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Pension Funds

CAAT Pension Plan’s funding ratio reaches 120% in 2019

Colleges of Applied Arts and Technology Pension Plan, Toronto, said Friday it was 120% funded on a going-concern basis as of Jan. 1, up from 118% a year earlier.

The pension plan attributed the improved funded status to its focus on reserve building through stability contributions and long-term investment results, spokesman John Cappelletti said.

The plan had C$10.8 billion ($8.6 billion) in assets as of Jan. 1, 2018.

As of Jan. 1, the plan had a funding surplus of C$2.6 billion, compared to a C$2.3 billion surplus a year earlier.

CAAT's discount rate for 2019 is 5.5%, down from 5.6% the previous year.

The CAAT plan's 2018 investment results and assets as of Jan. 1 will be released with its annual report in late April.