GENMO Pension Committee Mtg. October 16, 2018
     On October 16, GENMO directors Tom Laurie, Mike Powell and Garry
GENMO Pension Committee Mtg. April 25, 2018
Quarterly Pension Committee Meeting April 25, 2018  On April 25, Tom Laurie—in
Pension Committee Meeting December 19, 2017
Pension Committee Meeting- December 19, 2017 On Tuesday December 19 at headquarters on Co
Pension Committee Meeting- May 12, 2017
Pension Committee Meeting- May 12, 2017 On May 12, 2017, GENMO’s Pension Review Com
Pension Committee Meeting October 28 2016
  On October 28, Mike Powell and the writer met with Ines Craviotto, Chief Financial


February 4, 2014
Pension Committee Meeting January 6, 2014

   On January 6, 2014, your pension plan subcommittee, consisting of Mike Powell and Garry Marnoch, met with Dave Courtney--Employment Cost Analysis Manager, and Jeff Rolfs--Vice President Finance and Chief Financial Officer to review the performance of our pension plan for the quarter ended September 30, 2013.

    Overall our pension fund is slowly improving.

    During the third quarter the plan assets decreased by $339 million as payments from the plan exceeded the income from investments and contributions from GMCL.  As of the 9/1/12 valuation, the solvency ratio is 76% of liabilities.  With rising interest rates and good asset returns we expect that the 9/1/13 filing will show improvement.

    The GM Canada salaried pension plan continues to beat the benchmarks in most investment categories.  Overall there was a 1.3% return for the third quarter with an annual return of 2.6%.  This topped the overall benchmark by 0.2% for the quarter and 0.7% annually. The plan outperformed the benchmarks for the last five quarters, and for nine of the most recent eleven quarters.  Virtually break-even to benchmark performance in the five-year view continues to reflect the market collapse of 2008-9 and will drop out of the calculations as the window moves forward.

    A very positive development is that there has been a significant improvement in investment performance stability.  When investing for pensions, stability is critical, and has improved significantly since 2008.  Stability is the purpose of the derisking strategy adopted for the plan since the financial crisis.


Wednesday, January 23, 2019