Financial update

Financial statements

The financial statements for the fund of the CAAT Pension Plan for the year ended December 31, 2009 were audited by Deloitte and Touche LLP. They were approved by the Board of Trustees in April 2010, and have been filed with the Financial Services Commission of Ontario. Copies have been sent to the Vice President/Director of Finance at each college.

Financial Highlights

Net assets available for benefits

Net assets rose over $600 million in 2009, a reversal from a net decline of $1.2 billion in 2008.

Benefits

Benefit payments continued to increase modestly in 2009. The Plan paid inflation protection of 2.55% on all pensions.

Contributions

Contributions rose by $34 million in 2009 due to increases in salaries, active membership and contribution rates.

Membership

The Plan is growing with a healthy mix of active and retired members.