{"id":7190,"date":"2022-05-12T07:00:51","date_gmt":"2022-05-12T07:00:51","guid":{"rendered":"https:\/\/elcicgsi.ca\/?p=7190"},"modified":"2024-10-17T18:06:22","modified_gmt":"2024-10-17T18:06:22","slug":"may-pension-newsletter-6","status":"publish","type":"post","link":"https:\/\/dev.elcicgsi.ca\/?p=7190","title":{"rendered":"May 2022 Pension"},"content":{"rendered":"[vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; id=&#8221;Mental Health&#8221; advanced_gradient_angle=&#8221;0&#8243; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][image_with_animation image_url=&#8221;7179&#8243; image_size=&#8221;full&#8221; animation_type=&#8221;entrance&#8221; animation=&#8221;Fade In&#8221; hover_animation=&#8221;none&#8221; alignment=&#8221;&#8221; border_radius=&#8221;none&#8221; box_shadow=&#8221;none&#8221; image_loading=&#8221;default&#8221; max_width=&#8221;100%&#8221; max_width_mobile=&#8221;default&#8221;][divider line_type=&#8221;No Line&#8221;][\/vc_column][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text]\n<h4>The May Pension Newsletter includes:<\/h4>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><a href=\"#pensionreport\">2021 Annual Pension Report<\/a><\/li>\n<li><a href=\"#strategicpension\">Strategic Pension Review<\/a><\/li>\n<li><a href=\"#investment\">Investment Commentary<\/a><\/li>\n<li><a href=\"#languishing\">Languishing: What It Means and Why You Might Be Struggling With It<\/a><\/li>\n<li><a href=\"#incase\">In Case You Missed This&#8230;<\/a><\/li>\n<li><a href=\"#questions\">Questions?<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n[\/vc_column_text][divider line_type=&#8221;Full Width Line&#8221; line_thickness=&#8221;1&#8243; divider_color=&#8221;default&#8221;][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; id=&#8221;pensionreport&#8221; advanced_gradient_angle=&#8221;0&#8243; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_row_inner column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; text_align=&#8221;left&#8221; row_position=&#8221;default&#8221; row_position_tablet=&#8221;inherit&#8221; row_position_phone=&#8221;inherit&#8221; overflow=&#8221;visible&#8221; pointer_events=&#8221;all&#8221;][vc_column_inner column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][image_with_animation image_url=&#8221;7193&#8243; image_size=&#8221;full&#8221; animation_type=&#8221;entrance&#8221; animation=&#8221;Fade In&#8221; hover_animation=&#8221;none&#8221; alignment=&#8221;&#8221; img_link_target=&#8221;_blank&#8221; border_radius=&#8221;none&#8221; box_shadow=&#8221;none&#8221; image_loading=&#8221;default&#8221; max_width=&#8221;100%&#8221; max_width_mobile=&#8221;default&#8221; img_link=&#8221;https:\/\/dev.elcicgsi.ca\/wp-content\/uploads\/2022\/04\/2021-Annual-Report.pdf&#8221;][divider line_type=&#8221;No Line&#8221;][heading]\n<h4>We hope you enjoy this year\u2019s modern version of the <a href=\"https:\/\/dev.elcicgsi.ca\/wp-content\/uploads\/2022\/04\/2021-Annual-Report.pdf\">ELCIC Pension Plan 2021 Annual Report<\/a><\/h4>\n[\/heading][\/vc_column_inner][\/vc_row_inner][vc_row_inner content_placement=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; text_align=&#8221;left&#8221; row_position=&#8221;default&#8221; row_position_tablet=&#8221;inherit&#8221; row_position_phone=&#8221;inherit&#8221; overflow=&#8221;visible&#8221; pointer_events=&#8221;all&#8221;][vc_column_inner column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text]With the work of the honey bee as our theme, we provide you with buzz on plan membership, investment results, and more! We hope you find the information interesting and relevant and we always welcome your feedback.[\/vc_column_text][divider line_type=&#8221;Full Width Line&#8221; line_thickness=&#8221;1&#8243; divider_color=&#8221;default&#8221;][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; id=&#8221;strategicpension&#8221; advanced_gradient_angle=&#8221;0&#8243; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_row_inner column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; text_align=&#8221;left&#8221; row_position=&#8221;default&#8221; row_position_tablet=&#8221;inherit&#8221; row_position_phone=&#8221;inherit&#8221; overflow=&#8221;visible&#8221; pointer_events=&#8221;all&#8221;][vc_column_inner column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][image_with_animation image_url=&#8221;7194&#8243; image_size=&#8221;full&#8221; animation_type=&#8221;entrance&#8221; animation=&#8221;Fade In&#8221; hover_animation=&#8221;none&#8221; alignment=&#8221;&#8221; border_radius=&#8221;none&#8221; box_shadow=&#8221;none&#8221; image_loading=&#8221;default&#8221; max_width=&#8221;100%&#8221; max_width_mobile=&#8221;default&#8221;][divider line_type=&#8221;No Line&#8221;][heading subtitle=&#8221;This report was prepared for plan members and participating employers as part of ELCIC Group Services Inc.\u2019s ongoing strategic review and as a response to the 2021 Eastern Synod Assembly motion:&#8221;][\/heading][\/vc_column_inner][\/vc_row_inner][vc_row_inner column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; text_align=&#8221;left&#8221; row_position=&#8221;default&#8221; row_position_tablet=&#8221;inherit&#8221; row_position_phone=&#8221;inherit&#8221; overflow=&#8221;visible&#8221; pointer_events=&#8221;all&#8221;][vc_column_inner column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text]<em>That the Eastern Synod petitioned Group Services Inc. to prepare a report detailing the advantages and disadvantages of the ELCIC joining a public sector type defined benefit pension plan and to make the report available to ELCIC congregations and GSI pension plan members.