UNIVERSITY OF GUELPH RETIREES ASSOCIATION UGRA Winter 2014 PRESIDENT’S MESSAGE In this issue president, Alastair Summerlee. He has been invited to share some of the fun and not-so- P 2 Pension Update fun aspects of being a university president, the Conversat most significant changes at Guelph during his tenure, his hopes for the future of U of G and P 3 Falls a Major Risk for his post-presidential plans. We hope many of Older Adults you will join us to wish the president well as Passings he prepares to step down from his post. Details about the reception appear on page 4 P 4 2013 Fall Forum of the newsletter. UGRA Reception for While you’re getting your calendar out to President Alastair make note of the reception, also mark June 21 Summerlee and plan to join U of G retirees on Alumni Weekend for coffee and a tour of the Hill’s P 5 CURAC Report Pet Nutrition Primary Healthcare Centre, a Save the Date: veterinary clinic and educational facility at Farewells to Alastair OVC. P 6 Announcements As past issues of the UGRA newsletter have noted, we depend on voluntary contributions Recent Retirees The arrival of a new year is typically a time from our members to produce this P 7 Be a Contributing when we look forward, but it’s also a time to publication, to rent rooms for our events, to Member of the UGRA look back. maintain our scholarship and our website, and to send a UGRA member to the annual UGRA Contributing Looking forward, 2014 is a special year for the College and University Retiree Associations Membership and University of Guelph — its 50th anniversary of Canada conference. All retirees Scholarship as an official university — and there will be automatically become members of the Contribution Form numerous events to celebrate this milestone. UGRA, and many of you make a voluntary Looking back, the contributions of those now P 8 UGRA Needs Feedback contribution of $20 or more annually. We retired to the development and growth of the thank everyone who has made a contribution University over the past 50 years are for 2013/14, particularly those who have considerable. If you’re interested in taking a continued to contribute following the death walk down memory lane to remind yourself of a retired spouse or partner. If you have not about some of them, I recommend a visit to made a contribution yet and wish to do so, the Guelph Civic Museum to view the please send us a cheque along with the exhibit “University of Guelph: 50 Years of contributing membership form that appears Building a Better Planet.” Curated by U of G elsewhere in the newsletter. students, it highlights some of the University’s most important contributions locally and We would like to be able to send you timely beyond. reminders about our events, and to do so, we need your current email address. We will use Elsewhere in this issue of the newsletter, you it for UGRA communications only. If you’d can read about the importance of retirees to like to receive our email notifications, please the success of the 2013 United Way campaign send us your address by using the “Contact and about the UGRA Fall Forum. Instead of Us” link at www.ugra.ca/contact.shtml. our usual Spring Forum, the UGRA is hosting Editor: Susan Evers a presentation and reception to recognize the Janet Kaufman, President, UGRA UGRA University’s seventh and longest-serving www.ugra.ca Pension Update the UGRA to focus on other matters of concern to retirees. I thought it might be useful to begin this report by outlining the role the UGRA This year, the Pensions Committee is plays with respect to retirees of all three U largely focused on preparations for filing a of G pension plans — the professional valuation of the plans, which is normally plan, the retirement plan and the non- required every three years. The going- professional plan. Most current and retired concern valuation measures the financial members belong to the first two plans. The status of the plan assuming that it third plan is closed and has about 100 continues to operate over the long term members, of whom fewer than a dozen are and that any deficiency should be made up still active. over 15 years. The wind-up valuation measures the financial status if the plan The University is the administrator of the had been wound up on the valuation day. plans under the Pensions and Benefits In this round, our valuation day was Aug. Act, and the Board of Governors has seeing that our pensions are paid, it is 31, 2013, and we have 12 months to ultimate oversight over this. The Pensions obviously much better for all of us if the complete the valuation and file the report. Committee is a permanent committee of B plans are financially sound and do not There is still a lot of negotiation between of G that provides advice and need to be bailed out by the University. Guelph and the provincial government recommendations to the board on a range The UGRA has in the past lobbied with regard to wind-up solvency as part of of matters such as the governance strongly for improvements to our pensions the solvency relief for broader public- structure of the plans, the appointment of related to cost of living, either through a sector plans, so I won’t comment on that. an actuary for the plans, investment one-time ad hoc adjustment or through a It will be several months before the policies and the financial state of the permanent change to this arrangement, plans. valuation process is completed, and I will which might be made retroactive to report at that time on the results related to Funds for the three plans are pooled for include us. Because of conflict of interest, the going-concern valuation. In the last investment purposes. The broad this is not a role played by the UGRA valuation three years ago, the two plans investment strategy is determined by B of representative on the Pensions had a combined deficiency of about $45 G with advice from the Pensions Committee, although obviously I can million. Despite increases to contributions Committee. Actual management of the comment on this. As you might expect from current employees and relatively funds is carried out by a number of from the financial news on pensions strong returns on investments, it appears companies under the oversight of the generally, and specifically from the state of that the going-concern deficit will be Board of Trustees’ Investment our own pension funds reported below, I larger this time. Although the deficiency Management Committee, which acts as a think there is little likelihood that the is not yet a cause for alarm, it is something subcommittee of the Pensions Committee pension plans will be in a sufficiently the Pensions Committee will be and reports to it periodically throughout positive state in the next few years for addressing at future meetings to ensure the year. This arrangement is a bit anyone to contemplate an ad hoc cost-of- that steps are taken to address this. unusual, but it seems to work well. living adjustment. At this time, therefore, it would seem to be more important for Robin Davidson-Arnott The Pensions Committee consists of five non-plan members appointed by B of G, two members of the professional pension plan, two members of the retirement pension plan and one retiree who is a member of either the professional or the retirement pension plan and who is nominated by the UGRA. I was named the UGRA representative in September 2012, succeeding Dale Lockie. As a part of Guelph’s 50th anniversary celebrations the University will bring back the Conversat. This community-wide The role of the UGRA member of the Pensions Committee is an important one event on Saturday, June 21, 2014 will be a gala evening in terms of overall governance of the plan, featuring Guelph’s signature approach to spectacular food and having a representative on the and extraordinary entertainment. Conversat 2014 will feature committee provides us with some an elegant three-course dinner under a marquee on Johnston knowledge of the financial state of the Green, six uniquely themed party venues across campus and plans and insight into factors that may a midnight champagne buffet with fireworks. have an impact on it. Although the http://bit.ly/conversat University is ultimately responsible for Visit for more information Winter 2014 UGRA 2 Falls a Major Risk for Older Adults As a retired faculty member of As we age, we need to pay particular up too quickly from a chair or bed can attention to how we move as we go about also be an issue. If you’re taking blood You have access to volume discounted our daily lives. Seniors are at greater risk pressure medication, your blood vessels of falling because of poorer balance, won’t constrict as quickly, and you may reduced mobility, weaker bones and feel dizzy and lose your balance. Before Group Rates declines in our perception of our standing up, move both feet up and down HOME & AUTO INSURANCE surroundings. Falls are the leading cause for a few seconds to get your circulation of injury among older adults, and if a fall going. results in hospitalization, we may SAVE MONEY! 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