Monday, 31 December 2007

Retirement Packages

We have been informed that the Catalyst Board Meeting will be held on January 16th and hopefully we will have the agreement signed off by the board shortly after. Due to the meeting date being so late in January, we have adjusted some of the implementation dates. They are as follows:

  • you must be 55 on or before Dec. 31st 2007
  • you must indicate your intention to retire before Feb. 29th 2008
  • you will retire on or before March 31st 2008.

Once we have the list of potential retirees on Feb. 29th, then we will be able to determine what severance packages may look like.


  1. Thanks for the updates . Just wondering if we get the same me tooo clause as 686 with retires 55 by June 1 2008 if packages go unclaimed?? or ours all roll over to severance packages??

  2. No, we don't have a "me too" for 686 agreement on packages. All unclaimed packages will go towards enhanced severances.Any monies remaining after severances will then go to extra retirement packages.