Funded Levels of Canadian DB Plans Climb to 20-Year High
Surging bond prices helped boost defined benefit plans’ funded ratios to 124%.
Law, opposed by governor, is allowed to stand, requiring teachers to contribute more and work longer before earning benefits.
‘Misstatement’ in 2020 financial reporting could lead to increase in teachers’ pension contributions.
The deal will create one of the most significant mergers of its kind, the plans say.