At the end of March 2020, Newfoundland and Labrador had $4.89 billion in unfunded pension liabilities, including unfunded liability and promissory notes, according to a report released last week by the premier’s economic recovery team. Added to the province’s $3.29 billion in unfunded liability related to employee benefits, this results in financial exposure of $8.18 […]
Like many plans, the Newfoundland and Labrador Teachers’ Pension Plan came out of 2008 in rough shape. So, the government started to discuss what should be done to deal with the plan’s unfunded liability. In 2015, the agreement was made to turn the plan into a jointly sponsored pension plan, and the Teachers’ Pension Plan […]