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July 8, 2002
How will you use $467 million?
That’s your share of the latest surplus in the OPSEU Pension Trust
It’s a decision we almost didn’t get to make.
One of the key issues during our recent 54-day public service strike was control of surpluses in the OPSEU Pension Trust (OPT).
The government wanted to take away OPSEU members’ right to decide how their half of surpluses in the Trust were spent, and on what. OPSEU members and their bargaining teams said NO. The result? Now we have to decide how to use $467 million.
Yes, you read it right. That’s $467,000,000.
Under the terms of the Trust, this money may be spent to fund plan improvements, or contribution reductions for members, or to stabilize the fund as insurance against possible future downturns.
Summer survey
As in 1999, OPSEU will conduct a mail-in survey of all plan members and pensioners to get advice on how the money should be spent. After sifting through over 10,000 replies, the OPSEU Executive Board decided in 1999 to extend the Factor 80 early retirement plan, fund better pensions
for surviving spouses, reduce member contributions by an amount equal to a four per cent pay raise for three years, and make other improvements.
How the latest surplus is used depends on two things:
This year’s survey is being drafted now. It should be in the mail - along with detailed information from the OPT - later this summer.
Attention locals and strikers:
Cash those cheques!
OPSEU’s central OPS strike accounts at the Bank of Montreal will be closed as of July 22.
Locals have until July 19 to cash cheques issued to them. Members who may not have cashed their strike cheques should do so by the end of the month.
The people handling local strike accounts are asked to submit all their accounting forms to head office.
Members continue active lobbying
On retroactive pay:
Mr. Tsubouchi:
OPSEU members have been very patient waiting for the money owed to them. It’s time that their raises were implemented. It’s time to pay them their retroactive pay.
As a retired member of the OPS as of May 31, I am looking forward to the money owed to me. I am also wondering when I might expect to receive my severance and vacation money, not to mention the payout for HLRs owed to me from last year.
Please instruct those responsible to start processing these monies and start implementing the collective agreement.
Article 79.1 of the agreement says that the agreement must be implemented in an expeditious manner.
The date given to members (Oct.7) is a long way from being expeditious. It is totally unacceptable.
The two months that has passed since the labour dispute is plenty of time to begin this process.
Sir with all due respect “Let’s get at it.”
Thank you.
Gary Stonehouse
Brantford
On outlawing scab labour:
Dear Minister Clark,
I am livid about the events happening in Ontario regarding working people. Your government’s backward laws are bringing the 1900s back. What I mean is that allowing replacement workers to replace legal striking workers will mean violence and ugly scenes that were seen in
the last century.
Navistar is a prime example of when rights of workers are trampled.
You must protect workers in a legal strike position.You cannot let underhanded employers use uncivilized tactics.
Give back rights to workers to bring standards of living to a reasonable level and to maintain them.
Joe Perretta
President, Local 202, Hamilton
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