Total Plan

 

Actuarial Valuation Results – Total Plan

January 1, 2018 Actuarial Valuation Results

The most recent actuarial valuation of TRAF prepared by the independent plan actuary was as at January 1, 2018. The valuation results for the total plan (Account A, the Pension Adjustment Account and Account B, with and without certain Account B funding assumptions outlined below), is summarized in the following table.

Total Funded Status as at Jan. 1 2018

The next actuarial valuation is scheduled to be performed as at January 1, 2021.

Actuarial valuations of the fund, including Account A, Account B and the PAA, can be found here.

January 1, 2019 Extrapolated Results

The total funded ratio of the plan was extrapolated to be 82.2% as at January 1, 2019. This figure was based on an extrapolation of the January 1, 2018 funded status. An extrapolation incorporates actual investment results, contributions received and benefits paid since the last formal valuation. The limitations are that the plan's actual experience with respect to mortality, retirement and termination since the date of the last valuation will not be accounted for until the next formal actuarial valuation (ie. the extrapolation will continue to rely on assumptions for these variables). The formal actuarial valuation as January 1, 2018 revealed a total funded ratio (including Account B funding assumptions) of 84.5%. The primary reason for the decline is due to the investment return in 2018 of 3.05% (approximately 2.74% net of investment-related fees), which is less than the current assumed rate of 5.75% per annum.