timewisefall • 2001 fall • 2001 · office administrator (part-time) – joanne anderson...

INSIDE:

2001 YEAREND PENSION PLAN CONTRIBUTIONS

2002 EMPLOYEE DELEGATE NOMINATION FORM

INSIDE:

2001 YEAREND PENSION PLAN CONTRIBUTIONS

2002 EMPLOYEE DELEGATE NOMINATION FORM

FA L L • 2 0 0 1FA L L • 2 0 0 1

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You are unique......so are your retirement needs!There are many different factors to consider whenplanning your retirement - flexibility, convenience andsecurity to name just a few. Knowing your options isimportant in helping you decide what’s best for you.

What do all the letters mean?GIC - Guaranteed InvestmentsLIF - Life Income FundLIRA - Locked-In Retirement AccountLRIF - Locked-In Retirement Income FundRPP - Registered Pension PlanRRIF - Registered Retirement Income FundRRSP - Registered Retirement Savings Plan

A Choice That’s Right for You and Your Family!Plan Source Investment Length of Can I Change Lump SumType of Funds Options Plan My Payments Withdrawals

RRIF RRSP GICs Choice of Life, Yes (annually) YesRPP (unrestricted funds) Mutual Funds* Specified Amount

Self-Directed Plans or Specified Term

LIF RPP (restricted funds) GICs Age 80 - plan Yes (annually) NoLIRA/Locked-in RRSP Mutual Funds* converts to LifeLRIF Self-Directed Plans Annuity or LRIF1

1in certain jurisdictions

LRIF RPP (restricted funds) GICs Life Yes (annually) NoLIRA/Locked-in RRSP Mutual Funds*LIF Self-Directed Plans

Annuity RRSP N/A Life or Can be indexed NoQuotation Service RPP Guaranteed Period to allow for

LIF inflation

Note: LIF/LRIF products are governed by provincial legislation and vary by province. Contact your plan administrator for further details.

Learn More!To learn more about which plan fits your retirement needs, attend a CSS Pension Planretirement seminar – they’re a great way to explore all your choices – or contact the experts atCo-operative Trust.

Toll Free: 1-800-788-6311

Web site: www.co-operativetrust.ca

* Mutual funds are offered through Credential Asset Management Inc., a wholly-owned subsidiary of Credit Union Central ofCanada. Unless otherwise stated, mutual fund securities and cash balances are not covered by the Canada Deposit Insur-ance Corporation or by any other government deposit insurer which insures deposits in credit unions. Mutual funds are notguaranteed, their values change frequently and past performance may not be repeated.

CO-OPERATIVE TRUSTCOMPANY OF CANADA®

CONTENTSSPECIAL FEATURESCanada Pension Plan -

Retirement Pension 8

Legislation Update 10

Board of Directors

President – Peter Zakreski

Vice-President – Don Pavelick

Directors – Wayne King

Jeanette Kirchner

Don Russell

Gerry St. Pierre

Staff

General Manager – Bill Turnbull

Investment Manager – Eldon Braun

Accounting/Investment Officer – Joel Sawatsky

Member Services Manager – David Kapeluck

Information Officer – Muriel Baribeau

Systems Administrator – Vaun John

Office Administrator – Fiona May

Office Administrator – Bonnie Ralston

Office Administrator (Part-time) – Joanne Anderson

TimeWiseTimeWise is published at least twice a year by the Co-operative Superannuation Society Pension Plan (registrationno.0345868), Box 1850, Saskatoon, Saskatchewan S7K 3S2. Phone (306) 244-1539.TimeWise is the official publication of the Co-operative Superannuation Society Pension Plan and is provided freeto all active contributing members of the Pension Plan through the Pension Plan’s member organizations and to allretired members of the Pension Plan.Opinion and comment expressed in TimeWise does not necessarily reflect the official policy of the CSS Pension Plan.This issue of TimeWise is printed on RESOLVE COATED GLOSS which contains 50% recycled fibre of which aminimum of 15% is post-consumer waste.FALL, 2001 Volume 24, Number 2

FEATURES2 2001 Yearend Pension Plan Contributions

3 News Briefs

4 Operations Update

6 Wanted

9 Attention Terminating & Retiring Employees!

11 Attention Pensioners!

14 “I Know That!” Contest

REGULAR COLUMNS7 In Remembrance

12 New Pensions

15 Election of Employee Delegates

16 Nominee Questionnaire

2 TimeWise • Fall 2001

YEAREND PROCEDURES FOR 2001 PENSION CONTRIBUTIONS

Attention Managers andPayroll DepartmentsContribution Deadline for 2001

Please be advised that the deadline for2001 contributions to the CSS Pension

Plan is Friday, January 11, 2002. The CSSPension Plan must receive the final pensioncontributions for 2001 by this deadline inorder to be included in the Pension Plan’s2001 records and thus appear on theemployees’ 2001 Annual Statements.

Any pension contributions for 2001received after January 11, 2002 will beincluded in the Plan’s 2002 records andtherefore will not be reflected on theemployees’ 2001 Annual Statements. Whenthis occurs, there is a difference betweenthe contribution amount shown on anemployee’s 2001 Annual Statement and thepension contribution amount shown onhis/her T4 slip for 2001. Such differencescan cause confusion for employees, as theymay not be sure whether all of their pen-sion contributions have been credited totheir pension account.

Remitting ContributionsThe CSS Pension Plan calculates the

income allocation paid to members’accounts starting the date the pensioncontributions are received by the Plan.Therefore, it is extremely important thatall pension contributions be remittedimmediately following each pay period.

Managers and payroll departmentsshould also keep in mind that governmentpension legislation generally states that allcontributions must be remitted to thePension Plan within 30 days of beingdeducted from an employee’s pay. Thus, anydelays in remitting pension contributionsto the Plan, may not only be contrary to

pension legislation, but also reduces theincome allocation (i.e., “interest”) onthose contributions.

CSS Pension PlanRegistration Number andT4 Information

The CSS Pension Plan’s RPP registra-tion number is 0345868. This numbermust be indicated in “Box 50 - RPP orDPSP Registration Number” on allemployee members’ T4 slips.

The amount reported in “Box 20 - RPPContributions” on an employee’s 2001 T4slip must include the combined total of

the employee’s 2001 regular required pen-sion contributions, plus any employeeadditional voluntary contributions madeto the Pension Plan for 2001. (Amountscontributed by the employer are notincluded in Box 20).

Employers must report the 2001Pension Adjustment (PA) amount in “Box52 - Pension Adjustment” on all employeemembers’ T4 slips for 2001. The 2001 PAamount is the combined total of allrequired (matched) employee andemployer contributions, plus any employ-ee additional voluntary contributions,plus any voluntary employer contribu-tions for 2001. In other words, the amountreported in Box 52 of an employee’s 2001T4 slip includes ALL 2001 contributionsto the Pension Plan made by and on behalf

of the employee in 2001. Canada Customsand Revenue Agency (CCRA) uses the2001 PA amount when calculating theemployee’s 2002 RRSP contribution limit,which is reported on the employee’s 2001Notice of Assessment from CCRA (the2001 PA amount reduces the amount thatan employee could otherwise contributeto an RRSP for 2002).

Pension AdjustmentReversal (PAR)

If an employee member terminateshis/her employment before obtaining vest-ing (i.e., ownership) of the employer con-tributions, and subsequently withdrawshis/her own employee contributions fromthe Plan, the employer contributionsmade on his/her behalf are forfeited.(Vesting is obtained after completing twoyears of continuous working service).

