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Plan Rule Amendment Process

Below you will find an outline of the plan rule amendment process. A list of amendments approved by the LAPP Sponsor Board can be found on the Plan Rule Amendments page.

At the first Sponsor Board meeting of each year, the Board will consider a list of potential amendments requested by stakeholders. Stakeholders can submit requests for changes to plan rules using the Stakeholder Request for Plan Amendments form. The Board then decides which amendment requests will be considered for a Board decision.

The annual process is:

December 1 of each year: All stakeholder requests for Plan amendments received in writing by this date will be eligible for Board consideration in the following year's review cycle. The full list of requests will be posted under the above 'Proposed Amendments' tab.
Following First Quarter Sponsor Board Meeting: The Board will be presented with all requests for plan rule amendments and will decide which requests to consider in the year. The requests to come back to the Board for a final decision in the third quarter meeting where possible (barring further investigation or consideration) will be posted under the 'Under Consideration' tab.
Following Third Quarter Sponsor Board meeting: The Board will make a decision on each proposed amendment, and the final decisions will be posted under the 'Board Decision' tab.

All requests for plan rule amendments made by December 1 of the previous year will be listed here, to be presented to the Sponsor Board at the Board meeting in the first quarter of the next year.

Proposed Plan Rule Amendment	Details	Notes
To implement a temporary increase in Cost-of-Living Adjustments (COLA) during periods of high inflation.	LAPP Corporation received an application from Mr. B Edwards regarding LAPP’s COLA. The proposal is that COLA would be 60% of the increase in the Alberta CPI or, in periods of high inflation, Alberta CPI minus 1.5%. As an example, if the increase in the Alberta CPI is 8%, the existing 60% COLA results in an increase of 4.8%. Under the proposal, adjustment would be 6.5% (8% minus 1.5%).	Will be presented to the Sponsor Board at the next meeting for consideration.

This list includes those plan rule amendments the Board has agreed to consider in the year. These changes will be considered by the Board at its third quarter meeting.

Proposed Plan Rule Amendment	Details	Notes
Alberta Fire Fighters Association (AFFA) enhanced plan benefit options.	LAPP Corporation received an application from the Alberta Fire Fighters Association (AFFA) to request that LAPP provide a benefit option that would allow interested fire fighters and employers to participate at the maximum level of pension coverage currently available to fire fighters in Canada.	The LAPP Sponsor Board considered the initial application at its February 12, 2021, meeting and has decided to consider this request further as part of the 2021 process for plan rule amendments. The results will be posted under the Board Decision tab after the September Sponsor Board meeting.

This list includes the plan rule amendments the Board considered at its third quarter meeting.

Proposed Plan Rule Amendment	Details	Notes
Joint Lifetime Reduced by 1/3 on Member's Death Only and Guaranteed 5 Years	LAPP Corporation received an application from member Mr. B. Tanner to request that the Joint Lifetime Reduced by One-Third Guaranteed at Least Five Years option be reduced on the member’s death only for future retirements.	The LAPP Sponsor Board approved the plan amendment change at its June 6, 2023, meeting. This will become the default Joint Lifetime option for retirements starting on or after January 1, 2024, though members with a pension partner can still choose from the two previously existing Joint Lifetime pension options.
Alberta Fire Fighters Association (AFFA) enhanced plan benefit options.	LAPP Corporation received an application from the Alberta Fire Fighters Association (AFFA) to request that LAPP provide a benefit option that would allow interested fire fighters and employers to participate at the maximum level of pension coverage currently available to fire fighters in Canada.	The LAPP Sponsor Board considered the application at its September 2021 meeting. The Board decided to temporarily postpone making a final decision so that the application can be considered as part of a strategic growth model.