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IAM Income Loss Indemnity Plan
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This web site was developed by Koskie Minsky
for the exclusive use of members and beneficiaries of the IAM Health and Welfare
Trust Income Loss Indemnity Plan (the "Fund") who were entitled to
benefits from the Fund as at July 1, 2001.
On June 19, 2003 the Trustees of the Fund commenced an application in the
Ontario Superior Court of Justice to wind-up the Trust and to obtain approval
of a distribution of the surplus on the termination of the Fund, including the
transfer of a proportionate share of surplus to the disability plan for members
who are employed by MTU and Avcorp. To view a copy of the Notice of Application
(in English only) please click on the "Court Documents" button to the left of
this page. The Trustees developed a surplus distribution plan with the help of
an actuary and legal counsel. The distribution was made to certain persons who
were members and beneficiaries of the fund as at July 1, 2001. The employees of
Avcorp and MTU did not receive a share of surplus in cash because their
proportionate share of surplus was transferred to a new disability plan for
them.
A notice of these proceedings was mailed to all eligible members, along with an
individualized surplus sharing entitlement statement in July 2003. To view a
copy of the Notice please
click here. It was published in the Globe and Mail, Le Devoir and the
Vancouver Sun on July 12, 2003.
On September 15, 2003 the Trustees obtained a representation order permitting
Don McLean to act on behalf of all of the present and former beneficiaries of
the Fund. To view a copy of the Representation Order please
click here. On October 21, 2003 the Ontario Superior Court approved the
Surplus Settlement Proposal . To view a copy of the settlement approval order
please click here.
On October 21, 2003, the Ontario Superior Court approved the Surplus Settlement
Proposal put forward by the Trustees and issued an order requiring the Trustees
to implement the Proposal. The Canadian Benefits Consulting Group (the Benefits
Administrator) distributed to all eligible members their surplus share in
December 2003 and January 2004. If you believe you were an eligible member and
did not receive your share please contact the Benefits Administrator at
1-866-579-4839 or by fax at 416-488-7774.
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