Finance committee  I agree with that. If there was a defined cap of a dollar amount per member, at least the lender would know and would be able to assess that risk. The challenge they have now is that they're trying to assess both the assets of the plan and the liabilities of the plan, which are

Finance committee  I would reiterate that we're big believers in the value of a defined benefit plan for plan members. We see the value of that, which is why we're trying to find a solution and maybe—

Finance committee  Yes.

Finance committee  Our belief is that this would accelerate that to significantly below the 9%. This, then, leaves the active group that's accruing that benefit with less of a benefit. That's the concern we have.

Finance committee  Typically, longer would be better for them to react and to look at their loans and their collective agreements, so five years would seem reasonable to us.

Finance committee  I'll go first. I don't know what, specifically, the numbers will be. I can tell you that when I interact with clients, they're concerned. Now, DB in the private sector has gone from 20% down to 9% over the last 20 years. Businesses are concerned about the availability of credit

Finance committee  Our concern is the fact that.... We're currently in a situation where we're a big believer in the defined benefit plan because of the value it provides to members of society. We're at 9% in the private sector, so we're trying to balance the various interests to stop that 9% going

Finance committee  I concur. I think many of them will use this as a catalyst to wind up their plans.

Finance committee  Do you mean having an unfunded position at the point when the company goes bankrupt?

Finance committee  Typically what happens is that there's a stress event in the economy and the investment portfolio backing the liabilities has a mixture of fixed income and equities. The equities would lose their value by 15-20%, so the value of the assets would go down. In addition, typically c

Finance committee  Thank you, Ric. Good afternoon, everybody. There is no other organization in Canada that has done more work promoting retirement security for plan members than ACPM, while at the same time creating an environment where plan sponsors continue to offer pension plans. ACPM clear