All pension plan administrators are sent a pension assessment invoice to each February.  Plan administrators are required to pay the assessment within 30 days of the invoice date.

The pension assessment period runs from April 1 to March 31 and applies to plans with fiscal year ends falling within this period. 

How the Pension Assessment is Calculated

The pension assessment has two components: a preliminary calculation, similar to the prior AIR fee structure, and an adjustment.

The Preliminary Calculation

The preliminary calculation is based on pension plan membership as provided in the most recent AIR on file that falls within the assessment period. The formula is $6.15 per member and $4.25 per former member and other plan beneficiaries, with a minimum of $250 and a maximum of $75,000 per plan.

The Adjustment

The adjustment reflects the difference between the total pension sector costs for the fiscal year, less the aggregate of all fees, and the amount that would be collected from all pension plans under the preliminary calculation.

• This difference is allocated among all pension plans on a pro rata basis using each pension plan’s preliminary amount and the total amount for all pension plans determined under the preliminary calculation.

• The adjustment may be positive or negative. While minimum and maximum limits apply to the preliminary calculation, the total pension assessment (preliminary calculation plus adjustment) may be less than the minimum or more than the maximum limits of the preliminary calculation.

The Pension Assessment

The pension assessment for a period will be the sum of the preliminary calculation and the adjustment for each pension plan.

The 2008 - 2009 Pension Sector Assessment

The 2008-2009 Pension Assessment was mailed to all Plan Administrators in February 2009.