The University of Waterloo is the sponsor and plan administrator for the University of Waterloo Pension Plan for Faculty and Staff (Pension Plan), a defined benefit registered pension plan offering retirement benefits to faculty and staff of the University of Waterloo and its affiliated institutions.
The Board of Governors for the University of Waterloo has delegated certain governance aspects of the Pension Plan to the Pension & Benefits Committee and Pension Investment Committee, with administrative aspects delegated to University of Waterloo staff. CIBC Mellon is engaged as the Pension Plan’s Trustee and Custodian, and facilitates most accounting functions.
The Pension Plan has invested assets of approximately $2.3 billion which are governed through its Statement of Investment Policies and Procedures, Fund Implementation Procedures and Responsible Investment Policy. The Pension Investment Committee provides general oversight to the Pension Plan’s investments, and consists of representatives from faculty and staff groups, senior University administration, Board of Governors and community members, all of whom have financial experience and expertise.
The University of Waterloo wishes to engage the services of an advisor to provide reporting, analysis, and recommendations to support the monitoring and decision making for the Pension Plan’s invested assets.
The contract will have an initial term of five (5) years, beginning (estimated) December 2023 with one additional option to extend the contract upon mutual agreement for a further three (3) years, creating a possible eight-year contract.
The award of this contract in no way obligates the University to utilize the services of the successful bidder exclusively, and the University specifically reserves the right to negotiate with vendors and establish contracts in addition to this one.
