ROLES AND RESPONSIBILITIES - Manulife



Governance Chart

Note: Use this chart and the Roles and Responsibilities table to assist you in establishing and documenting a governance framework, and defining duties and accountabilities within the governance process.

ROLES AND RESPONSIBILITIES

|Task |Board of Directors|VP Finance/ |Pension Committee |Human Resources |Plan Advisor |Manulife Financial|Investment |Record Retention |

| | |CFO | | | | |Manager/ | |

| | | | | | | |iWatch | |

|Plan Design: | | | | | | | | |

|Determination of overall Plan Design |Approves |Recommends | |Completes Task |Provides Input | | |Human Resources |

|Group RRSP/DPSP vs. RPP | | | | | | | | |

|Periodic review and confirmation | | |Reviews and |Completes Task |Provides Input | | | |

|Comparison against stated plan objectives | | |Recommends | | | | | |

|Competitive market review | | | | | | | | |

|Comparison against survey data | | | | | | | | |

|Confirmation on number of investment option choices | | | | | | | | |

|Recommendations for Plan Design changes |Approves |Recommends |Reviews |Completes Task |Provides Input | | | |

|Plan Amendments | | | | | | | | |

|Day to Day Member Administration: | | | | | | | | |

|Information to New Employees | | |Reviews |Reviews and Approves| |Provides | |Human Resources |

|Enrolment information and application | | | | | | | | |

|Purpose of the plan | | | | | | | | |

|Payroll/deduction information | | | | | | | | |

|Member booklet | | | | | | | | |

|Current Plan Members | | |Oversees | | |Provides | | |

|Information updates | | | | | | | | |

|Benefit payouts, option statements | | | | | | | | |

|Member statements | | | | | | | | |

|Communication of the purpose of the plan | | | | | | | | |

|Tax Reporting | | |Oversees |Completes Task | |Completes Task | |Human Resources |

|Pension Adjustment and Pension Adjustment Reversal | | | | | | | | |

|Member level benefit tax reporting | | | |Oversees | | | |Manulife Financial |

|Contribution receipts | | | | | | | | |

|Plan Level Administration: | | | | | | | | |

|Regulatory Required Administration Accountabilities: | | | |Completes Task | |Provides Input | | |

|Annual Information Return (AIR) | | | | | | | | |

|Plan Registration | | | | | | | | |

|Plan Amendment | | | | | | | | |

|Contribution Summary (Eg. Ontario Form 7) | | | | | | | | |

|Cost Certificate | | | | | | | | |

|Plan Financials: | |Completes Task | |Provides Input | | | |Finance |

|Review of Plan Sponsor financial statements | | | | | | | | |

|Consistency with corporate planning | | | | | | | | |

|Investments: | | |Reviews and | |Provides Input |Provides Input |Provides Input |Human Resources |

|Statement of Investment Policies and Procedures | | |Recommends | | | | | |

|Compare to stated investment objective | | | | | | | | |

|Market review | | | | | | | | |

|Peer comparison | | | | | | | | |

|Qualified investments | | | | | | | | |

|Investment option review/default investment review | | | | | | | | |

|Member level investment advice | | | | | | | | |

Employee Engagements:

|Employee feedback | | |Reviews and |Completes Task |Provides Input |Provides Input | | |

|Use of retirement planning tools | | |Recommends | | | | | |

|Investment diversity | | | | | | | | |

|Employee meetings/member education | | | | | | | | |

|Employee communication strategy | | | | | | | | |

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Board of Directors

▪ Ensure appropriate knowledge and skill on Pension Committee

Stakeholders

▪ Members of pension plan

Pension Committee (including Plan Administrator)

▪ Oversees and is responsible for the plan

▪ Delegates tasks

▪ Is ultimately responsible and accountable

Manulife Financial and , Human Resources

Administrative and Compliance Function

▪ Benefit Administration

▪ Plan Documentation

▪ Regulatory Filings

▪ Monitoring pf Providers

Manulife Financial, , and Plan Advisor

Investment Function

▪ Statement of investment policies & procedures

▪ Manager selection

▪ Fund selection process and review

▪ Monitoring, communication, specialized services

, Human Resources and Finance

Benefit Function

▪ Plan Design

▪ Plan Policy

▪ Communication and Education Plan

▪ Funding of plan contribution formula

▪ Cost effective delivery

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