<\/em><\/p>\n<p>We trust that this report provides useful information and an appreciation of the complexities around this issue and assessing other options. We will begin with a general governance framework and then get to more details.[\/vc_column_text][vc_column_text]<div id=\"accordions-7204\" class=\"accordions-7204 accordions\" data-accordions={&quot;lazyLoad&quot;:true,&quot;id&quot;:&quot;7204&quot;,&quot;event&quot;:&quot;click&quot;,&quot;collapsible&quot;:&quot;true&quot;,&quot;heightStyle&quot;:&quot;content&quot;,&quot;animateStyle&quot;:&quot;swing&quot;,&quot;animateDelay&quot;:1000,&quot;navigation&quot;:true,&quot;active&quot;:999,&quot;expandedOther&quot;:&quot;no&quot;}>\r\n                <div id=\"accordions-lazy-7204\" class=\"accordions-lazy\" accordionsId=\"7204\">\r\n                    <\/div>\r\n\r\n    <div class=\"items\"  style=\"display:none\" >\r\n    \r\n            <div post_id=\"7204\" itemcount=\"0\"  header_id=\"header-1651602429266\" id=\"header-1651602429266\" style=\"\" class=\"accordions-head head1651602429266 border-none\" toggle-text=\"\" main-text=\"What is ELCIC Group Services Inc. (GSI)\u2019s role regarding the ELCIC Pension Plan?\">\r\n                                    <span id=\"accordion-icons-1651602429266\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fas fa-chevron-right\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1651602429266\" class=\"accordions-head-title\">What is ELCIC Group Services Inc. (GSI)\u2019s role regarding the ELCIC Pension Plan?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1651602429266 \">\r\n                <p style=\"text-align: justify\">GSI\u2019s role is threefold:<\/p>\n<ul>\n<li style=\"text-align: justify\">Plan Sponsor \u2013 responsible for designing the structure of the plan.<\/li>\n<li style=\"text-align: justify\">Plan Administrator \u2013 responsible for oversight, management, and administration of the plan in accordance with the regulations and guidelines. This includes, but is not limited to, investment decisions and selecting and monitoring any third-party providers.<\/li>\n<li style=\"text-align: justify\">Record-keeper \u2013 responsible for maintaining accurate accounts for each member.<\/li>\n<\/ul>\n            <\/div>\r\n    \r\n            <div post_id=\"7204\" itemcount=\"1\"  header_id=\"header-1651602520310\" id=\"header-1651602520310\" style=\"\" class=\"accordions-head head1651602520310 border-none\" toggle-text=\"\" main-text=\"How does GSI carry out these responsibilities?\">\r\n                                    <span id=\"accordion-icons-1651602520310\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fas fa-chevron-right\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1651602520310\" class=\"accordions-head-title\">How does GSI carry out these responsibilities?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1651602520310 \">\r\n                <p style=\"text-align: justify\">GSI has:<\/p>\n<ul style=\"text-align: justify\">\n<li>hired staff with the appropriate education and experience;<\/li>\n<li>nominated directors with related skills and who undergo continual board education;<\/li>\n<li>engaged consultants to provide additional expertise.<\/li>\n<\/ul>\n<p style=\"text-align: justify\">The directors provide oversight, monitoring, and review. A general review is done on a regular schedule (mostly quarterly) and deeper due diligence is done on a rotational basis for the various mandates or programs.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"7204\" itemcount=\"2\"  header_id=\"header-1651602695657\" id=\"header-1651602695657\" style=\"\" class=\"accordions-head head1651602695657 border-none\" toggle-text=\"\" main-text=\"What reviews have been done by GSI on the ELCIC Pension Plan?\">\r\n                                    <span id=\"accordion-icons-1651602695657\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fas fa-chevron-right\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1651602695657\" class=\"accordions-head-title\">What reviews have been done by GSI on the ELCIC Pension Plan?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1651602695657 \">\r\n                <p style=\"text-align: justify\">Here is a high-level summary of the past two decades:<\/p>\n<ul>\n<li style=\"text-align: justify\">2001 to 2012 - resolving the unfunded liability in the Retiree Fund portion of the Pension Plan<\/li>\n<li style=\"text-align: justify\">2011 to 2015 \u2013 improve member outcomes by revising the contribution policy and changing the investment structure<\/li>\n<li style=\"text-align: justify\">2018 - review of the ELCIC Pension Plan text to eliminate discrimination based on age or employment class and clarify other attributes<\/li>\n<\/ul>\n            <\/div>\r\n    \r\n            <div post_id=\"7204\" itemcount=\"3\"  header_id=\"header-1651602698644\" id=\"header-1651602698644\" style=\"\" class=\"accordions-head head1651602698644 border-none\" toggle-text=\"\" main-text=\"What are the pension design options available under Canadian legislation?\">\r\n                                    <span id=\"accordion-icons-1651602698644\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fas fa-chevron-right\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1651602698644\" class=\"accordions-head-title\">What are the pension design options available under Canadian legislation?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1651602698644 \">\r\n                <p style=\"text-align: justify\">There are currently only three options:<\/p>\n<p style=\"text-align: justify\">Defined Contribution (DC):<\/p>\n<ul style=\"text-align: justify\">\n<li>defined level of contributions,<\/li>\n<li>investment income is earned,<\/li>\n<li>upon retirement, the account balance is used to purchase an annuity or Life Income Fund (LIF).