At Your Service

Pension Committee

Pension Committee

  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.

Chair: Alison Logan

Members:

JoAnne Hoyak
Joan Dawson
Julian Hoyak
Lynn Land
Bill Cann (Ex-Officio)
Mel Montgomery (Carman)

JANUARY 2022

The Pension Committee remains steadfast in working toward improvements including monitoring pertinent information. The following highlights may be of interest to retired teachers.

Canadian DB pensions in stronger positions to withstand challenges ahead: reports

  • - A report by consulting firm Mercer found that the pension plans were well-funded despite an uncertain end to the year.
  • - Sixty-one per cent of pension plans were in surplus position at the end of the fourth quarter, compared with 53 per cent at the end of the third quarter.
  • - “As DB plans’ financial positions continue to improve, many plan sponsors are now finding themselves in the enviable position of having DB surpluses,” said Ben Ukonga, principal and leader of Mercer’s wealth business in Calgary in a news release.
  • - While Omicron added uncertainty to end the year, equity markets continued their upward trajectories, said Nathan LaPierre, partner, wealth solutions, Aon.

This report by The Canadian Press was first published on January 4, 2022.

Free Press also published on January 4, 2022

AGM 2020 REPORT

Respectfully submitted by Alison Logan, Chair (Winnipeg)

Members: Bill Cann (Winnipeg), JoAnne Hoyak (MacGregor), Julian Hoyak (MacGregor), Lynn Land (Winnipeg), Laura Skelly (The Pas)

Five committee meetings were held during the 2019-2020 year. 

In addition, Jeff Norton and Brad Prokop of TRAF attended one Pension Committee meeting and one RTAM Board meeting in order to share information.

As has been past practice, a meeting between TRAF Staff and RTAM Representatives was held on October 21, 2019. The President, Treasurer, Secretary and Pension Chair attended on behalf of RTAM.

Highlights of the Pension Committee endeavours this year included:

  1. Monitoring the status of the joint agreement with MTS and accepted by the TRAF Board as to the dispersal of the restricted surplus. The dispersal has been in place since July 1, 2018 and will continue over 5 years.
  2. As of July 1, 2020 COLA will be 1.35%.
  3. The Revision of RTAM Nomination Process for TRAF Board Appointment document which has been included in the AGM package.
  4. Action requesting that MTS recognise RTAM as the official voice of retired teachers.
  5. Ongoing communication with ACER-CART.
  6. Strongly urging the continuation of the traditional meeting(s) with our provincial representatives is recommended. Due to unusual circumstances, (Covid-19 as well as the provincial election) it was not possible this year. 
  7. The chair wishes to thank the committee members for all their commitment and diligent work.

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 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 2020/2021

  1. To be aware of changes in The Pension Benefits Act and The Teachers’ Pensions 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 to work with MTS on relevant issues.
  4. To foster ongoing communications with the Government on pension issues.
  5. To keep communications open with the TRAF Board.
  6. To advocate that the Government appoint a retired teacher to the TRAF Board from RTAM’s list of recommended nominees.