Collective Bargaining Update-August 25

The University's Salaried Pension Plan has been the focus of discussions both at and away from the bargaining table as McMaster negotiates a new agreement with CAW Local 555, Unit 1.

Today, McMaster President Peter George and Don Pether, chair of the Board of Governors, sent an open letter to union members providing clarification and assurances concerning the Salaried Pension Plan.

The letter says: “McMaster has every intention of maintaining the long-standing post-retirement promise made to all current employees, specifically its promise to provide to eligible retirees a defined benefit monthly pension. The University is committed to maintaining this promise.”

The University's Final Offer to Settle tabled August 20th, does not change the defined benefit pension plan for current members. The University is bound by law to fund the Salaried Pension Plan that currently has more than six thousand active members and pensioners from CAW, TMG, the faculty, and senior leaders.

“McMaster has no intention of winding up the Salaried Pension Plan,” the letter says. “It will continue to exist and provide pension benefits until all of its pension obligations, including those to its very last member, are satisfied.”

The full text of the letter is available here.

The union has set September 1st as the earliest date it may strike. On Monday, August 24 the University filed an application with Ministry of Labour for a Final Offer Vote (see Daily News story). The Ontario Labour Relations Board has yet to finalize details about the timing and location of that vote.