Watch for your Member's Annual Statement in the mail
(April 29, 2015)
Active Plan members were mailed the Spring 2015 Newsletter and their Member's Annual Statement this week. When you receive your statement review it carefully as it includes important information including your designated beneficiaries, pension estimates and a summary of the benefit entitlements you have earned up to December 31, 2014. For more information, check out our online guide to understanding your Member's Annual Statement. Members will be able to access their 2014 statement online, through SHEPPWeb next week.
Deferred Member Annual Statements in the Mail
(March 24, 2015)
SHEPP's deferred members were recently mailed their 2014 Annual Statement and 2015 Deferred Member News. Active members will be mailed their 2014 Annual Statement and newsletter at the end of April.
Pensioner Newsletter and Payment Schedule for 2015
(January 28, 2015)
SHEPP pensioners were mailed their Pension Payment Confirmation Statements and the 2015 Pensioner Newsletter this week. The newsletter includes an update on SHEPP's funded status as well as this year's Pension Payment Schedule.
In conversation with SHEPP's Board Chair, Jim Tomkins
(December 17, 2014)
We recently caught up with long standing member and current Chair of SHEPP's Board of Trustees, Jim Tomkins, to discuss his thoughts on the Plan and what's on the minds of Plan members. Read more.
Valuation determines contribution rates will stay the same
(December 10, 2014)
The latest Plan valuation, completed as at December 31, 2013, showed a decrease in the Plan's deficit and an improvement in the going-concern funded status. Contribution rates will remain the same and, all else being equal, the Plan is on track to pay off its unfunded liability by 2025. Read more about the 2013 Valuation results in the December 2014 edition of Member News.
Terminating members who transfer out lump-sum may be subject to holdback
(December 10, 2014)
While SHEPP's funding requirements and contribution rates are determined by the going-concern valuation, a solvency valuation is also performed to determine the solvency ratio used to calculate transfer deficiency holdbacks. The December 31, 2013 valuation determined that the Plan's assets are 73% of liabilities on a solvency basis, therefore certain terminating Plan members will have a 27% transfer deficiency holdback applied for five years following the date of initial lump-sum benefit payment from SHEPP. Read more about how the transfer deficiency holdback might affect you in the new Termination of Employment Information Sheet.