On Friday, October 28, councillors voted in favour of the following resolution:
BE IT RESOLVED that beginning July 1, 2023, the STRP Plan Text be amended to prohibit LEADS and STF staff positions from collecting a monthly pension from the STRP during periods of re-employment as LEADS and STF staff, and to require that those members suspend their monthly pension and re-enroll as regular contributors to the STRP for the duration of their re-employment as LEADS or STF staff members.
Double dipping for a short period of time (i.e., six months), does not have a significant cost to the plan, however, some school boards have used this flexibility as a recruitment and retention tool at the expense of the plan. In some cases, we have members double dip in excess of eight years, usually in senior positions, which has had a significant cost to the plan. STRP has approximately 175 to 200 members double-dipping annually, including 12 LEADS and Federation staff members.
This change does not apply to teachers who give early notice of superannuation and are able to retire and collect pension for a defined period of time. The change only applies to LEADS and STF staff members.