No. 85

Effective: August 13, 2004

OPTrust plan amendment means changes in who gets an 'excess refund'

In May, we informed you about two new bulletins available on our Web site about transferring pension benefits from the OPSEU Pension Plan to the PSPP, and the PSPP to the OPSEU Pension Plan.

The bulletins have now been updated to reflect an OPTrust plan amendment. The amendment changes, among other things, the rules for calculating 'excess refunds' for mandatory transfers from the OPSEU Pension Plan to the PSPP.

Going forward, please disregard and do not distribute copies of the bulletins dated 5/10/2004, as they now contain outdated information.

For your ease and convenience, links to the bulletins are provided below. Refer to:

  • the 'Excess versus shortfall' section in Transferring Benefits - OPSEU Pension Plan to PSPP for the plan amendment
  • the 'Contributions' section in both bulletins for a changed expiry date for OPTrust's contribution rate reduction