If you are a member of the Municipal Pension Plan, we would like to share information with you about the significant changes that are being proposed to make the pension plan more equitable for all members. The webinars are currently full, but we would ask that you register your interest to assist us in future planning. Please click REGISTER NOW to identify your interest in future webinars.

Rate Stabilization Account Changes as per the Joint Trust Agreement (JTA)

The surplus from the 2018 actuarial valuation has largely been used to pay for past unfunded liabilities. It is proposed that the remaining surplus be transferred to the rate stabilization account (RSA).

New terms in the Joint Trust Agreement (JTA) will ensure future surpluses will be used to first pay for any unfunded liabilities, and then be shared equally between the inflation adjustment account and the RSA until they reach the thresholds to be determined by the Municipal Pension Board of Trustees in consultation with the plan partners.

The purpose of the RSA is to help protect active members and employers from contribution rate increases in the future. Presently, the RSA is capped at $2.5 billion. The proposal is to lift the cap to allow the account to grow through investment income and to transfer the estimated $500 million residual 2018 surplus to the RSA.