December 17, 2010
We are pleased to advise that the BCE Ontario Employees’ Pension Surplus Committee (the “Committee”, formerly the REP Steering Committee) and BCE have agreed in principle to proposed terms for a sharing of the partial wind-up surplus assets between BCE and eligible members. This is a significant milestone in this complex process. The Memorandum of Understanding includes the terms of a detailed proposal that will be recommended to the eligible surplus sharing group members for their approval.
We expect to advise the sharing group members of the terms of the Memorandum of Understanding in more detail by mail in the first half of 2011. We will be providing the sharing group members with a comprehensive information report, followed by member meetings in several locations where the surplus sharing group members will have an opportunity to ask questions of the legal counsel and the consulting actuary engaged by your Committee. The report will include an opportunity for each sharing group member to vote on whether to accept the proposal as recommended by the Committee.
Further details will be posted when available.