The Retirees' Newsletter Page 9 The Retirees's Association ( Faculty, Librarian, Administrator), University of Windsor, Windsor, Canada
Vol XI I, No. 4, December 2002
| Association News |
Alan Metcalfe was re-elected as President WURA 2002-2003
John Meyer who has been on the Executive as Chair, Pension
Benefits Committee since 1999, is now elected as Vice President, a
new position created under constitutional changes
Gordon Olafson served informally as Social Chair last year after he
retired. He is now elected Director. He joined the Faculty of Human
Kinetics in and continued teach and do research until his retirement in
2001.
Kenneth Pryke joined the University History Department in 1963, after spending a few years in RMC and Laurentian University. In 1971 he became full professor. He also served as Faculty Association President 1975-76, as Department Head for several years and many years on the University Senate. He is the author of several articles and a book.
Pension
There was an open meeting for all members of the pension fund on Dec. 2 nd in Vanier Hall. Pres. Alan Metcalfe attended on behalf of the Executive. The results reported were:
" The quarter from July-September was down about -10% to -11% which reflects the volatile and dismal market; the current quarter has improved somewhat and the fund managers indicate that the market is on the ascent;
* Last year' s performance as reported at the general meeting was around the -1% and with the addition of the -6% required in the formula to keep the fund solvent, we lost -7% + So this will obviously be reflected in the absence of surplus or small surplus in the future;
" It is to the credit of our pension fund managers that they continue to out perform most of the numerous indices which are the basis of comparison.
Trust/Benefits Fund
The latest information is: as of the end of December the entire surplus designated will have been deposited into the Fund since last April. The more accurate amount is $1.2+ million. Due to circumstances beyond our control, the Committee established last May has finally met for the second time to determine terms of reference and to make decisions about the future disbursements of the fund based on internal and external advice. Pres. Alan Metcalfe is currently the interim representative on the Committee pending the appointment of a replacement for Peter Burrell.
At present there are only some 329 retired members of the pension
fund. It will be to our advantage to avoid any negative tax implications
income from what appears to be minimal benefits for all eligible
members. Suggestions and proposals are always welcome from our
members. Health Benefits
We can certainly expect another percentage increase come April in our
Green Shield Retirees Plan. If you are moving out of the Province of
Ontario or currently living out-of-Province (Ont) on a permanent basis,
there is little advantage and probably a disadvantage to be in our
Green Shield Plan.
The Faculty Association now has available copies of a A pre-
retirement and retirement @ guide that all an abundance of
information on various aspects of retirement planning and numerous
sources of information. Many or most of you will already have
experienced the implications of such information. The Government
of Canada has also produced a new guide pamphlet for seniors and
their families. Contact any of their offices or 1-800- 622-6232 or the
website canada.gc.ca If you are 65 and over, Bell Canada permits
you to register for no fee directory information services. Contact
their business office or Bell phone centres. This is applicable only
in Canada.
In Memoriam
John Blake Gertz, a professor of Business Administration who
retired in 1983 after serving the University of Windsor for 34 years,
passed away on November 17, 2002, at the age of 86. Since his
retirement he lived for the past 19 years in Port St Lucie, Florida.He
served in the Army during World War II as a Captain in the Signal
Corps. Survivors include his wife Diane of 53 years, four sons and
eight grand children. Prior to coming to Windsor he taught at
Canisius College in Buffalo NY from 1948 to 1957.For many years,
he put on the Annual Seminar on Effective Labor Relations, bringing
in noted Labor Relations experts to campus.
Mrs Soofi Haque, wife of retired professor M.R. Haque passed
away on November 7, 2002, at the age of 62, after a brief illness. A
memorial service was held in the Windsor Mosque on November 8,
prior to the funeral ceremony.
| The Newsletter
The Retirees' Newsletter is put out by the Faculty, Librarian Administrator Retirees' Association of the University of Windsor, four times per year: -- in March, June, September and December. Its main purpose is to inform our retirees on matters of direct interest to them such as their pensions, benefits, association activities, etc. and, equally, to provide a channel for retirees to keep in touch with each other and with outside groups, including the Faculty Association and the University. The Newsletter welcomes from readers their comments,
arguments, contributions and creative work.
Editor Datta Pillay
Send items for inclusion, to Datta Pillay, 4015 Villa Borghese, Windsor, ON. N9G 2K3. Tel: (519) 972-1247 Fax:(519) 972- 8304 OR: Use his email address: pillay@ server uwindsor.ca |
| What's Inside |