• OPTrust Introduces New Booklet on Buying Back Credit
  • Distribution
  • Revised Buyback Application Form (OPTrust 1036)
• Coming soon… New Booklet on Divestments, Updated Plan Booklet
• Ordering OPTrust Booklets and Forms

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OPTrust Introduces New Booklet on Buying Back Credit

OPTrust has developed a new booklet for members who are interested in purchasing, or “buying back,” credit in the OPSEU Pension Plan.

Your Pension and Buying Back Credit is the latest in OPTrust’s series of easy-to-read booklets about the Plan. The booklet describes

• the benefits of purchasing credit
• the key steps in the buyback process
• the Plan’s 24-month application deadline
• the types of service members can purchase
• the costs, payment options and payment time limits
• the tax implications of buying back credit.

It also includes a number of detailed examples, answers to frequently asked questions and a glossary of common pension terms.

The new booklet features a pocket inside the back cover, which contains a copy of OPTrust’s newly revised Application for Past Service Credit (OPTrust 1036) form and a separate Checklist, designed to give members a quick overview of the steps in completing their purchase.

Distribution
OPTrust will distribute copies of Your Pension and Buying Back Credit to members through a variety of channels:

• The booklet will be included in the information kits OPTrust sends to all newly enrolled members.
• It will be available at OPTrust’s Pension Information Sessions for members.
• It is available on OPTrust’s Web site in the "Publications listing" section. The booklet is currently posted in PDF format only, with an HTML version to be added shortly.
• Finally, members can request copies by contacting OPTrust by e-mail or calling our Member and Pensioner Services line at (416) 681-6100 or 1-800-637-0024.

Employers and their benefits and human resources staff can also order copies of the booklet, to make available to their employees. (See below for ordering information.)

The new booklet replaces our previous fact sheet Purchasing Past Service Credit (“Buybacks”), which is now out of date. Please destroy any copies of the fact sheet that you may have in stock.

Revised Buyback Application Form (OPTrust 1036)
OPTrust’s Application for Past Service Credit (OPTrust 1036) form has been revised and updated. Single application forms are included with each copy of the new booklet.

An easy-to-use online version of the form is also available in the Members section of the OPTrust Web site under “Download forms.”  Members can simply fill in the form and print it out from their own computers. Members can also request print copies of the form by calling OPTrust Member and Pensioner Services.

Employers can order the OPTrust 1036 form in packets of 25. (See below for ordering information.) The revised 1036 form (dated 01/03) replaces the previous version of (dated 05/99), which is now out of date. Please destroy any copies of the previous 1036 form that you may have in stock.
 

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Coming soon… New Booklet on Divestments, Updated Plan Booklet

In April, OPTrust will be introducing another new booklet: Your Pension and Divestments. Developed in response to member requests, the new booklet provides information on the divestment process, its impact on affected members’ pensions and their available options.

Also nearing release is a revised version of OPTrust’s plan booklet, It’s Your Pension. The revised plan booklet has been updated to reflect recent changes to the OPSEU Pension Plan, including the temporary and permanent benefit improvements and the extended contribution reduction recently implemented as a result of funding gains in the Plan.

Both booklets will be available to individual members in print and on our Web site. As with OPTrust’s other publications, employers will be able to order copies of both booklets online or by telephone. (See below for ordering information.)
 

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Ordering OPTrust Booklets and Forms

Human resources and benefits representatives can order multiple copies of OPTrust’s booklets and forms online through the Employers section of the OPTrust Web site, under “order paper forms and publications.” Simply select the form or publication you need, fill in the quantity you require, enter your contact information, and submit your order online.

Orders can also be placed by fax or mail. Contact Fiona Bradford, OPTrust’s Administrative Services Coordinator, at fbradford@optrust.com, (416) 681-3003 or 1-800-906-7738, ext. 3003, to obtain hard copies of OPTrust’s order forms for publications and forms.
 

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