DC Plan Summit 2009
February 4-6, 2009
The Fairmont Tremblant, Mont Tremblant, Quebec
THEME: Plan Member Engagement
FINAL AGENDA
Dress for the conference is business casual for sessions.
Dress for the Thursday night reception is formal business.
Each session has been built to include a question and answer period.
DAY ONE
Wednesday February 4th
5:00 – 6:00 p.m. Speaker Rehearsal (Mali IV Room)
6:00 p.m. Opening Cocktails (Foyer Soutana)
7:15 – 11:00 p.m. Dinner Reception (Soutana II)
DAY TWO
Thursday February 5th
7:30 – 8:30 a.m. Registration and Breakfast (Kamichat Room)
8:30 – 8:45 a.m. Opening Remarks (Mali IV Room)
8:45 – 9:00 a.m. Session One: It’s That Popular Game Show
“Who Wants to Be a DC Plan Sponsor?”
In this special version of the popular game show, a contestant tries to win big by answering questions relating to the results of the 2008 Benefits Canada Survey of CAP Members. Just how well does our contestant—and the audience—understand the DC plan member mindset? Stay tuned to find out...
Hosted by: Regis Thomas
9:00 – 10:00 a.m. Session Two: Plan Member Engagement
2A. Engagement and Adequacy – Are They Mutually Exclusive?
The annual Best Employers in Canada study examines the drivers of high employee engagement. Is there a correlation between employee engagement and active plan member involvement in the employer’s retirement plan? Do engaged employees understand the plan, appreciate it and use it? If even this group isn’t actively participating, what course of action is available to plan sponsors? If the ultimate goal is to ensure adequate retirement income, perhaps organizations are spending too much time trying to engage members so that they enroll in the plan, continue saving and make appropriate investment choices. The solution may lie in finding the appropriate balance between engagement and adequacy, so that not all decisions regarding participation, contributions and/or investments are left to members. Using data from research in both the United States and Canada, this presentation examines whether plan member engagement and retirement income adequacy can coexist.
Presenters: Mazen Shakeel and Zaheed Jiwani, Hewitt Associates
2B. Member Engagement: It's Not Just About Making Investment Choices Anymore
With the increasing prevalence of DC plans, a continuing focus on helping members make appropriate investment choices has left other key considerations unattended. Issues such as participation rates, contribution levels and retirement income requirements are equally important, particularly when investment risk is mitigated by the availability of asset allocation portfolios, target date funds and more robust default options. There’s a limit to the attention plan members can — and will — devote to retirement planning; it’s time to bring other details into clearer view so members get a better sense of what’s on their horizons.
Presenter: Sue Reibel, Senior Vice-president, GSR Solutions (Canada), Manulife Financial
[Download the Presentation]
10:00 – 10:30 a.m. Session Three: Diversification Deceit
All too often investors fail to consider their single largest asset when constructing well-diversified portfolios. Namely, they tend to ignore the present value of their compensation. An individual’s earnings power is not only a large component of his or her overall wealth, but it is also generally correlated to one or two very specific industries. For example, an employee in the financial services sector is likely to be impacted by the performance of that industry. Therefore, building a portfolio with every sector except financials could be a great solution. Effectively, employees have a “natural long” to the sector that employs them. When selecting which plans might be a good fit for a particular retirement plan, plan sponsors should consider strategies that have either a limited exposure to the company’s industry or, ideally, a low correlation to that industry.
Presenter: Diane Garnick, Investment Manager, Investment Strategist, Invesco Trimark
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10:30 – 10:45 a.m. Networking Coffee Break (Mali IV Foyer)
10:45 – 11:45 a.m. Session Four: Investment Options
4A. Addressing Risk Tolerance: Choosing a Target Date Solution for Canadians
Target date investment solutions in Canada are growing in popularity with plan sponsors. The structure and predictability of these programs have simplified retirement planning for plan sponsors and their employees. With this growth, it is important to evaluate these options to ensure that employees in Canada have complete investment solutions that are tailored to their retirement and risk tolerance needs. In this presentation we will examine Canadian investors' risk tolerance and how target date solutions can address risk tolerance.
Presenter: Duane Green, Senior Vice-president, Institutional Investment Services, Franklin Templeton Institutional
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4B.The Five Most Common Mistakes Surrounding Target Date Funds
Plan Sponsors around Canada and all of North America are considering making Target Date Funds either the cornerstone of their DC plan design, or even the default choice for participants. And it can be intimidating looking at the vast array of choices and key issues, for such an important investment option. While the sheer list of items can be paralyzing, this presentation will lay out the five most common mistakes that plan sponsors often make in assessing their choices and key issues and questions related to Target Date integration.
