Salary Indemnity Fund
VSTA SIF 2017-18 FEES – WAIVED
As per the decisions made at the 2017 VSTA AGM, fees will be permanently waived for all existing members of the VSTA Salary Indemnity Fund. The VSTA SIF is an optional fund that ‘tops up’ the BCTF Salary Indemnity Plan that is automatically available to all teachers. If teachers have been up-to-date on VSTA SIF fees until 2015-16, they will remain members of the VSTA SIF in perpetuity until they retire, terminate employment or the VSTA SIF is exhausted of funds. To ascertain if you are a member of the VSTA SIF or for any other questions regarding the Fund, please contact Kim at the VSTA office directly at firstname.lastname@example.org.
What is it?
As a member of the VSTA-SIF, after depletion of your sick leave, you may be eligible to a top-up payment of your BCTF salary indemnity which would then equal 65% of your gross salary.
The yearly fees for continuing and associate members are $40 and $45 respectively. Members who do not pay their fee by December 31 of each year will be charged a $20 reminder fee, and if they are in arrears after one full year, be de-activated from SIF membership. The salary top up provided by the plan is available for a maximum of twenty (20) days. Teachers are reminded that the yearly enrolment fee needs to be submitted by members directly to the VSTA and is not deducted by payroll.
Is there a process for a continuing teacher who has been laid off and subsequently reinstated to a continuing position to reactivate their SIF membership? Are there specific deadlines?
If a VSTA member receives a continuing contract after the October 31st deadline, the member has the option of applying for membership either at that time or the following September. New application for membership to VSTA-SIF must be made within two months of continuing appointment with the VBE in order to qualify for membership during the current year. As well, if a VSTA-SIF member has been laid off and then rehired from the recall list to a continuing contract, they can apply to be reinstated as an active member. The rules as stated above will then apply. Reinstatement would not require the payment of the initiation fee but would require the payment of the regular yearly fee. If the recall period has lapsed then application would be as a new member.