Agenda Package: Executive Committee - December 4, 2019

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Simcoe Hall, 27 King’s College Circle, Governing Council Chamber 2nd Floor Rm 214

AGENDA

Pursuant to section 28 (e) and 38 of By-Law Number 2,
consideration of items 14 to 19 will take place in camera.


Closed Session

  1. Chair’s Remarks
  2. Report of the President
  1. Items for Endorsement and Forwarding to the Governing Council
    1. Proposed Revisions: Policy on Sexual Violence and Sexual Harassment*
      (Arising from Report Number 214 of the University Affairs Board (November 13, 2019))

      Be It Resolved

      THAT the following recommendation be endorsed and forwarded to the Governing Council

      THAT the proposed revisions to the Policy on Sexual Violence and Sexual Harassment, dated October 29, 2019, be approved, effective January 1, 2020.
    2. Proposed Revisions: Code of Student Conduct*
      (Arising from Report Number 214 of the University Affairs Board (November 13, 2019))

      Be It Resolved

      THAT the following recommendation be endorsed and forwarded to the Governing Council

      THAT the proposed revisions to the Code of Student Conduct, dated October 31, 2019 be approved, effective December 13, 2019.
    3. Closure and Conversion of the University of Toronto Pension Plan [“the current UofT Pension Plan”]; and Proposal for the Establishment of the University Pension Plan Ontario [“the UPP”]*

      Be It Resolved

      THAT the following recommendation be endorsed and forwarded to the Governing Council

      THAT the University of Toronto Pension Plan (Registration No. 0312827; the “current UofT Pension Plan”) be amended such that, effective from the Conversion Date (defined below), it is closed to new Members and all existing Members of the current UofT Pension Plan shall cease to accrue benefits under the current UofT Pension Plan;

      THAT the University of Toronto confirms its support for the establishment of the University Pension Plan Ontario (registration pending; the “UPP”) in accordance with the Milestones and Key Terms Summary Agreement regarding the University Sector Jointly Sponsored Pension Plan dated February 27, 2018, as amended (the “Milestones Agreement”);

      THAT, effective January 1, 2020, the University of Toronto shall participate in the “Employer Sponsor” of the UPP, which, together with the “Employee Sponsor” of the UPP (collectively, the “Joint Sponsors”), will establish the UPP, enter into plan documents (including, but not limited to, a Sponsors’ Agreement, plan text, Trust Agreement and Funding Agreement), and appoint a Board of Trustees to administrate the UPP, all in accordance with the Milestones Agreement (including, without limitation, the confidentiality obligations set out in same);

      THAT the University of Toronto shall make application to the relevant governmental authorities for approval to transfer the assets and liabilities of the current UofT Pension Plan to the UPP as at July 1, 2021 (with July 1, 2021 or, if later, the effective date of such governmental authorities’ approval) being referred to herein as the “Conversion Date”;

      THAT, effective from January 1, 2020 on a contingent basis, and from the Conversion Date, upon satisfying the applicable eligibility conditions, eligible University of Toronto staff shall participate in, and accrue benefits under, the UPP, pursuant to the terms of the UPP text established by the Joint Sponsors, as such UPP text may be amended by the Joint Sponsors from time to time;

      THAT the University of Toronto is authorized to enter into a participation agreement with the UPP Board of Trustees (which participation agreement shall have been approved by the Joint Sponsors) providing for the University of Toronto’s participation in the UPP in respect of its eligible staff;

      THAT the University of Toronto shall, as required by the Milestones Agreement, fund through fixed annual payments for 15 years, any deficit on pre-Conversion Date service under the current UofT Pension Plan existing on the Conversion Date, regardless of any subsequent gains or losses on such deficit, such deficit being calculated using the actuarial assumptions adopted to value the benefits earned under the UPP and shall thereafter fund any losses arising after the Conversion Date related to pre-Conversion Date service as required by the Milestones Agreement;

      THAT, as soon as practicable after the Conversion Date, upon the assets and liabilities of the current UofT Pension Plan having been transferred to and assumed by the UPP, the University of Toronto shall (as sponsor of the current UofT Pension Plan) take the steps necessary or desirable, if any, to confirm the termination of the registration of the current UofT Pension Plan with the applicable governmental authorities as a result of its conversion and merger into the UPP;

