FP Newspapers Inc. Announces Member Approval for Proposed Pension Plan Merger with CAAT

Jan 09, 2020

WINNIPEG, MB / ACCESSWIRE / January 9, 2020 / FP Newspapers Inc. (TSXV:FP, Financial)(OTC PINK:FPNUF) ("FPI") today announced that FP Canadian Newspapers Limited Partnership ("FPLP") has received approval from the members of its registered defined benefit pension plan (the "FPLP Plan") to proceed with the merger of the FPLP Plan with the Colleges of Applied Arts & Technology Pension Plan (the "CAAT Plan") effective January 1, 2020 (the "Effective Date"). On the Effective Date, FPLP will become a participating employer under the CAAT Plan and all members of the FPLP Plan, as well as members of FPLP's defined contribution pension plan, will begin accruing benefits under the DBplus provisions of the CAAT Plan. DBplus is a defined benefit pension plan with a fixed contribution rate for members, matched dollar for dollar by employers.

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