NCBAA Trust Fund Communiqué
To: Members of the NCBAA
Subject: Retiree Benefits
As you will recall, earlier this year, the NCBAA unanimously agreed to undertake voluntary post retirement health care benefits through the NCBAA Trust for those who retire after January 01, 2010.
The Trustees are pleased to advise you that we have concluded negotiations to secure post retirement health care benefits.
Health Care benefits will be supplied by Sun Life under contract to the NCBAA Trust. The benefits contracted for are identical to the benefits currently supplied to retirees through Nav Canada.
Currently retiree benefits offered by our company are voluntary. Our new plan will also offer voluntary membership.
Benefit levels and cost sharing arrangements (currently 60% paid by employer and 40% paid by retiree) will be continuously reviewed by the trustees to ensure the most cost effective and enduring benefits possible are provided by the Trust.
In our efforts to make this as seamless as possible for our members, work is underway to produce an electronic benefits guide that will look and behave, as much as possible, like the online guidelines currently in use and accessible via the NCJC site. Application forms will be provided to Nav Canada for inclusion in retiree packages forthwith and payment of premiums will be made via direct pension deduction. All of these features are provided today to retirees.
Thank you for your patience while this major undertaking has been underway. We can now say with certainty that the program will be ready for use on January 01, 2010.