<\/li>\n<\/ul>\n<p style=\"text-align: justify\">Defined Benefit (DB):<\/p>\n<ul style=\"text-align: justify\">\n<li>works in reverse; pension benefit is defined by formula and works back into what contributions are needed in relation to the investment risk taken.<\/li>\n<\/ul>\n<p style=\"text-align: justify\">Target Benefit (TB):<\/p>\n<ul style=\"text-align: justify\">\n<li>Combines features of both DC and DB,<\/li>\n<li>Contributions are fixed and benefit defined, but benefit can be modified, which is why it is a \u2018target\u2019.<\/li>\n<\/ul>\n<p style=\"text-align: justify\">The motion refers to a <em>public sector type defined benefit pension. <\/em>These plans are not accepting new employers. Certain defined benefit plans have created a new option under their structure to accept other employers. These are known as Target Benefit Plans; therefore, this report examines that option.<strong>\u00a0<\/strong><\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"7204\" itemcount=\"4\"  header_id=\"header-1651602699224\" id=\"header-1651602699224\" style=\"\" class=\"accordions-head head1651602699224 border-none\" toggle-text=\"\" main-text=\"What are the differences between the plan designs beyond the basic definitions above?\">\r\n                                    <span id=\"accordion-icons-1651602699224\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fas fa-chevron-right\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1651602699224\" class=\"accordions-head-title\">What are the differences between the plan designs beyond the basic definitions above?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1651602699224 \">\r\n                <p style=\"text-align: left\">In April and May 2021, the GSI newsletter provided a two-part education series on the general differences between a DC and DB pension. These issues are archived on the GSI website if you would like to refer back to them. We will summarize some of the attributes between the DC and TB in the table below:<\/p>\n<table class=\" aligncenter\">\n<tbody>\n<tr>\n<td width=\"108\"><\/td>\n<td width=\"198\"><strong>Defined Contribution plan<\/strong><\/td>\n<td width=\"234\"><strong>Target Benefit plan<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left\" width=\"108\">Sponsor<\/td>\n<td width=\"198\">employer<\/td>\n<td width=\"234\">joint employer and member or<\/p>\n<p>in some cases, member only<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left\" width=\"108\">Governance<\/td>\n<td width=\"198\">typically, employer<\/td>\n<td width=\"234\">shared or member only<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left\" width=\"108\">Regulatory funding<\/td>\n<td width=\"198\">no additional funding beyond<\/p>\n<p>stated contributions<\/td>\n<td width=\"234\">no solvency funding;<\/p>\n<p>benefits may be reduced<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left\" width=\"108\">Risk allocation<\/td>\n<td width=\"198\">100% member<\/td>\n<td width=\"234\">future benefit changes are 100% member; some plans may allow contribution changes 50\/50 between member and employer<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left\" width=\"108\">Investment and longevity risk<\/td>\n<td width=\"198\">borne by members individually<\/td>\n<td width=\"234\">borne by members as a group<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left\" width=\"108\">Retirement<\/td>\n<td width=\"198\">balance to Life Income<\/p>\n<p>Fund (LIF) or annuity<\/td>\n<td width=\"234\">target retirement benefit<\/p>\n<p>payable monthly<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n            <\/div>\r\n    \r\n            <div post_id=\"7204\" itemcount=\"5\"  header_id=\"header-1651602699791\" id=\"header-1651602699791\" style=\"\" class=\"accordions-head head1651602699791 border-none\" toggle-text=\"\" main-text=\"How would you summarize these differences to a plan member that is not versed in pension matters and generally a non-financial person?\">\r\n                                    <span id=\"accordion-icons-1651602699791\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fas fa-chevron-right\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1651602699791\" class=\"accordions-head-title\">How would you summarize these differences to a plan member that is not versed in pension matters and generally a non-financial person?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1651602699791 \">\r\n                <p style=\"text-align: justify\">In a DC plan, you as a plan member, have all the risk; if you use the account to purchase a Life Income Fund (LIF), you may run out of money or you may have lots left over when you die, which becomes part of your estate.<\/p>\n<p style=\"text-align: justify\">In a TB plan, the risk is pooled, so that if you die young, your funds are used to provide a pension to those plan members who live longer and vice-versa, and there are no funds available for your estate.<\/p>\n<p style=\"text-align: justify\">In other words, in a DC plan, what\u2019s yours is yours and in a TB plan what\u2019s yours is ours as everything is shared.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"7204\" itemcount=\"6\"  header_id=\"header-1651602700256\" id=\"header-1651602700256\" style=\"\" class=\"accordions-head head1651602700256 border-none\" toggle-text=\"\" main-text=\"How do these differences become advantages or disadvantages as outlined in the motion?