|ATU Local 1505 Winnipeg|
Basics of your Pension Plan
My name is Everett Rudolph. In July of 2014, I was appointed as Amalgamated Transit Union Local 1505's Trustee on the Winnipeg Civic Employees' Benefit Program. The Board of Trustee's is a Board whose main responsibility is to oversee the governance, and administration of the Plan itself. To ensure that the Plan adheres to Provinicial and Federal laws and regulations. Also, to ensure the Plan is sustainable into the future. With the priority being, the Plan members and beneficiaries. There are 14 Trustee's on the Board. Divided equally between the Employer and Signatory Unions involved [with one Union Trustee representing the retirees]
If you have any questions feel free to call me at 204-979-1911. You can always call the WCEBP at 204-986-2516 and mention you are an ATU member. Or send them an email at wcebp@Winnipeg.ca. For your personal calculations, definitely contact WCEBP.
Any new employee with the City of Winnipeg starting after 2011. Does not have the option to retire before the age of 55. Compared to an employee that was working and will be able retire before then, but will suffer a small penalty for doing so. After 2011, employees and the city were asked to contribute a small portion more into the fund.
*These are the kinds of adjustments that are needed to be made from time to time to ensure the fund is sustainable for the future. The cause of this was the Financial crisis of 2008*
Only 10% of RRSP limits are actually used each year according to the Federal government. When RRSP's were first introduced, the hope was people without pensions would instead buy RRSP's. This never happened because the majority of people don't have anything left to put away.
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