About the Plan

As a defined benefit pension plan, the Regina Civic Employees' Superannuation & Benefit Plan provides eligible members with a retirement income based on a formula that takes into account the member's earning history and length of service in the Plan.

 

Some of the benefits of belonging to the Plan include:

 

      - a lifetime monthly pension based on the average of your highest consecutive

        years of pensionable earnings and years of pensionable service;

      - early retirement options;

      - bridge benefit payable from early retirement up to age 65;

      - Cost of Living Adjustments (COLA) to pension payments on any service up to and

        including December 31, 2015;

      - termination benefits; and

      - survivor benefits.

 

Participation

The Plan is a multi-employer plan representing employees from the following seven employers:

 

      - the City of Regina (excluding the Regina Police Service);

      - the Regina Qu'Appelle Regional Health Authority;

      - the Board of Education of Regina (Division No. 4 of Regina - non-teaching

        staff);

      - the Regina Public Library Board;

      - the Buffalo Pound Water Administration Board;

      - EPCOR; and

      - Möbius Benefit Administrators Inc.

 

Plan Membership

Plan membership includes active members who are still working and contributing to the Plan, inactive members who are no longer contributing to the Plan but are entitled to receive benefits upon retirement, and retired members and survivors who are currently receiving a pension.

 

Plan Membership at December 31, 2015:

  

 

 

Investment Holdings

Assets of the Plan are actively managed in accordance with the Statement of Investment Policies and Procedures.

 

Asset Class Allocation at December 31, 2015:

 

 

 

Governance

The Plan is governed by a Board of Trustees made up of 12 voting members: two employer representatives appointed by the City Manager, four employer representatives appointed by City of Regina City Council, and six employee representatives elected annually by the membership.

 

The current Board members are:

 

      Colin Jensen

      (Chairperson)

 

      Bob Linner

      (Vice-chairperson)

 

      Barbara March-Burwell  

      John Gangl

      Lorna Glasser

      Jo-ann Hincks

      Kathy Lewis

      John McCormick

      Brian Seidlik

      Brian Smith

      Tanya Lestage

      Rod Wiley

      Deb Cooney*

      Scott MacDonald*

 

      *Non-voting Employee Alternate

 

The Plan is reviewed by a qualified actuary at least every three years and is subject to the requirements of The Pension Benefits Act, 1992 (Saskatchewan), The Pension Benefit Regulations, 1993 (Saskatchewan), and The Income Tax Act.