Masi, Mr. Chair. Mr. Chair, this is an area that we have been asking ourselves, as well, throughout Canada and even around the world. As far as we know, there are no other MLA plans in Canada in this position, and I can't think of any other, whether it be public or private sectors, across Canada that are in a similar situation as we are. We are quite unique over the last 20 years, and we're here today. Masi.
Debates of March 7th, 2018
This is page numbers 3681 – 3720 of the Hansard for the 18th Assembly, 3rd Session. The original version can be accessed on the Legislative Assembly's website or by contacting the Legislative Assembly Library. The word of the day was housing.
Topics
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
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Consideration in Committee of the Whole of Bills and Other Matters
Frederick Blake Jr. Mackenzie Delta
Thank you, Mr. Chair. Mr. Chair, you may not know the answer to this, but I assume that all of the other plans administered by the government, including the one for the public service, the judiciary, teachers, NEBs, and so on, do they all include employer contributions like this? Thank you, Mr. Chair.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
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Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Frederick Blake Jr. Mackenzie Delta
Thank you, Mr. Chair. Will this return to employer or public contributions to the pension plans in any way impact the pension benefits that MLAs, whether past, present, or future, are entitled to? Thank you, Mr. Chair.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
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Mercer
Thank you, Mr. Chair. No, the return to employer contributions does not impact the benefits that either current, past, or future MLAs are entitled to upon retirement. Those benefits are laid out in legislation, and that can only be changed by way of legislation. This contribution is largely focused on and exclusively focused on ensuring the full funding of the pension plans themselves, but they do not impact the benefits provided to the Members. Thank you, Mr. Chair.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Frederick Blake Jr. Mackenzie Delta
Thank you, Mr. Chair. This is my final question. It is kind of a two-part question. What would happen if we didn't approve this contribution now? Would the plan collapse? Thank you, Mr. Chair.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Mercer
Thank you, Mr. Chair. No, the plan is not in any financial danger whatsoever. There are adequate assets now to continue to meet the plan's liabilities, but the longer that a return to public contributions is delayed, the greater will be the contribution required in the future to make sure it is fully funded.
The fact that the surplus has been drawn down basically brings these pension plans back to a normal state of affairs that virtually all other pension plans are in. The plan is healthy and will continue to be so as long as it is adequately funded. Thank you, Mr. Chair.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
The Chair R.J. Simpson
Thank you. Anything further? Nothing further from Mr. Blake. Legislative Assembly, expenditures on behalf of Members, operations expenditure summary, $8,889,000. Does committee agree?
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Some Hon. Members
Agreed.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
The Chair R.J. Simpson
Thank you, committee. Next activity, Office of the Chief Electoral Officer. It begins on page 10. Legislative Assembly, Office of the Chief Electoral Officer, operations expenditure summary, $878,000. Does committee agree?
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Some Hon. Members
Agreed.
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Kevin O'Reilly Frame Lake
Thanks, Mr. Chair. It is found on page 15. I see that there is a $50,000 contribution to the Capital Area Development Fund. I see that there are a number of other partners involved, including the City of Yellowknife, RCMP, Department of National Defence, and so on. Are the other partners contributing towards the fund, and if so, what is the total of the fund? Thanks, Mr. Chair.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
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Consideration in Committee of the Whole of Bills and Other Matters
Mercer
Thank you, Mr. Chair. When the revised capital area plan was developed in partnership with the City of Yellowknife and all of the remaining partners, the plan at the time was that all of these partners would make a contribution to the plan and to the Capital Area Fund, and it is my understanding that all partners will be doing a similar contribution. Thank you, Mr. Chair.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
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Kevin O'Reilly Frame Lake
Thank you, Mr. Chair. Thanks for that information. Over what period of time does the new plan cover for these expenditures? Is it over the next three or four or five years? Thanks, Mr. Chair.
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Consideration in Committee of the Whole of Bills and Other Matters
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Mercer
Thank you, Mr. Chair. The plan calls for a steady state funding for the Capital Area Fund, so the thinking is that this $50,000 contribution will be an annual contribution. These contributions will likely build up within the Capital Area Fund until there are adequate resources to undertake some fairly significant projects. There is no time referenced in the capital area plan, but the thinking, subject to the appropriation of the legislature every year, was that this would be an annual contribution by all of the parties. Thank you, Mr. Chair.