Group Benefits for Full-time Faculty (Article 31)
The Nipissing University Pension Plan for Full-time Faculty (Article 32)
Pension and Benefits Advisory Committee 2017-2018
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- Cheryl Sutton, Chair
- Jenny Mackie, Co-Chair
- Pauline Teal, Support Staff Representative
- Paul Courville, Support Staff Representative
- Casey Phillips, Administration Representative
- Christine Dowdall, Administration Representative
- Darren Campbell, Faculty Association Representative
- Mark Wachowiak, Faculty Association Representative
- Larry Patriquin, Senate Representative
- Dana Murphy, Senate Representative
Minutes
Reports to the Membership
Pension Discussion Paper #1, June 2016
Pension Discussion Paper #2, August 2016
Pension Presentation – Sept 2016
CAAT presentation to NUFA – October 2016
Pension Presentation – April 2017
DBplus CAAT Pension Option – September 2018
In response to questions at the Special Meeting on Pensions on April 24, members in the Nipissing University Pension Plan may find the following links helpful. For each of these online tools, you can change the variables (rates of return, age of retirement, etc.) to see how outcomes would change.
1. CAAT Pension Estimator (Get an estimate of your lifetime pension from the CAAT Plan in three easy steps.):
2. CAAT Actuarial Cost Estimator (Input a few pieces of information, such as your current age, current service and salary, and this online tool will provide an estimate of the cost of purchasing years of service.):
3. Annuity Calculator (This will let you know what your guaranteed retirement income could be with an RBC® Payout Annuity. In the calculator, click “Joint Life Annuity” if you have a spouse. Note that no additional amounts are added each year to the annuity amount to account for inflation.)
4. Inflation Calculator (scroll down a bit to see it.) This calculator will let you you know what, say, $50,000 will be worth in today’s dollars, say, 30 years from now. Put 1.8% as the inflation rate (that’s roughly the average inflation rate in Canada over the last quarter-century).
5. RRIF Payment Calculator (Use to calculate payments in a Life Income Fund and how long those payments might last. I suggest a conservative 4% for the rate of return, but use other rates of return as well, to see how the projections change):
6. Income Tax Estimator (Click on 2017 as the year and 65 to 69 as the age, if you are trying to forecast what your taxes might look like in retirement):