A member who is making contributions or, if not making contributions, is on non-contributory leave for up to three years on approved disability leave, or at the point of maximum pensionable service (35 years).

The total value of all benefits accrued by pension plan members and other costs for which the pension plan is responsible.

The estimated cost to the pension plan of providing the increased benefits gained by a member who buys or transfers optional service. An actuarial reserve calculation takes into account a number of factors including salary scaling.

A process to determine the financial position of a pension plan at a specified date.

The adjusted value of a pension plan's assets used by the actuary to determine the funded status of the Plan.

A person authorized by their designation as a Fellow of the Canadian Institute of Actuaries to prepare and sign actuarial valuations.

A weighted average measure of the cost of a group of goods and services that are normally purchased by Alberta households. This includes things such as clothing, food, housing, gasoline, health and personal care services, recreation, and education.

Alberta Pensions Services Corporation (APS) is responsible for administering seven statutory pension plans under the direction of four pension boards and the Government of Alberta, as well as two supplementary retirement plans.

The designation of your pension benefits to one or more beneficiary.

If your primary beneficiary or beneficiaries are deceased, your alternate beneficiary or beneficiaries are entitled to your benefits. See also beneficiary and primary beneficiary.

A specific type of disability income replacement plan that is offered by an employer for its employees and is approved by MEPP's administrator, Alberta Pensions Services Corporation (APS). Where the LTDI plan is approved by APS, the period of LTDI coverage is considered mandatory service for pension purposes.

The criteria used by APS to approve LTDI plans are:

• All members employed by the employer in the group to whom the LTDI plan applies, except for those who are not eligible for coverage by reason of medical requirements, must be covered by the LTDI plan;
• A member must not be required to apply for a pension as long as the member qualifies for benefits under the LTDI plan; and
• The LTDI plan must be filed with APS.

Any item of economic value owned by an individual or entity, especially one that could be bought and sold.

Your pension partner is automatically your beneficiary if you die before retirement. If you do not have a pension partner, the beneficiary is the person(s) you name to receive (a) a benefit if you die before retirement, or (b) the pension payments for the remainder of a guaranteed term if you die after retirement. A beneficiary can be a charitable organization. If you do not have a beneficiary and you do not have a pension partner, your estate is your beneficiary.

The federal pension plan administered by Human Resources Development Canada. It applies in all provinces and territories of Canada except Quebec where the equivalent Quebec Pension Plan applies.

Managers of the Government of Alberta contributed to the Public Service Management Pension Plan until the MEPP was formed. The Public Service Management Pension Plan is now a closed plan, meaning it continues to pay out benefits (to those who left the plan, retired or had 35 years of service before August 1, 1992) but does not accept new members.

By staying with the same employer and moving to the Public Service Pension Plan or vice versa with no break in pensionable service, you become eligible for combined pensionable service, if the move occurred on or after January 1, 1994. This means your service in both plans is combined to determine when you are eligible to receive a pension, your highest average salary, and any early retirement reduction from either plan.

The amount of money paid in a one time payment that is equal in value to your future pension payments. If you are vested and you leave the MEPP before age 55, you are entitled to the commuted value of your pension payable on post-1991 service.

A weighted average of the cost of a basket of goods and services that are normally purchased by Alberta households. It includes such things as clothing, food, housing, gasoline, health, personal care services, recreation and education.

Money paid into a pension plan by you and your employer. Your contributions are tax deductible and are made through payroll deduction. All contributions go directly to the MEPP Fund.

An increase in a pension benefit to compensate for an increase in the cost of living. Your pension will increase each January by 60 per cent of the Alberta Consumer Price Index (CPI). The CPI is a weighted average of the cost of a basket of goods and services that are normally purchased by Alberta households. This includes things such as clothing, food, housing, gasoline, health and personal care, recreation, and education. COLA increases are calculated by taking the average of the CPI during the 12-month period ending each October and comparing it to the previous year's 12-month average.

Your current status of employment with your employer, for example, full-time, part-time or terminated (no longer contributing to the Plan).

A member who is no longer employed by a plan employer, has left contributions in the Plan and has yet to choose a pension option.

A pension which starts at some future date.

A plan which pays a monthly pension based on your pensionable salary and length of pensionable service. The formula driven nature of such pension plans allows you to estimate your pension at any time in your career. Unlike other types of pension plans, the investment performance of the pension fund will not affect the calculation of your pension.

To qualify as a dependent minor, a child must be:

• Dependent - financially supported and not married
• Minor - under 18 years of age

Retirement before being eligible to receive an unreduced pension. See "normal retirement" and "postponed retirement".

