We are writing to update you on a number of important items.
1. Salary Parity Adjustment
The Union and the Employer haveconfirmed that this year’s salary parity adjustment for members continuing at Trent in 2021/22 will be 0.83%. Consequently, the value of all steps on the salary scale will increase by 0.83% effective one minute before midnight on June 30, 2021. This change, along with annual step progression, should be reflected in members’ July 16th pay (covering the period June 27 to July 10). TUFA has posted the revised pay scale to our website.
2. Pension Benefit
The University and TUFA agreed in the last round of negotiations to join the new University Pension Plan (UPP) effective January 1, 2022. As explained to members as part of the ratification process, one implication of that change was to eliminate the 24 month waiting period for LTAs to participate in the Contributory Pension Plan for TUFA Employees of Trent University (“the Plan”). Instead, we negotiated to have LTAs treated on the same basis as all other member for purposes of the Pension Benefit. As we approach the January conversion date, TUFA and the Employer are working to harmonize plan provisions with the UPP and we have signed a Memorandum of Agreement with the Employer that brings continuing LTA members into the Plan in advance of that conversion. This will not result in any change for LTAs who have already joined the Plan. Those who have not, however, will begin making pension contributions and accruing pension entitlement either on the date their new contract begins or September 1st depending on the specifics of their situation.
a) LTAs re-hired on or after July 1, 2021, will participate in the Plan effective the date on which their new LTA appointment commences;
b) LTAs whose current appointment continues beyond December 31, 2021, will begin participating in the Plan effective September 1, 2021.
Pension contributions are paid on a pre-tax basis and are 9.2% up to the yearly maximum pensionable earning threshold ($61,600 in 2021) and 11.5% on gross income in excess of the YMPE. For a member earning $100,000 the blended rate would be just under 10.1% of gross salary with the University also making contributions in respect of the benefits earned. Effective 1 January 2022, all members enrolled in the Plan will become members of the UPP. Members new to the Plan should be aware that the combination of advancing a step on the salary grid, receiving the salary parity adjustment, and beginning to make pension contributions on a pre-tax basis may result in a net reduction to biweekly pay from June 2021 to July 2021. Members should also expect to receive additional communications from the Employer in the coming weeks about enrolling in the Plan.
3. COVID Extensions
In addition to adjusting a number of administrativedeadlines, the parties agreed to extend several other COVID-related adjustments from last year.