Your pension: Friday vote and Annual Meeting

Posted on Monday, April 27, 2015
Photo: John Kelsey

Photo: John Kelsey

Annual Pension Meeting

If you are a member of the McGill University Pension Plan and want to learn more about how your pension funds are being invested, you may want to attend the Annual Meeting of Plan Members, being held at noon on Friday, May 1 in Leacock 232.

Active members also have until the beginning of the meeting to vote online regarding the rules that apply for the election of member representatives on the Pension Administration Committee, or can present their paper ballot at the meeting instead.

What you’re voting on:

Each year, members of the McGill pension plan (both current and retired) are eligible to vote on the “continuance of voting procedures,” which has two parts:

  1. Proxy votes
    The current proxy vote system allows members to have someone vote on their behalf. This is great for people who don’t plan to attend pension meetings in person, but who would still like to have a say.
  2. Proportional Voting
    This system is used in the election of representatives to the Pension Administration Committee. The number of votes each member receives is in direct proportion to their account value. The number of votes are determined as follows: :

    1. Pension plan members who haven’t yet settled are entitled to one vote for each dollar of savings in their pension fund at year-end.
    2. Retired members who receive McGill pension annuities are entitled to nine votes for each dollar of annuity payment received.

Only one nomination was received for the available Academic Staff Representative position; therefore, Professor Julia Scott will be acclaimed for a three-year term and no vote is required.

These measures will be determined in a single vote (i.e. a “FOR” vote supports both of them). The results will be announced at the Annual Meeting on Friday.

When, where and how to vote:

If you are an active member of the McGill University Pension Plan, you have until noon on Friday, May 1 to vote online. If you’ve received a paper ballot, you can submit it in person at the Friday assembly. If you vote online you’ll be voting by proxy, which involves making two decisions:

  1. Choose your proxy
    You have the option to appoint Lynne B. Gervais (Chair of the Pension Administration Committee) or John D’Agata (Secretary of the Pension Administration Committee) to vote on your behalf, or name another plan member who will attend the assembly.
  2. Vote “FOR CONTINUANCE” or “AGAINST CONTINUANCE”
    Once you’ve chosen a proxy, you’ll opt to vote either “FOR” or “AGAINST” Continuance.

What else is happening at the Annual Meeting?

In addition to tallying and announcing the results of this vote, the Pension Plan members in attendance will also:

  • Acclaim one Academic Staff representative to the Pension Administration Committee;
  • Receive the financial report of the McGill University Pension Plan for 2014 and the independent auditor’s report thereon;
  • Receive the stewardship report of the Pension Administration Committee;
  • Receive the investment performance report of the McGill University Pension Plan for 2014; and
  • Conduct any other business that is properly brought before the assembly.
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