The Plan Should Be 100% Employee Funded
The Saskatchewan government is trying to light a fire under efforts to fix the City of Regina’s pension deficit problem. On Friday, provincial regulators sent a letter to pension officials saying they’re considering cancelling the registration of the Regina Civic Employees Superannuation and Benefit Plan. The province’s deputy superintendent of pensions says the plan hasn’t been meeting its minimum contribution for years. The official says the government has waited for the plan to come up with a new funding plan, but that hasn’t happened yet. If the plan is deregistered, it would be terminated.