working together to protect your benefits over...
TRANSCRIPT
Keeping your trust
Working together to protect your benefits over time
OCTOBER 5, 2017
Today
▪ Trustee update
▪ Year in review
▪ Investment update and financial report
▪ Ongoing communication with you
▪ How and where to file claims
▪ Q&A – what questions do you have?
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Trustee update
Your trustees
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Responsible for the overall operation of the Trust and
administration of the benefits, in the best interest of members.
Bob Romphf David Pennycook Sym Gill Larry Nentwig
All four trustees have agreed to continue to serve the Trust.
A reminder: what the trustees do
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▪ Fiduciary obligation to perform their duties in the interest of all plan
members
▪ Enter into contracts with insurers (licensed in Canada)
▪ Invest funds appropriately
▪ Manage plan expenses
▪ Employ, retain or appoint/delegate advisors
▪ Revise benefits as required
Advisors and administration
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Year in review
Governance
Your trustees:
▪ Met quarterly
▪ Received regular reports from investment managers
▪ Regularly reviewed benefit plan premiums and expenses
▪ Committed to an ongoing education plan to stay up-to-date on legislative and industry trends
▪ Renewed contracts for all advisors and administration
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Strong and knowledgeable trustees – looking out
for the best interests of members and the Trust.
A smooth second year
Member services/changes
▪ Introduced Blue Cross drug card to make getting
prescriptions easier
▪ Plan covers Manitoba Pharmacare deductibles
▪ No increase to group 7168 premiums in 2017
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A smooth second year
Administration and support
▪ Good administration and support
▪ Clean audit and accounting review of structure and funds
Financial
▪ Plan is fully funded, including a reserve for claims and investment fluctuations
▪ Implemented new liability-driven investment strategy
▪ Invested money conservatively
▪ Confident in the Trust’s future
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Investment update
How the Trust’s money is invested
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Investment mix as of June 30, 2017
Fixed income –
86.0% of assets
Canadian equity –
6.4% of assets
Global equity –
6.7% of assets
Cash & short-term
investments –
0.9% of assets
Target annual return is 3.5%
Investment performance
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Target annual return is 3.5%
▪ Since inception:
June 2015 to June 2017 returns 4.0%
▪ One year ending June 30, 2017 returns 3.7%
Solid conservative returns
Trust financial report
Financial summary
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Amount on
Dec 31, 2015
Amount on
Dec 31, 2016
Assets available at beginning of period $55,263,000 $54,394,000
Investment income and retiree contributions 481,000 490,000
Benefits costs (drugs, dental, etc.) (835,000) (1,134,000)
Operating expenses (515,000) (530,000)
Net assets available at end of period $54,394,000 $53,220,000
Benefit liabilities and administration $40,554,000 $39,727,000
Claims and investment fluctuation reserve 13,840,000 13,493,000
Total liabilities at end of period $54,394,000 $53,220,000
Note: Numbers are rounded to the nearest $1000.
Net assets available as of June 30, 2017 approximately $56 million.
Ongoing communication with you
Our website: cwbrtrust.ca
▪ Your central source for benefits information
▪ Links to key contacts and resources (e.g., insurer sites, J&D Benefits)
▪ News and updates as needed
▪ Ask questions
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Annual member report
▪ New report coming soon
▪ Watch your mailbox –
and the website –
in November
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Last year’s
member report
Pay-direct drug cards
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Are you using your drug card?
• Use it at the drug store to pay for
prescription drugs
• Pharmacist submits the claim
automatically
• Know at the pharmacy how
much will be reimbursed
• You pay only for the portion not
covered by the plan
How and where to file claims
Insurers
▪ Health or dental
• Manitoba Blue Cross (insurer)
• Online claims – Mybluecross at mb.bluecross.ca
• Paper forms - mb.bluecross.ca, or call J&D Benefits at
1-800-218-7018
▪ Life insurance claims
• SSQ Financial Group (life insurance coverage)
• Contact J&D Benefits at [email protected]
or 1-800-218-7018
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When in doubt, find the info you need at cwbrtrust.ca
Administrators
▪ Contact J&D Benefits Inc. for:
• General questions
• Address changes
• Dependant or beneficiary changes
• Report a death
Semira Couture at J&D
• 1-800-218-7018 x2238
• jdbenefits.com
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Q&AWhat questions do you have?