The Retirees's Association ( Faculty, Librarian, Administrator), University of Windsor, Windsor, Ont. Canada

Vol IX, No. 4, October 1999

MP Pension Reduction 4.3 % Effective July 1, 1999

Jim Skinner and Jim Butler (Human Resources) met with Retirees Association representatives to advise, in advance, the reduction. In view of the poor performance of the MP investments, effective July 1, 1999 there will a 4.3 % reduction in pension for those retirees on MP Plan. Further, the recovery of over payments of July and August will be distributed over next 10 months to ease the burden. Unfortunately, the retirees have no say in such loss in the investments and ultimately their pension.

Faculty Association Agrees To Hire An Independent Pension Reviewer

To Study The University Pension Plan

The Faculty Association Pension and Benefits Committee (FAPBC) which includes three retiree members has convinced the Faculty Association to hire an independent Pension Reviewer to examine our present Pension Plan and to suggest refinements or modifications. In this connection, the FAPBC has prepared the following questions for the Reviewer to address. Quotations have been obtained from a few firms and a decision is being made to conduct this study.

1. In comparing our Plan to other corporations and universities, special attention should be directed to the Queen's /Carleton Universities Plan, also administered by William Mercer, which is set up with MG and MP components, but which seems to operate differently and more successfully than ours.

2. What can be done in the way of ensuring that pensioners are included in a more just and proportional distribution of future Plan surpluses, proportional, that is, to their investment, years of service etc.

3. What are the range of options and associated costs in distributing surpluses to pensioners and active members e.g., payments towards fringe benefits, cash bonuses, one-time payments. The Queen's University plan is worth looking at. For one thing, surpluses are not flushed out as premium-payment holidays, but used within the plan to soften the annual fluctuations of market returns.

4. Is there some way to reduce the extremes that separate MG increases from MP annual increases. As our plan now stands, there have been large rates-of-increase differences that seem to work to the disadvantage of senior retirees, but favour more recent retirees with fewer years off service. Once again, at Queen's, all retirees appear to receive the same rates of annual .increase. What are associated costs to do this.

5. Can Plan surpluses be used to subsidize benefit premiums for pensioners and (spouses./AMERICANS)

6. What are the legal constraints affecting any of the above, and what Plan reconfigurations would be necessary to allow for them.

7. Look at other Universities for subsidizing Benefit Plans for Retirees (e,g, York & Others)

Pension Surplus Erodes

The originally declared $ 2.89 million surplus was adjusted down to $ 1.59 which is an erosion of $ 1.3 million from the 1998 figures. In the negotiations with University, the Faculty Association was keen to earmark this amount to cover two items in the health benefits for the Retirees. However, the University was unwilling to accept this proposal as it would cost the University more than the present surplus amount. After considerable deliberations, it was agreed to leave this surplus alone until the next round of negotiations in another 18 months.

Dr. Schlesinger has been invited to give the keynote address by the International Society of Electrochemistry at their meeting earlier this month at the University of Piava in Italy.

In recognition of his expertise in the field, he will be speaking on 'Electrochemically produced quantum dots and their many applications'. He will be describing how quantum dots are attracting widespread attention for their potential application in future electronic devices.

Krishan Duggal, (Mathematics and Statistics), and colleague Ramesh Sharma, have published a book, "Symetries of Spacetimes and Riemannian Manifolds," Kluwer Academic Publishers (ISBN O792357930 ,VOL , 487. This book provides up-to-date information on symmetry properties governing the natural laws of our universe. It contains a comprehensive account of a very large number of papers on symmetries studied both in mathematics and physics. The book has a extensive list of references. Dr. Duggal has previously published a book that brought together mathematical and physics theory on hyperspace.

Professional Development Initiatives Scope For a Retiree

Mike Salter, the newly appointed Associate Vice President, Academic Affairs is working with a committee to develop an in-house 'Enrichment and Recognition' program for faculty. . He states, that the program would focus on (but not be exclusive to) the following.

1. Advances in Information Technology

2. Course preparation and delivery

3. Enhancing classroom skills

4. The orienting of new faculty/ sessionals /GA's

5. Faculty recognition

6. Faculty retention

The program will operate through a series of seminars, workshops, brown-bag lunches, colloquia, and soap-box dialogue.

Retirees interested in being involved are asked to contact:

Michael A. Salter, PhD Associate Vice President, Academic Affairs

Phone: 519/253-3000 (ext. 2010) Fax: 519/561-1400

E-mail: msalter@uwindsor.ca

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