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BOD Decision -2003/07/15-03 - Pensioner Retirement Benefit Reserve ("PRBR")

As a result of legislative changes by the Workers Compensation Amendment Act, 2002, creating a retirement benefit for permanently disabled workers, the Board of Directors has directed that the investment income earned each year for the Pensioner Retirement Benefit Fund be determined each year on the basis of:

(a) the normal accounting method used by the WCB for computing its rate of return on investments in the accident fund, minus 7% of that rate of return, or

(b) the average monthly 90-Day Federal T-Bill rate, whichever is greater.

The resolution was a policy decision of the Board of Directors, effective January 1, 2003.

It was previously published at [2003] 19:1 Workers Compensation Reporter 111.

Meeting Date: Jul 15, 2003 File type: PDF (29 KB) Asset type: Policy & Regulation Decision