Presenter: Peter Chiappinelli, Senior Vice-president, Investment Strategy and Asset Allocation, Fidelity Investments
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11:45 a.m. – 1:00 p.m. Lunch Break (Loup Garou Restaurant)
1:00 – 2:20 p.m. KEYNOTE Session Five: Managing a Changing Workforce
In this century, we will see a fundamental shift in the change in the nature of the employer-employee relationship as organizations seek to attract and retain good employees in a declining labour market. This labour force shortage will arise as the massive baby boomer generation retires and companies compete to hire the small pool of “baby – bust” employees. HR management will become a critical success factor in the new millennium, as companies have to focus on recruitment, retention of employees of all ages, succession planning, work/life balance and career development. Managers in organizations today need to understand key generational differences in order to attract, motivate and retain good employees. Dr. Duxbury will look at the formative influences shaping the different generations and look at possible sources of generational conflict within the workforce. She will also give employers information on how to adapt to meet the needs of these different groups of employees.
Presenter: Dr. Linda Duxbury, Professor, Sprott School of Business, Carleton University
2:20 – 2:45 p.m. Networking Coffee Break (Mali IV Foyer)
2:45 – 3:45 p.m. Session Six: Transitioning to Retirement
6A. A Smooth Road to Retirement
Planning for retirement is both a psychological and emotional journey, and for many a source of anxiety – especially when it comes to the adequacy of their retirement nest eggs. With greater reliance on DC pension plans and other wealth accumulation instruments, there is greater market risk for retiring individuals. Healthcare and long-term care costs continue to escalate faster than wages and inflation. Longevity has been increasing at a remarkable rate with few pre-retirees understanding the implications – that they may outlive their money. The industry is responding with new alternative investment products and services, including more robust retirement income solutions that turn retirees’ assets into guaranteed streams of income for life. And with new models of offering advice, the transition to retirement is a smooth road. Claude Accum will explore these trends in the DC industry and its implications for plan sponsors and their employees.
Presenter: Claude Accum, Senior Vice-president, Group Retirement Services Planning, Sun Life Financial
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6B. The Retirement Investment Continuum
The DC investment industry has traditionally focused on the accumulation of retirement savings, with little attention paid to the de-accumulation phase. This challenge is further complicated by the fact that plan members often have unrealistic expectations about what they will need in retirement and how they will reach their goals. To help ensure retirement income adequacy, accumulation and de-accumulation should be considered together, as parts of the same retirement investment continuum. De-accumulation options should also be customized to the plan member’s specific needs and retirement goals. This presentation looks at the current tools and options available for the de-accumulation phase, as well as the future market direction of retirement investment products including Life Cycle funds.
Presenter: Colin Ripsman, Vice-president, Phillips, Hager & North Investment Management Ltd.
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3:45 -
4:00 p.m. Closing Remarks
6:30 - 7:30 p.m. Cocktail Reception (Foyer Soutana)
7:30 - 11:00 p.m. Formal Dinner and Enterntainment (Soutana II)
DAY THREE
Friday February 6th
8:00 – 9:00 a.m. Breakfast (Kamichat Room)
9:00 – 9:15 a.m. Opening Remarks (Mali IV)
9:15 – 9:45 a.m. Session Seven: Exploring Opportunities for the New Tax-Free Savings Account
The TFSA will certainly have some members knocking at your door. Are you prepared to answer their questions? This new savings opportunity will be popular for a wide range of savings goals. Explore how the TFSA might fit into your members’ planning strategies and the implications for plan sponsors that choose to offer it to members.
Presenter: Michael Campbell, Vice-president, Marketing, Great-West Life Group Retirement Services
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9:45 – 10:15 a.m. Session Eight: Equity Insights and Market Bubbles
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What are asset bubbles, how do they form and what can be done once they burst? This presentation will focus on the anatomy of asset bubbles and discuss the importance of equity exposure to DC members.
Presenter: Alan Daxner, Executive Vice-president, McLean Budden
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10:15 – 10:45 a.m. Networking Coffee Break (Mali IV Foyer)
10:45 – 11:45 a.m. Session Nine: Managing Risk in Volatile Times
9A. Risk Management
This presentation will help sponsors mitigate risk through a robust investment platform. By offering a controlled environment from which DC sponsors choose their investment funds, governance within a DC plan can be enhanced. The trickle down of having a program focused on quality investment funds with co-related choice, provides benefits for sponsors and members alike.
Presenter: Claude Leblanc, Senior Vice-president, Group Savings and Retirement, Standard Life
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9B. Plan Governance in an Unstable Market
This presentation will talk about DC plan governance from the perspective of riding out the current environment of market volatility.
How do you ensure that you are onside with governance and best practices in these changing times? How do you guard against the possibility of future litigation from plan members?
Presenter: Hugh O’Reilly, head of the pension and benefits practice, Cavalluzzo Hayes Shilton McIntyre & Cornish
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11:45 – Noon Conference Concludes
Noon Lunch (Mali IV)
** THIS AGENDA HAS BEEN FINALIZED**
This page was last updated on January 22, 2009.
For more information contact Jennifer Hughey, Assistant Editor Conferences
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