Such forfeited employer contributionsare reported as a PAR in order to re-estab-lish the employee member’s RRSP roomthat would otherwise be lost. The CSSPension Plan is required to submit PARsfor the appropriate employee members toCCRA, thus no action is required by theemployer members.

CSS Pension PlanContribution limit for 2002

For 2002, the CCRA maximum pen-sion plan contribution limit for employeemembers of defined contribution pensionplans, such as the CSS Pension Plan, is theLESSER of:

• 18% of the employee’s compensationfor the year, or

• $13,500 (the maximum dollar limit for the year).

Please note that this limit is the same asthe 2001 limit. The maximum dollar limitis expected to increase to $14,500 for 2003.

Continued on page 6.

Any pension contributions for 2001

received after January 11, 2002

will be included in thePlan’s 2002 records.

TimeWise • Fall 2001 3

NEWS BRIEFS

Don Pavelick (employee delegate) fromHy-Line Credit Union in Winnipeg

was re-elected to the board by acclamationfor a three-year term at this year’s AnnualMeeting on March 16, 2001 in Saskatoon.The other two employee delegates on theboard are Gerry St. Pierre of Barrhead Co-op in Barrhead, AB and Jeanette Kirchnerof Calgary Co-op.

Peter Zakreski (employer delegate)from Federated Co-operatives Limited inSaskatoon was also re-elected to the boardby acclamation for a three-year term at thisyear’s Annual Meeting. The other twoemployer delegates on the board are DonRussell, a director for Federated Co-op,and Wayne King of Co-operative TrustCompany in Saskatoon.

Board of Directors Update

The CSS Pension Plan launched theRIO workshop in the fall of 1995. The

31/2-hour RIO workshop is designed formembers and their spouses who areapproaching retirement. The workshopprovides a wealth of information withrespect to the retirement income optionsfor their funds in the CSS Pension Plan. Italso includes information on the nature ofthe financial planning process and how tochoose a financial planner.

Since 1998 MemberCare has assistedthe CSS Pension Plan by presenting theFinancial Planning section of the RIOworkshop. Beginning this fall, however,

the CSS Pension Plan has decided toassume responsibility for the presentationof a newly revised Financial Planning sec-tion of the workshop.

The former and current MemberCAREpersonnel who have participated in theRIO workshop, namely Peter Loran, MikeTourond, Len Mueller and SereseSelanders, have each done a commendablejob. The CSS Pension Plan would like toextend its appreciation to MemberCAREfor its involvement in the Pension Plan’sRetirement Income Options (RIO) work-shop over the past three years.

Thanks MemberCARE!Congratulations to the 10 lucky win-ners of the Spring 2001 “I Know

That!” contest. Each winner has eitherreceived a copy of Diane McCurdy’s book“How Much is Enough?” or Sandra E.Foster’s book “You Can’t Take it WithYou”. The 10 lucky winners whose nameswhere drawn at random on May 7, 2001are: Bev Campbell, Saskatoon, SK; AndreDesrochers, Winnipeg, MB; Shirley Gow,Vauxhall, AB; Jean Hartman, Maidstone,SK; Peter Neufeld, Boissevain, MB; VernaOrlesky, Westlock, AB; Brenda Peterson,White Fox, SK; Joan Schaubel, Welland,ON; Brent Smith, Prince Albert, SK; BevStraza, Williams Lake, BC. The crosswordpuzzle solution for the Spring 2001 con-test is as follows:

Across:2. Twelve candidates were nominated for the sevendelegate positions in the Saskatchewan region.

4. The Plan’s income allocation rate in the year2000 demonstrated the strength of the Plan’sdiversified asset mix and “balanced” approach intimes of weaker equity returns.

6. Effective January 1, 2001 Canada’s income taxsystem changed such that the federal income taxand your provincial income tax are now calculat-ed separately.

8. At the end of 2000, 48.4% of the Non-RetiredLives Portfolio was in fixed income investments.

9. No member information is collected or used bythe CSS Pension Plan (or disclosed to third par-ties) for other than plan administration purposes.

10. The value style of investing returned to favourin 2000 as growth stocks and the high-tech sectorin particular came under pressure.

Down:1. Prudence suggests that a portfolio should beinvested in a wide variety of securities and not havean overly high proportion in any one security

3. You cannot use your RRSP contribution room tocontribute to the CSS Pension Plan.

5. Economic forecasters are predicting an econom-ic slowdown in the U.S. and perhaps Canada aswell, at least for the first half of 2001.

7. At the end of 2000 there were approximately5,000 retired members receiving a monthly pensiondirectly from the Plan.

Details of the latest contest appear onpage 14.

“I Know That!”Contest Update

The CSS Pension Plan regrets toannounce that Michelle Shabaga,

resigned her position as InformationOfficer as of July 26, 2001. She is accom-panying her husband to Iowa, where hewill be taking a Ph.D.

The Plan is pleased to welcome backMuriel Baribeau as Michelle’s permanentreplacement as Information Officer.Muriel is no stranger to the Pension Planas she filled in during Michelle’s materni-ty leave last year. Prior to that she wasemployed with Federated Co-op homeoffice. Since filling in for Michelle last

year, Muriel was employed with Co-operative Trust in Saskatoon.

Muriel is a graduate of the Universityof Saskatchewan, holding an economicsdegree and she also has training and aninterest in writing.

Muriel and her husband Mike havefour children. Stephanie and Kevin are both attending the University of Saskatchewan, while Laurier andCameron are in high school.

We extend our best wishes toMichelle, and a warm welcome back toMuriel.

Staff Changes


Selected financial information relatingto the CSS Pension Plan’s operations

for the first 8 months of 2001 (01/01/01 to31/08/01) appears above. The regular CSSQuarterly Update for the third quarter of2001 will be distributed to all employermembers of the Plan in mid to lateOctober. As always, employers are askedto share the Quarterly Update with theiremployees. Members who have Internetaccess can find the Plan’s QuarterlyUpdate in the “What’s New” section of thePlan’s web site at http://www.csspen.com.

Investment Performance1

Canadian Investment markets haveproduced mixed results for the first 8months of 2001. To August 31, the TSE300 Index fell 16.39%, while theTSE/CPMS 300 Cap 10 Index declined by14.32%.2 The Scotia Markets UniverseBond Index, however, rose by 5.16%, par-tially offsetting the Plan’s losses on equities.Equity returns outside of Canada have alsobeen negative, with world equity marketsand the American market in particular,falling in response to a deepening econom-ic slowdown. To August 31, the S&P 500Index (U.S. Large Cap Equities) lost10.41% while the S&P 400 Index (U.S.Mid Cap Equities) fell by 0.60%. The EAFEIndex (Non-North American Equities) wasoff by 15.8% and the MSCI World Index(Global Equities) was down by 13.56%.

Through this period of steep declinesin equity values, the structure of the Non-

Retired Lives Portfolio, and our activeequity managers, have helped to preservecapital and smooth volatility. The diversi-fied asset mix held in the Non-RetiredLives Portfolio and its continued relative-ly heavy weighting in bonds have eachcontributed to Portfolio performance inexcess of the Plan’s benchmark in verydifficult markets. On a pure market basis

the Non-Retired Lives Portfolio’s totalreturn for the first 8 months of the yearwas -1.56%. During this same time peri-od, the return for the Portfolio’s bench-mark was -4.10%.

