A proposed collective agreement between the University of Toronto and employees who are members of United Steelworkers (USW) Local 1998 includes a plan to ensure pension sustainability.
“A key element of these negotiations was the historic co-operation agreement between USW Local 1998 and the University of Toronto Faculty Association (UTFA) to assess options to reform the pension plan and ensure its long-term sustainability,” says Paul Tsang, USW Local 1998 president.
The USW and UTFA tabled a joint proposal to the university to form a joint working committee to collectively assess pension reform options and potential solutions.
Approximately 4,100 members of the USW Local 1998 staff-appointed bargaining unit are affected by the tentative agreement, which was reached Tuesday night.
Details of the tentative deal will not be released publicly until union members are able to review the agreement and hold a ratification vote. Union members will review the agreement on Thursday and will hold a ratification vote on Friday.
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