Dear QUFA Members,
As you may have heard by now, Bill Cannon, the Chair of the existing Pension Committee recently submitted his letter of his intent to resign that position. In his letter, Bill cited proposed changes to the governance of the pension plan as a primary reason for his resignation.
In QUFA’s follow-up with the University about these governance changes, we learned that a subcommittee of the Board of Trustees formed to look into pension governance issues have engaged a lawyer to assist in drafting documents proposing the creation of a new Board of Trustees’ Advisory Committee on Pensions.
QUFA continues to have serious concerns about this issue based on what we are hearing. The attached documents include a letter to Bill Young, Chair of the Board of Trustees, and a joint Pension Plan bulletin from all Queen’s employee groups to Plan Members. These documents provide further details about our concerns.
The annual meeting for Pension Plan Members is just two days away on December 5th at 1:30 pm in the Dunning Hall Auditorium. Bill Cannon will still be Chairing this meeting. I encourage all Pension Plan Members to attend and to be prepared to raise your concerns and ask Bill questions about the current Pension Plan and about his concerns for the future of the Plan.
Peter A. Dacin
Kraft Professor of Marketing
School of Business
Kingston, Ontario, CANADA
phone: (613) 533-2806
fax: (613) 533-2325