1. Welcome to participants ~ Colin

2. Last Call for the Vote on Executive Committee ~ Colin

3. Summary of Role of Organizing Committee and Elections Committee ~ Colin

4. Presentation of draft Bank of Canada Pensioners’ Association Constitution ~ Florence

5. Proposed Plan of Action for Consideration of new Executive Committee ~ Florence / Colin

6. Preliminary expenditure proposals as basis for fee structure ~ Colin

7. Results of vote for Executive Committee positions, Introduction of new Executive Committee and hand-over of meeting to new President ~ Florence

Part II ~ Chaired by new President Paul Cliffen

8. Introductory Remarks of new President and other members of Executive Committee

9. Call for Approval of Draft Constitution to bring Bank of Canada Pensioners’ Association into being

10. Call for Approval of Membership Fee Structure

11. Next steps

12. Other business

Adjourn for Celebratory Lunch at the RA Centre (for those able to participate).

If the Constitution and fee structure are approved, memberships will be available immediately following the meeting as follows:

• $50 for first year, payable in one lump sum, or quarterly ($12.50 / quarter)
• pay what you can, for those who cannot manage the entire annual fee, to ensure that association is affordable for all
• $500 life-time membership for those who would like to help finance the initial start-up costs of the Association

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The following candidates are unopposed and will be acclaimed in their respective positions at the Annual General Meeting:

There have been four candidates nominated for the three Member at Large positions, including:

You are asked to vote for the candidates of your choice for the three Member at Large positions on the attached ballot form and mail or e-mail it to the elections coordinator, to be received by October 5^th (see Ballot form for more information). Alternatively, your ballot can be submitted at the Annual General Meeting on October 18^th.

This section provides relevant biographical information on all of the candidates.

I joined the Bank in September, 1966 with the initial intention of staying for about a year. However, the Bank turned out to be a very interesting place to work, and while enjoying a variety of challenging jobs there, I only returned to university part-time during the evenings to complete the Institute of Canadian Bankers program in 1983. My 30-year career at the Bank included interesting assignments in departments such as Audit, Personnel, International, and Comptroller's. However, the majority of my time was spent in Banking Operations in variety of management roles until early retirement in December, 1996. Since retirement, I have done some part-time consulting work, and become slightly addicted to golf!

Like so many of my retired Bank friends and colleagues, I was very upset by the Bank's decision to ignore pensioners last year while providing benefits to current staff from the extraordinary surplus in our pension fund. I want to do whatever I can to persuade the Bank to treat us fairly.

David Morgan – acclaimed Vice-President

I joined the Bank in 1974 after a brief, but undistinguished, start as a "chartered banker" in Toronto. I worked in several departments including Banking and Financial Analysis and Public Debt (remember them?), before being appointed Assistant Secretary in 1981. In the nineties, I spent nearly five years as Foreign Exchange Advisor in Toronto - I did not take it personally that the value of the Canadian dollar began its long, so far un-reversed, descent during this period.

I took early retirement in 1999, after 25 years, and joined some friends in a high-tech venture for the next couple of years. Now, like Paul, I am slipping into a slow addiction to golf and enjoying some part-time diversion at Lee Valley Tools.

I feel strongly that we need to build on the informal network of contacts many of us have as retirees and rehabilitate the channels of communication between ourselves and the Bank's current management team that, until recently, many, if not most, of us would have taken for granted. This is the contribution I hope to be able to make to the Association in its formative years, especially in the context of the present, evident discontent over the handling of the current pension surplus.

Maura Giuliani – acclaimed Secretary

My background is eclectic. It includes a degree in English literature, post-graduate work in the linguistics field, the raising of three children and a small flock of sheep. I spent ten years as a free-lance writer/editor in the Ottawa area, working with a variety of government departments before joining the Bank of Canada in 1988.

Working in communications as an editor was a great way to get to know the organization. In fact, the Bank turned out to be far more interesting than I expected, and I hung around for more than twelve years before retiring in 2000.

