pension

STF Council Passes Resolution to Prevent “Double Dipping” for LEADS and STF Staff

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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.

STF Webinar: Teachers In Their First Five Years

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On February 24th, the STF is hosting a free Zoom webinar for all teachers in their first to fifth year in Saskatchewan. This will be an opportunity to share important information on the pension and benefit plans, while also giving you an opportunity to network and ask any questions you may have. The webinar will be facilitated by Troy Milnthorp, STF Senior Managing Director, Corporate Fund Services.

There will be 2 Zoom sessions on February 24th at 4pm and 7pm.  Registration is not required.

Go to the STF Website to join the sessions.