PENSION

JoAnn Hoyak
Chair MacGregor
 
MEMBERS:
  • Bill Cann, Winnipeg
  • Julian Hoyak, MacGregor
  • Alison Logan, Winnipeg
  • Rudy Peters, Winnipeg
  • Peggy Prendergast, Winnipeg
 

 

Information on the Disposition of the Restricted Surplus

RTAM and the RTAM Pension Committee continue to work in the interests of all the retired teachers of Manitoba to obtain the best possible outcome for the distribution of the restricted surplus and pension issues in general.

1.     The Ad Hoc Pension Adjustment Account committee consisting of RTAM President Rosalie Bornn, Pension Committee co chair JoAnne Hoyak, and Board Director Wayne Hughes had several meetings with MTS representatives-President Norm Gould, Vice President James Bedford, Assistant General Secretary Roland Stankevicious and General Secretary Bobbi Taillefer.

We are pleased that our discussions resulted in a mutual agreement as to the dispersal of the restricted surplus. This joint recommendation has been forwarded to TRAF who will utilize our conditions in their deliberations as they formulate a final recommendation to the Government.

The proposal reads as follows:

“ That the Restricted Surplus, as calculated by the TRAF plan actuary, at Dec. 31, 2017, be distributed over a five {5} year period commencing July 1, 2018 to all retired teachers”.

2 .On Dec.12th, 2016, representatives from RTAM’s Pension Committee –RTAM president Rosalie Bornn, Committee co chairs JoAnne Hoyak, and Peggy Prendergast and Board Director Ray Sitter met with Education Minister Ian Wishart. Several topics were discussed including the restricted surplus dispersal, the end of Bill 45 and members’ concerns in that regard, the nomination of a retired teacher rep on the TRAF Board, Seniors Coalition awareness and the RTAM Volunteer Study and defined benefit pension security.

We look forward to the continuation of this tradition and the opportunity for dialogue it encourages.

The Pension Committee, through RTAM President Rosalie Bornn, is continuing to seek opportunities to meet with the leaders of both the NDP and Liberal parties in order to discuss pension issues and concerns.

3.     The Pension Committee is working through its responsibilities in the process of the possible appointment of an RTAM member to the TRAF board. The RTAM TRAF Nomination Process has been forwarded to his office in care of David Yeo.

4.     We continue to monitor pension related issues and still would be grateful for personal stories or observations on this topic, or input of any kind, from our membership.

Watch this site for developments on this topic.

TRAF Request for Comments-Disbursal of Restricted Surplus

The Board of the Teachers' Retirement Allowances Fund is requesting comments regarding the disbursal of the restricted surplus that has accumulated in the Pension Adjustment Account over the past 10 years.

The amount of restricted surplus is $27,987,000. As described in the Request for Comments, the Board has received a joint recommendation from The Manitoba Teachers' Society and the Retired Teachers' Association of Manitoba; however, prior to making a final decision, the Board is seeking input from individual members and other interested stakeholders regarding the disbursal of the restricted surplus.

Please note that comments may be submitted until 5:00 p.m. on Wednesday, May 31, 2017.

For complete details and to participate in the Request for Comments, click HERE.

Pension Committee Mandate

  1. Be current with the basic aspects of the Teachers’ Retirement Allowance Fund Board, the Teacher’s Pension Act and other relevant pension matters.
  2. Advise the Board on pension issues and make recommendations for policies and actions.
  3. Assist the board in responding on pension issues on behalf of RTAM members.
  4. Assist the board in educating members, other related parties, and the public on pension issues.
  5. Establish and maintain liaison with other relevant pension groups.
  6. Carry out the research process for RTAM’s nomination for the government’s discretionary appointment of a “representative: of retired Plan members to the TRAF Board, and shall conduct the search process and make recommendations in accordance with the RTAM Nomination Process for the TRAF Board Appointment.

The Pension Committee is Seeking Grassroots Input

The Pension Committee is seeking personal stories and anecdotes from retired teachers with regard to their opinions and experiences on our defined benefit pension plan, the security and sustainability of it, and the effects of Bill 45 on their personal purchasing power. Please contact any committee member or the RTAM office.

PRIORITIES for 2016 / 2017

1.     To be aware of changes in the Pension Act and the Teacher’s Pension Act that may affect us. Office staff will aid in monitoring this.
2.     To keep abreast of pension related articles and relevant letters in print media.
3.     To Continue working with M.T.S. as to the dispersal of the restricted surplus.
4.     To foster ongoing communication with the government on pension issues.
5.     To keep communications open with the TRAF Board.

WHO WE ARE

Retirement is a time of transitions. Throughout your career you belonged to the Manitoba Teachers’ Society (MTS), but upon retirement you are no longer a member. The Retired Teachers’ Association of Manitoba (RTAM) exists to serve retired teachers. We invite you to join the growing number of RTAM members and enjoy the benefits of belonging.

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