• Factor 80 option extended to October 31, 2002
• Factor 80
• "Surplus Factor 80"
• Bridge to Retirement
• Updated Strike Q&As

Printer Friendly Version: PDF

Factor 80 option extended to October 31, 2002

The OPSEU Pension Plan has been amended by our Plan Sponsors. OPTrust's plans for implementing the amendment are outlined in documents on this Web site.

Factor 80
The voluntary Factor 80 provision is extended until October 31, 2002 for all members who qualify.

In early June, OPTrust will send a letter to all members, shown on our records as qualifying for the voluntary Factor 80 provision. The associated time lines and details of the provision are available on the OPTrust Web site. The personalized letter we will send to those members who qualify is attached.

 "Surplus Factor 80"
The new amendment also extends the availability of the Surplus Factor 80 for members who receive a layoff notice from their employer. This provision applies to members who receive a layoff by December 31, 2004 and who have reached Factor 80 or passed their Factor 80 eligibility window.

Bridge to Retirement
Bridging can be used to become eligible to receive a pension. A laid off employee can take a series of paid and unpaid leaves of absence (to a maximum of two years) to attain an available unreduced retirement pension at the end of the leaves. The bridging option is also available to December 31, 2004.

Updated Strike Q&As
The updated strike Question and Answer document provides members with key dates and information regarding their strike buyback.

This employer update is intended to provide participating employers with news and information about the OPSEU Pension Plan. It does not create any rights to benefits not provided for in the actual terms of the Plan. In the event of any conflict or omission, the legal documents of the OPSEU Pension Plan will govern in all cases. Members who have questions about their pension benefits should contact OPTrust directly.

Return to top of page