Laurentian University Board of Governors Approves Benefit Improvements for Retirement Plan Members

(January 16, 2026) – During a special public meeting held on Friday, January 16, 2026, the Laurentian University Board of Governors approved benefit improvements for members of the Retirement Plan of Laurentian University, a decision that enhances the plan's competitive compensation offering.

This is the first implementation of the University’s Benefits and Funding Policy, which allows the Pension Committee to provide discretionary increases to active benefits accrued, as well as increases to pensions in payment for service after June 30, 2021, when the Plan meets four metrics of fiscal health. 

The Pension Committee includes representatives from the Board of Governors, University administration, the Laurentian University Faculty Association (LUFA), the Laurentian University Staff Union (LUSU), and non-union administrative staff (LUAPS), and representatives from retirees and SNOLAB. 

"This is a very positive development for our faculty and staff, and demonstrates our commitment to providing a competitive and financially sustainable pension plan," said Sylvie C. Lafontaine, Vice-President, Finance & Administration. "The Benefits and Funding Policy allows us to invest in Retirement Plan members in situations where the Plan is doing well. The Plan's strong valuation results have allowed us to take this important step forward in recognizing and supporting our valued people."

The Pension Committee was asked to consider five scenarios of benefit improvement, with estimated costs ranging from roughly $3.5 million to $14 million. The Pension Committee recommended to the Board the maximum benefit scenario. 

The decision to enhance benefits was made possible after an updated actuarial valuation of the Retirement Plan as of July 1, 2025, showed a strong foundation. 

The full details of the decision can be found in the Board Package. With the motion passed, the University will undertake the necessary regulatory steps required for implementation. Future communication will be provided to Plan members through the typical pension communication channels which will outline the specific impacts on their pension benefits.