RTAM Groups | RTAM

Board of Directors for 2011-2012

Tue, 20 Dec 2011 14:59:56 -0600

Board of Directors: Richard R. Benoit, Winnipeg, President; Wayne Hughes, Winnipeg, Vice President; Jag Malik, Gilbert Plains, Treasurer; Directors-at-large: Winnipeg: Dolores Hebert, Barbara McDole, Anne Monk, Dr. Mary Pankiw, Peggy Prendergast , Ted Poulter, Val Smyth; and throughout Manitoba: Ron Kalinchuk, Virden; Judy Olmstead, Brandon; Carol Pelton, Thompson; Doreen Sage, Neepawa; John Sushelnitsky and Norman Wiebe, Portage la Prairie..

Board of Directors for 2010/2011

Fri, 11 Sep 2009 15:48:58 -0500

Name

Chair

Officers:

P. Pres. Pat Bowslaugh AGM Elections

Pres. Richard Benoit

V.P. Dr. Mary Pankiw

Secretary: Rita Warrian

Treasurer: Jag Malik

Members-At-Large:

Rosalie Bornn Bylaws & Policy

Tom Cameron

Guy Hansen

Wayne Hughes Political Action

Ron Kalinchuk Communications

Vel McAdam Educational Advocacy

Anne Monk Pensions

Peggy Prendergast Wellness

Maureen Recksiedler Travel

Doreen Sage

Ray Sitter Membership & Chapter Formation

John Sushelnitsky
William Taylor

Carol Gillis
Executive Assistant

Pension Committee

Fri, 24 Apr 2009 23:22:16 -0500

REPORT OF THE PENSION COMMITTEE April 23, 2009

The Pension Committee has written a report providing information and analysis on the recent TRAF announcement regarding COLA, for the information of the board, chapter presidents and members.

The Pension Committee will be studying the Pension Adjustment Account (PAA) Valuation Report.

1. JULY 1, 2009 COLA

The TRAF cost of living adjustment (COLA), effective July 1, 2009, as an adjustment to the base pension, is 0.37%. The consumer price index (CPI) for Canada for December 2008 over December 2009 is 1.2%. Therefore, inflation protection provided by the TRAF COLA is 30.8 % of CPI.

Cost of living adjustment (COLA) - 0.37%
Consumer Price Index (CPI) - 1.2%
% of CPI - 30.8%
No 2/3 COLA
No surplus for a reserve in the PAA

Dollar Increases in COLA

Base Pension $ COLA % Annual Increase $ Monthly Increase $

$ 10,000 x 0.37% $ 37.00 $ 3.08

15,000 55.50 4.63

20,000 74.00 6.17

25,000 92.50 7.71

30,000 111.00 9.25

35,000 129.50 10.79

40,000 148.00 12.33

Average base pension (approximate)

$ 22,000 x 0.37% $ 81.40 $ 6.78

2. Factors

Three factors important in analyzing this year’s COLA – the new COLA formula, the “greater of” method for calculating interest credited to the PAA and the new TRAF mortality tables - follow. Another factor – the valuation interest rate - is being reviewed by the Pension Committee.

a. New COLA Formula

With the passing of Bill 45, changes to the COLA formula in The Teachers’ Pensions Act came into effect for ten years. The former formula allowed for a full COLA in relation to CPI on an “affordability” basis. The new formula caps COLA at 2/3rds of CPI to a maximum of 5.33% on an “affordability” basis, i.e. unless doing so would result in an unfunded liability in the PAA.

The maximum COLA that could have been granted this year under the new formula is 0.8% - 2/3rds of 1.2% CPI = 0.8% CPI COLA.

The granting of a 0.8% COLA would have resulted in an unfunded liability in the PAA. Only a 0.37% COLA was “affordable”.

b. The “Greater of” Method

With the passing of Bill 45, changes to the method of interest crediting to the PAA came into effect for ten years. The new method credits interest to the PAA using the 3-year average of the annual “greater of” rates of return.* (* all returns net)

On the basis of the new formula, a ”greater of” return of 8.14% was credited to the PAA in 2008.

