DC Plan Summit 2008
February 27 – 29th
The Fairmont Queen Elizabeth Hotel, Montreal
THEME: The DC Plan of the Future
Thursday, February 28th, 2008
7:30 a.m. – 8:30 a.m. Breakfast (Salon Montrealais)
8:30 a.m. – 8:45 a.m. Opening Remarks (Duluth Conference Room)
8:45 a.m. – 9:30 a.m. Session 1: DC 2018 Panel (TBA)
Participants:
Nurez H. Jiwani, Director, Regulatory Coordination, Financial Services Commission of Ontario
Paul Litner, Partner, Osler, Hoskin & Harcourt LLP
John Poos, Director, Global Pensions, Nortel
Designated Responders:
Ann Anderson, Manager, Pensions and Benefits, Payroll, Sony Canada
Kelly Cardwell, Director, Rewards and HRIS, Best Buy Canada
9:30 a.m. – 10:30 a.m. Session 2: Retirement Income Strategies and Options
2A: Bridging the Great Divide – Helping Canadians See and Shape Their Retirement Reality
Golf, travel and sunshine: a rosy retirement view many Canadians see as their future when a trailer park may be more likely in the budget. Left unaided to face that reality, plan members may be surprised by their results. Research suggests the gap between expectation and reality results from naïve optimism – a belief that simple participation in a plan and aggressive growth will result in ample income. Giving plan members a realistic view of where they’re heading – along with strategies for improving the reality they’ll arrive at – is key for the industry.
Presenter:
Barry Noble, Vice-President, Distribution, Group Savings and Retirement Solutions, Manulife Financial
(Canada)
[Download the Presentation]
2B: Putting the Member First – Good Governance and Transitioning to Retirement
Plan sponsors have long attempted to engage their plan members in retirement planning and transitioning. With changes to demographics and the law, this has become a more pressing and complicated issue. There is little guidance in the CAP Guidelines and yet there are potential fiduciary obligations and financial implications for plan sponsors. We will review an array of emerging governance friendly options that look after the plan sponsor while putting the member first.
Presenter:
Joan Johannson, President and Managing Director, Integra Group Retirement Services
[Download the Presentation]
Designated Responders:
Heather
Briant, Senior Vice-President, Human Resources, Cineplex Entertainment LLP
Caroline Blouin, Head of Human Resources M&A, Global Pensions & Benefits, Royal Bank of Canada
10:30 a.m. – 11:00 a.m. Networking Coffee Break (Foyer)
11:00 a.m. – 12:00 p.m. Session 3: Managing Longevity Risk
3A: Addressing Longevity Risk: The Retirement Spending Challenge
Retirement savings strategies are often focused on asset accumulation with less attention placed on spending retirement nest-eggs. As North Americans live longer and are more active in retirement, the lack of an effective “disaccumulation” strategy can increase longevity risk. This poses a need for DC plan sponsors to help plan members understand and prepare for longevity risk. Don Stewart, CEO of Sun Life Financial, examines this looming socioeconomic challenge, and some of the policy alternatives and financial innovations to address it.
Presenter:
Don Stewart, Chief Executive Officer, Sun Life Financial
[Download the Presentation]
3B: Managing Longevity Risk: The Case for Lifecycle Investing
We all know that Canadians are living longer and are challenged with not saving enough to support them through their retirement years. As an industry, we need to work together to help mitigate this risk. We need to provide plan sponsors with specific solutions, education and communications that target the need to save more. As an investment manager, it is our responsibility to develop solid investment solutions that will help carry people through retirement. This presentation will provide a closer look at the growth and future of lifecycle investing and how this strategy can help better prepare employees for retirement.
Presenter:
Stephen Lingard, Vice-President/Portfolio Manager, Franklin Templeton Investments
[Download the Presentation]
Designated Responders:
Louise Koza, Director, Total Compensation, the University of Western Ontario
Paul Litner, Partner, Osler, Hoskin & Harcourt LLP
12:00 p.m. – 1:00 p.m. Lunch (Salon Montrealais)
1:00 p.m. – 2:00 p.m. Session 4: Advice
4A: Advice - It's Not An Option
Plan members need and must have financial advice - whether or not plan sponsors are prepared to offer it. The advantages outweigh the risks. Members can’t make appropriate investment decisions because they don’t have the requisite expertise. Sponsors can help by integrating advice into their plan offerings.
Presenter:
William E. (Bill) Kyle, Senior Vice-President, Great-West Life Group Retirement Services
[Download the Presentation]
4B: Australian Case Study
Sunsuper developed a capability in their fund that was an innovation in Australia. Using their own staff, they provide advice face to face (which is on a fee-for-service basis) as well as having a Member Advice Centre which provides advice over the phone for free. This is complete advice which is confirmed in a Statement of Advice, a regulated format for formal advice. In his presentation, Tony will elaborate on the status of their service and their plans for growth, particularly in providing advice to members approaching retirement and at retirement.
Presenter:
Tony Lally, Chief Executive Officer, Sunsuper Australia
[Download the Presentation]
Designated Responders:
Marc Poupart, Director, Pension & Retirement Programs, Hudson's Bay Company
Pat Suzuki, Director, Pensions, Benefits and Investments, Suncor Energy Inc.
