Thank you, Mr. Chair. The plan, since the late 1990s, developed a surplus position, largely as a result of returns on investments in the capital markets during the late 1990s, early 2000s, and when that surplus got to such a size, the board of management of the time made the decision to stop any employer or public contributions to the plan.

For over 20 years now, the plan has basically been living off that surplus and drawing it down in a planned fashion. It was always known that the surplus would be drawn down. The financial crisis of 2008 expedited the drawdown of that surplus probably by two or three years, but for the last 20 or 25 years, the plan has essentially been living off its surplus and drawing that down. Mr. Chair, thank you.