Total Plan


Actuarial valuation results – Total plan

January 1, 2021 actuarial valuation results

The most recent actuarial valuation of TRAF prepared by the independent plan actuary was as at January 1, 2021. The valuation results for the total plan (Account A, the Pension Adjustment Account and Account B) are summarized in the following table.

Total Funded Status as at Jan. 1 2021

The next actuarial valuation is scheduled to be performed as at January 1, 2024.

Actuarial valuations of the fund, including Account A, Account B and the PAA, can be found here.

January 1, 2022 Extrapolated Results

The total funded ratio of the plan was extrapolated to be 90.2% as at January 1, 2022. This figure was based on an extrapolation of the January 1, 2021 funded status. An extrapolation incorporates actual investment results, contributions received and benefits paid since the last formal valuation. The limitations are that the plan's actual experience with respect to mortality, retirement and termination since the date of the last valuation will not be accounted for until the next formal actuarial valuation (i.e., the extrapolation will continue to rely on assumptions for these variables). The formal actuarial valuation as at January 1, 2021 revealed a total funded ratio of 84.7%. The increase is largely due to net investment earnings of approximately 16.56% during 2021, which was greater than the assumed rate of 5.50%.