I’m paying for my pension, and the government contributes to it too. Teachers are living longer, but plan actuaries have been continually adjusting to account for that.
- Pension assets are well-diversified in stocks, bonds, real estate
and other investment classes.
- Contribution rates include a cushion so the plan can manage lower
performance without increasing contributions.
- Deficiencies in the plan must be eliminated within 15 years. The oldest current deficiency will be paid off in 2017, and then contributions may start to decrease.
- The Alberta Teachers’ Retirement Fund Board has a dual governance model that is the envy of other public sector plans, including three members of the ATA and three appointees from government.
Myth: You’ll be lucky to get the money that you put into your pension back out.
Fact: Third-party valuations are done every three years to ensure that contribution rates and growth expectations are sufficient to pay out any pensions earned.