As a defined contribution pension plan, the Casual Employees' Superannuation & Elected Officials' Money Purchase Pension Plan provides eligible members with a retirement income based on the accumulated total of member and employer contributions, plus the earnings associated with those contributions.
Some of the benefits of belonging to the Plan include:
- an individual account credited with the member's contributions and those paid by the
City on behalf of the member, together with interest;
- termination benefits; and
- survivor benefits.
The Plan represents City of Regina casual employees who are members of the Collective Agreement between the City of Regina and the Canadian Union of Public Employees, Local No. 21, and Elected Officals of the City of Regina.
The administration of benefits for this Plan is performed by Industrial Alliance Insurance and Financial Services Inc. If you have questions regarding your pension, please contact them.
Plan membership includes active members who are still working and contributing to the Plan, and inactive members who are no longer contributing to the Plan but are entitled to receive benefits upon retirement.
Assets of the Plan are actively managed in accordance with the Statement of Investment Policies and Procedures.
Asset Class Allocation at December 31, 2019:
The Plan is governed by a Board of Trustees made up of four voting members; three persons to be appointed by the City Manager, and one member of City Council appointed by the Finance and Administration Committee of the City of Regina.
The current Board members are:
Councillor Wade Murray
The Plan is subject to the requirements of The Pension Benefits Act, 1992 (Saskatchewan), The Pension Benefits Regulations, 1993 (Saskatchewan), and The Income Tax Act.