{"id":23509,"date":"2020-10-12T20:58:08","date_gmt":"2020-10-13T03:58:08","guid":{"rendered":"https:\/\/blogs.ufv.ca\/announce\/?p=23509"},"modified":"2020-10-12T20:58:08","modified_gmt":"2020-10-13T03:58:08","slug":"proposed-changes-to-municipal-pension-plan","status":"publish","type":"post","link":"https:\/\/blogs.ufv.ca\/announce\/2020\/10\/12\/proposed-changes-to-municipal-pension-plan\/","title":{"rendered":"Proposed changes to Municipal Pension Plan"},"content":{"rendered":"<p>A message for UFV staff members who are part of the Municipal Pension Plan:<\/p>\n<p>The plan partners of the Municipal Pension Plan (MPP) represent both employees and employers and share oversight of the plan. They have conducted a comprehensive, multi-year review of the MPP and have come to an Agreement in Principle (AiP) of proposed changes to update the plan. The plan partners have been guided by four principles:<\/p>\n<ol>\n<li>Improve equity for members<\/li>\n<li>Align benefits with how the majority of members use them<\/li>\n<li>Set a strong foundation for the long-term sustainability of the plan, and<\/li>\n<li>Stay within the current cost envelope.<\/li>\n<\/ol>\n<p>Examples of these proposed changes include:<\/p>\n<ul>\n<li>Moving away from a two-tiered system for accrual and contribution rates<\/li>\n<li>Removing the bridge benefit on future service<\/li>\n<li>Removing the rule of 90 for service after January 1, 2022; and<\/li>\n<li>Changing reduction factors that will affect early retirement<\/li>\n<\/ul>\n<p><strong>Municipal Pension Plan partners redesign website<\/strong><\/p>\n<p>A website has been created to provide you with information about the proposed changes, to learn more about the proposed changes and how they might affect you, please visit <a href=\"https:\/\/www.mppredesign.ca\/\">https:\/\/www.mppredesign.ca\/<\/a><\/p>\n<p>The website has been developed with the following tools and resources:<\/p>\n<ul>\n<li>an online calculator for Group 1 active members<\/li>\n<li>in-depth FAQs for all groups<\/li>\n<li>presentations and<\/li>\n<li>a video explaining high level proposed changes for Group 1.<\/li>\n<\/ul>\n<p><strong>Project Call Centre<\/strong><\/p>\n<p>The primary purpose of the call centre is to support wayfinding and direct the caller to the most appropriate contact amongst plan partners. A temporary call centre has been created from September 14 to October 23, 2020 and will operate Monday to Friday from 8:30 a.m. to 4 p.m. at \u00a0<a href=\"tel:+1877-251-0997\">1-877-251-0997<\/a>.<\/p>\n<p><u>Please note:<\/u>\u00a0This temporary call centre has been created to assist you in finding information and\/or directing you to the appropriate location to learn more about proposed plan design changes. The call centre cannot answer substantive questions about the proposed changes.<\/p>\n<p><strong>Projected timeline<\/strong><\/p>\n<p>The decision on the proposed changes by plan partners is anticipated in early 2021 and the proposed changes are planning to be implemented on service earned after January 1, 2022.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Require this information to be sent out once in UFV Now (Tuesday, Oct 13th)<\/p>\n<p>&#8211;<br \/>\n&#8211;<\/p>\n<p>&nbsp;<\/p>\n<p>For more information, contact Lisa Kwak at <a href=\"mailto:lisa.kwak@ufv.ca\">lisa.kwak@ufv.ca<\/a><\/p>\n<p style=\"color: #fff;\">10\/13\/2020<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A message for UFV staff members who are part of the Municipal Pension Plan: The plan partners of the Municipal Pension Plan (MPP) represent both employees and employers and share oversight of the plan. They have conducted a comprehensive, multi-year review of the MPP and have come to an Agreement in Principle (AiP) of proposed &#8230; <a title=\"Proposed changes to Municipal Pension Plan\" class=\"read-more\" href=\"https:\/\/blogs.ufv.ca\/announce\/2020\/10\/12\/proposed-changes-to-municipal-pension-plan\/\">Read more<\/a><\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"generate_page_header":"","footnotes":""},"categories":[2,11],"tags":[],"class_list":["post-23509","post","type-post","status-publish","format-standard","hentry","category-news","category-ufv-today"],"_links":{"self":[{"href":"https:\/\/blogs.ufv.ca\/announce\/wp-json\/wp\/v2\/posts\/23509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.ufv.ca\/announce\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.ufv.ca\/announce\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.ufv.ca\/announce\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.ufv.ca\/announce\/wp-json\/wp\/v2\/comments?post=23509"}],"version-history":[{"count":3,"href":"https:\/\/blogs.ufv.ca\/announce\/wp-json\/wp\/v2\/posts\/23509\/revisions"}],"predecessor-version":[{"id":23514,"href":"https:\/\/blogs.ufv.ca\/announce\/wp-json\/wp\/v2\/posts\/23509\/revisions\/23514"}],"wp:attachment":[{"href":"https:\/\/blogs.ufv.ca\/announce\/wp-json\/wp\/v2\/media?parent=23509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.ufv.ca\/announce\/wp-json\/wp\/v2\/categories?post=23509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.ufv.ca\/announce\/wp-json\/wp\/v2\/tags?post=23509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}