This is the first in a series of shared USW newsletters for all three USW local unions at the University of Toronto, the University of Guelph and Queen’s University about the University Pension Plan (UPP). Our Local will continue to engage in outreach and education specific to our members here at U of T, but these shared newsletters will ensure that information continues to be shared with all of our members at each of the three universities on a regular basis.
- Pension Newsletter #3 – December 20 2018
- Pension Newsletter #2 – December 4th 2018
- Pension Newsletter #1 – November 28th 2018
News & Announcements:
- November 21st Announcement on Offsets to Contribution Increase
- Slides And Text From Pension Lunch and Learns
- USW Local 1998 Executive unanimously supports the UPP, click here for the motion
- Joint UPP Communication
- Lunch & Learn Handouts
More information and resources:
University administrations, faculty associations, unions and other staff groups at University of Toronto, University of Guelph and Queen’s University have been working diligently to develop a new pension plan that would cover employees at all three universities. Once it is up and running, it will be available to other Ontario universities as well. This new pension plan, which would be a multi-employer jointly sponsored pension plan (JSPP), is a type of defined benefit (DB) plan, and it represents a unique opportunity to reshape and sustain the retirement income system in the Ontario university sector. The current phase of this initiative kicked off last August with an agreement among the administrations, Steelworkers locals, faculty associations and non-represented employees at the University of Toronto, Queen’s University, and the University of Guelph.
In the next phase, Local 1998 will be educating and informing members about this process over the next several months with meetings and background materials. In the winter of 2018 / 2019, members of the pension plan will be able to vote on whether or not to join the new pension plan. Please watch your email for updates.