Pension Plan Update #4

Positive developments on pension issue

Preparations are underway for talks between the U of W administration and the university unions to resolve the university’s pension deficit issue. The way was opened for these talks on March 2, when the administration tabled a proposal that moved beyond its previous proposals to increase contributions, change early retirement, and reduce cost-of-living provisions.

All parties have agreed that the current talks will be carried out in confidence.

The administration also agreed that the process of transition to a trusteed pension plan would commence with a meeting of the parties’ legal advisors. The fundamentals contained in the most recent draft of the proposed agreement (known as Draft 19) would be maintained, although the document would have to address any changes required by…

Pension Plan Update #4