Over the first 8 months of 2001, thePlan’s policy of smoothing market gainsand losses over 4 years and retaining anIncome Stabilization Reserve of up to 4% ofthe value of the Non-Retired LivesPortfolio have moderated the impact of

weak markets on the income allocation toour members. Deferred gains in the maxi-mum permitted amount (4% or$71,478,000) were held in the Plan’sIncome Stabilization Reserve at the begin-ning of the year. The market loss experi-enced by the Non-Retired Lives Portfolioon stocks in the current year has beenadded to the reserve and 1/4 of this loss or -$18,810,000 has been blended with thegains and losses from 1998, 1999 and 2000held in the reserve. The result is an esti-mated smoothed income allocation rate of+2.60% for the first 8 months of 2001.

Plan ExpensesThe Plan’s expenses have increased

over last year. This increase relates to ourcost of investment management. There aretwo reasons for the increase.

Firstly, the Plan added an active U.S.Mid-Cap Equity Manager, Forstmann-LeffAssociates, LLC, in July of 2000. Thismandate was added in order to improvethe diversification of the Non-RetiredLives Portfolio’s active U.S. Equity compo-nent. Including U.S. Mid-Cap stocks in theNon-Retired Lives Portfolio providesdiversification by company size. The addi-tion of Forstmann-Leff, a “growth” man-ager3, also diversifies the Portfolio’s U.S.Equities by manager style since thePortfolio’s other active U.S. Equities man-ager, Brandes Investment Partners LP, is a“value” manager.

31/08/2001 31/08/2000 ChangeAssets (Market Value) $2,129,492,342 $2,204,101,243 -3.39%Member Equity (Non-Retired Lives) $1,695,727,276 $1,546,278,604 9.67%Repayments (Including Interest) $53,820,932 $63,414,128 -15.13%

New Contributions $40,498,034 $36,804,166 10.04%Pension Payments $21,474,909 $20,580,792 4.34%Administrative Expense $735,796 $737,021 -0.17%

Investment Expense $2,332,302 $1,721,335 35.49%

Allocatable Income $43,428,469 $199,029,472

OPERATIONS UPDATE - August 31, 2001

The diversified asset mixheld in the Non-RetiredLives Portfolio and itscontinued relatively

heavy weighting in bondshave each contributed toPortfolio performance in

excess of the Plan’sbenchmark

As we stated in this report last year, asthe diversification of the Non-RetiredLives Portfolio increases to reduce volatil-ity and to offer the possibility of improvedreturns, there is an associated cost.Investment managers’ fees are calculatedas a percentage of the funds under man-agement using a sliding scale that decreas-es as the amount under managementincreases. As more managers are addedand the size of each manager’s mandatereduces, higher costs per dollar managedresult. While there are no guarantees, thejustification for the increase is the expec-tation of lower volatility and improvedreturns through increased diversification.

There is also a second reason whyinvestment costs, as recorded in our finan-cial statement, are higher than last year. At the beginning of this year, the Plan’slong-time active Non-North AmericanEquity manager, Sprucegrove InvestmentManagement Ltd., changed the methodused to calculate its management fees. TheNon-Retired Lives Portfolio investmentsmanaged by Sprucegrove are made up ofunits in an institutional pooled fund ofNon-North American stocks. Previously, aportion of the investment management feecharged by Sprucegrove was recoveredfrom the pool, while the balance of the feewas charged out directly to investors likeCSS. This had the effect of reducing theperformance of the pooled fund whilereducing the fees charged directly toinvestors. With the change made at thebeginning of this year, Sprucegrove nowcharges each investor in the pool the entirefee for management of their units withouttaking any reimbursement from the pool.There has been no net impact on CSS,however, since the pooled fund’s perfor-mance has increased by the same amount.4

As in past years, the actual cost of Planadministration, net of investment man-agement fees, continues to be very mod-est. The Plan’s total annual costs, includ-ing investment management fees, are gen-erally in line with those of other largeCanadian pension plans. At 0.25% of thefunds under management, the manage-

ment expense ratio (MER) of the Non-Retired Lives Portfolio is approximatelyone-tenth of the MER for a typicalCanadian balanced mutual fund. Each 1%in MER costs, when compounded over 35years, consumes 20% of an investor’s finalaccumulated balance.

The CSS Board of Directors and man-agement remain focused on keeping Plancosts low.

Return ExpectationsThe Non-Retired Lives Portfolio, since,

1995, has operated like a very large, well-diversified, balanced mutual fund (except

at a much lower cost). Like an investmentin a mutual fund, the value of our mem-bers’ equity will generally trend up anddown with the markets, but with somedampening as a result of the Portfolio’sbroad asset diversification and incomesmoothing policy.

As has been stated above, the Non-Retired Lives Portfolio, after smoothing,has produced a small positive incomeallocation for the first eight months ofthe year. This is encouraging, given thedramatic drop that has occurred in worldequity markets as the tech bubble hasburst and the U.S. economy has slowedsharply.

While market commentators andinvestment analysts were originallyexpecting a rally near the end of 2001 asthe U.S. economy recovered in response toeased monetary policy and lowered inter-est rates, they are now expecting a reces-sion in light of the recent tragedy in theU.S. They are also discussing whether aprolonged U.S. downturn could cause the

world economy to sink into a global reces-sion. There is speculation that such anevent could lead to several years of weak-er, single digit equity returns.

There is an additional reason whysome analysts expect that equities maygenerate weaker returns for some time.Given the surge in equity valuations thatoccurred through the late 1990’s, a periodof single digit returns over the mediumterm is considered a likely outcome asstock valuations decline to levels more inline with long-term historical averages.Bonds are also expected to provide singledigit returns for some time, given theircurrent position near the bottom of thelong-term interest rate cycle.

Although it is not possible to forecastmarket performance to December 31st, atthis point it appears that the economicrecovery that was forecast for the U.S. ear-lier in the year will probably not occur in2001. Further, equity markets around theworld have continued to decline from


1 All returns are stated in Canadian dollars.The MSCI World Index and S&P 400 Index representchanges in “price only” and exclude dividends. Allother indices quoted are “total returns” includingprice changes and interest or dividends.

2 The difference between the TSE 300 Index andthe TSE/CPMS 300 Cap 10 Index is explained by the“capped” nature of the TSE 300 Cap 10 Index. In thisindex, the weight of any stock is limited to 10% of thetotal market capitalization included in the index.Earlier this year, Nortel Networks’ market capexceeded 10% of the TSE 300 Index. As the price ofNortel shares declined, the TSE 300 Cap 10 Indexdeclined by less than the TSE 300 Index because itincluded less Nortel stock.

3 A “growth” manager looks for expanding com-panies whose profits are expected to grow rapidly. Themanager’s profit expectation is based upon predictedfuture developments. Success depends upon the accu-racy of the manager’s predictions. A “value” manag-er aims to identify companies whose shares are tem-porarily selling at a price that is less than the manag-er’s assessment of the company’s intrinsic value. Themanager’s estimate of intrinsic value is based upon thecompany’s assets, liabilities, earnings, dividends, andcapital structure. Success depends upon whether themanager’s assessment of intrinsic value eventuallycomes to be accepted by the general market

4 This change in the method used to calculateSprucegrove’s management fee accounts for approxi-mately $245,000 of the increase in investment manage-ment expense as indicated in the accompanying Table.

The actual cost of Planadministration, net of

investment managementfees, continues to be

very modest. Continued on page 6.

