The pension funds at the U of Guelph have been in terrible shape for some time. It has continued to get worse as management does nothing to solve the problem. Of course senior management gets the biggest and juiciest pensions of all.
There is no way out of the pension catastrophe without major changes to the plans that offer up to 70% of the final average salary of an employee.
The current management group has even decided that the problem is so big they should hide it from the financial statements balance sheet. (more...)
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