ABOUT US

 

This Web Site was established by concerned retired members of the Stelco Salaried Pension Plan.

 

We are a non-profit organization formed by a group of volunteers who, first of all, hope that Stelco thrives and prospers for many years.  Members of the Steering Committee are all long time employees, now retired, who are Stelco supporters. We have no agenda other than to see salaried pensioners treated fairly in whatever the future holds.

 

Steering Committee Members

 

Name                               Position at Retirement

Gary A. Beaudoin             Manager, Metallurgy, R&D, QA - HW R&B

Gary Dallin                       Manager, Metallurgy & QA, HW Rolling & Finishing

Richard Dowdy                 Special Duties Superintendent

Bob Faitz                         Process Metallurgist, HW Plate Mill

Rick Grigg                        Coordinator – R&D, HW

George Hanson                 Metallurgist HW Plate Mill

John Hanson                    General Foreman Utilities HW Eng. & Operating Services

Richard Harris                   Superintendent Stores, HW

Klaus Heyer                     Senior Technical Advisor, HW R&D

John Hood                        Research Manager, HW Cold Roll & Coated

Murray McDiarmid             Analyst, Salary & Benefits, HW

Ron Price                         Plant Accountant, HW

Gordon Thede                   Assistant Manager, HW Engineering

Paul Wendling                  Project Manager, HW Plate & Strip Division

Dennis Wright                   General Foreman Utilities, LESC Operating Services

 

       Click here to learn more about the Steering Committee

 

In July 2003, due to rising concerns about Stelco’s financial health and the state of funding of Stelco’s various pension plans, and amid reports of a need to reduce “legacy costs”,  a small group of retirees (now the Steering Committee) formed the Stel Salaried Pensioners Organization (SSPO) to defend our pensions and benefits. The ongoing financial crisis that Stelco is facing may pose serious risks for the long-term viability of Stelco. This may affect our Pension and Health Benefits (group medical, life, and dental) Plans.  This in turn may affect the personal financial security of each Plan member.   We believe there is a need for Pensioners to be organized and be prepared to act as a large group to protect our vested interests in a timely fashion as the need arises.

 

Membership in SSPO is open to:

 

►      ►      Pensioners

►      ►      Surviving Spouses Of Pensioners

►      ►      Current Employees (who are members of the Salaried Pension Plan)

►      ►      Retired Salaried Non-Pension Benefits Participants in Health Benefits (group medical, life, and dental)

 

We began by asking retirees to become members of SSPO by signing up on our website and over 1100 did.  The SSPO Steering Committee was endorsed by an overwhelming majority of the voting members in early January 2004.  Today we have over 1600 members who have registered at our Website. 

 

After Stelco initiated CCAA on January 29, 2004 the judge presiding over the proceedings directed that our organization represent all retired salaried employees of Stelco operations in Ontario, a group of approximately 3500.  On April 13, 2004 justice Farley of the Ontario Superior Court Of Justice further directed that SSPO represent approximately 600 additional former pension plan members and surviving spouses who are in receipt of medical, dental, and life insurance benefits from Stelco Inc., but not pensions.  SSPO now represents approximately 4100 beneficiaries in the Stelco Inc. CCAA proceeding.

 

 

SSPO STEERING COMMITTEE MANDATE

 

►      Maximize the number of organization members

►      Initiate legal action if necessary

►      Raise funds to cover expenses

►      Communicate with our pensioners’ organization, Stelco, the media, government and elected representatives

►      Collect information to better understand our options.

►      Represent the interests of Salaried Pensioner beneficiaries in CCAA proceedings.

 

 

OUR MISSION

 

Our mission is to protect the basic pension and benefit rights of Stelco’s Ontario Works salaried pensioners. 

 

While we would not try to defend the pension and benefits interests of current employees we expect that our efforts will be of value to those close to retirement.

 

We are defending the basic pension and benefits only, not special pension arrangements (we have no position on them) or special concerns of those who may be actively employed at Stelco or those who may be in units that may not be part of the ongoing Stelco.

 

ONTARIO REGISTERED PENSION PLANS REPRESENTED BY SSPO

 

          Works                                 Plan Number

Stelco Inc. (HW/ST)                          338509

Stelco Inc. (LESC)                            698753

Stelwire Ltd.                                       697292

Stelpipe Ltd.                                      1017177

Welland Pipe Ltd.                             1017185

CHT Ltd.                                             532796    

 

THE CCAA PROCESS

 

CCAA is a court supervised restructuring process.  It encourages all parties to work together for a successful conclusion. It is expected that the proceedings could take upwards of a year to conclude. The under-funded portion of our pension, should the pension plans be wound up, is estimated in some cases, to be  up to 30%. It is categorized as an unsecured claim and as such has no preferential status in the process. We will be attempting to defend our pension and benefits while banks, bondholders, suppliers and others defend their claims. This dictated the necessity to engage high quality, experienced legal representation. We chose to retain the Toronto legal firm of Koskie Minsky, who are considered among the best in the field of employment law, to represent us. Their performance to date has been very impressive.                 

 

FUNDING

 

Through our request and negotiations between the lawyers, Stelco has agreed to pay our legal costs from Jan 29/04 onwards. This is not unusual in this type of complex process. To cover expenses prior to this agreement and to ensure we build a substantial reserve fund in the event Stelco reverses its decision, we have assessed a $50 fee to each pensioner or survivor. Further assessments will be levied if required. We are maintaining strict accounting and any unused funds will be returned. If you have not already paid, please send your cheque for $50 , payable to "Stel Salaried Pensioners Organization"  to our  post office box, Stel Pensioners Organization, 2-558 Upper Gage Ave, suite 146, Hamilton, Ont. L8V 4J6. If you are genuinely unable to make this payment it will be waived.

 

HOW WE COMMUNICATE WITH OUR MEMBERS

 

►      E-mail communication with members who have registered at our Website.

►      Periodic Newsletters issued in regular mail format to all beneficiaries represented by SSPO in the CCAA proceeding.

►      Communications posted at our Website.

►      Periodic Membership Meetings.

►      News Media

►      Response to regular mail and e-mail enquiries.

 

SSPO MEMBERSHIP

 

Registration at our Website is completely voluntary.

 

Your personal information will not be accessible to other visitors to this Site.

 

If you choose to receive e-mail communications sent to the membership of Stel Salaried Pensioners Organization you must register on-line at this site in order for your e-mail address to be added to our database mailing list.  Members of the Organization receive e-mail notification prompting them to visit the SSPO Website to view new communications directed to the membership.

 

To register use the Self Registration link or click “here”.

 

You can register a fellow pensioner who does not have an e-mail address using our convenient “Register A Friend” feature by clicking "here".

 

Please inform a friend of our web site by clicking “here”.

 

NOTE:

 

Please do not ask us legal questions.  Although the Organization does have access to legal advice, resources are limited. 

 

The information provided on our website is offered as a service to our members and should not be relied upon as specific legal or financial services advice. Many factors unknown to us may affect the applicability of any statement or comment made on our website to your particular circumstances.

 

We request that you do not e-mail communications issued by this Organization to a recipient with an e-mail address destination that resides within the Stelco Group Of Businesses. This includes those businesses that are either wholly owned or partially owned by Stelco Inc. E-Mail addresses that can be recognized as a Stelco Inc. destination will not be accepted into the database.