Any Plan changes that come out of the Review will have no impact on benefits that you have already earned. If you are a retiree, any approved changes to the Plan will have no effect on your pension.
If you are an active member, it is premature to say whether the Review could affect benefits that you earn in the future. The Review will help us determine if there is a better and more effective way to deliver benefits in the future, and at what cost. That said, it will be up to the SC Board to determine what, if any, Plan changes will be considered as a result of the Review.
If the Review results in proposals for changes to the pension plan, members, unions and employers will have an opportunity to comment on those proposals before the SC Board of Directors votes on them. As always, any specified changes to the Plan will require approval from a two-thirds majority of the SC Board of Directors, which is composed of an equal number of employer and member representatives.