Update on Laurier Pension Plan Valuation and Plan Sustainability
Pension & Retirement Services
Due to legislative requirements, Laurier was required to perform a triennial actuarial valuation of pension plan assets and liabilities at December 31, 2012. The valuation report is now complete, and indicates that Laurierís pension plan continues to face a large deficit.
As part of plan sustainability and temporary solvency relief measures, changes were implemented to the pension plan in 2012, including increased employee contributions and changes to post-retirement indexing and early retirement provisions.† These changes have helped improve plan sustainability, and has allowed Laurier to receive Stage 2 approval for temporary solvency relief from the Ontario government.
For further details, please see the following memorandum:† https:///documents/57208/2012_Valuation_and_Stage_2_Solvency_Relief_Memorandum_Final.pdf