Document ID: chunk:federal_register_of_legislation:F2015L00809:body:0:p6
Version: federal_register_of_legislation:F2015L00809
Segment Type: other
Provision Reference: 
Character Range: 14712–18003

a more recent estimate. Report the date of the most up to date information reported in item 1.1 to item 1.4 inclusive, in item 1.5.

                                                                 For item 1.1 to item 1.4 inclusive, report defined benefit interests of defined benefit members in column 1 and defined contribution interests of both defined benefit members and members who are not defined benefit members in column 2.

                                                                 Column 3 is a derived item. For item 1.1 to item 1.4 inclusive, report total interests in column 3 as the sum of the amounts reported in column 1 and column 2.

                                                                 Item 1.1 column 4 is a derived item. Report the accrued benefit index in item 1.1 column 4 as net assets available for members' benefits (net of ORFR reserves) for defined benefit interests reported in item 1.4 column 1 divided by the defined benefit interests in accrued benefits reported in item 1.1 column 1.

                                                                 Item 1.2 column 4 is a derived item. Report the vested benefit index in item 1.2 column 4 as net assets available for members' benefits (net of ORFR reserves) for defined benefit interests reported in item 1.4 column 1 divided by the defined benefit interests in vested benefits reported in item 1.2 column 1.

                                                                 Item 1.3 column 4 is a derived item. Report the minimum benefit index in item 1.3 column 4 as net assets available for members' benefits (net of ORFR reserves) for defined benefit interests reported in item 1.4 column 1 divided by the defined benefit interests in minimum benefits reported in item 1.3 column 1.

                                                                 Example: if defined benefit interests in vested benefits are $10,000,000 and the net assets available for member benefits (net of ORFR reserves) for defined benefit interests are $10,500,000 then the vested benefits index is to be reported as 105.0%.

Actuarial investigation                                          Represents an investigation undertaken by the RSE actuary. Reference: SIS Regulations, r. 9.27, r. 9.29; Prudential Standard SPS 160 Defined Benefit Matters.

Accrued benefits                                                 Represents the benefits to which members have an absolute or potential entitlement on account of the length of time as a member of the RSE. Includes: Any amount that would be payable out of those benefits to the member's spouse or former spouse under a payment split. Reference: SIS Regulations, r. 9.27.

Vested benefits                                                  Represents the benefit payable to a member of an RSE if the member voluntarily terminated service with their employer and/or withdrew membership from the RSE. Includes: allowances for any options the member could exercise where the option is consistent with the funding calculation. Reference: SIS Act, s. 83A.

Minimum benefits                                                 Represents a member's minimum benefit that is required to be paid, where minimum benefit has the meaning given in SIS Regulations, r. 5.04.

Net