To: TEAM-IFPTE Local 161 Members
From: TEAM Office
Date: July 22, 2020
Re: New and Noteworthy
- New Financial Planning Webinars: Next week we are wrapping up our financial and retirement planning webinars for the summer with two new topics: Retirement Lifestyle Considerations and Wills and Estate Planning Fundamentals. The sessions will be presented by Darryl Robinson, Certified Financial Planner (planningtoretire.ca), and as a TEAM member, you, and if applicable, your spouse/partner, are invited to join us. If you wish to attend either (or both) of the below webinars, please click the respective links to express your interest.
Retirement Lifestyle Considerations - Tuesday, July 28th, 6:30 pm to 8:15 pm
This webinar will explore common concerns beyond your pension and retirement savings, in both the planning and postâ€retirement phases
Wills and Estate Planning Fundamentals - Thursday, July 30th, 6:30 pm to 8:15 pm
- How estate planning fits into your financial plan
- The importance of securing good legal advice
- Overview of wills and powers of attorney
- Living wills
- Other processes for transferring assets: Beneficiary designations and joint ownership
- Common planning mistakes
- TEAM Pension Committee Rep: Mike Taylor, TEAM’s acting President, has been appointed to the Bell MTS Defined Benefit Pension Committee. The Committee meets at least once every year to receive an update on the plan’s health, and to discuss any proposed changes and issues that may have arisen. The next Committee meeting will likely be held in September.
- Bell PMP Mid Year Reviews: As we head into the Mid Year PMP review period, it is important that members understand the performance objectives and leadership competencies on which they are being assessed, and how to achieve them. Not only is 30% of the Achievement Incentive Plan (AIP) based on the PMP results, but in some cases, a subpar assessment can lead to members being pre-screened on job postings, and has led to a number of members being placed on a Performance Improvement Plan. TEAM continues to assist a number of members with PMP related grievances.
We encourage members to take time during their Mid Year review meetings to clarify any aspects of the PMP that may be unclear and seek clear directions in writing on what is required of them to meet the objectives.
- TEAM Scholarships and RESPs: Despite the challenges for education during this pandemic, TEAM will still be running the scholarship awards program for members and members’ children. Information on the qualification criteria and how to apply will be shared with the membership by mid-August.
On a related note, members who have started, or are contemplating starting, a Registered Education Savings Plan (RESP) for a child or grandchild, and would like to know more about how they work, including the many options for withdrawing the funds, are sure to find two recent podcast episodes (part 1 and part 2) on Explore FI Canada extremely informative.
- TEAM Bargaining Unit Downsizing: The EVRTIP announced in early March remains on hold at this time. The Company has not indicated if, or when, they will proceed with the job reductions.
TEAM-IFPTE Local 161
204-984-9470 or 1-877-984-9470