The present stance of the Bank’s Board of Directors frankly puzzles me. It is not typical of the Bank as I knew it, and I would like to help look for a resolution to the current inequitable treatment of pensioners.

Fernand Payer – acclaimed Treasurer

I joined the Bank in July 1963 and, after nearly 33 years, I retired in June 1996. In my career at the Bank, I performed a variety of challenging jobs in departments such as Public Debt, Banking Operations, Chief Accountant, Securities, Personnel and Comptroller’s. The last 22 years of my career were spent in a management position in the Comptroller’s Department – Payment Division. While at the Bank, I attended evening courses at Ottawa University where I completed three years of a Business Administration degree. In the 5 years since my retirement, I have done full time consulting work in the private and government sectors on PeopleSoft Human Resource System, including working at Siemens Canada, Alcan Aluminum, Bombardier Aeronautics and Human Resource Development Canada.

Like many of you, I was very upset by the way the Bank handled the extraordinary surplus in our

pension plan by totally ignoring those who contributed the most to this surplus. I want to do whatever I can to persuade the Bank to reverse its decision and to give the pensioners the share of the surplus they rightfully deserve.

Jocelyne Boily – Candidate for Member at Large

Here is a brief overview of my work and scholastic experience. I did my studies in different universities in the province of Quebec: my educational studies at the University of Laval, my linguistic studies at the University of Quebec in Chicoutimi, a specialization in second language at the University of Montreal, adult learning at the University of Quebec in Hull and public administration at ENAP in Hull. While studying I was teaching first at the elementary level, then at the secondary level, to adults at C.O.F.I. and finally at the Bank of Canada since 1981. I even went back to teach one course at the University. Teaching and studies have taken most of my time. Since retiring, I have continued to give courses at different embassies in Ottawa for some time. I have also discovered a passion for bridge and I play for pleasure but also at a competitive level.

My interest in the Pensioners’ Association is based on my concern for justice, which in my opinion is a value that always needs to be protected.

Gordon May - Candidate for Member at Large

I am a native Montrealer with a B. Comm. and MBA from McGill University. After working in the private sector in Montreal and the public service in Ottawa in the sixties, I joined the Bank in 1972. I acquired a CGA designation a few years later.

My first job in the Bank was as Adviser to the Secretary, Grey Hamilton, with the assignment of developing strategic planning and financial management systems. I then moved on to the newly developed Comptrollers Dept. and finally to DBO from which I retired in 1996 as Deputy Chief.

For the past fourteen years I have been involved with the Queensway-Carleton Hospital. I served on the hospital board for nine years, including a two-year term as Chair. I am currently Chairman of the QCH Foundation Board. I am also President of the Pinnacle at Kanata Lakes Community Association.

There are two reasons why I am interested in the formation and in serving on a Bank of Canada Pensioners' Association. The first is that I believe that in recent years the Bank has made a number of decisions that have had a negative impact on its people. One of these is the decision to ignore the staff recommendation to include pensioners in any arrangement to deal with the pension fund surplus. The second reason is to establish a vehicle for communications that will enable us to keep in touch.

Laurence T. (Larry) Moncrieff – candidate for Member at Large

I joined the Bank in Vancouver in 1954 and subsequently worked in the Research Dept., Toronto Agency, Audit Dept., Chief Accountant's Dept. and Securities Dept. (Chartered Bank Cash Management). In 1963 I was one of two selected to attend IBM computer training sessions and was assigned to the Research Dept. to assist in providing computer services for that department. In 1967 the Bank created the Computer Services Division of Secretary's Dept. to upgrade from the tabulating equipment it had been using for many years to computer technology. I was involved in the acquisition of the Honeywell computer used by the Bank and was the leader of the team that converted the Bond Control System. I represented the Bank and was Chairman of the Committee formed at the Canadian Bankers Association to develop the Automated Clearing System. I was an Assistant Chief of the Public Debt Dept. and later an Adviser in the Dept. of Banking Operations. I retired from the Dept. of Banking Operations in 1991.

