OE News Special Edition June 2014

Message from the TrusteesPreparing for a challenging year aheadBrian CochraneTrustee/ChairmanWayne KempBrad RandallTrustee/SecretaryFrank CarrBrian LefebvreBrian SavageSince the last report to members of the OperatingEngineers’ Benefits and Pension PlansTrustee Tim Cullen has retired. We thank Timfor his continued commitment and dedicationover the past years. Wayne Kemp has beenappointed to fill the position left by BrotherCullen. Welcome Brother Kemp.This past year there have been 6 meetings ofthe Pension Plan trustees and 3 meetings of theBenefits Plan trustees. In addition, the Trusteesattended several educational presentationsregarding plan governance, the economy andinvestment strategy.A great deal of time was devoted to monitoringthe performance of the Pension Plan investmentsand considering whether any changes tothe overall investment policy were necessary.At this time the Trustees aresatisfied that the investment For the time being theportfolio is performing well Trustees are satisfied that theand that no major changes are investment portfolio isrequired. Looking ahead, the performing well and that noTrustees will continue to reviewmajor changes are required.the investment strategy andconsider whether a shift in strategy is required,especially if we continue to see prolonged periodsof low interest rates.The Trustees are also satisfied with theinvestment returns of the Benefits Plan trustfund.During the year, the Benefits Plan claimsincreased by 22% due largely to several benefitimprovements including long term disability,group life and the Pacific Blue Cross drug cardintroduced at the beginning of the year.The Trustees are preparing for a challengingyear ahead and are committed to working hardto continue to do the very best we can for ourmembers.Don SwerdanSpecial Edition Fall 2014 News 3