If you know the whereabouts of any of the above,please advise the CSS Pension Plan, or have them

contact the Pension Plan directly. Sorry, noreward will be offered for their discovery.

The following individuals are wanted by the CSS Pension Plan. They are “guilty” of notadvising the Pension Plan of their current address after moving. As a result they have not

received their most recent Annual Statement from the Plan. All of the following membershave reached the Pension Plan’s normal retirement age of 60.

Name Former EmployerVivian R. Allen Pincher Creek Co-op

Vivian Caouette Calgary Co-opRalph Carlson Sherwood Co-op

Hilda M. Green Federated Co-op - WinnipegThomas M.J. James Interprovincial Co-op - Winnipeg

Constance Laderoute Credit Union Central of ManitobaMary Mallet First Calgary Financial

Gary McDonald Vegreville Co-opDonald McKenzie Credit Union Central of Canada

Joan Rommel Credit Union Central of ManitobaM. Suzanne Shaw Federated Co-op - CalgaryM. Patricia Stirton Olds Co-op

Kim Williams Federated Co-op - CanoeDavid L. Young Dauphin Co-op


For example, if an employee has an annual salary of $26,000 in 2002, his/her pension plan contribution limitfor the year will be $4,680 (i.e., 18% of$26,000). However, if the employee ter-minates his/her employment on June 30,2002 and earns $13,000 year-to-date,then his/her year-to-date pension plan

contribution limit at June 30, 2002 willbe $2,340 (i.e., 18% of $13,000). If anemployee will earn $75,000 or more in2002, his/her pension contribution limitwill be $13,500 for 2002.

The CSS Pension Plan does not knowan individual employee’s compensation forthe year. Therefore, it is the responsibilityof the employer (i.e., payroll department)to ensure that the combined employee

and employer contributions, plus anyadditional voluntary contributions to thePlan are within each employee’s individualpension plan contribution limit for theyear. An employee’s 2002 CCRA maxi-mum contribution limit to the CSSPension Plan is separate from the maxi-mum amount that he/she can contributeto a personal RRSP for 2002.

Continued from page 2.

August 31st to the date of writ-ing. It is likely, therefore, thatCSS members will receive alower than average income allo-cation at the end of 2001.

The CSS Pension Plan hasbeen through periods of pro-longed economic weaknessbefore. Through periods of eco-nomic growth and recession, thePlan’s previous experience suggests that the Non-RetiredLives Portfolio will generate sufficient returns to provide reasonable retirement incomesto its employee members overthe long-term. Members aretherefore encouraged not tobecome unduly focused onweaker short-term results. ThePortfolio’s broad diversificationwill help to reduce volatility andpreserve capital, while capturingavailable returns around theworld through all parts of theeconomic cycle. And its lowMER will ensure CSS membersreceive the maximum net return.

The Portfolio is expected tocontinue to produce long-termaverage returns comparable tothose of other large Canadianmoney purchase pension plans.

Continued from page 5.


Marjorie MeldrumSperling Co-op, Sperling, MB

Alex MunroPortage la Prairie Co-op, Portage la Prairie, MB

Glenn NelsonMervin Co-op, Mervin, SK

Clara OllenbergerLafleche Co-op, Lafleche, SK

Victor OwenGrande Prairie Co-op, Grande Prairie, AB

Paul PerepiolkinVeregin Farmers Co-op, Veregin, SK

Henry PohleRadville Co-op, Radville, SK

Karl ReichSwan Valley Co-op, Swan River, MB

Ben RempelWinkler Co-op, Winkler, MB

Samuel RideoutNorth of 53 Co-op, Flin Flon, MB

William SchindelLipton Co-op, Lipton, SK

Harry SellickCalgary Co-op, Calgary, AB

Roy SelvigPioneer Co-op, Swift Current, SK

Fred SmithBrandon Co-op, Brandon, MB

J. Donald SmithDavidson Co-op, Davidson, SK

R

Natalie BettinLeroy-Watson Co-op, Leroy, SK

Alec BorysHartney Co-op, Hartney, MB

Albert BryantCalgary Co-op, Calgary, AB

Abe BueckertFederated Co-op, Saskatoon, SK

James BurnsPincher Creek Co-op, Pincher Creek, AB

Stanley ChildsRed River Co-op, Winnipeg, MB

Dinie DebruinEdmonton Co-op, Edmonton, AB

Mervin DerksenFederated Co-op, Saskatoon, SK

Edwin DresslerCredit Union Central, Regina, SK

Ralph DuelienMoose Jaw Co-op, Moose Jaw, SK

Karl GlassEarl Grey Co-op, Earl Grey, SK

Milton HansonRocky Mountain House Co-op,Rocky Mountain House, AB

Elizabeth HartenbergerWeyburn Credit Union, Weyburn, SK

Olga HaymanSwan Valley Co-op, Swan River, MB

Norman JohnsonEstevan Co-op, Estevan, SK

Eddie KangasCalgary Co-op, Calgary, AB

Melvin LangerSaskatoon Community Clinic,Saskatoon, SK

Mary LarsonPioneer Co-op, Swift Current, SK

Alfred LilburnMatador Farm Co-op, Matador, SK

Martin MarchukNeepawa-Gladstone Co-op,Neepawa, MB

William McFarenFederated Co-op, Winnipeg, MB

Eileen McInnisErickson Co-op, Erickson, MB

Robert McNairSaskatoon Credit Union, Saskatoon, SK

In emembranceIN THIS REGULAR COLUMN WE ACKNOWLEDGE THOSE

RETIRED MEMBERS WHO ARE NO LONGER WITH US. TO THEIR

FAMILY AND FRIENDS, WE EXPRESS OUR SINCERE

CONDOLENCES.

Howard SteelWhite Fox Credit Union, White Fox, SK

John StotynCalgary Co-op, Calgary, AB

Norman SwerhoneGateway Co-op, Canora, SK

Beatrice TaylorSherwood Co-op, Regina, SK

Florence TisdalePioneer Co-op, Swift Current, SK

Ernest TreacySaskatoon Co-op, Saskatoon, SK

Evelyne ValoisGrande Prairie Co-op, Grande Prairie, AB

Gary VansdalMargo Co-op, Margo, SK

Henry WagenhofferFederated Co-op, Saskatoon, SK

K.J. WallaceSouthwest Co-op, Maple Creek, SK

Gordon WhitfordKindersley Co-op, Kindersley, SK

SPECIAL

FEATURE


Canada Pension PlanRetirement Pension1. What is a Canada Pension Plan

retirement pension?The Canada Pension Plan retirement

pension is a monthly payment to peoplewho have contributed to the CanadaPension Plan or both Canada Pension Planand Quebec Pension Plan and live outsidethe province of Quebec and who are at least60 years of age. The pension is designed toreplace about 25% of the earnings on whichyou paid into the Plan. Information is avail-able by contacting Human ResourcesDevelopment Canada (HRDC) on howmuch you pay into the Plan (see 7 below).

2. How do I qualify for a retirement pension?You are eligible for a Canada Pension

Plan retirement pension if you have madeat least one valid contribution (payment)to the Plan and:

• you are at least 65 years of age; or • you are between the ages of 60 and

64 and either stop working or haveearnings below a specified level ofincome for a period of time.

Your retirement pension is not startedautomatically. You must apply for it(unless you are already receiving a CanadaPension Plan disability pension and are 65years of age).

