Independent Member of the Pension Committee

The Supplemental Pension Plan for Employees of the City of Dollard-des-Ormeaux (the “Plan”) is seeking an independent member to serve on its Pension Committee.

ROLE OF THE PENSION COMMITTEE AND THE INDEPENDENT MEMBER

The role of the Pension Committee is to provide for the management of the pension fund and the day-to-day administration of the Plan. As such, the members of the Pension Committee have a fiduciary responsibility and assume the duties of an administrator of the property of others. To fulfill its role, the Committee shall:

• Act with prudence, diligence, skill, honesty, and integrity, as a reasonable person would in similar circumstances;
• Take appropriate steps to protect the rights of members and beneficiaries;
• Preserve and grow the assets of the pension fund; and
• Ensure the performance of a number of functions, such as enrolling eligible employees in the Plan, establishing and enforcing the Plan’s investment policy, and verifying the remittance of contributions to the pension fund.

The Pension Committee shall include an independent member and he or she shall be appointed by the Pension Committee. The independent member’s responsibilities are the same as those of the other members of the Pension Committee, as set out below.

RESPONSIBILITIES OF PENSION COMMITTEE MEMBERS

As part of their duties, members of the Pension Committee shall, among other things:

• Regular attendance;
• Actively participate in the work of the Committee and in the achievement of its objectives;
• Read and review the information and documents provided to them prior to or at a meeting;
• Take part in decisions while taking into account the expertise or opinions obtained; and
• Share their knowledge, expertise and opinions on the subjects discussed at the meetings.