A member's contributions and interest cannot fund more than 50 per cent of the value of a pension on service after 1991. Excess contributions is the amount of member contributions and interest that exceeds 50 per cent of the value of the benefit being paid for post-1991 service. Contributions paid and service credited for optional service are not included when calculating excess contributions.

A fund was established under the legislation governing the MEPP to hold all employee and employer contributions and investment income. All benefits are paid from the MEPP Fund. All assets in the MEPP Fund can only be used to pay the promised benefits and cover administrative costs.

You can choose a pension guaranteed for either 5, 10 or 15 years. Guaranteed-term pensions are paid for your lifetime, but if you die before your guaranteed term has expired, your pension is paid to your beneficiary or estate for the remainder of the term. For example, if you choose a 10-year guaranteed-term pension and die 4 years later, the pension will be paid to your beneficiary for the remaining 6 years.

The average of your five highest consecutive years of salary used to calculate your pension benefits.

A pension option paid as long as either you or your nominee continues to live. If you choose a joint-life not-reduced pension, on your death your nominee will be paid the same amount you were paid for as long as your nominee lives. If you choose a joint-life reduced-by-one-third pension, the pension to the survivor will be reduced by one-third after your death or the death of your nominee.

A period of service during which a member is, with the approval of the employer, on leave from all or a portion of their regular duties of employment and is receiving pensionable salary that is less than regular pensionable salary from the employer. During periods of leave with partial salary, member and employer contributions to the pension plan are required.

The MEPP liability is the total value of all benefits earned by MEPP members and other costs for which the MEPP Fund is responsible.

A type of RRSP that is locked-in and must be used to provide you with a lifetime income anytime after age 50. Most financial institutions offer LIRAs.

A type of disability insurance offered by an employer for employees who become unable to perform their normal work because of a physical or mental disability. If the LTDI plan is approved by MEPP's administrator, Alberta Pensions Services Corporation (APS), the period of LTDI coverage is included as service for pension purposes.

Marital status can be single, married, common-law, separated, widowed or divorced. See "pension partner" for further information.

If a marriage ends, the Court will treat the pension asset as one of the items to be considered when property is divided. A Matrimonial Property Order (MPO) is a court order under the Alberta's Matrimonial Property Act or similar legislation outside Alberta. A pension can only be divided when an MPO is filed with MEPP's administrator, Alberta Pensions Services Corporation (APS).

The unique number assigned to you by Alberta Pensions Services Corporation's (APS) pension administration system. The Member ID is printed on publications sent after January 2004, including your annual statement, enrolment package or benefit estimate package.

Your status under the Plan. See "active member", "deferred member" and "suspended member".

mypensionplan is a secure website that provides active members and deferred members of the Management Employees Pension Plan with access to personalized pension information.

The person you name to receive your joint life pension if you die first. Your nominee must be a person eligible under the federal income tax rules. If you have a pension partner on the effective date of your pension, the nominee must be your pension partner unless they sign a waiver before pension commencement or you sign a long separated spousal exclusion form.

If you have a pension partner at retirement:

• The normal form of pension for pre-1992 is payable for your lifetime, and if your pension partner is still alive when you die, they will receive a pension equal to 75 per cent of your pension
• The normal form of pension for post-1991 is payable for your lifetime, and if your pension partner is still alive when you die, they will receive a pension equal to 66 per cent of your pension for the rest of his or her life.

If you do not have a pension partner at retirement:

• The normal form of pension for pre-1992 service is payable for your lifetime.
• The normal form of pension for post-1991 service is payable for your lifetime, and if you die within 10 years of starting your pension, the payments continue to your beneficiary(ies) for the balance of the 10 year guarantee.

Retirement at exactly age 65. See "early retirement" and "postponed retirement".

The basic federal income security program for seniors who are age 65 and older.

Previous employment during which you did or didn't belong to a pension plan. You may be able to buy back this period of service if you're not receiving a current or future pension from your former employer. Only some types of public service are eligible.

By buying back optional service you can increase your length of pensionable service thereby increasing your future benefits.

A "pension partner" means:

(i) a person who, at the relevant time, was married to a participant or former participant and had not been living separate and apart from him or her for 3 or more consecutive years, or

(ii) if there is no person to whom subclause (i) applies, a person who, as at and up to the relevant time, had lived with the participant or former participant in a conjugal relationship

(A) for a continuous period of at least 3 years, or

(B) of some permanence, if there is a child of the relationship by birth or adoption.

