Regina workers submit proposal on troubled civic pension plan

The group representing employees who are part of the troubled civic pension plan in Regina have presented their ideas on how to fix the plan which has fallen into a significant deficit.

Officials who oversee pension plans in Saskatchewan have threatened to wind up Regina's pension plan unless a number of issues, including the deficit and rules on how the plan is governed, are changed.

Employees, retirees and employers were invited by officials to submit ideas on possible solutions.

• Regina submits proposed fix for troubled pension plan

The response form the employee group was released Monday and includes a reaffirmation that employees want to see a defined benefit plan continue.

"Our proposal protects the defined benefit nature of the plan while offering stable rates for employees," Kirby Benning, chair of the committee that represents employees, said in a statement included with the release.

Benning added their proposal includes details on governance changes to address specific concerns of Saskatchewan's Superintendent of Pensions.

The pension plan covers several thousand workers, active and retired, in Regina including:

• City of Regina employees: 2,936
• Certain Regina Board of Education employees: 999
• Certain Regina Qu'Appelle Health Region employees: 2,448
• Regina Public Library employees: 324
• Buffalo Pound Water Treatment Plant employees: 41

[Source: City of Regina]

The Superintendent of Pensions said interested groups will have until the end of December to comment on submissions.

The Employee Groups also provided an Executive Summary of their proposal, attached here:

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