Retirement Plan Change to the Buyback Factors

The buyback factors will change effective July 1, 2012 to reflect the recent Retirement Plan amendment, where the early retirement reduction factors used in calculating the Minimum Guarantee pension equal the actuarial equivalent factors.

This change will affect:

• Current Retirement Plan members born after 1957, who have prior Carleton service that is eligible to be bought back
• New members born after 1957 and hired within the last twelve months who would like to transfer a prior employer pension to purchase Carleton Retirement Plan service.

In December of 2011, a letter was sent to all the Retirement Plan members who were affected by this change.

If you did not receive this letter and you think you may have service that is eligible to be bought back, please complete the Pension – Past Service Information Request form and send it to Human Resources.

 

Buyback letter to members

Pension – Past Service Information Request