The Retirees' Newsletter

The Quarterly publication of the Retirees' Association (Faculty, Librarian, Administrator)

The university of Windsor, Windsor, Ontario, Canada N9B 3P4

Vol XII, No 2, Issue 46, Summer 2002

First Published in July 1991Issue # 46 Editor Jim Linton

President's Report

This is not a good time to be a retiree! The difficulties being experienced in the stock

market have a direct impact upon retirees. Just as disturbing is the increased pressure

upon universities and the resultant movement to the back burner of retiree issues. These

difficulties are accentuated by the fact that any decisions impacting upon our pensions and

benefits are made by other people. As I have stated previously, we have no real decision

making power except for moral suasion.

What the present situation has done is demonstrate the vital importance of the Minimum

Guarantee; it is, in very real terms, the only protection we have. As those of you on Money

Purchase will realize, our pension income has decreased by over 10%. Increasingly the

members are being forced into Minimum Guarantee. What this all means is that we have to

be increasingly vigilant and it is at this juncture I have major concerns.

Very simply we get very little feedback from the membership. Unless the membership

demonstrates concrete interest in what your executive is trying to do I fear for the future

of the association. We need to hear from you. However, all is not doom and gloom. The

Trust Fund is in the process of being put in place. Like everything else in the university

things move at a snail's pace.

However, they are moving and I have been assured by a member of the administration

that the commitment is firm and the fund will be established. At the same time, there is a

disturbing rumour which, if true, will have a detrimental impact upon retirees. One of the

key figures in determining retirees' pensions and benefits is rumoured to be leaving the

university. This is critical. [ Jim Butler's departure to Laurier has been confirmed since this

report was written.--ed.]

Finally, if you read my e-mail on the CAERA meeting on 31 May, 2002, you will recognize

that I recommended joining the restructured CAERA - CURAC (College and Universities

Retirees Association of Canada). The executive, rightly, took a more cautious approach

and decided to wait for a full discussion at the Fall General Meeting before deciding one

way or the other.

I have been living the real retiree's life - five weeks in England, one week at a cottage,

driving to British Columbia next week, leaving for England for four weeks in September -this

is what it is all about. Hope you too have had an enjoyable summer.

Inside this issue