The calculation for the “greater of” method formula for the July 1, 2009 COLA is as follows:

For 2008, the fixed income return is 3.59%, and the total fund return is - 11.96%. So the “greater of” return for 2008 is the fixed income return of 3.59%.

The “greater of” 3-year average return, using each of the annual “greater of” returns credited to the PAA, is calculated as follows:

2006 2007 2008 2008

15.37% + 5.47% + 3.59% / 3 = 8.14%

The benefit of having the “greater of” method is demonstrated this year.

Without the successful RTAM initiative of proposing the “greater of” method in discussions at the Pension Task Force, the COLA grant this year would have been zero.

According to TRAF, without the “greater of” formula for crediting interest to the PAA, there would have been insufficient funds to grant a COLA, thus resulting in a zero COLA.

For example, a retiree whose base pension is $30,000.00 would not have received the adjustment of $111.00 to his or her pension. This COLA of $111.00 is not just a benefit this year, but a benefit of $111.00 each future year for a lifetime.

c. New TRAF Mortality Tables

TRAF has developed a new mortality table, for future mortality assumptions, based on a study of TRAF’s mortality experience. The use of this table specific to TRAF, as opposed to the former universal mortality table used, has had a negative effect on the financial position of the PAA and has resulted in a lesser COLA being granted this year.

According to TRAF, had the former mortality table been used, a 0.8% of CPI COLA could have been granted. Therefore, the financial effect of implementing the new table was a loss of 0.43% COLA.

3. Sale Report

In a statement about its recommendations, the Sale Report prognosticated the following:

“Implementation of these recommendations in 2008 would allow COLAs to immediately reach the proposed ceiling of 2/3rds CPI in 2008, assuming that CPI remains below 3%.” (p.8) The COLA grant effective July 1, 2008 did not result in a 2/3rds COLA. It is important to note the following regarding the implementation of the Sale Report “package” of recommendations enacted with the passing of Bill 45:

Year one - No 2/3 COLA

- No surplus from excess interest for reserve in the PAA

Year two - No 2/3 COLA

- No surplus from excess interest for reserve in the PAA

Noteworthy also is RTAM’s statement, in its Response Report to the Sale Report, about the report’s prognostication as follows:

“We are advised that prognostications of a 2/3rds COLA are speculative. Our professional advisors advise us that a 2/3rds COLA is dependent on low inflation and very dependent on consistently high investment returns. The average TRAF historical returns cannot be used asaccurate predictors of future returns.

As a result of such advice, we are skeptical of the report’s predictions of a 2/3rds COLA in 2008. Already in the proposed first year of the agreement, TRAF’s total fund investment returns fall short of the Fund’s historical average of 10%. They fall short of the verbal assertions of Mr. Sale to the RTAM Board regarding TRAF’s high returns the past 3 to 4 years of 12 to 15% and TRAF’s historical average, which implied the continuation of such high returns in order to convince us to ‘take the deal’.

RTAM believes that it would be imprudent to put reliance on expectations of rates of return equal to or higher than the TRAF historical returns in its assessment of the achievability of a 2/3rds COLA.” (pp.14-15) With the financial market downturn, RTAM has proven to have been right in the near term.

Anne Monk

Chairperson,

Pension Committee

Web Committee

Wed, 22 Apr 2009 10:15:08 -0500

Website Committee Report for March 2009

The new website design is beginning to take shape as technical problems are being dealt with. The ability to add and manipulate HTML pages has "simplified" the process of transcribing information from the old site to the new, since most of the main pages from the old site were written in HTML. One example that you can check out is the Links page which has been transposed from the old to the new. We have also enhanced this page with graphical links to randomly selected sites from the previous "list" method. The list of links still remains and all the links seem to be working properly. Please report any non-working links to the webmaster. A couple of new links have been added, as listed in KIT. Any others that would be of use or interest to our members would be graciously accepted for inclusion in this page.

