Regina Civic Employees Superannuation and Benefit Plan

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Regina Civic Employees' Superannuation and Benefit Plan April 14, 2011

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Our Recommendations: Respect the legitimate and guardian commitments set out in By-law 3125 - it's the law! Regard the current administration structure, permit us to keep on bargaining a resolve Respect the legitimate commitments set out in the different aggregate assentions

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Our Recommendations: Get back to the table Direct the Admin Board to: - release the 2010 arrangement participation information to the unions' statistician - proceed with the readiness of a 2010 draft valuation, and - release the discoveries of the 2010 draft valuation

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Our Position The arrangement IS practical 2010 will demonstrate an essentially preferable monetary picture over 2009, unless the arrangement statistician and the Administrative Board settle on choices to apply the increases somewhere else It's not dealing when stand out side has entry to the data

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Understanding What We Have 1.35% up to Years' Maximum Pensionable Earnings (YMPE) 2% on acquiring above YMPE .65% scaffold advantage payable to age 65 Early retirement without diminishment when age + benefit = 80 Adjustments to shield you from expansion, half to a greatest of 4.25%

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Understanding What We Have Retirement security – the advantage you procure must be financed Each payroll interval you put aside a bit of your wages today to gather in retirement as a month to month annuity advantage The business' share of benefits costs frame some portion of our remuneration

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Understanding What We Have Plan outline changes can't lawfully be made without your endorsement You have a say in the amount you pay Surplus in the arrangement must be utilized for advantage enhancements You choose who has your voice and vote through the individuals you choose to speak to you on the Admin Board

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Understanding What We Have 53.8% of beneficiaries get under $12,000 78.6% of retired people get under $24,000 12.5% of beneficiaries get more than $30,000 Average Canada Pension Plan advantage in Saskatchewan = $485.27 Average Old Age Security = $493.34

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What's at Risk? Loss of your retirement security The cost of your annuity guarantee in the current characterized advantage benefits arrange must be subsidized over the long haul Every payroll interval, you consent to take a segment of your wages and concede them until retirement

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What's at Stake? Not any more early retirement No more extension advantage No more swelling security unless the arrangement can manage the cost of it

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What's at Stake? The privilege to deal your benefits is lost Loss of utilization of surplus to enhance the arrangement New contracts are no longer allowed to join the arrangement Inequitable "two-level" framework No arrangement by any stretch of the imagination?

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What's at Stake? An "objective advantage" plan is a noteworthy move far from your current advantage security An "objective advantage" is resolved in light of a set commitment rate If the "objective advantage" is not sufficiently financed by the altered commitment rate and speculation returns, advantages are diminished

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Our Position Defined advantage must be kept up Expand investment in the arrangement No two-level framework Inflation insurance must be looked after – think about no compensation changes for as far back as 20 years! We have officially consented to expel additional time from the advantage figuring

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Our Position These high expenses are just a depiction in time, the financing has effectively enhanced The businesses' recommendations to close the arrangement to new contracts will put our retirement security at hazard In the last two rounds, you have sent us an unmistakable message, our arrangement is imperative and you need to clutch it!