3. If I am between the ages of 60 and64, how do I prove that I haveeither stopped working or haveearnings below the specified level of income?To qualify for a retirement pension

between the ages of 60 and 64, you need todo one of the following:

A. Stop WorkingStopping work means that you are notworking by the end of the monthbefore the CPP retirement pensionbegins and during the month in whichit begins. For example, if you requestthat your pension begins in November,you have to stop working by the end ofOctober and you cannot work duringthe month of November.

OR

B. Have Low EarningsHaving low earnings means you areearning less than the current monthlymaximum CPP retirement pension($775 in 2001) in the month prior to

the month your pension begins and inthe month it begins. For example, ifyou request that your pension beginsin November 2001, you need to earnless than $775 in both October andNovember.

Once you receive your CPP pension,you can work as much as you want with-out affecting your pension payment.However, you cannot contribute to CPPon any future earnings.

4. How does the Canada Pension Plancalculate my retirement pension?Your retirement pension is based on

how much, and for how long, you con-tributed to the Plan or to both CanadaPension Plan and Quebec Pension Plan ifyou are a “dual” contributor. It alsodepends on the age at which you chooseto retire.

The Canada Pension Plan protectsyour pension by making certain adjust-ments before calculating 25% of the earn-ings on which you contributed, over yourcareer. For example, the growth in wagesin Canada, up to the time your pensionstarts, is taken into account. And somelow-earning periods during your careerare “dropped out”, which increases theamount of your pension.

For disability beneficiaries, the conver-sion to a retirement pension is based onthe Year’s Maximum Pensionable Earningsat the time the disability began, withadjustments to price increases to retire-

CANADA PENSION PLANThe following is the first in a series of two articles relating to the retirement pension under the Canada

Pension Plan. The second article of the series will appear in the spring 2002 issue of TimeWise.

This information is reproduced with permission from Human Resources Development Canada (HRDC).

Your retirement pension is not

started automatically.You must apply

for it.


ment. The pension is indexed to theConsumer Price Index.

In 2000, the average Canada PensionPlan retirement pension was $417.64 permonth. The maximum for 2001 is $775.00per month.

Canada Pension PlanPayment Rates 5. How does my age affect the amount

of my pension?Your retirement pension would nor-

mally be payable the month after your65th birthday. The amount of the pensionis smaller if you take it before that point,and larger if you take it after. This “flexi-ble” retirement pension can be adjusted toage 60 at the earliest or age 70 at the latest.

The amount of the pension is adjustedby 0.5% for each month that you startyour pension before or after your 65thbirthday. The adjustment is permanent.This means that if you choose to take yourpension before age 65, it will not be recal-culated when you reach age 65.

Here are two examples. If you start yourpension at age 60, your monthly paymentwill be 30% lower than if you wait to age65, but by starting it sooner, you are likelyto get the pension for a longer period oftime. If you start your pension at age 70,your monthly payment will be 30% higherthan if you took it at age 65. If you applyafter age 70, retroactive benefits are onlypayable for a maximum of 12 months.

6. How do I decide when to take myretirement pension?It depends on your circumstances.

When you choose to begin receiving yourpension could depend on:

• whether or not you are still earningand contributing to the Plan;

• how long you have contributed; • how much your earnings were; • your other retirement income; • your health; and• your retirement plans.

The decision is yours.

7. Can I get an estimate of my retirement pension before I decide to apply?Yes. For an estimate of your Canada

Pension Plan retirement pension, checkyour Statement of Contributions, or callHRDC free of charge at 1-800-277-9914. Ifyou have a hearing or speech impairmentand you use a TDD/TTY device please call1-800-255-4786. Or you can print off an“Estimate Request for Canada Pension Plan(CPP) Retirement Pension” form fromHRDC’s web site at www.hrdc.drhc.gc.caand mail the completed form to the applic-able address indicated on the form.

The closer you are to the date on whichyou want to begin your pension, the moreaccurate the estimate will be.

If you have any questions or requireinformation about CPP, Old Age Security(OAS) or Guaranteed Income Supplement(GIS) please call HRDC free of charge 1-800-277-9914. If you have a hearing orspeech impairment and you use a TDD/TTYdevice please call 1-800-255-4786. Or visittheir web site at www.hrdc.drhc.gc.ca

Are you planning to terminate youremployment with an employer mem-

ber of the CSS Pension Plan at the end ofthis year? And, are you planning to with-draw or transfer your funds from the Planafter receiving the year-end allocation? Ifso please note that because of yearendprocedures, the CSS Pension Plan doesnot process any withdrawal or transferrequests from the middle of Decemberuntil January 31. This is because thePlan’s final results for the year will not beknown and the annual allocation rate willnot be set until then.

If you do not wish to experience thisyear-end delay, you should consider

whether you might wish to move yourtermination date up slightly. To withdrawor transfer your funds by the middle ofDecember, in addition to your employ-ment terminating at some point beforemid-December, the CSS Pension Planmust receive your final pension contribu-tions and the necessary withdrawal/trans-fer documents by December 14. If youmiss this mid-December deadline, pleasenote that the processing of withdrawaland transfer requests does not resumeuntil early February 2002.

Members withdrawing or transferringtheir funds by mid-December will receivean income allocation based upon the

Plan’s estimated market performance tothe date of their withdrawal or transfer.However, members whose funds will betransferred in early February 2002 willreceive the actual income allocation forall of 2001, plus the income allocation(positive or negative) for January 2002based on the Plan’s estimated Januarymarket performance.

Please do not hesitate to contact theCSS Pension Plan if you have any ques-tions and think you may be affected bythe above.

Attention Terminating & Retiring Employees!

SPECIAL

FEATURE


LEGISLATION UPDATESaskatchewan

Effective July 6, 2001, same-sex com-mon-law relationships are included in thedefinition of spouse under Saskatchewanpension legislation. The new definition of“spouse” under The Pension Benefits Act,1992 (the Act) now reads: “(i) a personwho is married to a member or formermember, or (ii) if a member or former mem-ber is not married, a person with whom themember or former member is cohabiting asspouses at the relevant time and who hasbeen cohabiting continuously with themember or former member as his or herspouse for at least one year prior to the rel-evant time.”

It should be noted that a marriedspouse still takes priority over a com-mon-law spouse. Accordingly, someonewho is married to a member, but separat-ed from him/her, may take priority over acommon-law spouse.

Under Saskatchewan pension legisla-tion, upon a member’s death his/her qual-

ified surviving spouse is entitled to thepre-retirement or post-retirement deathbenefits prior to any designated benefi-ciaries or the member’s estate. The newdefinition of spouse could thereforeimpact to whom a member’s pensionfunds are payable on his/her death.

Prior to July, a Saskatchewan mem-ber’s pension funds could only be dividedon the breakdown of a marriage. The Act

now permits a member’s pension funds tobe divided upon a spousal relationshipbreakdown, which not only includes amarriage breakdown, but a same-sex oropposite-sex common-law relationshipbreakdown as well.

ManitobaOn May 30, 2001 the Manitoba gov-

ernment introduced legislation that willextend spousal rights and entitlements tosame-sex common-law couples similar tothe rights and entitlements of opposite-sexcommon-law couples. The legislation willaffect 10 different Manitoba Acts, includ-ing The Pension Benefits Act (the Act). Asthis issue of TimeWise went to press thisnew legislation was not yet in effect.

Under the proposed changes to theAct, the definition of common-lawspouse will be replaced with common-law partner, which will cover both oppo-site-sex and same-sex couples. A com-mon-law relationship will be establishedafter one year of cohabiting, providedneither party is married to someone else.If either the member or the spouse ismarried to someone else, then a com-mon-law relationship is established afterthree years of cohabitation.