We have added the new board pictures, plus "the board at work" pictures as well as a listing of all the committee chairs and committee members as listed in KIT. I wasn't sure about adding all that personal information to the website, but it is all in KIT and KIT is available on the web, so there is nothing new about that information being disseminated. All of this information is posted on the new site and a link to this page is placed on the old site. It was getting too cumbersome to keep trying to place information on both pages (the old and the new), so we have decided to place links to the new page and eventually, when we transition to the new site, the older archived pages will be referenced with links. This will seemingly be a complex process because links back to the new site will need to be constructed as we make the changeover.

Work is continuing to transfer information from the old site to the new and a few technical problems are being encountered and dealt with. One example would be the .pdf files of KIT. There is currently a technical glitch with getting those files transferred into the new site outline but we are sure it will be fixable with a little figuring. It is like so many other things with computers - the solution is often simple, but finding the solution is often a long journey.

Bill has been doing some work on analyzing the old site to see what needs to be changed and what should be archived, etc. This is a work in progress, but it is progressing well.

April comments, in addition to the ones above:

As soon as I figure out how, I think I will be making the switch for the new site to be accessed upon logging in to www.rtam.mb.ca Currently, the old site is accessed by that address and the new site is a link on the home page of the old site. Since all new postings and changes will be made to the new site, it only makes sense to access the new site first. My only technical concern right now is that if I do this, I need to make sure that all the old site stuff is accessible to anyone needing information form there. Eventually all of the material will be accessible from the new site, either in new format or as a link to the old pages. It is all a matter of linking pages properly, and if a universal change is made, like changing the home page, all the links in the old site referring to that page will be non-functioning, so I need to figure out a way to prevent that from happening in this transition stage.

President's Report

Wed, 22 Apr 2009 10:06:06 -0500

April 2009

This has been a busy month, possibly because is was a shorter time between Board Meetings and the fact that we are on the cusp of the AGM.

I have visited four chapters and had mail or phone contact with several others:

March 27: BOYNE Chapter: The roads that day were treacherous so I arrived a few minutes late for the breakfast meeting. I was asked to give a short update on RTAM proceedings following their AGM. Although the attendance was challenged by the weather conditions, this chapter is vibrant under the leadership of Lana Rinn who will continue as president.

April 16: Retired Women Teachers of Manitoba - It was the AGM of this very vibrant group who have numerous plans for the forthcoming year as well as a full slate of officers with Barbara McDole continuing as president.

April 16: (evening) EMR Chapter: At their meeting Shannon Patershuk gave a full report on the various benefit plans and answered numerous questions. They were also having their AGM.

April 20: The Dauphin and Area Chapter: At this meeting there were some active teachers present and included with the very large turnout of retired teachers. I was asked to present on the activities of RTAM. Numerous questions and spirited dialogue took place. I acknowledged the motion received by RTAM at the last meeting and tried to emphasize that RTAM is willing to talk. I had a copy of "Ready, Set, Retire" with me which was requested by one of the members along with the promise that President Rosalie will take a supply back to Dauphin. Rosalie did a stellar job of bringing news to the people and seeking feedback on the proposed mini-rally.

April 9: The VanIsles Chapter held their AGM. The co-presidents, Val Davies and Jim Reid, asked for greetings to be sent to be read at their meeting which I managed to do from my retreat in Miami. Subsequently I talked with both co-presidents who had been disappointed with the attendance and with the reticence of anyone to take over the helm. However, in a subsequent conversation they were in the process of filming for a CD to be sent to our MLA's.

April 7: The Westman Retired Teachers' Association held their luncheon meeting and AGM. I was not present due to a weather initiated late plane connection but I have sent a note to the president and have asked him to distribute it to the members.

May 7: I received an invitation to the N.E.W. Chapter but I need to send regrets as I am already booked for another function.

April 17: This was the Retirement Reception for Judy Bradley and I appreciated very much the Board's support to attend. There were numerous speeches and congratulatory letters read which lauded Judy's efforts over her distinguished career with MTS. (We did not make the cut for either communication.) I was pleased that Bill and Val were there from the Board. It was a lovely evening with lots of great connections.

