Good afternoon,
Queen’s University, University of Guelph and The University of Toronto, together with their faculty associations, the United Steelworkers (USW) and representatives of the non-unionized employees at the three universities (through the Ontario Association of Non-Unionized University Employees) are working diligently to develop a new pension plan that would cover employees at all three universities, The University Pension Plan Ontario (UPP).
This new pension plan, which would be a jointly sponsored multi-employer pension plan (JSPP), is a type of defined benefit (DB) plan. It represents a unique opportunity to reshape and sustain the retirement income system in the Ontario university sector. It is the same model used by other notable pension plans such as the Ontario Teachers’ Pension Plan, OMERS (municipal employees) and CAAT (colleges). Once it is up and running, it will be available to other Ontario universities as well.
Benefits that are already earned under existing plans will not change. The pension benefits of retired members also will not change.
Queen’s University is holding information sessions for all employees and pensioners on the pension plan proposal. Members will be part of a consent process that is expected to begin in early 2019.
|
Date |
Audience |
Time |
Location |
|
November 22 |
All |
10:30 am – 12:30 pm |
Grant Hall |
|
November 30 |
All |
10:00 am – 12:00 pm |
Grant Hall |
|
November 30 |
QUFA |
2:00 pm – 4:00 pm |
Grant Hall |
|
December 14* |
Pensioners |
1:00 pm – 2:30 pm |
Ellis Auditorium |
*note: This session will be incorporated into the Queen’s University Pension Plan Annual General Meeting.
Information about the proposed pension plan is available on the UPP website, where you can sign up to receive updates. You also can find information on the Queen’s University Pension Services page. If you have not already done so, we encourage you to visit these sites and participate in the ongoing discussions.
In addition, please find attached a notice about the upcoming town halls at Queen’s.
Regards,
Donna
Donna M. Janiec, CPA, CA Vice-Principal, Finance and Administration
Queen’s University Richardson Hall, Suite 352 |74 University Avenue | Kingston, ON | K7L 3N6 T: 613-533-3064 |C: 613-484-9900| janiecd@queensu.ca
The Office of the Vice-Principal (Finance and Administration) acknowledges that Queen’s University is situated on traditional Anishinaabe and Haudenosaunee Territory. We are committed to effective resource stewardship, championing inclusivity and creating a culture of sustainability.