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ERIC Number: ED312954
Record Type: RIE
Publication Date: 1989
Pages: 56
Abstractor: N/A
Reference Count: 0
ISBN: ISBN-0-88799-237-4
Ontario Universities Benefits Survey, 1988-89. Part II: Pensions.
University of Western Ontario, London.
Retirement benefits offered by Ontario's 17 universities to instructional and non-instructional staff are reported. Pension plans are summarized, and each institution's policy and practices are also presented separately. Information about plans includes type of plan, eligibility, member and university contributions, and benefits and standard options. It was found that there are nine defined benefit plans, eight money purchase plans with minimum guarantees, and one money purchase plan with no guarantees. For all plans, full-time academic and non-academic staff are eligible. In some, part-time staff are eligible. Length of compulsory participation varies. Member contribution rates also vary widely. In most plans, university contributions at least match member contributions but must also provide benefits accruing under the plan. In the remaining six plans, university contributions vary. In most plans, normal retirement is at age 65, with varying benefit amounts. Indexing policies are described briefly. The annuity is payable for life but guaranteed 60 months in 12 plans, payable for life but guaranteed 120 months in one plan, and payable for life only in three plans. Other options are available in all plans. Standard options include early retirement, termination, and death benefits before and after retirement, differing for each institution. (MSE)
Council of Ontario Universities, 130 St. George Street, Suite 8039, Toronto, Ontario M5S 2T4.
Publication Type: Reports - Research; Numerical/Quantitative Data
Education Level: N/A
Audience: N/A
Language: English
Sponsor: Council of Ontario Universities, Toronto.; Ontario Confederation of University Faculty Associations, Toronto.; Ontario Association of University Personnel Administrators, Toronto.
Authoring Institution: University of Western Ontario, London.
Identifiers: Noninstructional Staff; Ontario
Note: For Part I, see HE 023 010.