Defined contribution (DC) plans, like their defined benefit (DB) counterparts, help to ensure an adequate income in retirement for millions of Canadians. However, while their objective is the same, these two plan types operate quite differently from each other in practice. For trustees, this means that the specific responsibilities they have with respect to DC plans are different from those required for DB plans, as are the most appropriate oversight structures and governance practices. These specific responsibilities were spelled out clearly in 2004 when the Canadian Association of Pension Supervisory Authorities (CAPSA) released its Guidelines for Capital Accumulation Plans. Taking its cue from these guidelines, this course will provide ATMS graduates with the tools for applying what they have learned in previous sessions to the effective oversight of DC plans.
Topics to be covered will include:
Characteristics of DC Plans
- Differences from DB plans
- Industry trends
- Plan design
- Investment structures
Governance and regulation
- Fiduciary responsibilities
- Legal/regulatory requirements
- Recordkeeping
- Selection and monitoring of service providers
Communication with participants
- Enrollment
- Investment options
Other topics could include the impact of a potential government-sponsored supplementary defined contribution plan, the use of target-date funds, and issues related to converting from a DB plan to a DC plan.
Requirements
- Serve three or more years as a trustee or three or more years in a senior-level policy-setting role for a pension fund (prerequisite waived for public sector trustees).
- Previously earned an ATMS certificate.
- Attendence requirement: you must be present for the entire course (8:00 am - 3:30 pm) to earn a Seal of Quality to add to your original ATMS certificate.
2010 Instructor
Janice Holman
Principal
Eckler Ltd.
If you’ve previously earned an ATMS certificate, the ATMS Quality Series provides you with an additional source of education so you can increase your expertise. The Quality Series features rotating (annually) topics to meet the current needs of advanced-level trustees who have earned an ATMS certificate. These “drill-down” programs provide a day of intensive, focused instruction and discussion.