I am one of the volunteer organizers of the semi-annual Retiree's Luncheon held in Ottawa in May and October and I have been involved in the start-up of the Pensioners’ Association – maintaining the database of pensioner information.

I have lived in Ottawa all of my life. I joined the Bank of Canada in April 1972 after a brief stint in the nursing field. All of my service (24 years) was in the former Public Debt Department in a wide variety of positions. When the Bank of Canada downsized in 1995, I returned to school and earned a diploma as a Travel Counsellor from Algonquin College. Since graduation, I have been working at Uniglobe Aquavacs Travel.

I enjoy travel and have cruised in the Caribbean and to Alaska. Other interests include, volunteer work with the Heart and Stroke Foundation, the Cancer Society, the Kidney Foundation and the Shepherd's of Good Hope Soup Kitchen.

I am interested in serving on the Executive Committee because I feel that the Bank of Canada has been extremely unfair to pensioners and to deferred pensioners. I also think that it would be advantageous to have an individual representing the deferred pensioners and to represent the interests of non-management employees.

During the meeting, there will be a presentation of the Constitution and a motion for its acceptance as the governing document for our Pensioners’ Association. If you cannot attend the meeting and would like to register your vote on this motion, or propose amendments for future consideration, please return the enclosed ballot, located at the end of this newsletter, to be received by the Elections Coordinator by October 5th.

This Constitution sets out the fundamental principles and by-laws under which the Bank of Canada Pensioners’ Association operates.

The Bank of Canada Pensioners' Association was formed on October 18, 2001 to provide representation and leadership for pensioners in three main areas: the pursuit of an equitable sharing of the pension fund surplus, improvements in retirement benefits over time, and improvement in communications with the Bank and among fellow pensioners. It was becoming clear that without organization, pensioners were at risk of having their interests ignored in the changing corporate culture of the Bank of Canada.

To provide representation for pensioners in dealings with the Bank of Canada.

To provide information to pensioners on important pension and benefit issues.

To advocate for fair and equitable treatment in the sharing of pension fund surpluses.

To monitor all changes made by the Bank of Canada to the pension plan for any impact on pensioners.

To keep abreast of changes in competitive benefits packages and to be proactive in the maintenance and improvement to pension and other benefits as warranted.

To provide a means for ensuring ongoing communications between the Bank and Pensioners on pension and retiree matters.

To maintain contacts with other similar pensioners’ organizations.

To provide a means of maintaining pensioner contacts.

To be democratic, open and accountable to members.

To ensure that all members benefit equitably from any Association expenditure regardless of their geographic location.

To maintain independence from the Bank to avoid compromising the advocacy role.

To maintain constructive working arrangements with the Bank, to strive for good faith cooperation and negotiated agreements, and to express dissent when necessary.

To rely on volunteers to run the Association with paid resources used as required based on the approved mandate and within the Association’s budget.

To ensure all key documents are bilingual.

The official name of the Association is The Bank of Canada Pensioners’ Association.

The Office of the Association will be in Ottawa with a mailing address to be determined by the Executive Committee.

Membership in the Association is open to any person in receipt of a pension, a deferred pension, or survivor benefits from the Bank of Canada, who pays dues as established by the constitution.

Membership dues will be proposed by the Executive Committee and voted by the membership at the Annual General Meeting. Dues will be set to cover the cost of operation of the Association. Any surplus will be used to further the objectives of the Association.

The Executive Committee has the right to revoke the membership of any member if, after a suitable review, it is determined that that member’s actions have brought discredit upon the Association. The review is to be undertaken by all non-affected members of the Executive Committee and the member has the right to attend any meetings set up for that purpose. The residual membership fee of that member will be refunded for the remainder of the period.

The operating year for membership, financial and other activities will be October 1 to September 30.

Any contract or document requiring the signature of the Association will be signed by the President or the Vice-President, and one other Officer of the Executive Committee. Cheques will normally be signed by the President, or the Vice-President, and the Treasurer.

Association funds will be used only for necessary operating expenses or in the direct pursuit of the Association’s objectives, in accordance with the annual approved budget. All expenditures, or reimbursements, are to be accompanied by appropriate receipts for auditing purposes.

