response to a question about the new Trust Fund for retirees, he deferred to Mr. Jim Butler's presentation which would cover this issue. Dr. Paul stated the transition from being an active faculty member to a retiree is abrupt. The retirees pool being a real resource, he welcomes their participation as Sessional instructors, in academic advising and counseling. Given that all the baby boomers are retiring, there is a shortage of Ph.D's to be appointed as faculty and the University is vulnerable as some of the good faculty may be lured away by other institutions. He appreciated the opportunity to come to the meeting and said that he is willing to meet more than once a year with the retiree groups.

3. Remarks of Brian Brown - Prof. Brown stated that he wished to provide some clarifications and hear from the retirees. A copy of his letter to Stan Cunningham has been distributed to all members at the meeting. He said that the comment "Negotiating Team made no effort to speak on behalf of retirees" was simply not true. On the contrary, he said that the Negotiating team's provisions to establish a Trust Fund was a significant one.

He explained how the trust fund would be set up. First he said that the $ 1.5 million held in escrow as per the memorandum of agreement was in fact not there, since it was held as a contingency reserve, which will be folded into the new surplus, whenever it is finally determined. Out of this sum, $ 2.4 million will be for contingency reserve and the rest divided between the WUFA and the University(1/3 and 2/3 respectively). One half of that will be set up as a Trust Fund, plus about $ 145-150,000 in GST rebates and all future GST rebates will go to the Trust. The interest from this Trust would be used to address Retirees' benefits.

He said that the current pension holiday will end February 2002 and from then on the active faculty will be on ½ pension holiday. He said the WUFA did not abandon retirees but would like to work with WURA in a collegial manner.

He further stated, that WUFA put in place a number of changes - amending WUFA constitution to appoint retirees to Executive committee, Council , Contract committee and give them status as associate members. Thus retirees have a voice.

4. Remarks of Mr. Jim Butler - Director of Human Resources - Mr. Butler stated that the D7 clause existed for many years, but it was not operative until after the 1998 contract, when it was invoked to examine the adequacy of pension plan. The committee after its deliberations concluded that Windsor plan design was adequate. Jim Skinner visited Carleton and Queen's universities to consult about their plans. The committee agreed that Windsor plan was favorable and there was no need for change. He stated that the concept of a reserve was a problem at Windsor. MP pensioners do well or poorly based on market performance. The MG net is advantageous for retirees. He informed the meeting that the staff plan did not have a MP component.

Mr. Butler further stated that a large part of the 1998 surplus was used for Voluntary Early Retirement and post retirement benefits are expensive for the university and all professional advice he got was not to touch this matter. He said however, that surplus could be used for post retirement benefits, if it is legal and optimal from the tax point of view. He corrected the assertion that the University did not put forward any plan for the retirees. He said the D7 report was tabled at the Negotiations, but it did not go far because of costs.

Next he also outlined the Trust Fund and guidelines he is seeking from consultants to set it up immediately. He is to open to governance model and composition of the committee.

5. Remarks of Ms Aase Cuthbert - Director Students Awards Office

The Faculty Retirees' Scholarship, established in 1998 with matching grants through the Ontario Student Opportunity Trust Fund, is currently valued at $57,858.93 (capital and expenditure accounts). This sum supports three one-thousand dollar awards to students each year.

She stated that WURA scholarship committee requested, that the terms of reference for the award be amended to require that student candidates be full-time, have previously completed at least five University of Windsor courses, and have attained at least a 10.0 cumulative average. The application deadline for our general bursary program is October 31. After this date we will select a number of students' applications who fit the new criteria and submit them to your committee for consideration.

She thanked the Retirees Association for their ongoing support of our students.

6. Business arising from the minutes - None

7. Report of the Treasurer

Professor Phyllis Nolan presented the Report for the period - October 1, 2000 to September 30, 2001Report of the Treasurer-October1, 2000 - September30, 2001

Opening Balance (Oct.3, 2000) $ 3,41813

Membership Fees(2000-2001) $ 620.00 $ 4,038.13

Expenditures

Printing $ 653.98; Postage Stamps $ 634.78;

General meeting 50.00; Miscellaneous Expenses $ 290.60

Contingencies - 3 plaques $ 172.50

Bursaries - Memorial Fund $ 200.00

Sub-total $ 2,001.86Balance on hand $ 2,036.27

On the motion of Phyllis Nolan seconded by Ross

Johnston, the Treasurer's report was approved

as presented.

7. President's Report - Stan Cunningham

A copy of the President's report was circulated with the

agenda material. Stan invited any questions and comments

from the members and he offered to soften his remark in the

report after hearing the presentation of WUFA President,

Brian Brown. Stan said he is stepping down as President and

welcomed Al Metcalfe as the new president. He paid tributes

to members of the Executive, in particular Phyllis Nolan, John

Meyer, Bob Chandler o r WEB master and Datta Pillay for

what he called was the backbone of WURA and his right

hand.

8. Progress Reports of Committees:

(i) Contract Committee - Alan Metcalfe stated that he was

very impressed with the WUFA Contract Committee for their

understanding, support and willingness to help retirees. He

pointed out four major items that were included in the contract

proposal, but the Negotiating Team chose to ignore them at

the table.

(1) Article D16 - all improvements to pension plan from 1.25 to 1.6 % apply to current and future members of pension plan