Welcome to all members

To the annual YPPG General Assembly

of the Toronto Chapter

on Sept. 18, 2014

1. Opening comments and establishing General Assembly quorum 2. Approval of Minutes from last General Assembly 3. Adoption of the General Assembly agenda 4. Reading and adoption of the Financial statements ending December 31, 2013 5. Vote to confirm Tony Street (Ontario CPA) as External Auditor 6. Adoption of the amendments of YPPG’s By-laws 7. YPPG’s achievements: • Meetings with YPG and status of our Pension Fund • Meetings with Financial Services Commission of Ontario (FSCO) • Meetings with Canadian Federation of Pensioners (CFP). • Meeting with Law firm 8. Status on the Target Benefit Plan (TBP) 9. Presentation of Candidates for election to Board of Directors 10. Election of the Board of Directors 11. Miscellaneous (topics submitted by members) 12. Adjournment of General Assembly

General Assembly Agenda - Scarborough, Thurs. Sept 18, 2014

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Financial statements ending December 31, 2013

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Financial statements ending December 31, 2013

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Financial statements ending August 31, 2014

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Vote to confirm Tony Street (Ontario CPA) as External Auditor

Tony Street Financial and Planning Consultant Previous experiences Yellow Pages Group / Groupe Page Jaune, Bell Actimedia, Sympatico Lycos Inc Education: Concordia University

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1. Note: Amendment of By-laws must be accepted by a majority of all members. 2. Note: Industry Canada must accept our By-laws. 3. Provide answers/clarification to questions previously received. 4. Vote on each amendment/changes to By-laws.

Adoption of the amendments of YPPG’s By-laws

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Adoption of the amendments of YPPG’s By-laws

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YPPG’s achievements

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Meetings with YPG and status of our Pension Fund

Meetings with Financial Services Commission of Ontario (FSCO)

Meetings with Canadian Federation of Pensioners (CFP).

Meetings with Law Firm.

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YPPG’s achievements Meetings with YPG and status of our Pension Fund

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Meeting with Julien Billot, new President of Yellow Media

Meeting with Dany Paradis, VP and Chief Human Resources Officer

Discussions regarding keeping Pensioners and YPPG up to date on all aspects of the Pension Fund

Up to date status on the performance of our Pension Plan.

Discussions regarding a Pension Advisory Committee

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YPPG’s achievements Meetings with Financial Services Commission of Ontario (FSCO)

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Re YPG's announcement of Administrative Split and ensuring all proper procedures were met in establishing YPG's Defined Benefit and Defined Contribution Pension

Re YPG's notice of Solvency Relief.

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YPPG’s achievements Meetings with Canadian Federation of Pensioners (CFP)

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Attended monthly meetings and discussions with most of Canada's largest Pensioners Groups, sharing challenges, resources, and experiences in protecting pensions for our pensioners.

Working together, employing strength in numbers to deal with attempts to achieve favourable legislative changes, Provincially and Federally.

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YPPG’s achievements Meetings with Law Firm

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Negotiated a free consultation with leading Law Firm- Koskie And Minsky, with their Pension Division. We established a future relationship.

They stressed the importance of being proactive in protecting our pensioners and applauded us for having done so.

They presented the benefits of a Pension Advisory Committee.

Koskie and Minsky also represent CFP, Nortel and many other a pensioners groups and have already done legwork of which we will have future benefit if needed.

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Status on the Target Benefit Plan (TBP)

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1. Why should we be concerned about this proposed TBP even if this is only for registered pension at the federal level. - If this legislation is accepted anywhere in Canada, at any level of government, it then becomes a precedent for similar legislation to be implemented in any Province of Canada.

- CFP sent a submission on June 23, 2014 to Finance Canada looking at TBP Legislation, advocating on behalf of 250,000 Pensioners, entitled to receive Defined Benefit Pensions, from the Private Sector, and want TBP Legislation to ensure Employers honour existing commitments to Pensioners and Employees.

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Status on the Target Benefit Plan (TBP) (cont’d)

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2. What are the next steps…

- CFP has sent a submission to Industry Canada on the review of the BIA (Bankruptcy Insolvency Act) and CCAA (Companies' Creditors Arrangement Act) in July 2014, stressing the following points:

• Pension protection in current Insolvency Legislation is weak • Pensions are Deferred Wages as confirmed by The Supreme Court of

Canada ( IBM Canada Ltd. V. Waterman 2014 SCC 70- Part (4) • Pension Plan underfunding is commonplace and when the Financial Health

of a company is in jeopardy, that company's Pensioners are the most vulnerable to its' insolvency.

- CFP sent a submission to Legislative Committee in Alberta looking at TBP Legislation, advocating on behalf of 250,000 Pensioners, entitled to receive Defined Benefit Pensions, from the Private Sector, and want TBP Legislation to ensure Employers honour existing commitments to Pensioners and Employees. - Ongoing advocating and lobbying on behalf of Pensioners and Employees entitled to receive Defined Benefit Pensions.

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Toronto Chapter requires 2 directors. The candidates are: 1. Guilbeault, Mark 2. McIntyre, Doug

Presentation of Candidates for election to Board of Directors Toronto Chapter

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1. Explanation of procedure for the election of the Board of Directors. - Members had to submit their candidature no later than August 9, 2014

Election of the Board of Directors

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Miscellaneous ( + topics submitted by members)

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1. When is the membership renewal due: - Mail out end of October - Contribution due on December 1St for membership 2014/2015 (December 2014 - November 2015)

2. Volunteers for special committees requested

Recruiting new members Publishing articles on the YPPG Web

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Thank You to all Members

for attending this annual YPPG General Assembly of the Toronto Chapter

on Sept. 18, 2014

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