MEMBERSHIP IN SSPO IS OPEN TO:
► Surviving Spouses Of Pensioners
► Current Employees (who are members of the Salaried Pension Plan)
► Retired Salaried Non-Pension Benefits Participants in Health Benefits (group medical, life, and dental) – often referred to as the Partial Wind-up Group (1996).
MANDATE - STEL SALARIED PENSIONERS ORGANIZATION (SSPO Inc.)
Ensure that Stelco salaried pension plan members are treated fairly by the plan(s) administrator (Stelco Inc.), Governments, and Government regulatory agencies.
Protect the basic pensions of the salaried retired members of the following Ontario registered plans as well as Other Post Employment Benefits (OPEB’s).
The governance structure of SSPO is as defined and regulated by SSPO By-law, dated February 25, 2006.
WHO WE REPRESENT
Salaried SSPO members in good standing, of the following Ontario registered defined benefit plans:
* Now U. S. Steel Canada **Now Mital Canada
COMMUNICATIONS WITH THE MEMBERSHIP
SSPO communicates with members in good standing through annual membership meetings, and periodically by e-mail, regular mail, and posting on the SSPO Website.
· Communicate with members in good standing, US Steel Canada (formerly Stelco), the media, governments, politicians and other groups as required.
· Maximize membership.
· Raise funds to cover expenses.
· Monitor developments in the pension field, and gather information to better understand the options for members of a defined benefit pension plan.
· Participate in a joint Pension Advisory Committee with Salaried Active Members and, appoint committee members to act on behalf of pensioners.
· Interact and collaborate with other pensioners’ organizations that represent members of defined benefit plans.
· Closely monitor Stelco salaried pension and benefits plans.
· Initiate political, legal and/or lobbyist action as required, to protect the pensions & benefits of our members.
CURRENT MEMBERS OF THE SSPO BOARD OF DIRECTORS
SSPO BOARD MEMBERS SITTING ON THE PENSION ADVISORY COMMITTEE
FORMER SSPO BOARD MEMBERS SITTING ON THE PENSION ADVISORY COMMITTEE
Dennis Wright (Retiree LESC)
SSPO BOARD MEMBERS SITTING ON THE CANADIAN FEDERATION OF PENSIONERS BOARD OF DIRECTORS
SSPO BOARD MEMBERS SERVING ON CFP SPECIAL COMMITTEES
Gerry Goddard (Membership Committee)
SSPO finances its operations through annual membership fees. The current annual membership fee is $25. Every member shall pay a one-time initial membership fee of $50, which includes the first year membership fee. The Organization can make allowance for Hardship cases should they express their inability to pay the full amount of fees requested of members in the form of a letter to the board.
SSPO only communicates with members in “good standing”. A member in “good standing” is one who has paid his annual membership fee.
Inform A Friend a friend of our Website.
Please do not ask us legal questions. Although the Organization does have access to legal advice, resources are limited.
The information provided on our website is offered as a service to our members and should not be relied upon as specific legal or financial services advice. Many factors unknown to us may affect the applicability of any statement or comment made on our website to your particular circumstances.
Since its inception in the Fall of 2003, SSPO has remained a non-profit organization established by a group of volunteer pensioners who, first of all, hope that US Steel Canada (formerly Stelco Inc.) thrives and prospers for many years. Members of the SSPO Board Of Directors are all long time employees, now retired, who are Stelco supporters. We have no agenda other than to see salaried pensioners treated fairly in whatever the future holds.
In July 2003, due to rising concerns about Stelco’s financial health the state of funding of Stelco’s various pension plans, and amid reports of a need to reduce “legacy costs”, a small group of retiree volunteers (formerly known as the Steering Committee) formed the Stel Salaried Pensioners Organization (SSPO) to defend our pensions and benefits. The ongoing financial crisis that Stelco faced at that time poised serious risks for the long-term viability of not only Stelco, but its Pension and Benefit Plans. This raised serious concerns for the long-term survival of our Pension and Health Benefits (group medical, life, and dental) Plans, and the personal financial security of each Plan member. There was an obvious need for Pensioners to be organized, and be prepared to act as a large group to protect our vested interests in a timely fashion as the need arises.
We began by asking retirees to become members of SSPO by signing up on our website, and over 1200 had done so by the time Stelco sought bankruptcy protection (CCAA) on January 29, 2004. The original SSPO Steering Committee was endorsed by an overwhelming majority of the voting members in early January 2004. Today we have over 1900 memberships.
Founding members of the SSPO Steering Committee, September 2003 – March 31, 2006
Within days of Stelco filing for CCAA protection the judge presiding over the proceedings directed that SSPO represent all retired salaried employees of Stelco operations in Ontario, a group of approximately 3500. On April 13, 2004 justice Farley of the Ontario Superior Court Of Justice further directed that SSPO represent approximately 600 additional former pension plan members and surviving spouses who are in receipt of medical, dental, and life insurance benefits from Stelco Inc., but not pensions (commonly referred to as the Partial Wind-up Group of 1996)
SSPO successfully represented over 4100 beneficiaries in the Stelco Inc. CCAA court proceeding, spanning a 26-month period. We chose The Toronto legal firm of Koskie Minsky, who are considered among the best in the field of employment law, to be legal counsel for Salaried Pensioners throughout the CCAA Hearings, and continue to consult with them on an ongoing basis as required.. Salaried Pensioners emerged from the CCAA with their pensions and benefits fully intact.
A restructured Stelco emerged from CCAA court protection on March 31, 2006. The membership of SSPO recognized the need for Pensioners to continue to have a strong and united voice carrying on into a future clouded with uncertainty. Therefore SSPO was incorporated, formalized its mandate and operations structure (By-laws), and on March 22, 2006 the membership elected its first Board Of Directors.
SSPO Inc. First Board Of Directors – Elected March 22, 2006
Current Members of The SSPO Board Of Directors
This Site Is Maintained By Concerned Stelco Salaried Pensioners