Your pension is secure
A message from our President & Chief Executive Officer
The last two years have been very difficult for so many of our members as the world continues to feel the effects of COVID-19. On behalf of HOOPP, I want to thank you for everything you have done, and continue to do for us, and assure you that we remain committed to keeping your pension secure.
Through the challenges of the past year, we maintained HOOPP’s very healthy funded status, which reflects our ability to pay pensions both now and in the future. Based on the overall strength of the Plan, we also took steps early in 2021 to help eligible active members get even more from their pension in retirement. Our Board of Trustees approved a pension benefit increase as a sign of support for our active members, who continue to lead our communities through the pandemic. For our retired and deferred members, we were able to provide a cost of living adjustment in line with the increase in the consumer price index, to help pensions keep up with rising prices.
Looking ahead, it is clear that the impact of the pandemic will be felt for a long time. While a return to normality this year is likely too much to ask, I remain hopeful that, in time, we will start to see some progress in that direction. However things evolve, I want you to know that the Plan remains strong and is performing well; your pension is safe and will be here when you need it, and we continue to be here to support you.
For more information on how we are doing that, I encourage you to read the recent articles in our Member News section and keep an eye out for our 2021 results. In the coming weeks, we will be posting our results on hoopp.com and then sending them to you by email or mail shortly after. I am confident that this information will help give you further peace of mind about your pension. Our goal is to give you the confidence to focus on the challenges of today, knowing that HOOPP is focused on helping to protect your financial future.
In the meantime, I wish you and your loved ones a safe and successful 2022.
Regards,
Jeff Wendling
President & Chief Executive Officer
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Your pension is secure
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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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