News 08/29/08

1. University of Sudbury Faculty Settle
2. Inflation
3. Pension News
4. Labour Day Parade: All Welcome
5. New Faculty Barbecue

University of Sudbury Faculty Settle: The University of Sudbury and the Laurentian University Faculty Association of the University of Sudbury have reached a tentative agreement.

The union will hold a ratification vote on Tuesday, Sept. 2, at 11:00 a.m. "Our committee will recommend to the members that they ratify the new agreement," says Dr. Paolo Biondi, the union's chief negotiator. "We feel we have managed to put together a package that will meet our members' objectives on academic matters and salaries."

The professors will return to work on August 28, and if the new agreement is ratified, classes will commence on Wed., Sept. 3 as scheduled.

Inflation: On August 21, Statistics Canada reported that consumer prices rose 3.4% in July 2008 compared with July 2007, an increase from the 3.1% rise recorded in the 12 months to June 2008. (See attached file) 

Pension News: Through the good word of LUFA’s actuary, Ashley Crozier, we have discovered that some of our pensioners will see an increase in their pensions. Until now, there has been cap on pension increases if inflation exceeded 3%. We now know that all along the plan had a “rolling guarantee” --that is if inflation were 3.5% in one year and 2.2% the next, while a pension would be capped at 3% in the first year, in the second, it would rise to 2.7% to make up for the .5% it could not pay in the first year.

Labour Day Parade: All Welcome: You are invited to join your executive and board in the Labour Day Parade, starting 11:00 a.m. at Memorial Park on 1 September. Between noon and 6:00 p.m. there is a Picnic held at the Mine-Mill Campgrounds at Richard Lake, off Highway 69 south. Bring your swim trunks and your appetite…and some dry goods for donation to the food bank.

New Faculty Barbecue: LUFA will be sponsoring a barbecue for new faculty and their families on Friday September 12.

New faculty are defined as those hired over the past three years since the last contract.

Tentatively, the event will take place between 11:30 and 2:00 at the Robertson Cottage, which for newcomers is the future site of the Living with Lakes Centre on your left as you approach the main entrance to the university.

Details will follow.