      THAT, with a view to the orderly transfer of the assets and liabilities of the current UofT Pension Plan to the UPP, and the proper administration by the UPP Board of Trustees of contributions to and benefits under the UPP, the University of Toronto may, subject to the requirements of such agreements, and conditional upon terms and conditions satisfactory to the University of Toronto, assign to the UPP Board of Trustees (or a related entity), in whole or in part, the rights and obligations of the University of Toronto pursuant to any agreement under which the University of Toronto receives services as administrator of the current UofT Pension Plan (the “Pension Administration Service Agreements”), including, without limiting the generality of the foregoing:
  • The Amended and Restated Master Trust Agreement between The Governing Council of the University of Toronto and State Street Trust Company of Canada dated December 1, 2000;
  • The Amended and Restated Pension Trust Agreement between The Governing Council of the University of Toronto and State Street Trust Company of Canada dated December 1, 2000;
  • The service agreement between the University and the third party pension plan administrator (Alight Solutions); and

THAT, with a view to the orderly transfer of the assets and liabilities of the current UofT Pension Plan to the UPP, and the prudent investment by the UPP Board of Trustees of the assets transferred from the current UofT Pension Plan to the UPP, the University of Toronto may, subject to the requirements of such agreements, and conditional upon terms and conditions satisfactory to the University of Toronto and the University of Toronto Asset Management Corporation (“UTAM”), assign to the UPP Board of Trustees (or a related entity), in whole or in part, the rights and obligations of the University of Toronto (including UTAM) pursuant to any agreement under which the University of Toronto (or UTAM) receives services as administrator of the current UofT Pension Plan (or, in the case of UTAM, on behalf of the administrator) (the “Pension Investment Service Agreements”), including, without limiting the generality of the foregoing:

  • Investment management agreements between UTAM and third party asset managers; and
  • any other investment services agreements entered into by UTAM;

THAT, with a view to the orderly transfer of the assets and liabilities of the current UofT Pension Plan to the UPP, the proper administration by the UPP Board of Trustees of contributions to and benefits under the UPP, and/or the prudent investment by the UPP Board of Trustees of the assets transferred from the current UofT Pension Plan to the UPP, the University of Toronto (including UTAM) may, on an interim basis and pursuant to terms and conditions satisfactory to the University of Toronto and/or UTAM, as applicable, provide services to the UPP as agent of the UPP Board of Trustees (in its capacity as administrator of the UPP) and, in so doing, the University of Toronto (including UTAM) may as agent of the UPP Board of Trustees engage third party service providers (including one or more of the service providers under the Pension Administration Service Agreements or the Pension Investment Service Agreements);

THAT, subject to assignment by the University of Toronto (including UTAM) of its rights and obligations under a Pension Administration Service Agreement or Pension Investment Service Agreement to the UPP Board of Trustees (or a related entity), and the assumption of such rights and obligations by the UPP Board of Trustees (or a related entity), the University of Toronto shall, in connection with the conversion and merger of the current UofT Pension Plan into the UPP and following an anticipated period of transition, terminate such Agreements when the relevant services are no longer necessary or desirable;

THAT, if any of the conditions upon which the establishment of the UPP is conditional are not satisfied as required under the terms of the Milestones Agreement (as the same may be amended or superseded), then the University of Toronto shall (both directly, on its own behalf, and through its representatives on the Employer Sponsor Committee) suspend all action being taken in furtherance of the foregoing resolutions, and shall instead take such steps as are necessary or desirable to unwind any action already taken in furtherance of the foregoing resolutions (including, as necessary, withdrawal of the University’s application to the relevant governmental authorities for approval to transfer the assets and liabilities of the current UofT Pension Plan to the UPP as at the Conversion Date, and termination of the UPP);

AND THAT the proper officers of the University of Toronto are authorized and directed to do all things, including completing all necessary regulatory filings and approving or executing all documents, as may be necessary to give effect to the foregoing resolutions and to carry out their intent that such officers may, upon the advice of the University’s counsel, deem appropriate or necessary.