There will be an Audit Committee to carry out a general review of the financial records of the Association and provide a report to the Executive Committee and the members of the Association at the annual general meeting. The Audit Committee will be headed by a designated Member at Large on the Executive Committee and one additional member of the Association who is not part of the Executive Committee. This latter person shall be selected by the Executive Committee. In addition, the financial accounts, minutes and other records of the Association will be open to inspection by any member at any time.

An Annual General Meeting will be held within 60 days of the end of the operating year.

Notice of the Meeting will be mailed or e-mailed to all members 30 days prior to the Annual General Meeting.

The purpose of the Annual General Meeting will be: delivery by the President of the Annual Report and by the Treasurer of the Annual Financial Report and proposed Budget for the following year; presentation by the Executive Committee of proposals and recommendations for approval by the membership; election of new Officers according to the election procedures; and an opportunity for the membership to ask questions and comment on the affairs of the Association.

Voting will be by show of hands with a majority vote by those present carrying

The Executive Committee can call for a mail-in vote by the membership on any issue deemed of significant importance.

The President or a quorum of the Executive Committee may call a Special General Meeting at any time and is required to do so on written requisition of ten percent of the members of the Association. Wherever possible, fourteen days written notice will be given for Special General Meetings.

The Executive Committee is the governing body of the Bank of Canada Pensioners’ Association. It is responsible for formulating and recommending to the Membership, broad policies and programs designed to further the objectives of the Association and for the implementation of those policies and programs.

The Executive Committee will consist of four Officers (President, Vice President, Secretary, and Treasurer) and three Members at Large.

Officers and Members of the Executive Committee will normally be elected for two-year terms. Reelection to the same office is permissible for a second term but not longer. For the first election in 2001, to ensure future continuity, Officers and Members will be elected for terms as outlined below. Each of these founding Officers and Members can be reelected for an additional two years.

President: 2 years
Vice President: 3 years
Secretary: 2 years
Treasurer: 3 years
Members at Large: 2 years

Elections for the Executive Committee will be carried out in accordance with the By-Laws under the supervision of an Elections Committee appointed by the President for each election.

The Elections Committee will consist of an Elections Coordinator and two other members of the Association. Members of the Elections Committee will not seek office.

The duties of the Elections Committee will be to establish the schedule for the election procedure, solicit and receive nominations, supervise the distribution of the candidate list and ballots, collect and tally ballots and announce the elected Officers and Members of the Executive Committee at the Annual General Meeting.

For each election, the Elections Coordinator will be responsible for putting together an initial slate of candidates to ensure that there will be at least one candidate for each position.

Nominees can submit their names to the Elections Committee by mail, e-mail, or phone to be received by the specified date. The Committee will acknowledge all nominations and confirm the willingness of the nominees to run for office.

Ballots can either be mailed to the Elections Committee by the specified date or submitted at the Annual General Meeting where a final tally will be conducted and the results announced.

Details of the vote will be confidential known only to the Elections Committee. Only the winning candidates will be announced.

In the event of the resignation or death of an Officer, a quorum of Executive Committee members will appoint a replacement officer for the balance of the term.

All meetings will be chaired by the President. In the absence of the President, the Vice President will act as Chairperson.

Executive Committee meetings will be held at least three times per year in Ottawa. The Officers of the Executive Committee must be available to attend meetings in Ottawa.

Voting on resolutions will be by show of hands.

A majority vote of those present will carry; ties will be broken by the decision of the President, or the Vice-President acting in the absence of the President.

A quorum for an Executive Committee meeting will be four, two of which must be Officers and one of which must be the President or Vice President.

In the absence of the Secretary, any attending member may be appointed by the group to act as secretary for the meeting.

The President is the principal officer of the Bank of Canada Pensioners’ Association and the chairperson of the Executive Committee.

Responsible through the Executive Committee for formulating and recommending to the Membership, broad policies and programs designed to further the objectives of the Association.

