April 17, 23 and 25, 2013

Specified Plan Change (SPC) Proposals

 

Four additional proposals were tabled by Members.  One is for provision of the right to negotiate NRA 60 benefits for paramedics, one is for changing the benefit accrual rate, one is for changing post-retirement cost of living adjustments and the last is for changing the early retirement subsidies.

 

It was noted that the proponents had until May 14 to amend their proposals, after which time a Compendium of current proposals would be provided to all SC Members.

 

(Note: Details regarding SPCs and subsequent amendments are posted on the SC website under Plan Design on an ongoing basis throughout the deliberation period.)

 

Governance

 

The Board received updates and recommendations from the Corporate Governance Committee (CGC) on its review of the governance by-laws, By-Laws #4 and #13 which set out the composition and appointment process for the SC and OAC Boards, respectively.  Following approval of the recommendations, the Board approved By-Laws #4 and #13.

 

Similarly, the Human Resources and Compensation Committee (HRCC) recommended changes to compensation effective January 1, 2014.  The Board approved the recommended compensation and subsequently approved By-Law #6 accordingly.

 

Based on the approved process, the SC is responsible for appointing Board Members to the OAC Board.  The CGC provided information in preparation for seeking nominees from designated sponsor organizations which have OAC Members whose terms are due to expire at year-end as well as appointments from designated sponsor organizations which have SC Members whose terms are due to expire at year-end.

 

The SC approved nomination and appointment packages which will be sent to affected sponsoring organizations by April 30th, and which explain the relevant changes to the governance by-laws.

 

In an effort to provide additional support, affected sponsor organizations will be invited to information sessions scheduled for May 13th.