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Letter or agreement no14 - Regarding the creation of a working committee on the funding of the employee-funded portion of the RREGOP

Within ninety (90) days following the date on which collective agreements come into force, the parties agree to set up a working committee, overseen by the Treasury Board Secretariat’s Bureau de la négociation gouvernementale, to review the funding of the employee-funded portion of the Government and Public Employees Retirement Plan (RREGOP).

MANDATE

The committee has a mandate to:

  1. examine and compare funding approaches designed to respond to risks related to the RREGOP’s maturity, including the enhanced differentiation approach (based on different investment and funding strategies for the accumulation phase and the payout phase) and the incorporation of a dynamic margin for adverse deviations;
  2. use these analyses to assess the relevance of changing the funding method for the RREGOP;
  3. conduct a comprehensive review of the funding policy for the employee-funded portion of the RREGOP and suggest changes to the policy, as needed, in order to update it.

If representatives of the committee come to an agreement on joint recommendations, they will present a report to the negotiating parties.

The negotiating parties agree to reassess the relevance of maintaining the committee when the time comes to renew collective agreements.

COMPOSITION

The committee consists, on the one hand, of a maximum of six (6) representatives of the Treasury Board Secretariat’s Bureau de la négociation gouvernementale, and, on the other hand, of a maximum of one (1) representative of each of the following union organizations: Confédération des syndicats nationaux (CSN), Centrale des syndicats du Québec (CSQ), Fédération des travailleurs et travailleuses du Québec (FTQ), Alliance du personnel professionnel et technique de la santé et des services sociaux (APTS), Fédération interprofessionnelle du Québec (FIQ), Fédération autonome de l’enseignement (FAE), Syndicat de professionnelles et professionnels du Gouvernement du Québec (SPGQ), and Syndicat de la fonction publique et parapublique du Québec (SFPQ) / Canadian Union of Public Employees (CUPE-FTQ).

Each organization may call on the services of a consultant as needed.

Committee members may request assistance from representatives of Retraite Québec to support them in their work.