Summer 2024 -- in HTML / in PDF / in accessible PDF

Greetings fellow MURA members,
 
Annual Pension adjustments (if any), effective January 1, 2024, calculated in accordance with the provisions of the Pension Plans, will be as follows:
 
For retirees of the Salaried Pension Plans

• for those retirees of the Salaried Pension Plan who are members of Unifor hired on or after May 1, 2010, the increase will be 0.35% since the 5 year average rate of return was 5.35%. This is above the 5% required to receive an increase.  
• for other retirees of the Salaried Pension Plans, the increase is 0.85% since the 5 year average rate of return was 5.35%. This is above the 4.5% required to receive an increase.
• Details can be found at: https://hr.mcmaster.ca/pensioner-increase-calculation-salaried-pension-plans.

For retirees of the Hourly Pension Plan

• for retirees of the Hourly pension plan, there is no increase since the 5 year average rate of return was 5.55%. This is below the 6.0% required to receive an increase.
• Details can be found at: https://hr.mcmaster.ca/pensioner-increase-hourly-pension-plan.

The increases are calculated based on the Annual Pension Increase provisions of the Pension Plans. The calculations are validated by an external auditor, KPMG, and approved by the Board of Governors.
 
Your MURA Council

If you would like to write a piece for the Members’ Corner section of MURAnews please contact a member of the team at muranews@mcmaster.ca.
 
Mac retirees live coast-to-coast and we want to hear what you are doing, what interests you, what you think fellow Mac retirees should know about our/your community. Any and all ideas entertained. The MURAnews Editor will contact you about upcoming deadlines for submission of material for the next issue.

• Are you a gardener with tips for dividing perennials or overwintering tubers and bulbs?
• Have you recently read a book(s) or watched a series that you would like to share with others?
• Are you a keen cook with new and interesting recipes to share?
• Have you found some new fun and innovative ways to occupy yourself during the pandemic?
• Have you ideas for safe social activities or hobbies that we can share?

If nothing else, this pandemic has taught us the importance of staying connected so, please, reach out and share your experiences with fellow retirees who would love to hear from you. Articles can be submitted to MURA at any time for our Members’ Corner.
 
Finally, if you have any photos of your activities and/or hobbies, please share them so that we can include some in MURAnews.
 
Thanks for considering.  We look forward to hearing from you.