April 29

 

 

 

Jerome Freiburger – VFL ticket sales need that last little push, keep spreading the word and getting those tickets out there. We are down from our overall sales last year but trending in the right direction. Keep it up!

-          Bingo, schedule and agenda has gone out, we still need some volunteers and extras/replacements, if you’re available contact Jerome or Bill Pegg to get your name down.

 

 

$266 up for grabs

Laura Power, Jayne Metzag and Troy Stuebing went up to draw the elusive black marble with no luck, the pot lives on.

 

 

Ed Simon, Jerome Freiburger and Jim Kibble

 

Our very own Rotarians: Ed, Jerome and Jim gave us an overview and their take on the Ontario Retirement Pension Plan (Bill 56 and 57). This Bill is to take effect on January 1, 2017.

-          The Bill, when implemented, will draw a 1.9% employee contribution, which will be matched by the employer. It’s a defined plan and is mandatory for ALL Ontario employers.

-          This will impact all people- either as an employer, employee or consumer.

-          Liberal Government suggested the Bill and has a majority Government, so they have plenty of voting power to implement the Bill. Their motivation behind this is to help people in Ontario save for their retirement on an individual basis.

-          They took this idea to the Feds to enhance the Canadian Pension Plan but the Feds said they didn’t want to take this on, instead, they allowed Ontario to go it alone and produce their own Provincial Plan.

-          Business Owners/Non Profits/anyone required to opt in will have 1 year to figure out and decide what they are going to do and how they will use it…it has to be implemented its just a matter of getting individual infrastructure set up.

-          An employer will have a max contribution on a salary of $90,000 up to 1.9% matching.

-          Even if you (an employer) currently contribute to or have a matching RRSP they are still obliged to be a part of this plan.

-          It will be a function of your T4-, which poses some logical concern and leaves rules up in the air- because several other factors could be shown on the T4 as income generating- i.e. benefit plans.

-          The infrastructure for this is not yet set up and the cost associated with the plan has, perhaps, is undervalued.

-          This may or will impact current plan providers- i.e. insurance companies/carriers who provide benefit/savings plans.

-          It is not determined how this will play out with self-employed individuals just yet.

 

 

Week of May 4-10

 

 

Simon Adler               May 5

 

 

 

Trisha Crawley and Jack Kinch           1 yr. May 6, 2014

 

 

 

Stuart Mitchell           5 yrs. May 5, 2010

Troy Stuebing            5 yrs. May 5, 2010

Tom Jeary                  24 yrs. May 6, 1991

 

 

 

Jonathon Swift