FLASH - LTD Money

What will happen to the $900 000 in the LTD Rate Sabilization Fund?

The LTD Rate Stabilization Fund will be used to create an OCETF member contribution holiday. This essentially means that teachers currently paying LTD premiums will not have to pay LTD premiums for a period of time but will still have coverage. The Stabilization Fund is no longer required now that our plan resides with OTIP. For a detailed explanation/notice of these legal proceedings and a copy of the application please click below. If you wish to oppose the application the process can be found in the application record.

What if I'm not paying LTD premiums when the holiday takes effect?

The premium holiday impacts only those members of the LTD plan who are actively paying premiums. If this application is approved, members who are on leave and have terminated their coverage, members who are receiving LTD benefits and OCETF members who are no longer covered by the plan due to age 65 or having attained a 66% unreduced pension factor, will not be effected by the holiday. Just as these members would not be responsible for any increase in premiums during the time they are obligated to not pay any premiums, they are similarly not impacted by a premium holiday which takes place during the same period.

If you wish further information please contact Peter Giuliani at the OCETF office.

Application Record

For more information on the plan and the funds click here