D.A. Townley  -  Plan Administrators Iron Workers Union Local 97 International Association of Bridge, Structural, Ornamental and Reinforcing Iron Workers 
 

pension
plan

        
 
 
 
 
     
   
 
 
 
 
 
 

Misc. Information

  1. How are the Pension Funds invested?
  2. Can the Trustees change the Plan?
  3. Will I receive a Statement of my benefits from time to time?
  4. To whom should other questions and inquiries be directed?
  5. What should I do if I become divorced or legally separated from my Spouse?
  6. How is the Plan run?
  7. What is I previously worked for Ironworkers Local 97 and am now re-employed?
  8. How can I learn more about Government provided pension?
18. How are the Pension Funds invested?
The Funds are invested in securities authorized by law for investment of Registered Pension Trust Funds with the objective of obtaining the best possible returns consistent with sound investment policies. The Trustees regularly review the results achieved by the professional money managers and, from time to time, they make changes in managers.



19. Can the Trustees change the Plan?
Yes. The Trustees are empowered and may from time to time change, modify or alter the Plan in any respect.

The Plan must always comply with applicable federal and provincial legislation.



20. Will I receive a Statement of my benefits from
time to time?
Yes. The Trustees will issue statements annually through the office of the Administrator provided that you keep your address up to date with the Plan Administrator.



21. To whom should other questions and inquiries be
directed?
The Board of Trustees have appointed D.A.Townley as the Administrator of the Fund to receive contributions from the employer on behalf of the Trustees and to maintain all necessary records. Any questions can be directed to them.



22. What should I do if I become divorced or legally separated
from my Spouse?
The Family Relations Act sets out the rights of your Spouse to share in your pension benefits, and imposes responsibilities on the Trustees and the Administrator. 

Should you find yourself in this situation, it is strongly recommended that you get legal advice. The Plan will charge you and/or your Spouse for reasonable costs for complying with the separation or divorce agreement, a copy of which must be filed with the Plan if your benefits are affected.


 
23. How is the Plan run?
The Trustees interpret the Plan, provide certain guidelines to the Plan Administrator, Custodian, Investment Manager and Actuary as well as oversee the running of the Plan.

The Plan Administrator (currently D.A. Townley) administers the Plan by keeping records of service and contributions and by calculating pensions and benefits under the Plan.

The Custodian of assets (currently RBC Global Services) holds the pension fund assets and invests them following instructions from the Investment Manager. All contributions are made to the custodian, and all pensions and benefits are paid by the custodian.

The Investment Manager makes investment decisions within guidelines and objectives set by the Trustees.

The Consultant (currently D.A. Townley).

The Actuary makes periodic estimates of pension fund surpluses and deficits, and provides direction and advice to the Trustees. 

The Plan is subject to rules for registration under the Income Tax Act (Federal) and the BC Pension Benefits Standards Act (Provincial) and is subject to change from time to time when those rules change.



24. What if I previously worked for Ironworkers Local 97 and am now re-employed?
If as a result of a previous termination of membership from the Plan you were entitled to receive benefits from the Plan but elected to not withdraw the value of them, you will be immediately vested for additional benefits upon returning to work. However, if you withdrew your funds from the plan then you will be treated as a new employee and have a new vesting period.



25. How can I learn more about Government provided pensions?
You can phone the Government of Canada Income Security Programs at 1-800-277-9914 or you can obtain the information on-line via their web site.

If you would like further information on your Old Age Security (OAS) benefits, please visit http://www.hrsdc.gc.ca/en/gateways/topics/ozs-gxr.shtml.

If you would like further information on your Canada Pension Plan (CPP) benefits, please visit http://www.hrsdc.gc.ca/en/gateways/topics/cpr-pip.shtml.


 
 


Form Link
Marital Breakdown Forms
 

related Links
Printable Version of the Pension Plan Booklet

 
© 2000-2008 D.A. Townley All rights reserved.