Monthly Archives: July 2012

City employee pension costs big hit to taxpayers

By
0
July 30, 2012
City employee pension costs big hit to taxpayers

Guelph residents warned to watch pension costs of its city employees Vik Kirsch, Mercury staff Sat Jul 28 2012 GUELPH — City residents can expect rising taxes or other unpleasant alternatives in the years ahead as the municipality grapples with its portion of a large funding shortfall at Ontario’s pension plan for municipal employees,...
Read More »

Pensions Front Page in Waterloo

By
0
July 30, 2012
Pensions Front Page in Waterloo

Critics warn that rising staff pension contributions will challenge municipal budgets Paige Desmond, Record staff Fri Jul 27 2012 WATERLOO REGION — Waterloo Region taxpayers are paying more and more for the pensions of city staff, with a $5 million increase in 2011. Critics say cities are headed for financial ruin, but city officials...
Read More »

The Bridge Benefit unfair to taxpayers

By
0
July 30, 2012
The Bridge Benefit unfair to taxpayers

Jason Fekete, Postmedia News June 23, 2012 Federal government looks to scrap benefit cushion for retiring public servants OTTAWA — As the federal government overhauls Old Age Security, it’s struggling to pay for benefits owed to public sector employees — including a so-called “bridge benefit” of more than $12,000 a year each for federal...
Read More »

Fixing Nova Scotia Power Pensions

By
0
July 30, 2012
Fixing Nova Scotia Power Pensions

June 28, 2012 Fixing NSP pension shortfall not up to ratepayers, critics say Higher contributions and dipping into profits are among options Nova Scotia Power should look at to make up a shortfall in its employees’ pension plan before digging into ratepayers’ pockets, critics said Wednesday. The utility said it needs an extra $26...
Read More »

OMERS Commentary

By
0
July 17, 2012
OMERS Commentary

We are pursuing the OMERS pension review process. It has come to our attention that there are no cities that have submitted proposals to the Review. We urge your to contact your local politicians and bring them up to date! Here is our perspective on the Review and why it is important that cities...
Read More »

Top Ten Pensions in London

By
0
July 9, 2012

The Top 10 Pensions in London are worth over $42 Million in lifetime payouts. City of London – Top 10 Pensions Sunshine Estimated Pension Salary Annual Life Time 1 - City Solicitor $172,710.70 $109,397.49  $  3,866,580.31 2 Chief Administrative Officer $254,647.06 $166,752.94     5,893,769.91 3 Deputy Chief of Police, Operations $171,305.10 $108,413.57     3,831,804.33...
Read More »

OMERS Pension Review

By
0
July 7, 2012
OMERS Pension Review

OMERS is the pension plan for most city and municipal employees in the Province of Ontario. When major changes were made to the OMERS pension plan, the Act set out that: “Under the OMERS Review Act, 2006 the Minister of Municipal Affairs and Housing is required to ensure the appointment of a person to...
Read More »