Meet your Office of Pension Fund Management
Angela Winder, Fund Administrator and Betsy Springer, Director
Key Areas of Support/Consultation:
The Office of Pension Fund Management works closely with HR, Finance and the Business Office on pension benefit, cash flow and external reporting matters. They have had a long, collaborative relationship with professionals in these offices and are grateful for their depth of knowledge. The PFM also works with the Department of Advancement on investment matters for the Endowment Fund. As Director, Betsy Springer chairs the Pension Committee and has an ongoing and close working relationship with members of the committee who represent employee groups, as well as the employer.
What they are known for:
The Office of Pension Fund Management is accountable for the effective management of the $1.1-billion investment fund of the Carleton University Retirement Plan. The fund portfolio is currently valued at about $1.1 billion and it is invested in a range of asset types. The PFM’s over-arching goal is to manage the pension fund with a high standard of care and in accordance with legislation, recognizing the needs of all stakeholders in the retirement plan. Pension Fund Management ensures the effective operation of the fund and maintains the security of fund assets by establishing appropriate internal controls and monitoring the investment managers and trustee. In accordance with legislation, PFM reports to several governmental bodies and institutional investor groups annually both to meet regulatory requirements and share best practices with other pension funds. They work extensively with numerous external providers to fulfill these responsibilities, including investment man! agers, the custodian and trustee that holds the assets of the pension fund, and the plan’s actuary.
They also communicate important plan matters to members of the plan, host information sessions to keep plan members updated on the financial position of the plan, as well as any changes that have been recommended by the Pension Committee.
How do they makes a difference?
The PFM says it is incredibly gratifying to support the provision of retirement benefits to members of the Carleton University Retirement Plan. For many people, their retirement funds are their biggest financial assets, and the PFM is able to support them by making complicated investment decisions that they might otherwise have to make themselves. The office also makes sure that the Pension Committee, the plan members, retirees and the Board of Governors get the information they need to understand the retirement plan and its financial position. The office always keeps in mind that all stakeholders have an interest in a well-managed, financially-stable plan.
Did You Know?
- The PFM provides support for the Endowment Fund, which is currently about $200 million.
- Over 5 years, the average annual rate of return has been about 12%
- The PMF is located in 606 Robertson Hall