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l-WAT'EmmeZIE'Wednuday. Februlry 20, 2013 o 279 Weber St N . Sum: 10 win/cm». (mono N11 “is tIQJQsolti‘UFu Smith-9181 Peter Wit-Kurt _ PUBLISHLR THANKS mess CUB CAR Q0. 0 Bob y‘RBANAt‘ mm RACES AWAYS BRING BACK editonalfl'waicrlul'hmmcle ca .' \p\)fl\@\~3lcrltllllrnnk‘|€ (a SOME POND MEMOR‘ES w “T Jordan liR(‘IT . » .~ ' REPORTchxt 11s - 0 .¢ Jercitw‘wutettmwhronicle not a. Jdltlc\ JACKSON â€"_. ' ’ REPORTER cit 3m " " ' . “Minot!(“outwith-chum“lc to fl ;%{‘u Al)\i~.leSlN(i *" \ N . Ted ANDERSON m 230 ' - . . REGIONAL AI) MANAGER fl fr tundcminwhaterlmthniclc cu \ fl... 1s," a???" ‘ _ '< x; xx SALES REPRESENTATIVI; , ‘ ’ " “a: . i Michellc STEVENS all 21: \\ ‘ at“ I . "isletenswwalerltxrhrtinicle.tJ ‘4 ‘ surfs RH’RESFNTATIVE ‘ \ 1 Bl“ BOSHART ext. 223 » } hhishanu‘walerltxxhronicle ta ‘ \ ! SALES REPRESENTATIVE ”or 1 AIfENSett.128 .. a“ _ . r . unsfiuuterlinichnimclc 1:4 ‘ . s 5; . ~\ .':. - p 1 5194395530 ,. "gmé’amxs _ ». ‘ , . ClRCUlATlON . . 519-886-2830cxt. 213 . . w i. I . , I Canadian Publications Mail Sales y I x , . y ‘ x 1 , , o o o o ' i “bm‘yf‘gmmmmfl 1 w >\ it 1 1 1 in if in: is OMERS has sustainability issues 1 all 7 . 5 Mutilation-15mm“ Serial Num» 0 or", Pierce, vp of Public merit returns are tied direct- : remains. Sharing the pain mm a. ems. more w w our grown so new 1 axon. . . . . ' . that the definedbenefit does any organisation l m Q he public/pnvate dmde over compensation. pen- pension he represents believe it can beat GDP by 1 v stons and taxpayers’ ability to pay for steady should not be criticized but five per cent every year. year i was, increases seems to be cows to a head. should be replicated. after year. g &m y Some of the most spirited debates in the Waterloo Pierce has a funny . OM_ERS tells us_it Will V Chronicles pages and on our website recently have been understanding of “success" ’ 3 now unvest less in the The mm Omit; "u My“ about the sustainability ofpublic pensrons and the com- and an Economics 101 _ _ volatile stock market and each Wednesday by Metroland pensations costs ofgovemment employees course might be most help- look to invest directly into ; MGMG'WPW» That battlewaskickedofl‘inthefallwith the province fulto him. When you needa companies to obtain this ‘ ammo mass COUNcu. squaring 0? against public school teachers, but on the “SO-million bailout every ‘ growth. It will also buy more TheWucrlooGtroriicIe ISi member local level Its been extended to compensation C055 for year from the government hard assets like buildings i urn: 0mm Press Council. which firefighters, police officers and mumczpalworkers ‘ so that your pension plan and office towers. ~ wfisscnprnxnlszm m, The fit“ tth that must be recognized is that this does not go insolvent. that The only problem With l â€" M m5. lip-mom firms?“ a, sump Of “It“? 15 not some nameless and faceless FOl‘ is not success. That is this is that every other pen- , conduct should first be taken to the “3600" Of StatiSthS- “If-“Y are In fact our friends, neigh- almost half a billion dollars double in the five years sion plan out there is doing 1 newspaper. Unresolved complunts hours and familymembers . ‘ every year, year after year, between 2am and 2013. In a the same thing. CPPlB ($156 5 2m befrguéhllzo» 052ml? 2"?! The reality is that public spending andvpublic con- General Motors and world of two per cent infla- billion in assets), Ontario 5 ifo‘é"?u.