The pension and benefits committee met late yesterday, looked at the figures and concluded that all the applications could be accepted, although when the final calculations are done they may cost slightly more than the original $35 million that was allocated. "We're comfortable that the pension fund will still include an ample margin of safety," provost Jim Kalbfleisch said this morning.
No more early retirement applications are being received, except from the few people over age 65 who can take early retirement without pension "enhancement".
With the counting just about done, Kalbfleisch said that a total of 340 people will take early retirement this spring and summer. That includes 140 faculty members (45 per cent of those eligible) and 200 staff (65 per cent of those eligible). "A lot of extremely valuable, long-service people are leaving," Kalbfleisch said, "a lot of institutional memory. And they will be sorely missed."
Individuals should be getting official notice today that they've been accepted, and department heads will get lists within a day or two of who's leaving.
Among non-academic departments, plant operations will lose 45 people, more than 10 per cent of its staff; the library, 19; the Student Villages, 10; co-op education and career services, 9.
Five of UW's senior executives will retire: Roger Downer, vice-president (university relations); Robin Banks, associate provost (academic affairs); Bob Elliott, associate provost (general services); Dorothy Battae, associate provost (finance); Peter Hopkins, associate provost (student affairs). Also leaving will be Trevor Boyes, registrar; Ron Eydt, warden of residences; Paul Dirksen, director of computing services; Rudy Molinary, director of custodial and grounds services; and many other people who are well known across campus.
"This has been a very difficult choice for some people to make," and it will be difficult for UW to say goodbye, Kalbfleisch said. However, "it's an exciting time -- there will be lots of opportunities for people on campus."
"Departments and faculties will now be able to get on with budget planning," the provost said. "The excellent response rate means we will have some flexibility to make replacement appointments." He said the hiring freeze that's been in effect for several months is being lifted, effective today, but appointments will still need the provost's approval.
The exodus of about one-eighth of all UW's staff and faculty "will go a long way in many areas to help them meet their budget reductions," Kalbfleisch said. "But of course the retirements are not evenly spread through the university, so it isn't a complete solution."
We are nearing the end of our registration process. Lots O, T and W are asked to come in to the Parking office January 18-24 to complete there permit application form. These lots have a larger population of students in them who have already registered and paid on the new system. We are asking only faculty and staff to see us who do not have the new green decal with FS on it.
Also a reminder to all faculty and staff on campus who do not have the new decals to come into the Parking office and have their information updated. We will be patrolling the lots starting February 1 and issue warnings to any vehicle that is not displaying the new decal on the driver's side of their windshield, lower left as the University of Waterloo Traffic and Parking regulations state.
And UW's basketball teams host the Wilfrid Laurier University Golden Hawks tonight -- women at 6 p.m., men at 8 p.m. The Warriors welcome Jeff Scott, former basketball Warrior from the 1975 CIAU championship team, as he practices his shots during tonight's Warrior half-time. Jeff, now an insurance broker, is one of only four lucky contestants from across Canada who won a chance to compete in a nationwide contest sponsored by a major brewery. He will compete for a million-dollar prize at an upcoming Toronto Raptors home game in January. If he can successfully sink a foul shot, a 3-point shot and a half-court shot during the half-time at the Raptors game, he will walk away with the million. Spectators in the Physical Activities Complex tonight can see how his practice is going.
Information and Public Affairs, University of Waterloo
(519) 888-4567 ext. 3004
The URL of this Daily Bulletin is http://www.adm.uwaterloo.ca/bulletin
Mail comments to the editor