  1. Update on the Budget Model Review (for information)

CONSENT AGENDA**

  1. Items for Confirmation by the Executive Committee
    1. Capital Project: Report of the Project Planning Committee for 700 University, 17th floor: Fit-out for the Faculty of Arts & Science -Interim Space Needs*
      (Arising from Report Number 224 of the Academic Board (November 21, 2019))

      Be It Confirmed by the Executive Committee

      THAT the Report of the Project Planning Committee for 700 University: Fit-out for the Faculty of Arts & Science Interim Space Needs, dated October 2, 2019, be approved in principle; and,

      THAT the project totaling 5,238 rentable square metres (sm), be approved in principle, to be funded by the Faculty of Arts and Science Divisional Reserves.
    2. Constitutional Amendments: Ontario Institute for Studies in Education*
      (Arising from Report Number 224 of the Academic Board (November 21, 2019))

      Be It Confirmed by the Executive Committee

      THAT the proposed amended Constitution of the Ontario Institute for Studies in Education Council, which was recommended for approval by the Council on October 30, 2019 be approved, effective July 1, 2020.
    3. Name Change of Academic Unit – Change in the Name of the Faculty of Medicine’s Department of Anesthesia to the Department of Anesthesiology and Pain Medicine*
      (Arising from Report Number 224 of the Academic Board (November 21, 2019))

      Be It Confirmed by the Executive Committee

      THAT the name of the Department of Anesthesia be changed to the Department of Anesthesiology and Pain Medicine, effective January 1, 2020.
  2. Report of the Previous Meeting of the Executive Committee* (for approval)

    Report Number 507 (October 15, 2019)
  1. Business Arising from the Report of the Previous Meeting
  1. Minutes of the Governing Council Meeting – October 24, 2019* (for information)
  1. Business Arising from the Minutes of the Governing Council Meeting
  1. Reports for Information
    1. Report on the Reviews of Academic Programs and Units – Part 1*
      1. Semi-Annual Report: April 2019 – October 2019*
      2. Follow up Reports from Previous Reviews:
        1. Department of Arts, Culture and Media (University of Toronto Scarborough)
        2. Forensic Science Program (University of Toronto Mississauga)
        3. Department of Ecology and Evolutionary Biology (Faculty of Arts &Science)
        4. Department of Chemistry; Pharmaceutical Chemistry Program (Faculty of Arts and Science)
        5. Department of Spanish and Portuguese; Latin American Studies Program (Faculty of Arts & Science)
    2. Report Number 38 of the University of Toronto Scarborough Campus Council (November 19, 2019)*
    3. Report Number 38 of the University of Toronto Mississauga Campus Council (November 20, 2019)*
    4. Report Number 85 if the Elections Committee (October 17, 2019)*
    5. Report Number 214 of the University Affairs Board (November 13, 2019)*
    6. Report Number 224 of the Academic Board (November 21, 2019)*
    7. Report Number 249 of the Business Board (November 27, 2019)*
  1. Governing Council and Executive Committee Meeting Dates, 2020-21* (for approval)
  1. Date of Next Meeting – Wednesday, February 12, 2019 from 5:00 to 7:00 p.m.
  1. Other Business
    1. Governing Council meeting

IN CAMERA SESSION

  1. Item for Information
    1. Decision of a Judicial Board+
  1. Items for Approval
    1. Code of Behaviour on Academic Matters: Recommendations for Expulsion+
    2. External Appointment: Banting Research Foundation – Board of Trustee+
    3. External Appointment: McLaughlin Centre Oversight Committee+
  1. Item for Confirmation
    1. Capital Project: Report of the Project Planning Committee for 700 University, 17th floor: Fit-out for the Faculty of Arts & Science-Interim Space Needs – Total Project Cost and Sources of Funding+
      (Arising from Report Number 224 of the Academic Board (November 21, 2019); and Report Number 249 of the Business Board (November 27, 2019))
  1. Item for Endorsement and Forwarding to the Governing Council
    1. Report Number 64 of the Committee for Honorary Degrees +

      Be it Resolved

      THAT the following recommendations be endorsed and forwarded to the Governing Council:

      THAT the recommendations contained in Report Number 64 of the Committee for Honorary Degrees be approved; and

      THAT the Chancellor and the President be empowered to determine the degree to be conferred on each candidate and the date of the conferral.

      Be It Resolved

      THAT, pursuant to sections 38 and 40 of By-Law Number 2, the Governing Council consider the recommendation in camera.

  1. Committee Members with the President
  1. Committee Members alone

* Documentation is attached.
** Documentation for consent item included. This item will be given individual consideration by the Committee only if a member so requests. Members with questions or who would like the consent item to be discussed by the Committee are invited to notify the Secretary, Mr. Anwar Kazimi, at least 24 hours in advance of the meeting by telephone at 416-978-8427 or by email at
anwar.kazimi@utoronto.ca
*** Documentation is to follow
+ Confidential documentation is attached for members only.