\">\r\n                                    <span id=\"accordion-icons-1651602700256\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fas fa-chevron-right\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1651602700256\" class=\"accordions-head-title\">How do these differences become advantages or disadvantages as outlined in the motion?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1651602700256 \">\r\n                <p style=\"text-align: justify\">This is where it becomes subjective. What is an advantage to one member may be a disadvantage, or at least not a priority, to another member. A <strong>DC<\/strong> plan provides flexibility, especially since most provinces now allow a LIF to be fully unlocked, which means you can withdraw from the fund as much you wish, at any time, to be used as you see fit. This is good for members who may want to use their retirement savings to purchase a home or make home improvements, for travel and hobbies while young or delay using retirement savings for future care and health situations or who want to leave an estate for family or favorite charities. A <strong>TB<\/strong> plan provides a guaranteed income for life (with possible modifications), which is good for members who are healthy, not concerned about leaving an estate (or have other funds for leaving an estate), and have little interest in financial matters.<\/p>\n<p style=\"text-align: justify\">Therefore, while there are differences, these are not universally comparatively better or worse.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"7204\" itemcount=\"7\"  header_id=\"header-1651602912453\" id=\"header-1651602912453\" style=\"\" class=\"accordions-head head1651602912453 border-none\" toggle-text=\"\" main-text=\"Then what about the pension benefit amount? Does one plan design provide a greater pension payment over another?\">\r\n                                    <span id=\"accordion-icons-1651602912453\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fas fa-chevron-right\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1651602912453\" class=\"accordions-head-title\">Then what about the pension benefit amount? Does one plan design provide a greater pension payment over another?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1651602912453 \">\r\n                <p style=\"text-align: justify\">All pension plans are built on this basic principle:<\/p>\n<p style=\"text-align: justify\"><strong>contributions + investment income = annual lifetime pension amount<\/strong><\/p>\n<p style=\"text-align: justify\">This equation holds true for any pension plan, so any differences between pension amounts are due to risk decisions, constraints, and goals for each element. If the underlying assumptions in pension calculations (including using online calculators) are the same, then the projected amounts will be similar.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"7204\" itemcount=\"8\"  header_id=\"header-1651602913407\" id=\"header-1651602913407\" style=\"\" class=\"accordions-head head1651602913407 border-none\" toggle-text=\"\" main-text=\"Has GSI surveyed the market to determine what target benefit plan options might be available?\">\r\n                                    <span id=\"accordion-icons-1651602913407\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fas fa-chevron-right\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1651602913407\" class=\"accordions-head-title\">Has GSI surveyed the market to determine what target benefit plan options might be available?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1651602913407 \">\r\n                <p style=\"text-align: justify\">Yes, GSI engaged an Actuarial Consulting Firm to provide current market options with information and details on the aspects, design, and formulas of those plans. This list encompassed several plans, including DB<em>plus<\/em>\u00a0among others.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"7204\" itemcount=\"9\"  header_id=\"header-1651602913875\" id=\"header-1651602913875\" style=\"\" class=\"accordions-head head1651602913875 border-none\" toggle-text=\"\" main-text=\"Did GSI compare financial outcomes between various plans and the ELCIC Pension Plan and if so, what were the findings?\">\r\n                                    <span id=\"accordion-icons-1651602913875\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fas fa-chevron-right\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1651602913875\" class=\"accordions-head-title\">Did GSI compare financial outcomes between various plans and the ELCIC Pension Plan and if so, what were the findings?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1651602913875 \">\r\n                <p>Yes, the Actuarial Consulting Firm tested a sample of ELCIC members with different ages, earnings, and length of service to determine if there were significant differences between pension benefit amount outcomes. The comparison specifically was between the ELCIC Pension Plan converting to a Life Income Fund at age 65 to different target benefit plans with retirement at age 65. This exercise was repeated using an age 70 retirement as a significant portion of the plan members are over age 65.<\/p>\n<p style=\"text-align: justify\">The findings indicate that no one plan produced better financial results for<em> all<\/em> members. At age 65 most of the outcomes were fairly similar and at age 70 the ELCIC Pension Plan was the leader in all cases.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"7204\" itemcount=\"10\"  header_id=\"header-1651602914318\" id=\"header-1651602914318\" style=\"\" class=\"accordions-head head1651602914318 border-none\" toggle-text=\"\" main-text=\"Were there any other findings communicated from the Actuarial Consulting Firm that may be of interest?