Pension Life - Summer 2022
Keeping retirement health benefits sustainable
Your retirement health benefits are now managed and funded by the Municipal Retiree Benefit Trust. The trust is governed by eight trustees committed to the long-term sustainability of group health and dental benefits.
What this means for you
The new trust will help keep the group benefits program sustainable. This is good news for retired members enrolled in extended health and dental coverage.
Your premiums and coverage remain the same, and you don’t need to take any action.
How the trust is funded
Funding for the trust comes from three sources:
- A one-time transfer of $100 million from employer contributions in 2021
- Ongoing employer contributions
- Premiums paid by retired members
The money in the trust will accumulate and will now earn investment income over time. This more stable source of funding will contribute to the sustainability of the group health and dental benefit program. Group benefits are not guaranteed. However, the Municipal Retiree Benefit Trust Board of Trustees prioritizes making these benefits accessible to current and future retired members.
For more information explore the new Municipal Retiree Benefit Trust pages.