Closed Plan

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Public Service Management (Closed Membership) Pension Plan

Attention: Do you have an account with the plan's administrator, Alberta Pensions Services Corporation (APS), as a result of leaving employment under the Plan prior to August 1, 1992? If so, APS may no longer have your correct address. To ensure that you receive your Annual Member Statement each year, please contact APS to confirm your correct address.

The Management Employees Pension Plan (MEPP) was originally established in 1972 as the Public Service Management Pension Plan for management employees of the Alberta government and approved agencies, boards and commissions. In 1993, new legislation was passed that divided the Plan into two separate plans. Active plan members as of August 1, 1992 became members of MEPP.

Members who left the original Plan or retired before August 1, 1992, and those who had 35 years of pensionable service by August 1, 1992, became members of the Public Service Management (Closed Membership) Pension Plan. Funding for the Closed Plan is the responsibility of the Government of Alberta as all MEPP pensions on service prior to pension reform in 1992 were guaranteed by the Government.

Like MEPP, the Closed Plan provides a pension of 2% for each year of pensionable service based on the average salary of the highest five consecutive years. Pensions payable by the Plan are increased each year by an amount equal to at least 60% of the increase in the Alberta Consumer Price Index.

The MEPP Board may advise the Minister of Finance on the Closed Plan, as they advise the Minister regarding MEPP and the Supplementary Retirement Plan (SRP) for Public Service Managers.

Members of the Closed Plan who subsequently return to employment under MEPP maintain separate accounts under each plan. This means members will receive separate pension benefits from each plan based only on pensionable service in that plan. However, Closed Plan service and MEPP service will be combined in each plan to determine vesting, highest average salary and any early retirement reduction.

Members of the Closed Plan who have left their funds with the Plan should contact APS to ensure the administrator has your current address. This is needed for APS to send you the Annual Member Statements that detail your service, contributions and benefit entitlement under the Closed Plan.

Financial Statements for the Public Service Management (Closed Membership) Pension Plan’s December 31, 2007 year end can be found as part of the 2007-2008 Alberta Finance Annual Report.