ACSC 533 Lecture Notes - Lecture 16: Home Insurance, Liability Insurance, Vehicle Insurance
20 Mar 2018
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Document Summary
Like dc plans, contributions to tbps are fixed. Like db plans, tbps provide a db-type pension benefit and allow for pooling of investment and longevity risk. If for example there are insufficient funds to provide the targeted db benefits may be reduced. Target benefits are allowed in most canadian jurisdictions for multi employer plans; however, until recently, they were not contemplated for single-employer plans. A version of tbp first appeared in canada in new brunswick in 2012. Circa 2017, their legality elsewhere in canada was still a work in progress. Some provinces have promised legislation so as to permit tbps, as has the federal government. A retirement actuary has expertise in the design, funding and regulatory aspects of public and private retirement plans. A retirement actuary generally consults with private pension plans sponsors (typically employers) on behalf of plan participation (typically employees)
