Governance and Funding
Funded status grows to 120%
The CAAT Pension Plan stands 120% funded on a going-concern basis, with a funding reserve of $2.6 billion, based on its latest actuarial valuation as at January 1, 2019. This is an improvement over last year’s valuation that showed the Plan 118% funded with a funding reserve of $2.3 billion.
Effective joint governance
Through their representatives on the Plan’s governing bodies – the Sponsors’ Committee and the Board of Trustees – members and employers have an equal say in, and share the risks of, Plan decisions. This joint governance structure is recognized as a model for success in keeping defined benefit pension plans sustainable.
The CAAT Plan’s latest annual report, released April 26, details the strong long-term performance and prudent decisions behind the Plan’s 120% funded status and its focus on benefit security. The report also covers the creation of DBplus, CAAT’s award-winning second plan design, and the Plan’s progress on its strategic initiatives that include growing and diversifying the membership.
To remain on track and focused on our goals, the Plan relies on the leadership of an accomplished team of professionals. With a mix of industry experience, education, and a commitment to our long-term objectives, we have a team with a wealth of expertise to meet future challenges.
Be a Pension Champion
Modern Defined Benefit (DB) pension plans are good for members, good for employers, and good for Canada. CAAT Pension Plan experts regularly advocate on behalf of Modern DB pension plans, and promote pension coverage across the country.