Dipac

Member Alert......Letters are in the mail, some already received, dealing with the intent by INVISTA to seek Solvency Relief as provided by special legislation enacted by the Ontario government to assist companies in dealing with pension under-funding difficulties.As of the most current valuation our pension funds is 35% under-funded.

These provisions are available to the company provided less than one-third of eligible employees, retirees, etc. express, via a mailed-in form, an "objection" to this action.

The DIPAC Board is currently digesting this development and within a week or so expects to be able to share its thinking on the matter and provide some guidance to help you in making your personal decision.

This brief 'alert' is merely to indicate that we are working on the development, and will have more to say in due course.

IT IS EXTREMELY IMPORTANT THAT YOU NOT TREAT THIS AS A CASUAL SITUATION.  IT IS VERY NECESSARY THAT WHEN THE TIME COMES FOR YOUR DECISION (non-objection or objection) YOU DO WHAT YOU BELIEVE IS APPROPRIATE.