\">\r\n                                    <span id=\"accordion-icons-1651602914318\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fas fa-chevron-right\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1651602914318\" class=\"accordions-head-title\">Were there any other findings communicated from the Actuarial Consulting Firm that may be of interest?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1651602914318 \">\r\n                <p>Yes, they indicated that the ELCIC Pension Plan is well managed and provides a good pension for its members. They also advised that the ELCIC Pension Plan has a unique membership and demographic which may present significant challenges and transition complexities, all of which could be costly should a decision be made to join certain other plans. Examples of some of the challenges include but are not limited to: requirement to have a centralized payroll, no contributions allowed on taxable benefit amounts, and restrictions and\/or reductions in amount transferred in to purchase past service.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"7204\" itemcount=\"11\"  header_id=\"header-1651602914770\" id=\"header-1651602914770\" style=\"\" class=\"accordions-head head1651602914770 border-none\" toggle-text=\"\" main-text=\"What will GSI, as the ELCIC Pension Plan Sponsor, do going forward?\">\r\n                                    <span id=\"accordion-icons-1651602914770\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fas fa-chevron-right\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1651602914770\" class=\"accordions-head-title\">What will GSI, as the ELCIC Pension Plan Sponsor, do going forward?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1651602914770 \">\r\n                <p style=\"text-align: justify\">GSI will continue to consider what is in the best interest of plan members and congregations. GSI will monitor pension outcomes for its members as it reviews ongoing expenses and policy strategies. As always, market information, options, and opportunities will be part of the ongoing knowledge and education that GSI receives.<\/p>\n            <\/div>\r\n    <\/div>\r\n\r\n\r\n\r\n            <\/div>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; centered_text=&#8221;true&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; advanced_gradient_angle=&#8221;0&#8243; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; gradient_type=&#8221;default&#8221;][divider line_type=&#8221;Full Width Line&#8221; line_thickness=&#8221;1&#8243; divider_color=&#8221;default&#8221;][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; id=&#8221;investment&#8221; advanced_gradient_angle=&#8221;0&#8243; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_row_inner column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; text_align=&#8221;left&#8221; row_position=&#8221;default&#8221; row_position_tablet=&#8221;inherit&#8221; row_position_phone=&#8221;inherit&#8221; overflow=&#8221;visible&#8221; pointer_events=&#8221;all&#8221;][vc_column_inner column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][image_with_animation image_url=&#8221;7191&#8243; image_size=&#8221;full&#8221; animation_type=&#8221;entrance&#8221; animation=&#8221;Fade In&#8221; hover_animation=&#8221;none&#8221; alignment=&#8221;&#8221; border_radius=&#8221;none&#8221; box_shadow=&#8221;none&#8221; image_loading=&#8221;default&#8221; max_width=&#8221;100%&#8221; max_width_mobile=&#8221;default&#8221;][divider line_type=&#8221;No Line&#8221;][heading subtitle=&#8221;2022 Q1 Investment Commentary ELCIC Pension Plan&#8221;][\/heading][\/vc_column_inner][vc_column_inner column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text]\n<p style=\"text-align: center;\">There were several adverse factors influencing the investment markets in the first quarter of 2022. So, we are not surprised to see the disappointing results shown in this table. Most of us have likely noticed many of these influences in our everyday lives, including higher prices for fuel, difficulty getting goods and services, a lot of help wanted signs, and a housing boom. The events in Ukraine have given rise to a humanitarian crisis and a rippling effect on global economies. Inflation was also a major force as it climbed to the highest level in decades.<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"142\"><strong>ELCIC Pension Plan Investment Return<\/strong><\/p>\n<p><strong>Jan 1 to Mar 31, 2022<\/strong><\/td>\n<td width=\"152\"><strong>Median Balanced Pension Plan as a comparison<\/strong><\/p>\n<p><strong>Jan 1 to Mar 31, 2022<\/strong><\/td>\n<td width=\"96\"><strong>Excess return<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"142\">-5.8<\/td>\n<td width=\"152\">-3.9<\/td>\n<td width=\"96\">-1.9<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>*<em>Please note that information is not intended to be investment advice or to be a recommendation for your personal investment portfolio.