Keeping you informed
HOOPP Plan Text updates
From time to time, our Board of Trustees makes amendments to the HOOPP Plan Text to ensure it is clear and accurately reflects how the Plan is administered. Recently, the Board approved a series of amendments that take effect on Jan. 1, 2020. While these updates will not affect your pension benefit or change how the Plan works, we believe it is important to let you know about them.
The amendments include:
- updating the Plan in recognition that we now have more than 575 participating employers;
- clarifying the Plan to make it clearer that when a member passes away, the survivor benefit owing to a beneficiary is not locked in and can be paid in cash;
- adding language to be inclusive of members who use a non-binary pronoun, rather than identifying themselves as “he” or “she”;
- removing references to a pension plan merger involving HOOPP that did not come into effect;
- removing some unnecessary language and better reflecting the role of the Board as HOOPP’s Plan administrator in the definition of pensionable earnings – this amendment does not change how your contributions or your pension are calculated.
These amendments are being incorporated into a new version of the HOOPP Plan Text that will be filed with the Ontario pension regulator. This version will soon be available on hoopp.com.
Questions?
For more information, please call Member Services at 416-646-6445 or toll-free in Canada and the U.S. at 1-877-43HOOPP (46677), Monday through Friday, 8 a.m. to 5 p.m., Eastern Time.
You may also submit comments about these changes to the Ontario pension regulator at:
Chief Executive Officer, the Financial Services Regulatory Authority of Ontario
5160 Yonge Street, 16th Floor
Toronto, Ontario, M2N 6L9
/members/member-news
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Keeping you informed
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This document provides a simplified overview of HOOPP's benefits based on the terms of the HOOPP Plan Text at the time of publication. From time to time, HOOPP may amend the HOOPP Plan Text. In cases where the information provided in this document differs from that contained in the HOOPP Plan Text, the HOOPP Plan Text will govern. More details, including the full HOOPP Plan Text and a complete description of the Plan and its benefits, can be found on hoopp.com.
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