The Stel Salaried Pensioners Organization wishes to thank The Hamilton Spectator for permission to post the following article published in the November 13, 2007 edition
Pension hearing at Sheraton Hotel today
The Hamilton Spectator
(Nov 13, 2007)
The commission reviewing Ontario pension
legislation will hold a public hearing today at Hamilton's Sheraton Hotel.
The Ontario Expert Commission on Pensions is
charged with reviewing provincial pension law that has not changed in 20 years.
The underfunding of defined benefit pension
plans, rights to surpluses, and the rules surrounding the Pension Benefit
Guarantee Fund are all part of the review. The five-member panel will also
examine what happens to pensioners when a company is taken over or goes out of
business.
The issues are of particular interest in
Hamilton, where underfunded pensions have emerged at several companies
including Amcan Castings, Stelco (now U.S. Steel Canada) and the former Slater
Steel.
Local 1005, CAW retirees and pensioners of
the former Slater Steel are all scheduled to make presentations at today's
daylong hearing.
Today's hearing will begin at 9 a.m. at the
Sheraton Hotel.