April 14: I attended the Pension Committee meeting but while at it I had a short discussion with Jeff Norton re the letters to Premier Doer, Hon. Greg Selinger and Hon. Peter Bjornson. In reference to the motion at the last meeting, Jeff informed me that the government has not made a formal announcement about the irrevocable component of the $1.5B and therefore asked if we could delay sending it until after he makes the announcement at our AGM when the Annual Report is ready.

Letters Sent:

Invitations to all former RTAM Presidents

Thank you not to Corinne Barrett de Wille

Invitation to Pat Isaak to attend our AGM

Invitation to Hon. Peter Bjornson to attend our AGM

A draft letter to Pat Isaak re her not attending President's platform

Committee Reports

Wed, 22 Apr 2009 09:54:08 -0500

Check the following links for reports from the RTAM board committees. Only reports that have been approved for public distribution will be included in these pages. Oftentimes reports are in draft mode or incamera mode and will not appear on these pages until approved for publication.

President's Report

Website Committee

Pension Committee

Photo Album

Fri, 13 Mar 2009 23:40:54 -0500

RTAM Board at Work

Wed, 11 Feb 2009 00:36:44 -0600

RTAM Board Working Hard at a Board Meeting at McMaster House, November 2008	Serious deliberations about New Directions following the Passing of Bill 45

Jag Malik	Bill Cann

Anne Monk	Brian Paterson

Wayne Hughes	Carol Gillis

Ray Sitter	Dr. Mary Pankiw

Maureen Recksiedler	Vel McAdam

Peggy Prendergast	John Sushelnitsky

Doreen Sage	Pat Bowslaugh

	Rosalie Bornn

Wayne Hollier	Richard Benoit

Guy Hansen	Ron Kalinchuk

RTAM Chapters 2010

Wed, 22 Oct 2008 22:20:46 -0500

Boyne Chapter of Retired Teachers President: Lana Rinn

Dauphin Area Retired Teachers’ Association President: Rosalie Bornn

Educatrices et Educateurs Manitobains a la Retraite (EMR) President: Gerald Dureault

Hanover Association of Retired Teachers President: Ric Goerzen and Brian Gadsby

Interlake Retired Teachers’ Association President: Joie Van Dongen

Intermountain Retired Teachers’ Association President: Ron Landry

Neepawa Area Retired Teachers’ Association President: Joan Rink

Northeastman Chapter President: Don Nichol

North East Winnipeg Retired Teachers’ Association President: Garry Bowles

Okanagan Chapter of RTAM President: Lorna Rothwell and Lorne Lisik

Portage la Prairie Retired Teachers’ Association President: Evelyn Rheaume

Retired Women Teachers’ Association of Manitoba President: Mary Pankiw

Riel Retired Teachers’ Association President: June Acason

St. James Assiniboia Chapter President: Connie Newman

RTW - Retired Teachers of Winnipeg (Recently formed chapter which received its Charter at the 2010 AGM) President: Dick Marshall

Southwest Assiniboine Chapter of Retired Teachers President: Bob Chalmers - Virden

Swan Valley Retired Teachers President: Jake Warkentin

The Pas Retired Teachers’ Association President: Vel McAdam

Thompson Retired Teachers’ Association President: Bea Shantz

VanIsles Chapter President: Val Davies and Jim Reid

Westman Retired Educators’ Association President: Rick Oakden

Return to Groups Within RTAM

RTAM Board Members 2009-2010

Wed, 22 Oct 2008 22:08:20 -0500

Officers

President: Richard Benoit Past President: Pat Bowslaugh

Vice President: Dr. Mary Pankiw

Secretary: Vel McAdam Treasurer: Jag Malik

Directors

Rosalie Bornn Bill Cann

Guy Hansen Wayne Hollier

Wayne Hughes Ron Kalinchuk

Lynn Land

Brian Paterson Peggy Prendergast

Maureen Reckseider Doreen Sage

Ray Sitter John Sushelnitsky

Admin. Assistant: Carol Gillis

Click here for Board Committees