U.S. Steel Canada Inc. (formerly Stelco), November 22, 2021
November 22, 2021
On November 22, 2021, Stelco filed Surplus Applications for each of the Non-Core Plans (the Stelpipe Hourly Plan, the Stelpipe Salaried Plan, and the Welland Salaried Plan) with Ontario’s pension regulator, the Financial Services Regulatory Authority of Ontario (“FSRA”). These Surplus Applications included Surplus Sharing Agreements signed by Koskie Minsky LLP (“KM”) on behalf of the surplus sharing group members of each of the Non-Core Plans who sent in Authorization and Membership forms.
Before the surplus can be distributed, the Surplus Applications must be approved by FSRA. FSRA is currently in the process of reviewing the Surplus Applications.