ISSUE
05
MAR 2018

CORFA Connect

HAPPY INTERNATIONAL WOMEN'S DAY!

IN THIS ISSUE

Pension Fund

Pension Fund Update

Bargaining Survey

Bargaining Survey

Bargaining Survey

Check your emails! You should have received an email from Ben Heyde regarding bargaining.

bargaining
7 Things That Have Been Achieved at a Collective Bargaining Table. Editorial@mediaplanet.com. Retrieved from http://www.unionizedlabour.ca/organized-labour/the-benefits-of-collective-bargaining on March 5th, 2018.

Please take a moment to complete the bargaining survey that was sent by Ben Heyde. It is important that you have a voice so that CORFA can best represent what our members find most important during bargaining. Every member has a chance to be heard. Bargaining has continually improved the working environment for union employees. A few of the successes that have arisen from collective bargaining include:

  1. fair wages
  2. fair workloads
  3. proper training
  4. improved health and safety
  5. improved grievances processes
  6. job security
  7. academic freedom language

Read a recent story surrounding the new collective  bargaining agreement from Confederation College in Ontario.

Need more information? Check out the article from the Canadian Unionized Labour on the Benefits of Collective Bargaining.

Read our current Collective Agreement.

Pension Update

Members

  • 26,800 Members
    • Active: 13,800
    • Retired: 7,000
    • Deferred: 5,800
Average Years of Active Service: 20

Average Lifetime Pension in Pay: $22,300 (median = $20,150)

Assets

Total: 4.6 Billion

Annualized Returns:

  • 1 year – 7.3%
  • 5 year – 9.7%
  • 10 year – 6.6%
  • 20 year – 7.2%

Pension Fund

Trustee Report to President’s Council – January 18, 2018
We currently use the British Columbia Investment Management Corporation (bcIMC) as our investor for our pension fund. bcIMC is considered an industry leader in Canada. We are also plan participants of the College Pension Plan along with many other colleges in British Columbia, including BCIT, Selkirk College and Vancouver Community College.
 

Current Issues

  1. Excess Interest Transfer
  2. Risk Review 
  3. Oversight of Agents
FPSE Involvement

FPSE Trustees play an active role both with the College Pension Board and within the family of plans. They are well respected within the family of plans and the labour-side pension community.

Questions?

As plan partners, what questions do you have? What are your expectations vis-a-vis the trustees and their work? Contact Joan – joankaun@gmail.com

Unions are F@$%^@ Great!

CORFA Executive Members

Joan Kaun

CORFA President

Ben

Ben Heyde

VP Bargaining

Sandi

Sandi Lavery

VP Stewards