News Story

Specified Plan Change Proposals - 1st Tabling

March 22, 2012

At the meeting of March 20, SC Members tabled five specified plan change proposals (SPCs) for consideration.  Each SPC provides a summary of the proposed changes as well as the affected members/groups and the effective dates.  One relates to the RCA (Retirement Compensation Arrangement) and limiting contributory earnings, one proposes changes to early retirement commencement and two proposals are for changes in inflation indexing.  The fifth proposal is for the provision of NRA 60 for Police Civilians, and was originally submitted by a stakeholder.  

Additional proposals will be made by SC Members at the meeting of April 26.  All tabled proposals may be amended or withdrawn up until May 14.  After that point, any further amendments to the final proposals and decisions about them may be made at the meetings of May 24 and June 28.

The SC has been consulting with an independent actuary regarding possible options for contribution rate allocations in 2013 and beyond.  The options will continue to be reviewed and discussed throughout this specified plan change cycle.

In addition to reading the full details of the current proposals under consideration, decisions and processes of prior years may be of interest.