LCEC Retirement Plan Oversight and Performance Update

[Pages:22]LCEC Retirement Plan Oversight and Performance Update

March 17, 2016

Retirement Plan Structure

? LCEC provides two types of retirement benefits under two separate plans:

Defined Benefits

? Traditional Plan ? Cash Balance Plan

401(k)

? Retirement plan policies have been developed to ensure proper oversight is in place

Retirement Plan Oversight

Investment Committee

? Designated members of Executive Steering Committee, Board counsel, Internal Audit, Human Resources

? Meets quarterly

? Has engaged the services of an investment consultant (w/ Morgan Stanley) to assist in fulfillment of responsibilities and to provide independent expertise and opinion on plan management (John Hancock Retirement Plan Services) and performance

Responsibilities

? Establish and review investment objectives, policies, amendments, and guidelines

? Review performance of plans and plan components

? Periodically report results overview to Board of Trustees

Retirement Plan Performance Update

? Following slides are excerpts from the most recent quarterly report prepared for and reviewed by the Investment Committee

? Report based on 4Q 2015 results

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