Pension Plan Eligibility Changes

The Union has negotiated changes to the Plan effective September 1, 2009.

Members of units 1 and 2 can now join the Plan “on the first day of the month coincident with or next following the date on which he or she has received earnings at least equal to the September 1 course director rate…. in each of two consecutive years.” Members who have held a course directorship or have the equivalent in earnings in the Fall term 2009 and in the Winter or Summer terms of 2010 are now eligible.

Additionally, the Employer has agreed that members of the Plan will not have to re-qualify after an absence from employment at York unless they have decided to withdraw their funds from the Plan because they have ended their employment relationship with the university.

This agreement settled a number of grievances and significantly reduced the time a member has to work in order to be eligible. Previously, it could take more than two years to be eligible for the Plan. During negotiations for the current collective agreement, we were unable to persuade management to agree to more than minor changes, so this is a major victory for the Union.

The Union encourages all eligible members to join the Plan. The Employer contributes at a rate of 4.5% up to $46,000 in 2009, and 6% above that amount. The Plan is a collective agreement entitlement, using your contributions and the Employer’s as deferred wages to provide a retirement income. Please take advantage of this right and join the Plan.

You must be a member of the Plan to take advantage of the modest Post-retirement Benefits that we negotiated in the current agreement, so if you are planning to retire in the near future, you must enroll in the Plan to be eligible at retirement for the benefit outlined in A. 15.26.

Do not rely on the Employer to advise you of your eligibility for the Plan. Although they are required to notify you, members often do not receive notice. Please contact one of the staff if you have any questions about the Plan, your entitlement, or the Post-Retirement Benefits. The Union can grieve on your behalf, and we have been quite successful in achieving settlements.