<\/em>[\/vc_column_text][vc_column_text]\n<p style=\"text-align: left;\"><strong>Growth Fund<\/strong><\/p>\n<p style=\"text-align: left;\"><div id=\"accordions-7210\" class=\"accordions-7210 accordions\" data-accordions={&quot;lazyLoad&quot;:true,&quot;id&quot;:&quot;7210&quot;,&quot;event&quot;:&quot;click&quot;,&quot;collapsible&quot;:&quot;true&quot;,&quot;heightStyle&quot;:&quot;content&quot;,&quot;animateStyle&quot;:&quot;swing&quot;,&quot;animateDelay&quot;:1000,&quot;navigation&quot;:true,&quot;active&quot;:999,&quot;expandedOther&quot;:&quot;no&quot;}>\r\n                <div id=\"accordions-lazy-7210\" class=\"accordions-lazy\" accordionsId=\"7210\">\r\n                    <\/div>\r\n\r\n    <div class=\"items\"  style=\"display:none\" >\r\n    \r\n            <div post_id=\"7210\" itemcount=\"0\"  header_id=\"header-1651605517366\" id=\"header-1651605517366\" style=\"\" class=\"accordions-head head1651605517366 border-none\" toggle-text=\"\" main-text=\"RBC Global Equity Focus Pension Trust\">\r\n                                    <span id=\"accordion-icons-1651605517366\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fas fa-chevron-right\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1651605517366\" class=\"accordions-head-title\">RBC Global Equity Focus Pension Trust<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1651605517366 \">\r\n                <table>\n<tbody>\n<tr>\n<td width=\"142\"><strong>RBC Global Equity Investment Return<\/strong><\/p>\n<p><strong>Jan 1 to Mar 31, 2022<\/strong><\/td>\n<td width=\"152\"><strong>MSCI World ($CAD)<\/strong><\/p>\n<p><strong>as a comparison<\/strong><\/p>\n<p><strong>Jan 1 to Mar 31, 2022<\/strong><\/td>\n<td width=\"96\"><strong>Excess return<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"142\">-12.1%<\/td>\n<td width=\"152\">-6.1%<\/td>\n<td width=\"96\">-6.0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The investment manager admitted that the underperformance was mainly due to stock selection with their most highly rated stocks performing the worst and vice versa. The manager has made some changes and is confident they are now positioned to better withstand environments with the dynamics of this past quarter.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"7210\" itemcount=\"1\"  header_id=\"header-1651605518429\" id=\"header-1651605518429\" style=\"\" class=\"accordions-head head1651605518429 border-none\" toggle-text=\"\" main-text=\"Baillie Gifford Global Equity Fund\">\r\n                                    <span id=\"accordion-icons-1651605518429\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fas fa-chevron-right\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1651605518429\" class=\"accordions-head-title\">Baillie Gifford Global Equity Fund<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1651605518429 \">\r\n                <p>&nbsp;<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"162\"><strong>Baillie Gifford Global Equity Investment Return<\/strong><\/p>\n<p><strong>Jan 1 to Mar 31, 2022<\/strong><\/td>\n<td width=\"138\"><strong>MSCI World ($CAD)<\/strong><\/p>\n<p><strong>as a comparison<\/strong><\/p>\n<p><strong>Jan 1 to Mar 31, 2022<\/strong><\/td>\n<td width=\"90\"><strong>Excess return<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"162\">-16.0<\/td>\n<td width=\"138\">-6.1%<\/td>\n<td width=\"90\">-9.9<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Specific stock selection is a significant factor in the performance outcomes in an actively managed portfolio such as this Fund. Unfortunately, investment in a global technology firm facing some recent regulatory concerns, an e-commerce company that is causing investors to worry as they expand into new markets and a fall in value of a company that had excelled growth during the pandemic, all negatively affected the investment performance this quarter.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"7210\" itemcount=\"2\"  header_id=\"header-1651605701062\" id=\"header-1651605701062\" style=\"\" class=\"accordions-head head1651605701062 border-none\" toggle-text=\"\" main-text=\"PH&amp;N Canadian Equity Value Fund\">\r\n                                    <span id=\"accordion-icons-1651605701062\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fas fa-chevron-right\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1651605701062\" class=\"accordions-head-title\">PH&amp;N Canadian Equity Value Fund<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1651605701062 \">\r\n                <table>\n<tbody>\n<tr>\n<td width=\"162\"><strong>PH&N Canadian Equity Investment Return<\/strong><\/p>\n<p><strong>Jan 1 to Mar 31, 2022<\/strong><\/td>\n<td width=\"138\"><strong>S&P\/TSX Capped<\/strong><\/p>\n<p><strong>as a comparison<\/strong><\/p>\n<p><strong>Jan 1 to Mar 31, 2022<\/strong><\/td>\n<td width=\"90\"><strong>Excess return<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"162\">+6.3%<\/td>\n<td width=\"138\">+3.8%<\/td>\n<td width=\"90\">+2.5<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The manager reported that the Canadian equity market was volatile, like most equity markets this past quarter. While this was particularly challenging, the general positioning and specific stock selections added to performance.<\/p>\n            <\/div>\r\n    <\/div>\r\n\r\n\r\n\r\n            <\/div>\n[\/vc_column_text][divider line_type=&#8221;No Line&#8221;][vc_column_text]\n<p style=\"text-align: left;\"><strong>Fixed Income<\/strong><\/p>\n<p style=\"text-align: left;\"><div id=\"accordions-7212\" class=\"accordions-7212 accordions\" data-accordions={&quot;lazyLoad&quot;:true,&quot;id&quot;:&quot;7212&quot;,&quot;event&quot;:&quot;click&quot;,&quot;collapsible&quot;:&quot;true&quot;,&quot;heightStyle&quot;:&quot;content&quot;,&quot;animateStyle&quot;:&quot;swing&quot;,&quot;animateDelay&quot;:1000,&quot;navigation&quot;:true,&quot;active&quot;:999,&quot;expandedOther&quot;:&quot;no&quot;}>\r\n                <div id=\"accordions-lazy-7212\" class=\"accordions-lazy\" accordionsId=\"7212\">\r\n                    <\/div>\r\n\r\n    <div class=\"items\"  style=\"display:none\" >\r\n    \r\n            <div post_id=\"7212\" itemcount=\"0\"  header_id=\"header-1651606314810\" id=\"header-1651606314810\" style=\"\" class=\"accordions-head head1651606314810 border-none\" toggle-text=\"\" main-text=\"PH&amp;N Core Plus Bond Fund\">\r\n                                    <span id=\"accordion-icons-1651606314810\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fas