Also, under the proposed changes,upon a Manitoba member’s death, ifhe/she has a qualified surviving common-law partner, such common-law partnerwill be entitled to the pre-retirement andpost-retirement death benefits prior toany designated beneficiaries or the mem-ber’s estate. This is currently the case ifthe member has a qualified common-lawspouse.

As a result of the proposed changes, acommon-law partner may be entitled to adivision of the member’s pension funds

on the breakdown of the common-lawpartnership. The common-law partner’spension division rights are subject to theprovision that the member had submitteda declaration to the Plan indicating thatsuch common-law partner was to havepension division rights.

New BrunswickEffective February 1, 2001 the

Regulation that governs Life IncomeFunds (LIFs) for New Brunswick pensionplan members has been amended.

Under the new Regulation, a LIFowner can apply to the New BrunswickSuperintendent of Pensions for a lumpsum withdrawal from a LIF provided thatthe LIF owner has not applied for such awithdrawal before, and the amount of thewithdrawal does not exceed the lesser of:(i) 25% of the value of the fund at thebeginning of the year, and (ii) 3 times theregular maximum LIF withdrawal forthat year.

Another change is the elimination ofthe requirement to purchase a life annu-ity with the LIF funds before the end ofthe year the LIF owner turns age 80. As aresult, a New Brunswick LIF can extendbeyond age 80. According to the maxi-mum payment calculation for a LIF, how-ever, if the funds in the LIF are not trans-ferred to a life annuity, they will beexhausted by age 90.

In Saskatchewan a married spouse still takes

priority over a common-law spouse.

New Brunswick LIFs can extend beyond

age 80.


ATTENTION PENSIONERS!The CSS Pension Plan is pleased to

announce that, it is continuing itstradition of providing the December pen-sion payments to pensioners prior to theholiday season. Accordingly:

• Pensioners whose pension pay-ment is deposited directly into acredit union or bank account:your pension payment will bedeposited into your account onWednesday, December 19 insteadof December 26.

• Pensioners receiving monthlycheques by mail: your cheque willbe mailed from the Pension Plan’soffice on Friday, December 14.

2002 Income Tax ChangesIncome tax changes effective January

1, 2002 may mean that the after-taxamount of monthly pension you receivein 2002 will be different than the amountyou received in 2001.

Persons who are 65 years of age orolder in 2002 may be eligible for theentire or some of the federal and provin-cial Age Exemption amount. A personaged 65 or older whose total net incomein 2002 will be less than the federal andprovincial minimum threshold amountcan claim the appropriate full Age

Exemption when calculating his/her fed-eral and provincial income tax payablefor 2002. However, a person aged 65 orolder whose total net income exceedsthe minimum threshold in 2002, willhave their Age Exemption reduced by15% of their net income in excess of theminimum threshold. If a person aged 65or older has total net income in excess ofthe maximum threshold amount in 2002,he/she will not be eligible for any of theAge Exemption amount.

As a result, a pensioner aged 65 orolder should keep the above in mind ifhis/her total net income is expected toexceed the minimum threshold amount.If a pensioner falls into this category,he/she can contact the CSS Pension Planto have extra income tax withheld fromhis/her monthly pension in light ofhis/her eligibility to the above AgeExemption amount.

Pensioners wishing to find out howmuch of the federal and provincial AgeExemption they are eligible for, shouldget the federal and appropriate provincialTax Personal Credits Return forms (TD1)and applicable worksheets. In addition tothe CSS Pension Plan’s office, the TD1forms are available on the CanadaCustoms and Revenue Agency (CCRA)

Web site at www.ccra-adrc.gc.ca, or bycalling 1-800-959-2221. Pensioners whoneed help to complete a federal orprovincial TD1 form can call the CCRAgeneral enquiries line, toll free, at: 1-800-959-8281.

T4A SlipsThe T4A slips for 2001 will be mailed

directly to pensioners by early February2002. Watch your mail, as you willrequire the T4A slip when filing your2001 Income Tax Return.

CCRA regulations state that a T4Aslip must only be issued when total pay-ments for the year are more than $500.

If your total pension payments fromthe CSS Pension Plan for 2001 are lessthan $500, you will not receive a T4A for2001. However, you still must declare thetotal of your pension payments that youreceived in 2001 on your 2001 IncomeTax Return.

Pension payments from the CSSPension Plan qualify for the PensionIncome Exemption (i.e., when calculat-ing the tax credits) on your Income TaxReturn. The maximum exemption thatmay be claimed is $1,000.

Nova ScotiaEffective June 4, 2001 the Nova Scotia

Pension Benefits Act (the Act) extendsspousal rights to same-sex couples.

To accomplish the above, the defini-tion of common-law spouse is replacedby common-law partner, which includessame-sex and opposite-sex couples whohave cohabited for at least two years,provided that neither of them is alreadymarried to another.

Upon a Nova Scotia member’s death,if he/she has a qualified surviving com-mon-law partner, such common-lawpartner is entitled to the pre-retirementand post-retirement death benefits priorto any designated beneficiaries or themember’s estate.

The Act will now permit the division ofa member’s pension funds upon the break-down of a common-law relationship, inaddition to the breakdown of a marriage.

Also, effective January 1, 2002 it isproposed that the requirement to pur-chase a life annuity with the LIF fundsbefore the end of the year the LIF ownerreaches age 80 will be lifted. More detailson this are expected after amendments tothe Nova Scotia Pension Regulation arereleased this fall.

