Research Pension Plan
Annual Report to Membership
June, 2014
The primary purpose of this report is:
∗ to review investments and investment performance of the Plan in 2013
∗ to provide membership data information
∗ to report on the activities of the Research Pension Plan Committee
INVESTMENTS of the PENSION PLAN at December 31, 2013
Market Value of Pension Plan Assets
By Investment Fund
Money Market Fund
Universe Bond Index Fund
Conservative Life Cycle Fund
Balanced Life Cycle Fund
Aggressive Life Cycle Fund
Canadian Equity Fund
U.S. Equity Index Fund
International Equity Fund
Total Market Value
2013
($000)
$
765
1,845
1,737
54,976
3,006
3,017
1,323
1,181
$ 67,850
% of Market
Value
1.1
2.7
2.6
81.0
4.4
4.5
2.0
1.7
100.0
By Investment Manager
Sun Life – Money Market
BlackRock Asset Management
Sky Investment Counsel
Triasima
2013
($000)
$
765
46,373
13,280
7,432
% of Market
Value
1.1
68.3
19.6
11.0
Canadian Equity Fund – Investment Manager Changes
The Canadian Equity Fund of the Research Pension Plan was managed by Jarislowsky
Fraser (JF) and Sheer Rowlett and Associates (SRA) on a two thirds-one third basis,
respectively. Effective December 13, 2013, the funds were managed by BlackRock Asset
Management Canada (BRC) and Triasima Portfolio Management (TPM) on an equal
basis. An update to plan members was sent on December 9, 2013 regarding this change by
email.
This communication, future communications and other pension plan information are available online at:
www.usask.ca/fsd/faculty_staff/pension_plans
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Investment Performance
As Plan members have differing risk preferences, the Plan makes several investment
options available to members. These options allow members to select segregated funds
with a mix of underlying assets that meets their investment needs.
Members are reminded of their responsibility to review periodically the portfolio
structure of their participation in the Plan and to revise it as appropriate given their
needs.
The investment risk profile, provided on the Sun Life member website, helps to determine
the type of investor you are, and provides information to help you understand risk, the
benefits of diversification and develop an investment mix to match your goals.
The benchmark portfolios for each of the funds have been determined using the actual
returns of the market indexes such as the DEX 91-Day Treasury Bills, the DEX Universe
Bond Index, the S&P/TSX Capped Composite Index, Standard and Poor’s 500 U. S. Stock
Index and Morgan Stanley’s Europe, Australia and Far East Index. The following is a
summary of the Plan’s annual investment performance as at December 31, 2013 exclusive
of Plan expenses:
Investment Performance by Fund
Money Market
Return
Benchmark
Bond Fund
Return
Benchmark
Conservative Life Cycle Fund
Return
Benchmark
Balanced Life Cycle Fund
Return
Benchmark
Aggressive Life Cycle Fund
Return
Benchmark
Canadian Equity
Return
Benchmark
U.S. Equity
Return
Benchmark
2013
Last 4 years
1.1%
1.0%
1.0%
0.9%
-1.2%
-1.2%
4.6%
4.6%
4.2%
4.1%
5.9%
5.9%
15.7%
15.6%
8.2%
8.3%
21.8%
21.7%
9.2%
9.5%
18.2%
13.0%
8.0%
6.8%
41.2%
41.3%
16.2%
16.3%
This communication, future communications and other pension plan information are available online at:
www.usask.ca/fsd/faculty_staff/pension_plans
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International Equity
Return
Benchmark
26.1%
31.0%
6.1%
8.4%
MEMBERSHIP DATA at December 31, 2013
Plan Member distribution:
Active members
Other members (inactive, deferred, pending transfers)
Total Plan Membership
668
346
1,014
Plan Member distribution by Fund:
Money Market Fund
Universe Bond Index Fund
Conservative Life Cycle Fund
Balanced Life Cycle Fund
Aggressive Life Cycle Fund
Canadian Equity Fund
U.S. Equity Index Fund
International Equity Fund
43
88
78
918
157
159
84
97
RESEARCH PENSION COMMITTEE
Committee Members
Plan Member Representatives:
Giselle Camm, Plant Sciences
Keith DeMong, CLS
Lorne Vanin, VIDO
Meetings of the Committee
Board of Governor Representatives:
Steve Laycock, Human Resources
Olena Schemenauer, Financial Services
Heather Fortosky, Financial Services
The Research Pension Plan Committee met 5 times during the year. Acting in its capacity
as managing fiduciary; the Committee is responsible for the oversight of the Research
Pension Plan operations, including investments, administration, and overall governance of
the Plan. The Committee activities over the past year in fulfilling these responsibilities are
outlined in the following table.
Meeting Date
September 24, 2013
Time
allocated
1.0 hour
Purpose
*Quarterly Investment Performance Review to Jun 30th
November 28 , 2013
2.0 hours
*Quarterly Investment Performance Review to Sept 30th
*2013 Investment Policy Review
This communication, future communications and other pension plan information are available online at:
www.usask.ca/fsd/faculty_staff/pension_plans
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March 27, 2014
1.5 hours
May 26, 2014
1.0 hour
*Quarterly Investment Performance Review to Dec 31st
* Review of Sun Life Financial
*Investment Manager Presentation: Sky Investment Counsel
*Quarterly Investment Performance Review to Mar 31st
June 11, 2014
1.5 hours
*Financial Statements at December 31, 2013 Review
RESEARCH PENSION PLAN INFORMATION
Plan Documents
Copies of the following documents are on file in the office of the Director of Pensions
(Financial Services). They are available for inspection by any member of the Plan during
regular working hours by prior arrangements.
∗ Plan Text
∗ Financial Statements
∗ Auditor’s Report
∗ Committee meeting agendas and minutes
Sun Life Financial Member web site:
www.mysunlife.com
∗ Investment risk profile
∗ Detailed investment performance information
∗ Account balance
∗ Asset allocation and transaction decisions
∗ Quarterly statements
Other Agents of the Plan
Investment Consultant:
Record Keeper:
Aon Hewitt
Sun Life Financial
Pension Administration & Support
Pensions Office, Financial Services
Room 220, Research Annex, 105 Maintenance Road
306-966-6633
pensions.inquiries@usask.ca
www.usask.ca/fsd/faculty_staff/pension_plans
Please contact the Pensions Office at 306-966-6633 or any member of the Research
Pension Plan Committee if you have any questions about the items covered in this
newsletter.
This communication, future communications and other pension plan information are available online at:
www.usask.ca/fsd/faculty_staff/pension_plans
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