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Update Pension and Benefits Plan Designs

Review and update McMaster’s pension and benefits plan designs.

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Overview

Ensure McMaster’s pension and benefit plans reflect current market practices and that there is a sustainable long term plan to manage costs and service.

  • Continue to execute on the approved 2019-2021 ELR strategy regarding health and dental benefit plans design
  • Continue to evolve pension and benefit activities and specialist roles as needed for program compliance, administration and employee/retiree support.
  • Develop position papers on current market practices and future opportunities which reflect the HR Review recommendation to reduce the number of plans and administrative costs associated with them.