--the key thing is that it's one thing if a lion falls in the jungle; it's another thing if 10 elephants fall in the jungle. So when GM and the automakers faced their crisis in the summer of 2009, Ontario had to deal with the fact that there wasn't enough money in the pension benefits guarantee fund to cover those promises. That's because the insurance premium that plan sponsors pay is far too low, and pension experts have been complaining about that for a long time.
What we're proposing is that the steady state rate of $2.50 per plan member to a maximum of $12 million a year per pension plan is enough to cover most insolvencies. Only 4% of employers are declaring bankruptcy every year. That would cover most. But when and if a GM catastrophe should happen--a Massey Ferguson in the past, or Algoma Steel in Sault Ste. Marie--we have to have contingencies to bear it. I think that's why you're seeing a consensus on this.