Teachers' Pensions Restricted Surplus Regulation, 2017

Teachers' Pensions Restricted Surplus Regulation, 2017, M.R. 63/2018 The Teachers' Pensions Act , C.C.S.M. c. T20 Regulation 63/2018 Registered May 18, 2018 bilingual version (HTML) Definitions 1 The following definitions apply in this regulation. "Act" means The Teachers' Pensions Act . («  Loi  ») "excluded amount" means the cumulative amount excluded from the determination of pension adjustments before 2018 under clause 49(6)⁠(a) of the Act, determined by the actuary as of December 31, 2017. (« surplus exclu ») Use of excluded amount 2 For the purpose of clause 49(6)⁠(b) of the Act, the excluded amount must be reduced as follows and the remainder included to determine the pension adjustments made under subsection 10(7) of the Act: (a) for 2018, the excluded amount must be reduced to 4/5 of the amount determined as of December 31, 2017 and the remainder included to determine the pension adjustment for 2018; (b) for 2019, the excluded amount must be reduced to 3/5 of the amount determined as of December 31, 2017 and the remainder included to determine the pension adjustment for 2019; (c) for 2020, the excluded amount must be reduced to 2/5 of the amount determined as of December 31, 2017 and the remainder included to determine the pension adjustment for 2020; (d) for 2021, the excluded amount must be reduced to 1/5 of the amount determined as of December 31, 2017 and the remainder included to determine the pension adjustment for 2021; (e) for 2022, the remainder of the excluded amount must be included to determine the pension adjustment for 2022.