Sponsors Corporation

Board decision
On November 15th, the SC Board of Directors met to vote on the proposed Plan changes. The Board voted in favour of the following changes:

• eliminate the current 35-year cap for credited service, and
• allow paramedics to negotiate NRA 60 participation.

These changes are an important step that will address issues of fairness and equity within the Plan. None of the other proposed changes was adopted by the Board. However, the considerable work done through the Comprehensive Plan Review will equip the Board to continue its efforts to enhance the long-term sustainability of the Plan.

The Board will continue to meet to formalize the changes and supporting details, including implementation and timing. The changes are unlikely to be adopted before January 1, 2021. More information will be shared as it becomes available. 
 
The Board appreciates the input and feedback received from all stakeholders throughout this review.