ERIC Number: ED196397
Record Type: RIE
Publication Date: 1980-Dec-1
Reference Count: 0
University Benefits Survey: Part II (Pensions).
University of Western Ontario, London.
Information on pension plans in 16 Ontario universities is presented in terms of the type of plan, eligibility, member contributions, university contributions, and benefits. There are eight defined benefit plans: seven money purchase plans with minimum guarantees, and one money purchase plan with no guarantees. Almost all of the plans are eligible to full-time and nonacademic staff, and one plan offers membership to part-time staff who earn a specified salary. Member contribution rates vary widely, and in all but four plans, university contributions at least match member contributions but must also provide the benefits accruing under the plan. Benefits are indicated for the following cases: on normal retirement, on early retirement, on termination, and on death. In all plans, normal retirement is at age 65, and early retirement may begin at age 55. A model calculation of the minimum guaranteed annual pension or the annual pension provided by the defined benefit formula is provided for each university. Information is also presented on the trustee, investment manager, pension committee, fund performance, and reciprocal agreements for each university. The universities covered are: Brock University, Carleton University, University of Guelph, Lakehead University, Laurentian University, McMaster University, University of Ottawa, Queen's University, Ryerson, University of Toronto, Trent University, University of Waterloo, University of Western Ontario, Wilfrid Laurier University, University of Windsor, and York University. (SW)
Descriptors: College Faculty, Compensation (Remuneration), Eligibility, Financial Policy, Foreign Countries, Fringe Benefits, Higher Education, Investment, Money Management, Personnel Policy, Program Descriptions, Retirement Benefits, School Personnel, Teacher Retirement
Council of Ontario Universities, 130 St. George Street, Suite 8039, Toronto, Ontario M5S 2T4, Canada.
Publication Type: Reference Materials - Directories/Catalogs; Reports - Descriptive
Education Level: N/A
Sponsor: Council of Ontario Universities, Toronto.; Ontario Confederation of University Faculty Associations, Toronto.
Authoring Institution: University of Western Ontario, London.
Note: For related document, see HE 013 418. Sponsored in part by the Ontario Association of University Personnel Administrators.