‘m.o SNélhsarefii I“ e sumption are M0 of the pillars that have driven the “0“ Chrysler received bailouts, tion, what other expense teachers‘ pension ($117 bil- ; ' l . nomic recovery in Canada. A" 355811" 0“ that SCCtOf but they are paying the gov- goes Up 100 per cent in five lion in assets) and Quebec's COPYRIGHT could have seen a worsening of‘the economic situation emment back with interest. years? Caisse pension ($204 billion “maid“? We, m'hmmfiryafi and wouldn‘t have seen the "an?“ economy outstrip Ontario municipalities OMERS is telling us now in assets) are deploying the used a“, is, perm! “mm. the recovery Of the other G-8 nations, most notably the like Waterloo are contribut- that this 50 per cent same strategy. so OMER§ m1 purposes. All other rights are United 5131“ ing around $900 million a increase in taxpayer contri- small 555 billion in assets is reserved and commercial use is pro- But the government’s infusion ot'cash into the market- year into the OMERS penâ€" butions to the pension plan no match when searching hibile‘d, To make lip m; of ”It: place can only be sustained torso long when federal and sion plan. The plan did not will be the last time they out an ever smaller pool of l ”Magi; i";£'°?":':0;y_ WON/ma?“ govemments animus {W551}? defiC'tS tn?" have the funds to meet come cap in hand. investment opportunities. r 22:3?“ fun,” mmmmon com stimulating that gromh, while mumctpaliues are dealing future obligations so CUPE Nothing is further from Within three years, tact Bot: Vrhlnac. Editor. Waterloo mm a finite propertytax base to fund "111185 like a grow- and OMERS had the the truth. OMERS needs to OMERS will be paying out Chronicle. 279 Weber St. N. stim- ing infrastructure deficit after the funding has dried up McGuinty Liberals agree average a seven per cent more in pensions than it m'w“"’°°'0"“"°Nu “m8 from the upperlevelsofgovemment . 4 that all municipalities in return every year from now takes in from employees LETTERS POLICY There ts some indication that a market correction ls Ontario would increase till 2024 so that no more and employers which w1ll 1mm", 0, who, mm can," we underway and that the private sector Will have to pick up their contribution into bailouts are required. They make it even harder to make writer's full name. sign-tune. address the ball Md 00min“? the W0ka WW At the same OMERS by 50 per cent. tell us that they will do this their seven per cent goal. $15“; numflmmfi;fi time, workers “ed to the PUNK purse “filth“? to make At a time when Ontario because they have averaged _ (ZUPE and OMERS are minnow, purposes mi w.” m. it somesacnfioes andsharetnsomeofthepam. citizens are having a 10 per cent returns in the giVing the taxpayers oi published Names will not he wlth- ( “if “We- ., o‘er: tougher time making their past. Past results are no Ontario all kinds of reasons be“ We ”WWW"! to edit cm V555; 21”; . ; own pension payments. indication offuture results, why we should continue to mfiv‘gr'l'c’a'pzmg'hw‘lgzug’: fi" -"< they are being taxed to Almost every economic support their defined-belie A. he “trimmed by tau to 5103309th «A s ‘ ’ ‘1 make sure municipal organization in the world is fit pension plan. but in the or by email to editorialfiwatcr' 3914 7 ~ employees do not suffer. In stating Canada will be lucky end this is film a big PM” A loochromclcsvca or by mail or dilly '..,fl'r<~~:‘to..w' ~_ ‘- Waterloo. the city's contri- to have two per cent GDP scheme and we all know : acalosyucrlsfé ".'(‘,’"\',§2',f,',,jlf’ 5:12???” " , bution into the OMERS growth each year for the that these schemes (‘Vt‘ntlI' (JANH'MQ ' ‘ ‘ ' r “a" . 4.4 . pension plan will almost foreseeable future, lnvest~ allycollapse. l 1