In addition to the new deal on pension surplus sharing and the supplemental health care plan agreement, which we reported on separately, there are a couple of other highlights from the June meeting of the Consultative Committee on Staff Benefits.
This fall, we’ll be paying a bit less for our long term disability coverage. The rate that employees pay will drop to 1.55% of salary from the current 1.70%. The new rate will come into effect on Oct. 1, 2008. While the financial condition of the plan has improved, we still have a total of 300 people on LTD as of May 31, our highest number since 2006.
The CCSB will continue to support the Corporation’s influenza vaccination program this fall. We will split the cost of on-site vaccinations up to $25,000. That’s on par with what we spent last year, when more than 2,500 CBC employees got vaccinations while on the job.
We also received our annual update on the CBC Pension Plan from the managing director/CEO, Debra Alves. The plan continues to show a healthy position despite volatility in financial markets. The pension board has just sent out the annual highlights summary to all plan members. It’s worthwhile giving it a read to understand more about your pension plan.
Your members at the June meeting: