase.
Adam Petryk, deputy chief investment officer, Legg Mason
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Designated respondents: Cheryl Neighbour, Chris Ferrill and Michael Scarpa
9:45 a.m. – 10:15 a.m. Session seven: Building a better default fund solution
The ideal default fund is one that (a) best meets the needs of a wide range of plan members and (b) is seldom used. This presentation examines best practices for selecting a default fund, as well as how to engage plan members in retirement planning, with practical solutions from a successful plan sponsor.
Zaheed Jiwani, senior investment consultant, Hewitt Associates
Karen Welch, director of compensation and benefits, Four Seasons
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Designated respondent: Michael Annable
10:15 a.m. – 10:30 a.m. Break
10:30 a.m. – 11:30 a.m. Session eight: DC Governance -
Risk management framework for DC plans
With the proliferation of Defined Contribution Plans and the challenges faced by plan sponsors, there is a lot to be learned from the decision-making process employed by Defined Benefit Plans. By considering multiple dimensions (for example, investment, legal, regulatory and environmental), the sponsor of a DC Plan can design a risk management process that is flexible and effective.
Becky West, director, retirement services, Russell Investment Canada Ltd.
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Liability in the administration of pension plans
This session will explain both the statutory and common-law liability of pension plan sponsors and will also highlight recent case law involving the liability of pension plan administrators. Suggestions for how administrators can minimize their exposure to liability will be discussed.
Elizabeth J. Forster, Blaney McMurtry LLP
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Designated respondents: Judy Merrison and Giustina Teolis
11:30 a.m. – 12:15 p.m. DC Apprentice working lunch
12:15 p.m. – 1:30 p.m. DC Apprentice conclusion
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