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Pension surplus update

The announced deadline of April 30 for responses from Plan members concerning the disposition of their surplus share has now passed and it is time for an update on where we are in the process. The University's consultants are about to file the necessary documents with the Financial Services Commission of Ontario (FSCO). The normal minimum turnaround time is 90 days but the OPSEU strike (FSCO staff are OPSEU members) will likely extend this timeline. Even after final approval from FSCO, the trustee, CIBC-MELLON indicates it will take another 5 to 6 weeks to process and distribute payments. This suggests September as the earliest date payments will be received by individuals. The good news on this front, however, is that interest is being paid on the surplus shares until the time of distribution. Until recently, that was not much consolation as the market returns had been poor in our fund as in most others. However, the return from July 1, 2000 to March 31, 2002 is now 5.6% and recent monthly returns have been quite good. Let us hope this trend continues. The Canada Customs and Revenue Agency (formerly known as Revenue Canada) will allow individuals to select tax sheltering options up until the date of approval by FSCO. Therefore, for the time being we will accept late option forms. Once we have a better idea about the approval timetable, we will announce a new submission deadline. Over 3500 individuals have now responded by sending in their option forms. We still have some way to go and encourage you to submit your form. Even if you are happy to accept the cash-only default option (which will result if no response is received) it would help us if you would send in your form. Once final approvals are received, payments to those who submit forms will likely be faster than to those members who choose not to submit their forms. We appreciate the patience of plan members as we move through the final steps of the surplus pension distribution. Les Robb - on behalf of the employee groups Simon Ouellet - on behalf of the University Surplus Hotline 905-525-9140 ext.24272 e-mail surplus@mcmaster.ca

posted on March 28: New building will house molecular medicine centre, classrooms, expanded hospital services

Construction crews at the new University Centre may soon disappear but that doesn't mean construction on campus is going to end. A new project is . . .

posted on March 28: McMaster student athletes honoured at annual awards dinner

The 78th annual McMaster athletic awards banquet was held Wednesday honoring student athletes for their outstanding achievements in the 2001-02 year. Click on the Hamilton . . .

posted on March 28: Board of Governors approves campus master plan

McMaster now has a campus master plan to guide growth and change at the University for the next 30 years. The Board of Governors approved the document at its meeting yesterday (March 27). Senate approved the final campus master plan at its March 13 meeting. "We're really excited about this plan," said Karen Belaire, vice-president administration and chair of the campus plan steering committee. "There's lots of interest and a lot of excitement." Belaire said staff have begun using the plan with building projects that are now under development. Cited as a "living document," the plan provides planning principles, a parking strategy, stewardship for heritage preservation, open spaces and the natural environment, management of traffic demands and guidelines for building community partnerships. It will be reviewed annually and updated. The next steps will be to develop an implementation policy protocol and finalize a campus plan brochure. The University began developing a new campus plan in November 2000, working with Urban Strategies Consulting. The steering committee and consultants conducted extensive consultation with various stakeholders and held a visioning workshop and two open houses to gather input on the draft document.

posted on March 28: World renowned archeologist delves into Gatalhvy|k, agriculture origins

The remains of one of the oldest complex settled villages lies on the plains of central Turkey. The 9,000 year-old site, called Gatalhvy|k, has been described as "the dig of the new millennium." The project director for the Gatalhvy|k archeological excavations and research, Ian Hodder, is one of this year's Hooker Distinguished Visiting Professors. Hodder, professor and chair of the department of cultural and social anthropology at Stanford University, has written extensively on archaeological theory and the prehistory of Europe. Hodder spoke about Hybrid archaeology: archaeology, culture and society in the making of Gatalhvy|k yesterday. He delivers his second lecture, From subsistence to sex: themes in the origins of agriculture, tonight (Wednesday March 27) at 7 p.m. at the Information Technology Building, Room 137. The Hooker lectures are sponsored by the Department of Anthropology, the Faculty of Humanities, the Faculty of Social Sciences and the H.L. Hooker Endowment Fund. (End of story)

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Pension surplus update

posted on March 28: New building will house molecular medicine centre, classrooms, expanded hospital services

posted on March 28: McMaster student athletes honoured at annual awards dinner

posted on March 28: Board of Governors approves campus master plan

posted on March 28: World renowned archeologist delves into Gatalhvy|k, agriculture origins

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