Spring General Meeting April 29, 2009. 1. Call to Order 2. Approval of the Agenda 3. Address to the Members: Lisa Castle, AVP Human Resources 4. Approval.

Spring General Meeting

April 29, 2009

1. Call to Order 2. Approval of the Agenda 3. Address to the Members: Lisa Castle, AVP Human

Resources4.  Approval of the Minutes of the Spring GM 20085.  President’s Report: Bernice Urbaniak

a) Review of 2008/09b) Current issuesc) What’s ahead?

6. Disability Benefits Plan: Isabella Losinger & Kevin Jeffreya) Restructure of IRP (Disability Benefit Plan) governance

7. Treasurer’s Report: a) Year-to-date Financial Performance b) Budget 2009/10 Overview c) Motion to Approve 2009/10 Budget (motion attached)

8.  Question and Answer Session 9.  Motion to Adjourn

Agenda

Approval of the Agenda

Motion to approve the agenda as circulated.

Focus on People

An address to the members by Lisa Castle, AVP Human Resources

Approval of Minutes of 2008

Motion to approve the minutes of the Spring General Meeting of April 17, 2008 as posted on the AAPS website.

President’s Report …

Year in Review

PeopleBoard Staff Membership

Committees AdvocacyProfessional DevelopmentCommunicationsCompensation Committee

Year in Review, Cont’d

By-law Change: Electronic Voting Salary Survey AAPS Office Space – Lease Renewal Pension Changes DBP Governance and Plan Changes

Current Issues

DBP Governance & Plan Design Compensation – Market Survey

Adjustments On-going Advocacy Issues Executive Director Search

What’s Ahead?

Bargaining – ACTE expires June 2010 Market Salary Implementation Executive Director Hire

Disability Benefits Plan (DBP)

a.k.a. Long-Term Disability (LTD)a.k.a. Income Replacement Plan (IRP)

a.k.a Disability (on your paycheck) = this is listed as an “after-tax deduction” IOW 100% employee-paid

DBP (Cont’d)

What does DBP do for you?This is a mandatory benefit (you pay 1.4% of your

regular earnings)Provides a monthly income if you are unable to

work due to illness or injuryQualifying period is 6 monthsSee HR website for more info

DBP (cont’d)

Plan started in 1984 University is sole trustee, but there is no written formal trust

agreement Currently under “Administrative Services Only” contract

with SunLife September 2006: University informs UBC employee groups

that income earned on DBP investment is subject to tax UBC strikes a deal with CRA for back payment of taxes from

January 2000 onwards (previous years are forgiven) Ongoing, tax must be paid; all back-taxes have been covered

by the plan

DBP (Cont’d)

Current SituationUniversity wants to remove itself from ongoing

management of these fundsSince 2007, AAPS Board (in particular a sub—group

consisting of Bernice, George, & Isabella) has had extensive discussions regarding different models of an DBP plan that would provide maximum flexibility for members wishing to return to work as soon as their health allows, while keeping premiums affordable

DBP (Cont’d)

Key considerationsMembers own 100% of the funds; therefore we should

have full involvement in governanceEmployment is central to self-valueMembers’ economic positions must be protected

during times of protracted illness and/or disabilityRisk and costs must be balanced to ensure long-term

value and affordable, effective protection for our members

DBP (Cont’d)

This is an exceedingly complex area Board has engaged Pointbreak Consulting

Group to provide advice regarding the present and future DBP options = Kevin Jeffrey is our key consultant

An RFP (Request for Proposals) has been issued by the University, in consultation with AAPS

DBP (Cont’d)

Next Steps receive & review RFP responsesinterview potential plan suppliersfinalise recommendations to take to

the membership (including plan design & governance)

conduct information sessionsmembership vote

DBP (Cont’d)

Conclusions

We live in an uncertain world

Plan valuation March 2007 = $34.3 mil

Plan valuation Dec 2008 = $32.6 mil

Treasurer’s Report: Edward Hung

a. Year-to-date Financial Performance

b. Budget 2009/10 Overview

c. Motion to Approve 2009/10 Budget

Budget Overview 2009/10

Click here to open the Budget Spreadsheet.

Motion to Approve Budget

Motion to approve the 2009/10 AAPS budget:  

“Be it resolved that the 2009-2010 AAPS budget prepared by the Board be approved as presented”.   

AAPS Board:How to Get Involved …

Questions & Comments

Motion to Adjourn …