CAAT Pension: Sponsors Maintain Control of Plan Governance

Posted on Tuesday, October 23rd, 2012

After extensive and successful consultations with senior government and elected officials, the CAAT Plan has negotiated an agreement with the province that provides additional contribution stability and maintains Sponsors’ control of Plan governance, funding and investment decisions.

As a result of reaching a negotiated agreement, the Plan has secured a number of outcomes critical to the ongoing stability and good governance of the Plan. We have negotiated:

  • Exemption from having to pool Plan investments in any new provincial ‘pooled fund’.
  • Temporary 4-year valuation cycle, up from the previous 3 years. This allows more stability by providing longer periods to manage investment market and interest rate volatility.
  • Exemption from any proposed special legislation determining funding decisions, which would have significantly impacted the Jointly Sponsored structure and decision-making that has been key to the Plan’s stability.

To secure these outcomes, the Plan will adjust the Funding Policy by adding a temporary “Level 1” which will be in effect until December 30, 2017. Our Sponsors’ Committee strongly believes the Plan has achieved the best possible outcome to secure the pension promise.

CAAT Pension Plan

October 23, 2012

Go To CAAT Pension for news announcement here http://www.caatpension.on.ca/en/about-us/news

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