Tuesday, April 28, 2009

Highlights

Credentials Committee Report
Voting delegates              256
Non-voting delegates       142
Guests                             10
Staff                                24

Orient Express: East Meets West

MNU members dressed up for the Orient Express: East Meets West Banquet.

Photos by: Meghan Hurley

Planning for the future:

The Biggest Challenges Facing Pension Plans in 2009

Clarly Pazdor, a principal and a consulting actuary with Eckler Ltd., talked about the problems with pension plans during the current economic climate.

"For a long time there was good news in pensions and people got used to good investment returns," Pazdor said. "In the 21st century, pension plans haven't earned returns as before."

During his presentation, Pazdor revealed the biggest challenges facing pension plans is the current pension formula.

Defined benefit pension plans are made up of investments and contributions. If the investments are plunging because of the current economic climate, the contributions might have to be increased.

 "You don't have good investment returns and people aren't being conservative," Pazdor said. "Unless there is a surprising and miraculous change in the market contributions might have to go up."

The investment market and economic conditions are much different than the last 25 years of the 20th century, Pazdor said. From 1978 to 2000 the four-year average fund returns were above 10 per cent. From 2001 to 2008 the four-year average fund returns were below 10 per cent.

Pazdor also said that people are living longer therefore pensions cost more money.

In the future, pension costs will be higher and contributions will have to increase to compensate for lower returns on investments, Pazdor said.

Pazdor ended the presentation with the good news about being in a recession. Inflation rates are low and mortgage rates are still at historical lows.

Yellow Ribbon Awards

Nurses recognized for union and community activism

Gloria Loveday

Gloria Loveday was nominated for her involvement with the union for most her 32 years with Parkview Place. Colleague Loveday served as president for 27 years and sat on the Workplace Safety and Health Committee.

Sham Fhella nominated Loveday for the award.

"She has dedicated many hours to wards, making the workplace a fair and equitable one not only for us but for nurses everywhere," Fhella said. "Gloria performed her work in the union with dignity and respect for both her co-workers and its management."

Fhella added that Loveday's passion for nursing is evident in her daily practice.

"She is a good role model for the new grad nurses and indeed for all of us working with her," Fhella said. "Gloria is always caring, always a nurse."

Lorette Walker

Lorette Walker was also nominated by Worksite#40 members for the Yellow Ribbon Awards.

In stormy nights, Walker often would show up at work at midnight and sleep on a cot. She didn't want to get stuck at home because of the weather and make the night nurse would not have to work overtime.

They realized what a valuable member she is when she was missing from a recent meeting due to illness. Walker was diagnosed with lung cancer.

"Her voice was missed and brought about a strong realization of just how dedicated Lorette is to her fellow union members and to the residents she cares for," Cindy Soder and Kim Drake wrote in their nomination form.

Walker first became involved in the union in 1987 as vice-president of Worksite #40. She held that position until 1990.

She took a short break from the union to start her family but returned in 1996 to become a ward representative and sit on the Nursing Advisory Committee.

Board members retire

Cheryl Lange

Cheryl Lange has worked at the Health Sciences Centre since 1987 and currently works in the Intermediate ICU.

Lange has been involved with Local 10 since 1981, holding positions such as vice-president rehab and co vice-president general.

Other union involvement includes board representative from 1995 to 1998, provincial treasurer from 1998 to 2000 and provincial vice-president from 2000 to 2003.

Betty Woodman

Betty Woodman, who colleagues describe as someone they can always rely on to get things done, will be retiring from her position with the board of directors. In 1988, she came to the Grace Hospital.

She held several positions as various locals, including vice-president of the Grace Hospital local. She also currently sits on the finance committee.

Woodman became a board member in 1999 and will retire from her position April 30, 2009.