Within the approved mandate, is responsible for developing strategy, setting priorities, and directing the work program including assigning responsibilities to Members at Large and appointing committees of the general membership.

Acts as the principal representative and spokesperson for the Association in all dealings with the Bank of Canada and in all other official liaison activities.

Chairs all meetings of the general membership and the Executive Committee.

Presents the annual report to the Membership.

Promotes interest and active participation in the Association.

One of four authorized signing officers for the Association.

Officer of the Executive Committee.

Fulfills the duties of the President in the absence of the President.

Assists the President in all responsibilities to achieve the Association’s objectives.

Takes special responsibility for policies and procedures relating to bilingualism and geographic inclusiveness.

One of four authorized signing officers for the Association.

Secretary:

Officer of the Executive Committee.

Participates in Executive Committee activities to achieve the Association’s objectives.

Manages all meetings of the Association and the Executive Committee including: arranging venue, compiling the agenda, issuing notice, and maintaining and distributing minutes of the meetings according to Association policy.

Administers all correspondence and membership lists.

Has custody of all records and documents of the Association except for those maintained by the Treasurer.

Ensures the administration of the Association complies with good business practice.

One of four authorized signing officers for the Association.

Officer of the Executive Committee.

Participates in Executive Committee activities to achieve the Association’s objectives.

Keeps financial records, including books of account, consistent with prudent financial management and good business practice.

Maintains account(s) at a deposit taking financial institution approved by the Executive Committee.

Receives all payments and makes all disbursements of funds as directed by the Executive Committee.

Presents an annual financial report to the Association Membership.

One of four authorized signing officers for the Association.

Members of the Executive Committee.

Participate in Executive Committee activities to achieve the Association’s objectives.

Take special responsibility for specific functions as assigned by the President such as:

Research on pensions and benefits

Liaison activities with other associations

Presentations to the Membership

Chairing of committees

Provides advice to the Executive Committee on areas of expertise.

Assists any of the Officers of the Executive Committee with their responsibilities as directed by the President.

The President may appoint Special Committees whose members will hold office at the will of the Executive Committee.

The Executive Committee will determine the duties of the Special Committees.

To amend this constitution, a Notice of Amendment will be distributed to all members. A two-thirds majority of the votes cast in favour will carry.

A scheduled review of the constitution will be carried out by the Executive Committee every three years. Members will be invited to make proposals for change as part of the review. However, at any time, the Executive Committee can submit an emergency resolution to amend the constitution to a vote of the membership. In addition, an emergency resolution proposed in writing by at least ten percent of the members of the Association must be submitted to a vote of the membership.

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Mailed or e-mailed ballots and votes for the adoption of the Constitution must be in the hands of Elections Coordinator ~ October 5

Notice of intention to attend the celebratory lunch and / or the Annual General Meeting should be in hands of editors ~ October 5

Inaugural General Meeting ~ October 18,

10:00 a.m., R.A. Centre, 2451 Riverside Drive, Ottawa

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We hope you will take the time to vote for the candidates of your choice for the Executive Committee positions being contested on October 18th. As well, your vote on the adoption of the proposed constitution is equally important. Both are essential steps in establishing a vibrant, well managed Pensioner’s Association that will be an effective advocate for the interests of all Bank pensioners.

If the Constitution and fee structure are approved, memberships will be available immediately following the meeting.

Please mail or e-mail your ballot to Florence Coleridge for the candidates of your choice. In addition, if you do not plan to attend the Annual Meeting or have proposed amendments for future consideration, send her your ballot for or against the ratification of the proposed constitution.

Please contact either Florence, Paul Cliffen or Colin Stephenson, by e-mail or telephone, if you plan to attend the lunch and/or the General Meeting. Please contact us as well if you require a drive to get there.

Florence Coleridge

308 Manor Avenue
Ottawa, On
K1M 0H8
613-741-4905
coleridge@sympatico.ca

Paul Cliffen

75 Saddlehorn Cres.
Kanata, On
K2M 2B1
613-592-9028
pcliffen@eisa.com