Changes to the Plan – Nov. 2010:
- The Plan will no longer allow Additional Voluntary Contributions by members: the administrative costs associated with the additional accounting for separate member contributions clearly outweighed a benefit that only one single member expressed any interest in, in the last ten years.
- The Trustees have hired the services of an RBC Royal Bank Investment Advisor to take over the day-to-day management of the Plan portfolio, with FGP still holding a majority of the Plan funds in a pooled fund. It was apparent that with the recent economic crash, the Fund managers were not able to respond quickly enough, and it is hoped that some of the problems related to this can be effectively eliminated with the Investment Advisor.
- RBC has made available to the members of the Local, active and retired, an RBC Group Banking plan and a discounted Home and Auto Insurance plan. The Local has passed a motion at the November General Membership meeting to endorse the plan. Flyers are available.To set up or inquire about the Group Banking plan, members can contact Philip Senay, Branch Manager, RBC Royal Bank, at (519) 256-3495. Please make sure you mention that you are a member of CUPE Local 1001.
To setup or inquire about the Group Home & Auto Insurance plan, members can contact Albert Wintjes at (647) 286-2762. Please make sure you mention that you are a member of CUPE Local 1001.