Plan Amendments

Some schools looking to join the Plan for the first time have expressed a need for some temporary flexibility with the participation requirements.  To help such schools, the Plan has been amended to allow schools that have not been in the Plan for two full years the option of offering staff, on the initial participation date, a one-time option to opt out of participating in the Plan.  After the initial participation date all new staff who are eligible will participate in the Plan.

The provisions of the Plan related to the suspension of benefits for retirees who return to work at a participating school were clarified and updated to current regulations.  In essence, suspension of benefit provisions do not allow an individual who is eligible to be an active participant to draw a pension.  Eligible individuals are those scheduled to work half-time or more during a plan year. 

Full Issue: No. 195 - December 2010

Back to CSI Pension Updates