Pension Plan Notice

July 6th 2015

Regarding the Disability part of our Pension Plan … The fights the Union takes on are never ending:

Did you know:

1) To my understanding the Winnipeg School Division Pension Plan was set up with the disability part of our plan attached to and or being part of the pension plan.

2) Also to my understanding the pension plan already had safe guards put in place regarding the plan’s ability to support employees of the Division. Such as, the motion passed years back by Mario Santos regarding the Division being responsible for all short falls of our plan. As well,  I understand that the committee has the power to recommend changes to the plan however I believe such changes would have to be agreeable to all parties concerned.

I would find it almost impossible to believe that even if investment returns were not as rich as they have been in the past that there would be any support from either the committee members or the Board of Trustees regarding any type of changes to the plan that could negatively effect our members.  i.e. changing to a money purchase plan or support for any type of negative benefit changes.

3) As far as I know there are no such pension regulations that force any type of plan changes such as have been implemented.

Regarding the minutes of the meeting held on June 13th 2012

4) Although I did not know Barbra Hogan, I understand now that she was an employee of the Division. I also understand now that she informed the committee of her opinions but I don’t know if she was also privy to the information from points 1, 2, and 3 above.

5) No where does it show in this meeting any motion to separate the plan’s structure to read disability benefits as not part of the regular pension plan.

6) This meeting shows committee members were informed of the way things are. However, I do not believe any of the members sitting in committee were made aware of Points 1, 2, and 3 above, as well the minutes do not show there was voting on the issue.

7) Finally: The minutes of this meeting were not signed by either the Chair or the Secretary.

 

Sincerely

 

Terry Egan President 110