BRITISH COLUMBIA

Joseph BarabasFederated Co-op, Canoe

Ernie L. CrossleVanderhoof Co-op

Allan HoldenFederated Co-op, Canoe

* Dorothy LewisDelmas Co-op, Massett

Douglas LindgrenFederated Co-op, Canoe

Allan G. MellorFederated Co-op, Canoe

* Helen StrebskyFederated Co-op, Canoe

Karin E. WallaceAlberni Co-op, Port Alberni

ALBERTA

Karen A. AuerThe Grocery People, Edmonton

Rainer R. AuerThe Grocery People, Edmonton

Eugene BalonCredit Union Central, Calgary

Isabel BeauchampInnisfail Co-op

Julien BoivinRycroft Co-op

Caron CalonCalgary Co-op

Noreen A. CameronWetaskiwin Co-op

P. Arleen BirdWeyburn Co-op

Gail J. BraunEastend Credit Union

Mel W. ButtFederated Co-op, Saskatoon

Edythe G. CarnduffCarnduff Co-op

Gina ConroySherwood Credit Union, Regina

Barbara J. DavisMoosomin Credit Union

Irene DesjarlaisLloydminster Co-op

Fred DowholisYorkton Co-op

Lorna DrewloBattlefords Co-op, North Battleford

Larry W. EdeenPrince Albert Co-op

Louise J. FehrTurtleford Co-op

Lilly FontaineWynyard Co-op

Graham W. Forester Consumers Co-operativeRefineries, Regina

Justina FrankWadena Co-op

Homer J. GagnonBorderland Co-op, Moosomin

Jessie GallColonsay Co-op

Allan GeorgeRedvers Credit Union

Diane J. GervaisCredit Union Central, Regina

Betty A. GonzoSaskatoon Co-op

Robert M. JohnsonCo-op Press, Edmonton

Sophie C. KendallFederated Co-op, Calgary

Arlene KingCalgary Co-op

Marryen LeongCalgary Co-op

Ivan LoveridgeEdmonton Co-op

Carol E. LumbBarrhead Co-op

Daniel T. MartianManning Credit Union

Rita MaureFalher Co-op

Stan A. PongarLeduc Co-op

Margaret RobinsonCalgary Co-op

Stanley SaxtonInnisfail Co-op

Elaine SchwindtMacleod Credit Union,Claresholm

Beverly SmithCo-operative Trust, Calgary

Clarence A. StillingCredit Union Central, Calgary

Marshall TriskaVegreville Co-op

Darlene WarnerGrande Prairie Co-op

SASKATCHEWAN

Gayl F. AikensMoose Jaw Credit Union

Julie E. BaileyDelisle Credit Union

Marjorie BildfellShaunavon Credit Union

John S. ChisholmCo-operative Trust, Calgary

Helen ChoroszewskiEdmonton Co-op

Jolene C. ColeyEdmonton Co-op

Laurette DallaireSt. Paul Co-op

Elaine DaviesCalgary Co-op

Metro DowhaniukThe Grocery People, Edmonton

Eileen EdwardsCalgary Co-op

Gudrun GallantStony Plain Co-op

Margaret GawryliukAndrew Co-op

Sheila GermsheidRed Deer Co-op

June I. GrossCalgary Co-op

Paul GrykuliakEdmonton Co-op

Joyce HamMacleod Credit Union,Claresholm

Edwin HeberlingVegreville Co-op

Janet C. HelgesonOlds Co-op

Harry A. HortonThe Grocery People, Edmonton


PNew ensionsA TOTAL OF 189 PENSIONS COMMENCED DURING THE FIRST NINE

MONTHS OF 2001. THIS IS DOWN SLIGHTLY FROM THE 191 NEW

PENSIONS COMMENCED DURING THE FIRST NINE MONTHS OF 2000.

THE FOLLOWING 141 NAMES REPRESENT THE NEW PENSIONS COM-

MENCED FROM MARCH 2001 TO SEPTEMBER 2001 INCLUSIVE.

An asterisk * denotes that these pensioners are surviving spouses ofdeceased members of the CSS Pension Plan.

Marjorie E. GuidryGrenfell Co-op

Trudy A. Gunoff Community Health Services,Saskatoon

Joanell HabertSaskatoon Co-op

Elsie M. Haldorson Co-operative Health Centre,Prince Albert

Bernard HopfaufLancer Credit Union

Isobel HudyLast Mountain Co-op, Raymore

Alice L. HugginsLloydminster Co-op

Elizabeth KajatiLast Mountain Co-op, Raymore

* Glen KiddEstevan Co-op

Orest J. KorolCanora Credit Union

Rose-Helene Lafond St. Jean Baptiste Credit Union,Prince Albert

Rhoda LarsonCredit Union Central, Regina

Joyce E. Le BretonCredit Union Central, Regina

Gloria LeftwichNorth Valley Credit Union,Esterhazy

Wayne A. LowesSouthland Co-op, Assiniboia

Herb MacDonaldRadville Co-op

Donald G. MarandaFides Co-op, Saskatoon

Neil E. McDonaldWatrous Credit Union

Paulette McDonaldSherwood Credit Union, Regina

Joan B. McGormanSaskatoon Credit Union

Kathleen MorrisWeyburn Co-op

Alphonse MuseySt. Mary’s Credit Union,Saskatoon

Mary NeilCo-operative Trust, Saskatoon

Joan NeisznerWeyburn Co-op

John J. NeustaeterPioneer Co-op, Swift Current

Abe D. NickelSouthwest Co-op, Maple Creek

Janet M. NyesteEstevan Co-op

Janet M. PeppardSaskatoon Co-op

Marilyn PetersonEast Central Co-op, Kelvington

Andre Poilievre Conseil de la Co-operation,Regina

Elswood RadcliffeCo-operative Trust, Saskatoon

Frank J. RipplingerCredit Union Central, Regina

Joyce S. RitcoKayville Co-op

Dennis L. RossLloydminster Co-op

Rosemarie SchmidtPage Credit Union, Regina

Lyle G. SchutzYorkton Co-op

Darlene SylvestreEstevan Co-op

Donna C. ThompsonLancer Credit Union

Betty TrupishLloydminster Co-op

Eleanor J. VeseySouthwest Credit Union, Swift Current

Joan WallerCo-operative Trust, Saskatoon

Mona WoodcockSaskatoon Co-op

MANITOBA

J. Art BourgeaultSwan Valley Credit Union,Swan River

Venessa ChaissonNorth of 53 Co-op, Flin Flon

Margaret ClineAssiniboine Credit Union,Winnipeg

E. Betty ColeAssiniboine Credit Union,Winnipeg

Joyce M. DevisserCredit Union Central,Winnipeg

Sandra J. DoerksenNiverville Credit Union

Robert DunningFederated Co-op, Winnipeg

Margaret DyckSun Valley Co-op, Altona

Vern GarnhamPortage la Prairie Co-op

Wendell E. GibsonCarman Co-op

John M. HiebertPortage la Prairie Co-op

Louise JeansonCredit Union Central,Winnipeg

* Janette KnoxArctic Co-op, Winnipeg

Diana D. MansellHeritage Co-op, Minnedosa

Brenda MyskaTranscona Credit Union,Winnipeg

* Marcel J. PainchaudBelgian Credit Union,Winnipeg

Ken L. PoleschukArborg Credit Union

Marilyn A. RegnierAssiniboine Credit Union,Winnipeg

H. Joyce SaundersPortage la Prairie Co-op

Ken SchaakWinkler Co-op

John SchmidtWinkler Co-op

William M. SimpsonArctic Co-op, Winnipeg

Leo ThevenotInterprovincial Co-op,Winnipeg

Linda D. YeramaGilbert Plains Co-op

ONTARIO

Robert O. Bildfell Canadian Co-operativeAssociation, Ottawa

Jacques LabrieCanfarm Co-op, Guelph

R. Ted MitchellVermilion Bay Co-op

L. Anne NifoInterprovincial Co-op,Mississauga



“I Know That!” Contest

Complete the crossword puzzle below and mail your entry to the address below. Entry forms must be received no later than Friday, November 30,2001. The first ten correct entries drawn at random on December 3 will each win a copy of Sandra E. Foster’s book “Who’s Minding Your Money?” orKevin Wark’s book “Everything You Need to Know about Estate Planning”. “Who’s Minding Your Money?” not only tells you how to manage your money,but also how much it might cost whether you do it yourself or use a professional. “Everything You Need to Know about Estate Planning” helps to explainwhy an estate plan is not about death - but about living with peace of mind. Answers to all of the crossword puzzle clues below can be found in this issueof TimeWise. See page 3 for a list of winners and the correct crossword puzzle solution to the Spring 2001 “I Know That!” Contest.

ENTRY FORMMail to: “I Know That!” Contest, CSS Pension Plan

P.O. Box 1850, Saskatoon, Sask. S7K 3S2

Name (Please print): _______________________________________________________________________________________

Employer: _______________________________________________________________________________________________

Address (home): __________________________________________________________________________________________

City: __________________________________ Province: ______________________________ Postal Code: ______________

If my entry is one of the first 10 correct entries drawn on December 3, 2001, I wish to receive a copy of:

❏ “Who’s Minding Your Money” or ❏ “Everything You Need to Know about Estate Planning” (Please check one)

Enter Our “I Know That!” Contest and You Could Win a Copy of “Who’sMinding Your Money?” or “Everything You Need to Know about Estate Planning”

ACROSS1. The management expense ratio (MER) of the Non-Retired Lives

Portfolio is approximately one-tenth of the MER for a typicalCanadian __________ mutual fund.

