Upcoming Post-Retirement and Active Benefit Plan Changes
The following changes apply to members of WLUSA/OSSTF, Senior Executives, the Management Group, Confidential Professional Administrative Group, Professional Administrative Group and Special Constables:
Post-Retirement Benefits Eligibility
- Employees retiring on or after January 1, 2016 will be required to be in receipt of a pension from the Laurier pension plan to be eligible for post-retirement benefits.
- Employees retiring on or after January 1, 2017 will be required to have 10 years of consecutive full-time service immediately prior to retirement to be eligible for post-retirement benefits. This change is not intended to negatively impact current employees. Any employee hired before July 1, 2014 will be required to have more than 5 years of consecutive full-time service immediately prior to retirement to be eligible for full-time benefits.
Post-Retirement Benefit Premium Sharing
Employees retiring on or after January 1, 2017 will be required to pay 15% of the annual premium cost. The University will pay 85% of annual premium cost.
*As an offset to the pension plan and post-retirement benefit changes, employees will be provided with a 0.5% in-base salary increase in January 1, 2015, January 1, 2016 and January 1, 2017.
Active Benefit Plan Changes
Effective July 1, 2014, the following changes have been made to the active benefits plan:
- Vision Coverage will increase from $350 to $450 every 24 months
- Paramedical Services will increase from $500 to $600 per service per calendar year. Services include: Chiropractors, Physiotherapists, Podiatrists/Chiropodists, Naturopaths, Osteopaths, Psychologists (including MSW and clinical counsellors), Speech Therapists, Massage Therapists and Christian Science Practitioners.
- Orthotics and Orthopedic Shoes have increased from $450 to $600 per calendar year.
- Introduction of Enhanced Generic Substitution Program.
For more information please see the Frequently Asked Questions.