For the purposes of this definition, persons are living separate and apart

(a) if they are living apart and either of them has the intention to live separate and apart from the other, or

(b) if, before the relevant time,
(i) they had been living separate and apart for any period, and

(ii) that period was interrupted or terminated by reason only that either of them became incapable of continuing to live separate and apart or of forming or having the intention to continue to live separate and apart of that person's own volition, and the separation would probably have continued if that person had not become so incapable.

Your basic pay for the performance of your regular duties. Pensionable salary does not include earnings such as expense allowances or overtime payments; however, it does include acting pay if the employer treats it as pensionable salary under the employer's salary policy.

Your years of service during which you contribute to the pension plan, plus service recognized from a transfer or purchase of optional service. The maximum length of pensionable service you can accumulate in the Plan is 35 years.

A member, surviving pension partner, or beneficiary who is receiving a pension from the Plan.

A mathematical analysis of the financial condition of a pension plan. An actuary prepares a plan valuation at least once every three years. Following a valuation, the Board may recommend to the Minister of Finance that the contribution rates are adjusted so the rates meet the funding requirements of the Plan.

Portable Document Format (PDF) is a format used to deliver documents over the Internet. Adobe® Reader® (TM) is the standard software used to access PDF documents and can be downloaded, for free, from the Adobe® website.

Retirement after age 65 or after the age of entitlement to an unreduced pension. See also "early retirement" and "normal retirement".

The pension partner may waive their right to a lifetime pension by completing the Pension Partner Waiver of Pre-Pension Commencement of Death Benefit. This allows the pension to be paid to the beneficiary or beneficiaries on file with APS instead of the pension partner. This waiver can be completed by the pension partner any time before pension commencement but it may only be rescinded by the pension partner prior to the member's death.

If you do not have a pension partner, your primary beneficiary is entitled to your benefits if you die before retirement or before the expiry of a guaranteed term. See also "beneficiary" and "alternate beneficiary".

An agreement negotiated with another pension plan that allows members to transfer their pension entitlements when they move between plans. By transferring pension entitlements, you may increase your pension income.

An agreement negotiated with another pension plan that allows members to transfer their pension when they move between plans.

You can retire with a reduced pension at age 55 if you have at least five years of pensionable service. However, if you retire between the ages of 55 and 60, and your age plus years of service total less than 80, your pension will be reduced by three per cent for each year you retire early. (This reduction only applies to pension benefits for service after 1991.) The reduction is based on your age short of 60, or your age plus years of service short of 80, whichever would be reached first.

A type of tax-deferred investment that is set up to hold and invest your savings until you retire. Most can be withdrawn at any time, but you will be taxed on the amount withdrawn.

(Pensionable Salary) - Your basic pay for the performance of your regular duties. This includes pay for shift work, weekends and acting pay if the employer treats it as pensionable salary under the employer's salary policy and if it is paid on a uniform and consistent basis. Pensionable salary does not include earnings such as expense allowances or overtime payments.

The salary cap is the maximum salary upon which a defined benefit can be based and is set under the federal Income Tax Act.

See "pensionable service".

The year specified by the employer as the employer's annual payroll pay period cycle. This is the year for which members' pensionable service is reported by the employer and which will have specific From and To dates. The service year may not coincide exactly with the calendar year.

A nine-digit number used in the administration of various Canadian government programs. You require a SIN to work in Canada or to receive government benefits.

See "pension partner".

A surplus exists when the actuarial valuation determines the Plan's accrued benefit payments (liabilities) are less than the net assets available for the payment of those benefits.

When a member has a Combined Pensionable Service (CPS) relationship, the term "suspended" describes the member's status in the plan(s) to which the member is no longer contributing. For example, a MEPP member who moved from PSPP (forming a CPS relationship) is deemed "suspended" in PSPP, since they are no longer actively contributing to PSPP.

When a member leaves the Plan, taking his or her benefits as a lump sum payment.

A pension that will not be reduced for early retirement. See "reduced pension" and "early retirement".

Being vested means you are eligible to receive a pension at retirement. If you leave MEPP, you are entitled to the value of the pension you have earned, half of which must come from the employer's share of contributions, for service after 1991. For service before 1992 you will receive your contributions plus interest. You become vested when you have five years of combined pensionable service or if you turn age 65 while a member of the Plan.

The date on which the employer issues a member's pay for a particular pay period. Pension contributions for a particular pay period must be remitted to Alberta Pensions Services Corporation (APS) within 15 days of the withholding date.

The year in which the employer withheld contributions that were remitted to the pension plan.