Teachers' Pension Plan

The pension plan for teachers in the school jurisdictions and charter schools covers approximately

• 37,412 active teachers,
• 19,820 pensioners
• 10,852 inactive former teachers

with benefit entitlements under the plan and 84 employers. As of August 31, 2007, the value of accrued plan benefits exceeds actuarial assets by $7.334 billion.

The plan has a $6.592 billion unfunded liability related to benefits earned for service before September 1992 that is being funded by additional contributions. Benefits for service after August 1992 are being fully funded by active members and the Alberta Government on a current basis. The plan also has a deficiency of $742 million related to benefits earned after August 1992. This deficiency is being funded by additional contributions of active plan members and Alberta Government over the period ending in 2021.