2:00 p.m. – 2:30 p.m. Session 5: Overcoming Member Inertia
Member inertia or lack thereof has become a popular discussion topic recently as plan sponsors grapple with getting members enrolled, engaged and on track to retirement. Is the auto-enrolment approach the best route? You can bring them to the plan, but can you get them to save enough? How about using tools such as annual checkups to track progress? Do these help overcome inertia and help members change their current savings rates or investment mix? And what about new media and emerging technologies? How can we leverage these to support the member decision making process and get them on the right track to retirement. This presentation will look at how we can design and deliver communication to members in such a way as to erode their resistance to change.
Presenter:
Teresa Morgan, Director, Member Services, Marketing Communications, GR&S, Standard Life Assurance Company of Canada
[Download the Presentation]
Designated Responders:
Joan Wright, Manager, Pensions and Insurance, 3M Canada Company
Linda Ydreos, Senior Director, Benefits, Spectra Energy
2:30 p.m. – 3:00 p.m. Networking Coffee Break (Foyer)
3:00 p.m. – 3:30 p.m. Session 6: Dynamic DC Plan Design to Re-Engage Employees
The issue of benefit adequacy is emerging as key issue for pension plan sponsors; even more so for their employees. Do employees understand how much they'll need to retire comfortably? Are they saving enough? Do they understand the link between saving and investing? How can DC plan design adapt to incent the right behaviours? Will auto-pilot take them to the wrong destination...or make the flight much longer?
Presenters:
Shawn Cohen, Senior Investment Consultant, Hewitt Associates
Mazen Shakeel, Director, Retirement Consulting Practice, Hewitt Associates
[Download the Presentation]
Designated Responders:
Liz Black, Senior Director, Total Rewards, Direct Energy Marketing Ltd.
3:30 p.m. – 4:00 p.m. Working Session (Duluth Room)
4:00 p.m. – 4:15 p.m. Closing Remarks
Friday, February 29th, 2008
7:30 a.m. – 8:30 a.m. Optional Working Breakfast (Salon Montrealais)
8:30 a.m. – 8:45 a.m. Opening Remarks (Duluth Room)
8:45 a.m. – 9:45 a.m. Session 7: Innovative DC Investing
7A: Investment Manager's Perspective: Opportunities & Pitfalls
DC pension plans continue to grow in size and complexity. We certainly envision a point in the near future where this market will outweigh its DB counterpart. In this presentation, we would like to comment on some DB trends, both observed and expected, being replicated in DC markets. Specifically we will comment on three broad topics. Firstly a review of investment time horizons versus business cycles and the implications for making investment decisions on short term performance. Secondly we will provide opinion on new products and their future in DC markets. Lastly we will comment on DC plan sponsor’s interaction with investment managers.
Presenter:
Alan Daxner, Executive Vice-President, McLean Budden
[Download the Presentation]
7B: Lifecycle Investing in the DC Plan: The Active vs. Passive Debate
Lifecycle, or target-date funds are dramatically re-shaping the defined contribution pension landscape. They are also triggering a host of issues as employers consider adopting these funds as “default” options. This presentation will explore the active vs. passive debate by delving into empirical evidence, participant behaviour, and the economic realities of retirement planning.
Presenter:
Peter Chiappinelli, Senior Vice-President, Investment Strategy and Asset Allocation, Fidelity Investments
[Download the Presentation]
Designated Responders:
Laura Donohue, Director, Compliance and Health Services, Casino Rama
Robert LeBlanc, Director, Benefits Program, Costco Wholesale Canada Ltd.
9:45 a.m. – 10:15 a.m. Networking Coffee Break (Foyer )
10:15 a.m. – 11:15 a.m. Session 8: The Changing DC Landscape
8A: The Changing DC Landscape: Lessons from the U.S.
DC plans in the U.S. are transitioning from supplemental savings plans to the primary source of retirement income for many employees. The Pension Protection Act (PPA) was enacted to encourage plan sponsors to focus on generating improved outcomes for defined contribution participants. This session will examine the history of U.S. defined contribution plans and the anticipated impact of the PPA on U.S. DC plan sponsors and their participants.
Presenter:
Heather Dawson, Director, DC Strategy and Services, Russell Investments (Tacoma)
[Download the Presentation]
8B: Safe Harbours: Providing Protection for Canada’s Money-Purchase Plan Sponsors
Fear of lawsuits may inhibit employers from steering employees into defined-contribution pension plans and RRSPs, and from guiding them into sensible choices for investing and withdrawing their money. Safe-harbour provisions that reduced this threat would help employers act in good faith to enhance the retirement incomes of Canadians.
Presenter:
William B.P. Robson, President and CEO, C.D. Howe Institute
[Download the White Paper]
Designated Responders:
Shirley Powell, Manager, Total Rewards and Information Systems, FedEx Canada
Ronald Ruckaber, Pension Manager, Halliburton Energy Services
11:15 a.m. – 11:45 a.m. Session 9: Plan Sponsor Panel
Participants:
Heather Briant, Senior Vice-President, Human Resources, Cineplex Entertainment LLP
Louise Koza, Director, Human Resources (Total Compensation), the University of Western Ontario
Marc Poupart, Director, Pension and Retirement Programs, Hudson's Bay Company
Designated Responders:
Sabrina Sills, Manager, Human Resources, Purolator Canada
Pauline Simard, Corporate Manager, Compensation and Benefits, Tembec Industries Inc.
11:45 a.m. – 1:00 p.m. Working Lunch and Conference Concludes (Mackenzie Room)
** This Agenda is FINAL. **
This page was last updated on February 25, 2008.
For more information contact Jennifer Hughey, Assistant Editor Conferences
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