6. Your Canada Pension Plan __________ pension is based onhow much, and for how long, you contributed to the Plan.

8. Don Pavelick from Hy-Line Credit Union in __________ wasre-elected to the board by acclamation for a three-year term.

9. The CSS Pension Plan does not process any withdrawal ortransfer requests from the middle of December until__________ 31.

Down1. A New Brunswick LIF can extend __________ age 80.

2. The __________ for 2001 contributions to the CSS PensionPlan is Friday, January 11, 2002.

3. Same-sex common-law relationships are included in the defi-nition of spouse under __________ pension legislation.

4. Muriel Baribeau and her husband Mike have __________ children.

5. Canadian Investment markets have produced __________results for the first 8 months of 2001.

7. The T4A slips for 2001 will be mailed directly to pensionersby __________ February 2002.

1 2

5

7

9

3

6

4

8


year term from and by the Pensioners receivingmonthly pensions from the CSS Pension Plan.

Four (4) delegates will be elected for atwo year term from and by active contribut-ing employees employed in Alberta/BritishColumbia/Northern Canada.

Three (3) delegates will be elected for atwo year term from and by the active con-tributing employees employed in Mani-toba/Eastern Canada.

A nomination form for employee membersin the ALBERTA/BRITISH COLUMBIA/NOR-THERN CANADA region; the MANITOBA/EASTERN CANADA region and the PEN-SIONER group only is printed below. In addi-tion to completing the nomination form andgeneral questionnaire on the reverse of the

nomination form, candidates are requested toforward a recent black and white photowhich will accompany the ballot.

Nominations are to be forwarded to, andreceived by the Returning Officer no laterthan 4:30 p.m., Thursday, November 29, 2001.

Upon close of nominations the ReturningOfficer will prepare the necessary ballots con-taining the names of those nominated and willforward these to employee members inAlberta/British Columbia/Northern Canada andManitoba/Eastern Canada for whom contribu-tions and a completed application for member-ship has been received prior to November 1,2001 as well as to pensioners who are receiving amonthly pension from the CSS Pension Plan.

Bill Turnbull, Returning Officer

Election of Employee Delegates(Alberta/B.C./Northern Canada Region; Manitoba/Eastern Canada Region; Pensioners)

Employee delegate elections are held on arotating two year basis by region or

group. In January 2001 seven delegates repre-senting the Saskatchewan region were electedfor a 2 year term.

For 2002, the election of employee dele-gates will be held for the Alberta/B.C./Northern Canada region, Manitoba/EasternCanada region and the Pensioner group.

This is the official notice of the calling ofan election for January 15, 2002 for employ-ee delegates to attend the Annual Meeting ofthe Co-operative Superannuation Society,scheduled for March 14 and 15, 2002 inSaskatoon. The number of delegates to beelected is as follows:

One (1) delegate will be elected for a two

PLEASE CLIPCO-OPERATIVE SUPERANNUATION SOCIETY

BOX 1850, SASKATOON, SASKATCHEWAN S7K 3S2

NOMINATION FOR DELEGATESMust be received by November 29, 2001

Date:

We, the undersigned, nominate

of in for delegate.

Name of Employee Member (Please Print) Signature of Employee Member

1

2

3

4

5

N.B. - To be valid nominations must be signed by five employee members.I hereby consent to allow my name to stand for election as an employee delegate to the Co-operative Superannuation Society.

Signature of Candidate Occupation of Candidate

DON’TDELAY

LATENOMINATIONS

WILL BEREJECTED

(Candidate’s Name)

(Address)


Everything You Wanted To Know About Being aDelegate - But Were Afraid To Ask!

● Delegates are required to attend the annual meeting of CSS (1 day), and any special delegate meeting necessary dur-ing their term. The need for such special meetings has been all but non-existent in recent years.

● Delegates, as representatives of the members, are the only ones able to effect a change in the bylaws or rules of thePlan as such bylaws and rules affect benefit provisions.

● Delegates elect the Board of Directors. While each delegate has the right to be nominated for such elections, eachdelegate also has the right to refuse such nomination.

● Delegates receive a per diem of $100 for attending meetings plus out-of-pocket expenses.

● Being a delegate is a responsible position – however it does not require a significant time commitment.

CONSIDER BEING A CANDIDATE FOR ELECTION AS A DELEGATE THIS YEAR!PLEASE CLIP

QUESTIONNAIRE TO BE COMPLETED BY EACH CANDIDATENOTE: The purpose of this questionnaire is to provide information for the voters and to give them some knowledge of employee members who have been nominated.

Name of Candidate Social Insurance Number

Present employer

Position now held

Co-op or Credit Union experience:

Educational Achievements:

Please provide any brief comments you may have about the future direction of CSS in areas such as investments, member education, plan provisions, etc.

A) Plan Provisions:

B) Investment Strategy:

C) Member Education & Services:

My photo is enclosed (black and white preferred)

Date Signature

Linda Moulin CLU

1-877-996-9950Saskatchewan Regional

Vice-President

Serese Selanders, B.A., CFP

1-877-996-9950Associate Manager

Jocelyn Davey-Hawreluik, CFP

446-8282North Battleford & Region

John Frame636-7715

Estevan & Region

Marvin Nickel, CFP

682-5842Humboldt & Region

Don Ewing327-4880

Kelvington & Region

Trevor Beaton, B. Comm.

825-8118Lloydminster

Tom Slusar862-8160

Nipawin & Region

Adeline Thomson, CLU

953-4190Prince Albert & Region

Susan Davison,CLU, CH.F.C.

955-8590Saskatoon

Rob Collins955-8590Saskatoon

Byron Cronk780-1518

Regina & Region

Len Mueller, B. Comm.

780-1518Regina & Region

Ron Swan, CFP

778-5220Swift Current & Region

Darren McClelland778-5220

Swift Current & Region

Ken Kaytor783-1545

Yorkton & Region

Craig Hilts435-3837

Moosomin & Region

Gordon Tabashniuk, CFP

780-1518/642-5773Regina, Weyburn/Assiniboia Regions

Ken N. J. Pilon,882-4365/463-5656

Rosetown/Kindersley

ChangingPriorities

Goals and life events can change your

financial plan over the years. When you

have a good relationship with a trusted

financial advisor, it's easier to adjust to the

many changes that life throws your way.

A Coach you canTrust

Once your priorities are identified, and a

plan laid out to get you there, your financial

advisor is there to coach you along the

way. TheyÕll understand your situation and

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When you are looking for the person with

the knowledge and wisdom to guide you in

your financial decisions, one who will be

there to see the ÒplanÓ through call a

MemberCARE Financial Services advisor Ð

they can help.

MemberCARE♥

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Blair Baert, B. Comm.

446-8282North Battleford & Region

Good Advice…When you have an advisor you trust with your financial

decisions, youÕll have the peace of mind of knowing that youare on your way to realizing your financial goals.

Dwayne Fedoriuk, CFP

955-8590Saskatoon

MemberCARE¨ Financial Services is a division of the CUMIS Group ofcompanies offering financial planning, life insurance and investments to

members of credit unions and their communities. MemberCARE is a trademarkof Credit Union Central of Canada and is used under licence. 09/01

752-8210Melfort

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