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Upcoming Changes
The following plan rule amendments have been approved by the LAPP Sponsor Board. For more information on the plan rule amendment process, please visit the Plan Rule Amendment Process page.
| Plan Rule Amendment | Details | Effective Date | Date of Posting |
|---|---|---|---|
| Maximum Employee Cost | There is no longer a 50% funding cap on member contributions. A member can now fund up to 100% of their benefit. This change is a result of government passing Bill 22. | January 1, 2022 | December 15, 2020 |
| Contribution Interest Rate |
The interest rate on contributions is changing, and will be as follows: |
January 1, 2022 | December 15, 2020 |
| Immediate Vesting | All members will be immediately vested in the Plan. A vested member is eligible for a lifetime LAPP pension at retirement. | January 1, 2022 or the first payroll period encompassing that date. | December 15, 2020 |
| Voiding of Actuarial Reserve Purchases |
The reversal of any actuarial reserve purchases if a member elects a CV transfer will be eliminated effective January 1, 2022, aligning LAPP with the Alberta Employment Pension Plans Act standards. |
January 1, 2022 | November 5, 2021 |
| Amending or Eliminating a Qualifying Disability Plan filed with LAPP | Subject to the requirements and limitations under Section 2.99(a) of the LAPP plan text and any applicable legislation, the sponsor (employer) of a Qualifying Disability Plan may amend or terminate the terms of the Qualifying Disability Plan that has been filed with LAPP. | January 1, 2022 | November 5, 2021 |
Past Changes
The following is a list of past plan rule amendments that were approved by the LAPP Sponsor Board.
| Plan Rule Amendment | Details | Effective Date |
|---|---|---|
| Removal of Coordination | Coordination will no longer be available to members who start their pension on or after January 1, 2021. | January 1, 2021 |
| Treatment of Suspensions as Approved Leaves of Absence |
LAPP employers will be permitted to designate the unsalaried portion of periods of suspension as approved leaves of absence, subject to a maximum suspension period of three months. |
January 1, 2020 |