NETSPAR MANAGEMENT STRUCTURE. December 2014

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NETSPAR MANAGEMENT STRUCTURE

December 2014

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INTRODUCTION

• Netspar started operations in 2005

• The Netspar Foundation was established in 2012

• The Netspar Center was founded within Tilburg University around the same time

• Since then, various forums and management settings have reached a more definitive form

• This document describes the relation between the Foundation and Netspar Center and gives an overview of the Netspar management structure, and its current members.

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ORGANIZATION OVERVIEW

Netspar Foundation Executive Board of TiU Foundation Board Board Netspar Foundation Netspar Center Supervisory Board Tilburg University appoints appoints

Member Executive Board = Member Supervisory Board

Same director agreement

Approves budget plan

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FOUNDATION BOARD

Members

• Frank den Butter, VU Amsterdam

• Paul Hilbers, DNB

• Heiko Hoogendijk, AEGON

• Ruud Koning, RUG

• Harman Korte, AFM

• Tjerk Kroes, APG

• Paul Loven, PGGM

• Stefan Lundbergh, Cardano • Lex Meijdam, TiU

• Franz Palm, UM

• Hans Rademaker, Robeco

• Fleur Rieter, a.s.r.

• Bart Boon, Achmea

• Michel Vellekoop, UvA

• Nicoly Vermeulen, SVB

• Ton van Welie, Ortec Finance

• Sjoerd van der Zee, Nationale Nederlanden

Description / assignment

• All Netspar partners are represented

• Ministry of Social Affairs is auditor at Foundation Board meetings (without voting rights) • Appoints Supervisory Board

• Advises (non-) requestedly to bodies of the Foundation

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SUPERVISORY BOARD

Chair

Jean Frijns (Netspar fellow)

Members

Else Bos (PGGM), Jeroen van Breda Vriesman (Achmea), Gijs van Dijk (Stichting van de Arbeid/FNV), Han van Dissel (VU Amsterdam), Philip Eijlander (TiU), Marco Keim (AEGON), Cees Oudshoorn (Stichting van de Arbeid/VNO-NCW), Dick Sluimers (APG), Job Swank (DNB)

• Appointed by the Foundation Board

• Supervises the Board’s policy and general affairs regarding the Foundation

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BOARD

Formation

Casper van Ewijk, also director of Netspar Center

Description / assignment

• Governs the Foundation

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BOARD OF DIRECTORS

NETSPAR CENTER

• Casper van Ewijk, general director

• Theo Nijman, scientific director

• Peter Gaillard, managing director

Description / assignment Netspar Center

• Netspar Center is the operational unit which executes Netspar Foundation’s policy as commissioned by the Supervisory Board

• Netspar Center is part of Tilburg University. The Netspar Foundation has a formal agreement with TiU which stipulates that TiU maintains a unit to realize the Netspar Foundation’s goals

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PARTNER RESEARCH COUNCIL (PRC)

Chair

Niels Kortleve (PGGM)

Members

Rob Alessie (RUG), Arthur Arbouw (ASR), Frits Bart (AEGON), Roel Beetsma (UvA), Jaap Bikker (DNB), Benedict Dellaert (EUR), Kees Goudswaard (Leiden), Daniel Haesen (Robeco), Corjo Jansen (RU), Lennart Janssens (SZW), Bert Jonker (Achmea), Adriaan Kalwij (UU), Leendert Klokkenburg (Min. EZ), Tjerk Kroes (APG), Charlotte Kuiper (AFM), Maarten Lindeboom (VU

Amsterdam), Stefan Lundbergh (Cardano), Annemarie Mijer-Nienhuis (NN), Robert Olieman (SVB), Arno Riedl (UM), Martijn Vos (Ortec Finance), Frank de Jong (TiU), Mathijs Gerritsen (MinFin)

• All partners and candidate-partners are represented in the PRC

• Advises (non-) requestedly the Board of Directors about research programs, educational affairs and about knowledge exchange with the pension, insurance industry and universities in particular

• Pensioenfederatie and Verbond van Verzekeraars can be present at meetings of the PRC (without voting rights)

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PARTNER EDUCATION COUNCIL (PEC)

Chair

Stijn van Schijndel (NN)

Members

Luc Alders (ASR), Dennis Bams (UM), Hans Bloemen (VU Amsterdam), Dirk Broeders (DNB), Leonore Stollwerk (APG), Erik Goris (PGGM), Corjo Jansen (RU), Bert Jonker (Achmea), Herman Kappelle (AEGON), Roderick Molenaar (Robeco), Jens van Egmond (Cardano), Berend Roorda (UT), Alfred Slager (TiU), Laura Spierdijk (RUG), Michel Vellekoop (UvA), Blanca Wennekes (Ortec Finance)

• All partners and candidate-partners are represented in the PEC

• Advises the Board of Directors (non-) requestedly on educational affairs, and on knowledge exchange with the pension and insurance industry and with universities

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PIL COORDINATORS

Pension Innovation Labs (PIL)

PIL 1 Risk management during working life Vacancy (Theo Nijman (TiU) a.i.) PIL 2 Risk management during retirement years Bas Werker (TiU)

PIL 3 The art of choosing Arthur van Soest (TiU)

PIL 4 Supervision of fully funded pensions: solvency and transparency

Vacancy (Theo Nijman (TiU) a.i.) PIL 5 Risk sharing and distribution among generations: full funding,

pay-as-you-go, taxation

Lans Bovenberg (TiU)

PIL 6 The labor market Ton Wilthagen (TiU)

PIL 7 Heterogeneity within generations and the position of senior citizens

Arthur van Soest (TiU)

• Advise the Board of Directors and in particular the Scientific Director (non-) requestedly on a.o. fellowships, waivers and the Netspar scientific program

• Monitor projects within their Pension Innovation Lab

• Stimulate knowledge exchange

• Monika Bütler (University of St. Gallen) advises the Board of Directors, is involved in the organization of the International Pension Workshops and the Pension Day. Moreover she is editor for the Journal of Pension Economics and Finance representing Netspar.

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SCIENTIFIC COUNCIL

Members

• David Blake (City University London)

• Richard Blundell (University College London)

• Zvi Bodie (Boston University)

• Tito Boeri (University of Bocconi)

• Paul Embrechts (ETH-Zentrum)

• Dan Goldstein (Microsoft Research)

• Christian Gollier (University of Toulouse)

• Martin Kohli (European University Institute)

• Olivia Mitchell (University of Pennsylvania)

• Merril Silverstein (Syracuse University)

• Luis Viceira (Harvard University)

• Consists of renowned foreign researchers

• Advises the Board of Directors on the educational and research program of Netspar, and on the selection of submitted research proposals for Medium and Large Vision Projects

NETSPAR MANAGEMENT STRUCTURE. December 2014