News: OPSEU to Survey Members and PensionerPosted: July 12, 2002
Friday, July 12, 2002 - In late July, OPTrusts 70,000 members and pensioners will be mailed copies of an OPSEU survey on how to allocate the memberships $467 million share of the Plans gains.
The decision on how to allocate the members and pensioners share of gains is up to OPSEU, as a plan sponsor. Gains may be used to:
- set aside a reserve to stabilize contributions in the event of a future loss in the Plan
- pay for temporary or permanent benefit improvements, and/or
- reduce members contributions.
The OPSEU survey will ask members and pensioners to rate a number of available options. To register your opinion, be sure to mail your completed survey to OPSEU by August 16, 2002. Do not mail your survey to OPTrust.
OPSEU has indicated that it plans to make its decision in September. Where changes to benefits or contributions require amendments to the Plan text, both sponsors must sign the amendments before OPTrust can administer the changes.
We will report on OPSEUs decision - and any changes to your benefits or contributions - on this site and in future issues of our newsletters, OPTions and The Pension Connection, when details are available.
Didnt receive your survey?
To ensure your confidentiality, OPTrust will mail the gains surveys on OPSEUs behalf. Surveys will be sent to the home address of active members, pensioners and members who have been divested from the Plan.
If you have not received your copy of the OPSEU survey by August 5, please contact OPTrust to confirm that we have the correct mailing address. If your address has changed recently, OPTrust will mail a replacement survey to your new address. Please call us at (416) 681-6100 or 1-800-637-0024
For more information on the gains in the OPSEU Pension Plan, please see: