Court Approves Partial Trust Surplus Distribution to Local 330 Members
January 29, 2010
On January 27, 2010, the Ontario Superior Court approved an application by the Administrative Trustees of the Simcoe County District School Board Insurance Trust to approve the partial distribution of surplus to the parties of the Trust (OPSEU, CUPE, OSSTF, ETFO and the School Board).
In accordance with the court order and the Trust Agreement between the parties, the Administrative Trustees will forward $2.2 million to OPSEU. OPSEU will distribute these funds to eligible members of Local 330, who participated in the Simcoe County District School Board Insurance Trust. This includes retired and disabled members who also paid premiums.
OPSEU is retaining an Administrator to establish a court-approved process for the distribution of the $2.2 million to eligible current and former Local 330 members. This process may take up to eighteen months to complete. Further details will provided to members as they become available.
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