Update from OPSEU on long-term plans for disposition of $2.2 million in wind-up funds.
Toronto (7 Oct. 2010) - Last March the Ontario Public Service Employees Union (OPSEU/NUPGE) received a cheque for $2.2 million in respect of the wind-up of the Simcoe County District School Board Insurance Trust.
This money has been deposited in a trust account overseen by OPSEU.
"In keeping with OPSEU's long standing intention of returning these monies to the members, OPSEU has retained a national benefits consulting firm, Morneau Sobeco Income Trust, and a class-action settlement administrator, NPT RicePoint Class Action Services," the union says in an update posted on its website.
"Morneau Sobeco will obtain member-specific data from Sunlife and will develop an objective methodology to determine eligibility for payment," the union adds.
"NPT Ricepoint is the administrator who will administer a claims process and determine individual entitlements based on claims made and verified by the Sunlife Financial data. OPSEU will be seeking judicial approval of these processes through a court application sometime in the new year."
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The National Union of Public and General Employees (NUPGE) is one of Canada's largest labour organizations with over 340,000 members. Our mission is to improve the lives of working families and to build a stronger Canada by ensuring our common wealth is used for the common good. NUPGE
Simcoe County District School Board Insurance Trust