Contributions still being accepted. Thank You!
PBA changes have already been made ...
(Note: this important explanation is from an email conversation)
Susan, you are right on, the PBA changes have already been made, presumably to allow the changes to the the CBE Hospital Plan and CUPE Hospital Plan announced at the press conference last May. Along with changes to the MLA's and Ministers' plans, Plumbers and Pipe-fitters and subsequently City of Saint John and City of Fredericton. The plan was first amended in August, I believe and then Ron Pink was doing some work for UNB Faculty plan and pointed out some deficiencies which lead to Bill 20 in December.
Any shared risk plan must be approved by the Superintendent of Pensions and is Registered under the PBA, unless, of course, it is a separate Act of the Legislature.
On the Web-site, under technical information, is a document which discusses the way we see upcoming changes coming about. That is to repeal the PSSA Legislation and to apply to register a new SRPP covering the same employers, employees and pensioners, outside of legislation and the legislature. At the same time, what is being referred to as the theft of the approximately $6 billion from the current pension Trust Fund would occur. We suspect the same thing would happen with the TPA and their $4 billion Trust Fund sometime later.