by Randy Barkhouse
The following news about the Retiree’s Trust Fund surplus comes from the Sept 29th Pension Advisory Committee meeting.
- Automatic indexation of 2.8123% will be awarded in January 2024.
- An RTF surplus of $46 million was identified in the January 2023 actuarial valuation.
- The RTF trustees can use their discretion to award catch-up indexation using up to one-half that surplus.
- At $23 million that could cover about 3% of the 14.88% of past missed indexation.
Given recent declines in market returns, whether any catch-up indexation will be awarded is uncertain.