TRAMTelephone Retirees Association of Manitoba

Retiree Pension Reps Report on the MTS DB Pension Plan

 

April 23, 2018

 

Retiree Pension Reps Report on the MTS DB Pension Plan

To TRAM Members. 

 

DB Pension Committee

The last Pension committee meeting was November 28th, 2017

 

The Pension Fund Investment management has been transferred from MTS to Bimcor Inc. a BCE wholly owned asset management firm.  BCE’s total Pension funds are approximately $24B of which the MTS plan is approximately $2B.  As of September, plan return was 6.8% and the performance objective is 4.9% for the year. 

 

The next pension committee meeting is scheduled for late June, 2018.  

 

DB Pension Surplus Implementation Committee

The Pension Surplus Implementation Committee met on November 28th, 2017 to provide a status update to the committee members on the Surplus Distribution.  An audit of outstanding surplus payment files was completed and a small number of files were flagged incorrectly (less than 10) which has now been corrected and paid out. 

 

There remains approximately $1.32M in undistributed surplus meaning that 99% of the funds have been distributed with 1% remaining. 

Approximately $157K for 100 members must be kept in the plan in trust for Unlocated Members such as Retired Members, Beneficiaries or Deferred Members.  All other Unlocated Members who are Exited Members entitlement to any Surplus is extinguished as per the court approved Surplus Implementation agreement. 

 

Please direct any questions to the MTS Pension Plan website - contact us https://mtspensionplan.ca/#contactus

 

Yours truly,

 

J. Larry Trach

Retiree Representative

MTS DB Pension Committee

Larry.Trach@TRAMinfo.com