CAW Pushes for Decision on Pension Plan at Navistar, Expected Early March
February 21, 2013, 10:33 AM EST
The Financial Services Commission of Ontario will soon issue a much anticipated decision on the wind-up of the Navistar pension plan, more than three and a half years since the company shuttered its heavy truck Chatham facility.
The CAW and Navistar representatives met with the Deputy Superintendent of Pensions of FSCO earlier this week on a number of outstanding issues which have so far prevented Navistar workers from seeing their pension settlements. The decision is expected by March 6.
"For more than three and a half years, the CAW has been pushing for a resolution for our members at Navistar," said CAW President Ken Lewenza. "First Navistar suddenly closed its plant in the middle of negotiations, and since then it has fought its own workers every step of the way. The company has left more than 800 people and their families in the lurch and we desperately need a solution."
The decision on the wind-up of the pension plan is long overdue, said Lewenza.
At issue is the date of the wind up of the pension plan, the early retirement program in the pension agreement, pension entitlements of those who retired before the wind-up date of July 28, 2011 and credited service upon layoff.
Navistar idled its Chatham plant in June 2009, but only announced the official closure in July 2011.
CAW Local 127 represented Navistar production and skilled trades workers and CAW Local 35 represented Navistar office workers.
To read the most recent update on the situation at Navistar, please visit: http://www.caw.ca/navistar