Price stays the same until the end of 2010

Sent to:CFO, CHRO & Admin Contacts
Date:July 8, 2008

HOOPP’s contribution rates for members and employers will remain the same until the end of 2010 with employers continuing to contribute $1.26 for every dollar that members contribute.

At their last meeting, HOOPP’s Board of Trustees voted to keep the price of the Plan steady, which means that, as of the end of 2010, we will have maintained a stable trend for seven years.

In addition, the Board voted to file HOOPP’s 2007 actuarial valuation with the regulators.

The actuarial valuation reports that HOOPP was 99 per cent funded on a long-term basis at the end of 2007.

Please pass along this information to HOOPP members who have access to hoopp.com, also the fall edition of the member newsletter, Update, will include this information.

If you have any questions about the contribution rates, just drop us a line at info@hoopp.com.