Executive Defined Contribution Supplementary Retirement Plan
The Executive Defined Contribution Supplementary Retirement Plan (EDCSRP) provides additional retirement income for board-designated members of the Universities Academic Pension Plan (UAPP). See the EDCSRP plan text for full details.
To receive EDCSRP benefits, you must have pensionable earnings that exceed the UAPP maximum pensionable salary in a calendar year, up to the specified EDCSRP salary cap.
Annual Pensionable Salary Maximum
| Year | UAPP | EDCSRP |
|---|---|---|
| 2023 | $195,313 | $220,668 |
| 2022 | $190,470 | $220,668 |
| 2021 | $180,758 | $220,668 |
| 2020 | $172,221 | $220,668 |
Benefits
Unlike the UAPP, which is a defined benefit plan, the EDCSRP is a defined contribution plan. Annual notional contributions made by the university are based on EDCSRP points. Your EDCSRP points are equal to your age plus years of continuous service (including any leaves of absence) in an eligible EDCSRP position as of December 31 of each year.
| EDCSRP Points | Annual Contribution Rate |
|---|---|
| Less than 55 points | 8% |
| 55 to less than 80 points | 12% |
| 80 points or more | 16% |
Notional Accounts
Notional accounts exist only on paper and don't contain actual funds. Although the EDCSRP is an unfunded plan, the university is required to maintain reserves for plan liabilities (earmarked assets for the liabilities growing in the notional accounts). When you leave the university, the balance in your EDCSRP account is paid out of the general assets of the University of Alberta. You are not allowed to make contributions to the notional account.
Investment Returns
Average annual notional contributions are credited with interest based on the DEX Canadian 91 Day Treasury Bill return. EDCSRP accrued notional account balances (account balances carried forward year to year) are then credited with the annual return (positive or negative) of the TD Emerald Balanced Fund .
Investment Option
You have an irrevocable, one-time option to change the basis for the investment return calculation on your accrued notional account balance from the TD Emerald Balanced Fund to the DEX Canadian 91 Day Treasury Bill return. To make this change, submit an Investment Change form to the Staff Service Centre. Change requests are effective on the first day of the month following receipt of form.
Your Account
To request a copy of your annual statement, please contact the Staff Service Centre.