Following the most recent pension committee meeting, held on September 15th, 2010, we would like to report to members that the Hourly Pension Plan, like most others, continues to struggle on the financial market with many ups and downs. Even though the Hourly Plan is performing ahead of many other pension plans, the university is contributing to the Plan at a considerably higher level than usual to keep the Plan well funded, and it may have to go higher yet.

McMaster University assures the members of the Hourly Pension Plan, and the other pension plans within the university, of its commitment to keep the plans solvent, thus guaranteeing pensioners will continue to receive their earned entitlements.

It is regrettable that, in these stressed times, we do not foresee any plan improvements but we do look forward to better times ahead.

With this in mind, MURA looks forward to seeing all pensioners at the Christmas Lunch on December 6th (booking form on the last page of this newsletter) or at one of the other events announced in your copy of MURAnews.

I look forward to meeting my colleagues at these events.

Sincerely
Cliff Andrews,
MURA Observer on the Hourly Pension Plan
Retirement Committee