fa-chevron-right\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1651606314810\" class=\"accordions-head-title\">PH&amp;N Core Plus Bond Fund<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1651606314810 \">\r\n                <p>\u00a0<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"162\"><strong>PH&N Core Plus Bond Fund Investment Return<\/strong><\/p>\n<p><strong>Jan 1 to Mar 31, 2022<\/strong><\/td>\n<td width=\"138\"><strong>FTSE Canada Universe Bond as a comparison<\/strong><\/p>\n<p><strong>Jan 1 to Mar 31, 2022<\/strong><\/td>\n<td width=\"90\"><strong>Excess return<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"162\">-6.7%<\/td>\n<td width=\"138\">-7.0%<\/td>\n<td width=\"90\">+0.3<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><a href=\"https:\/\/dev.elcicgsi.ca\/wp-content\/uploads\/2022\/05\/Picture1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-7239 alignleft\" src=\"https:\/\/dev.elcicgsi.ca\/wp-content\/uploads\/2022\/05\/Picture1.png\" alt=\"\" width=\"231\" height=\"248\" \/><\/a><\/p>\n<p>The manager cited that continuous strategic positioning including anticipation of interest rate movements was instrumental in creating the excess return.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"7212\" itemcount=\"1\"  header_id=\"header-1651606373294\" id=\"header-1651606373294\" style=\"\" class=\"accordions-head head1651606373294 border-none\" toggle-text=\"\" main-text=\"PH&amp;N Mortgage Pension Trust\">\r\n                                    <span id=\"accordion-icons-1651606373294\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fas fa-chevron-right\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1651606373294\" class=\"accordions-head-title\">PH&amp;N Mortgage Pension Trust<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1651606373294 \">\r\n                <table>\n<tbody>\n<tr>\n<td width=\"162\"><strong>PH&N Mortgage Pension Trust Investment Return<\/strong><\/p>\n<p><strong>Jan 1 to Mar 31, 2022<\/strong><\/td>\n<td width=\"138\"><strong>FTSE Canada<\/strong><\/p>\n<p><strong>Short-term Bond \u00a0<\/strong><strong>as a comparison<\/strong><\/p>\n<p><strong>Jan 1 to Mar 31, 2022<\/strong><\/td>\n<td width=\"90\"><strong>Excess return<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"162\">-2.9%<\/td>\n<td width=\"138\">-3.0%<\/td>\n<td width=\"90\">+0.1<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>This portfolio of first rank mortgages saw continuing strong growth in the commercial real estate investment activity. While 2021 was a record year for new mortgages with the fund, the first quarter of 2022 saw that growth continuing but with higher competition. Currently, many organizations are evaluating their return-to-work policies and determining their space needs, however, the manager continues to gain confidence in office lending with the current return trends.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"7212\" itemcount=\"2\"  header_id=\"header-1651606494911\" id=\"header-1651606494911\" style=\"\" class=\"accordions-head head1651606494911 border-none\" toggle-text=\"\" main-text=\"PH&amp;N High Yield Mortgage Fund\">\r\n                                    <span id=\"accordion-icons-1651606494911\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fas fa-chevron-up\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fas fa-chevron-right\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1651606494911\" class=\"accordions-head-title\">PH&amp;N High Yield Mortgage Fund<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1651606494911 \">\r\n                <table>\n<tbody>\n<tr>\n<td width=\"162\"><strong>PH&N High Yield Mortgage Investment Return<\/strong><\/p>\n<p><strong>Jan 1 to Mar 31, 2022<\/strong><\/td>\n<td width=\"138\"><strong>FTSE Canada<\/strong><\/p>\n<p><strong>Short-term Bond\u00a0<\/strong><\/p>\n<p><strong>as a comparison<\/strong><\/p>\n<p><strong>Jan 1 to Mar 31, 2022<\/strong><\/td>\n<td width=\"90\"><strong>Excess return<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"162\">.8%<\/td>\n<td width=\"138\">-3.0%<\/td>\n<td width=\"90\">+3.8<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n            <\/div>\r\n    <\/div>\r\n\r\n\r\n\r\n            <\/div>\n[\/vc_column_text][divider line_type=&#8221;No Line&#8221;][divider line_type=&#8221;Full Width Line&#8221; line_thickness=&#8221;1&#8243; divider_color=&#8221;default&#8221;][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; id=&#8221;incase&#8221; advanced_gradient_angle=&#8221;0&#8243; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_row_inner column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; text_align=&#8221;left&#8221; row_position=&#8221;default&#8221; row_position_tablet=&#8221;inherit&#8221; row_position_phone=&#8221;inherit&#8221; overflow=&#8221;visible&#8221; pointer_events=&#8221;all&#8221;][vc_column_inner column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][image_with_animation image_url=&#8221;7265&#8243; image_size=&#8221;full&#8221; animation_type=&#8221;entrance&#8221; animation=&#8221;Fade In&#8221; hover_animation=&#8221;none&#8221; alignment=&#8221;&#8221; border_radius=&#8221;none&#8221; box_shadow=&#8221;none&#8221; image_loading=&#8221;default&#8221; max_width=&#8221;100%&#8221; max_width_mobile=&#8221;default&#8221;][heading subtitle=&#8221;In case you missed this&#8230;&#8221;][\/heading][vc_column_text]Twenty years ago, the need to provide members with timely and relevant information on changes and reminders to the Plans grew, and the \u201cwhat\u2019s News at GSI\u201d newsletter was born. Since then, GSI has been consistently evolving and focusing on integrating financial wellness wherever possible. This Pension issue marks the first under the new name, \u201cYour Plan Notes.