Pension Plan Improvements |
2008-06-11 11:45:04 |
Dear Pension Plan Member;
The Board of Trustees is pleased to announce Pension Plan improvements to the Retirement Benefit Schedule retroactive to May 1, 2007 which have been approved by Alberta Finance. The new schedule is as follows:
“in respect of the Plan Years on and after May 1, 2007 – a monthly Retirement Benefit equal to $0.075 for every Covered Hour of Employment in any Plan Year that exceeds 100.”
This new schedule will be reflected on your Pension Statements for the year ending April 30, 2008 which will be mailed to you in July 2008.
This increase was made possible with the recently negotiated contribution rate in the last Collective Agreement, good governance practice and prudent investment decisions made by the Trustees.
Should you have any questions, feel free to contact our Administration office.
Sincerely,
The Board of Trustees
M. Alain J. Hajdu
R. Bruce A. Hettinger
C. Deedo B. Rooney
R. Evjen T. Wilkinson
