Queen's Pension Plan Meeting
I am writing to invite you to a meeting on the future of the Queen’s Pension Plan on June 19th at 10am, Ellis Hall Auditorium.
The university is seeking ways to make the plan financially sustainable, but first let me assure you of two things:
- Changes to the plan will not reduce the benefits that active members have already earned.
- The pensions of current retirees will never be reduced.
As you may be aware, the administration has held several meetings with the union representatives of our employee groups to discuss how best to respond to the government’s options regarding a permanent solvency exemption for the Plan. This is a major challenge because the current relief from having to make special solvency payments is temporary and expires in 2015. The unions representing Queen’s employees have decided this discussion could only continue in the context of collective bargaining, and we respect that decision.
The administration now wishes to meet with the groups of employees who are not represented by our unions (managerial, grades 2-9 excluded/confidential employees, bargaining unit excluded academic administrators, and research, grant and contract staff) to share the same information with you. The session is scheduled for June 19th at 10am in Ellis Hall Auditorium, and will include the same presentations made at the multi-employee group table, including one from Derek Dobson who is the CEO of the Ontario colleges’ pension plan (CAAT).
Following the meeting, the Human Resources website will provide access to the presentations as well as a Q and A document. Depending on your feedback, and the outcome of the provincial election, one or more further meetings may be held later this summer to address steps going forward.
If you have any questions, please contact Bob Weisnagel, Director, Pension & Insurance (email: firstname.lastname@example.org or ext. 74184).
Please join us for this important session.
Vice-Principal (Finance and Administration)