Basic Information

Reference Number

0000137317

Issuing Organization

University of Winnipeg

Solicitation Type

RFP - Request for Proposal (Formal)

Solicitation Number

RFP-FIN-2018-015

Title

The University of Winnipeg Pension Plan Asset Liability Modelling (ALM) Study

Source ID

PU.AC.MB.288419.C90876

Agreement Type

Canadian Free Trade Agreement (CFTA)

Details

Location

Canada, Manitoba, Winnipeg

Description

The University of Winnipeg Pension Plan is a solvency exempt pension plan, registered in the province of Manitoba. The University reports pension expense in accordance with Public Sector Accounting Standard 3250. The Plan is closed to new entrants since 2000. As at the valuation date, December 31, 2016, total assets of the Plan were $131,687,000, and liabilities totaled $150,490,000, with approximately 32.5% of liabilities attributable to active members and the remainder to deferred vested members, retirees and beneficiaries.
An asset liability modelling (ALM) study for the Plan was last completed in 2013, and a de-risking glide path was implemented. The Board now wishes to conduct an ALM study to review the current de-risking glide path, and to assess the merits of an alternative investment strategy which incorporates immunization of cash flows in the short term, and allocations to equities in the mid and longer term. Specifically, under the alternative investment strategy:

the Plan would seek to own a ladder of 1- to 5-year high quality (investment grade A or better) Canadian bonds with each year of the ladder matching projected net cash outflows of the Plan for that year.
The liabilities for cash flows beyond 5 years would be allocated to growth assets including common equity and real estate.
Annual excess equity returns (over the valuation discount rate) would be used to roll the immunization component forward; where equity returns are less than the valuation discount rate, the immunization component would remain unchanged.

Dates

Publication

2018/11/22 11:40:03 AM CST

Bid Intent

Not Available

Question Acceptance Deadline

2018/12/06 03:00:00 PM CST

Questions are submitted online

Closing Date

2019/01/07 03:00:00 PM CST

Contact Information

Purchasing Services

204-786-9175

purchasing@uwinnipeg.ca

Bid Submission Process

Bid Submission Type

Physical Bid Submission

Additional Bidding Instructions

Information must be received at the Submission Address no later than the Closing Date and Time. Information received after that date and time will be returned unopened to the Offeror. It is the Offeror’s sole responsibility to ensure that the Information is delivered personally, by mail, or by courier to the designated location prior to the Closing Date and Time. Information submitted via electronic (email) or facsimile (fax) will not be accepted.

Two (2) copies (1 original and 1 hardcopy) of the sealed response to this Request and all supporting documents should be submitted by Registered Mail, Courier or hand delivered no later than Monday January 7, 2019 @ 3:00 p.m. CDT.

Information should be enclosed in a sealed envelope or box clearly marked with:

Request Name and Number;
Closing Date; and,

Offeror's Return Address and email address

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