The premiums for our Long Term Disability Plan were increased from 1.3% to 1.5%.
Due to the loss of plan investment revenue and an increase in the number of new applicants receiving benefits, this levy passed as a way to offset those challenges.
The SGEU LTD plan outranks industry standard plans on duration of coverage, supporting members for three years rather than two, and it also outranks industry standard plans in terms of the size of the benefit received.
We also reduced our union dues from 1.75% to 1.7%.
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