\u201d GSI chose this name to signify that the newsletter is about you, the plan member, learning about your Pension Plans, and creating plans for your retirement.[\/vc_column_text][divider line_type=&#8221;Full Width Line&#8221; line_thickness=&#8221;1&#8243; divider_color=&#8221;default&#8221;][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; id=&#8221;languishing&#8221; advanced_gradient_angle=&#8221;0&#8243; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_row_inner column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; text_align=&#8221;left&#8221; row_position=&#8221;default&#8221; row_position_tablet=&#8221;inherit&#8221; row_position_phone=&#8221;inherit&#8221; overflow=&#8221;visible&#8221; pointer_events=&#8221;all&#8221;][vc_column_inner column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][image_with_animation image_url=&#8221;7192&#8243; image_size=&#8221;full&#8221; animation_type=&#8221;entrance&#8221; animation=&#8221;Fade In&#8221; hover_animation=&#8221;none&#8221; alignment=&#8221;&#8221; border_radius=&#8221;none&#8221; box_shadow=&#8221;none&#8221; image_loading=&#8221;default&#8221; max_width=&#8221;100%&#8221; max_width_mobile=&#8221;default&#8221;][divider line_type=&#8221;No Line&#8221;][heading subtitle=&#8221;You may have heard about a phenomenon called languishing\u2014an aimless, joyless state somewhere between depression and flourishing.&#8221;][\/heading][\/vc_column_inner][\/vc_row_inner][vc_row_inner column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; text_align=&#8221;left&#8221; row_position=&#8221;default&#8221; row_position_tablet=&#8221;inherit&#8221; row_position_phone=&#8221;inherit&#8221; overflow=&#8221;visible&#8221; pointer_events=&#8221;all&#8221;][vc_column_inner column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text]A <a href=\"https:\/\/www.nytimes.com\/2021\/04\/19\/well\/mind\/covid-mental-health-languishing.html\">New York Times article<\/a>\u00a0in April 2021 helped start a trend of discussion around languishing, describing it as a \u201csense of stagnation and emptiness\u201d that many people seemed to be experiencing as part of the \u201cemotional long-haul\u201d of the COVID-19 pandemic.<\/p>\n<p>But is languishing a real health condition? How might it appear in your life, or in the life of a loved one? And if it does, what can you do about it?[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; centered_text=&#8221;true&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; advanced_gradient_angle=&#8221;0&#8243; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; gradient_type=&#8221;default&#8221;][nectar_btn size=&#8221;small&#8221; open_new_tab=&#8221;true&#8221; button_style=&#8221;regular&#8221; button_color_2=&#8221;Accent-Color&#8221; icon_family=&#8221;none&#8221; text=&#8221;Learn More&#8221; url=&#8221;https:\/\/wellbeing.lifeworks.com\/ca\/newsletter-content\/languishing-what-it-means-and-why-you-might-be-struggling-with-it\/&#8221;][divider line_type=&#8221;Full Width Line&#8221; line_thickness=&#8221;1&#8243; divider_color=&#8221;default&#8221;][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; id=&#8221;questions&#8221; advanced_gradient_angle=&#8221;0&#8243; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; centered_text=&#8221;true&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; advanced_gradient_angle=&#8221;0&#8243; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; gradient_type=&#8221;default&#8221;][heading subtitle=&#8221;Have a question for GSI?&#8221;][\/heading][vc_column_text]\n<div style=\"text-align: center;\">If you have a question for GSI, please reach out. Information and resources can also be found on the GSI website.<\/div>\n<div style=\"text-align: center;\">GSI Website:\u00a0 <a href=\"https:\/\/dev.elcicgsi.ca\/\">elcicgsi.ca<\/a><br \/>\nWinnipeg Residents: 204-984-9181<br \/>\nToll Free: 1-877-352-4247<\/div>\n[\/vc_column_text][divider line_type=&#8221;No Line&#8221;][nectar_btn size=&#8221;small&#8221; open_new_tab=&#8221;true&#8221; button_style=&#8221;regular&#8221; button_color_2=&#8221;Accent-Color&#8221; icon_family=&#8221;none&#8221; text=&#8221;Email Us&#8221; url=&#8221;mailto:admin@elcicgsi.ca&#8221;][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"<p>[vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; id=&#8221;Mental Health&#8221; advanced_gradient_angle=&#8221;0&#8243; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_spacing=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221;&#8230;<\/p>\n","protected":false},"author":8,"featured_media":10967,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[34],"post_folder":[18,20],"class_list":{"0":"post-7190","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-planmembers","8":"tag-pension"},"featured_image_src":"https:\/\/dev.elcicgsi.ca\/wp-content\/uploads\/2024\/10\/Pension-News.jpeg?ver=1727747854","author_info":{"display_name":"Lisa Thiessen","author_link":"https:\/\/dev.elcicgsi.ca\/?author=8"},"_links":{"self":[{"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=\/wp\/v2\/posts\/7190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7190"}],"version-history":[{"count":0,"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=\/wp\/v2\/posts\/7190\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=\/wp\/v2\/media\/10967"}],"wp:attachment":[{"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7190"},{"taxonomy":"post_folder","embeddable":true,"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fpost_folder&post=7190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}