Faculty and Staff

Academic Supplementary Retirement Plan

The Academic Supplementary Retirement Plan provides additional employer funded retirement income for eligible staff who are members of the Universities Academic Pension Plan (UAPP) and have annual UAPP pensionable earnings that exceed the maximum salary covered by the UAPP.

Eligibility

The Academic Supplementary Retirement Plan (ASRP) became effective on July 1, 2009. The plan is a negotiated component of total compensation for Academic staff appointed to continuing full and part-time positions in the Faculty, Librarian, Administrative Professional Officer, and Faculty Service Officer agreements.

To be a member of the ASRP, eligible staff must have pensionable earnings that exceed the annual UAPP maximum salary in one or more of the following plan years up to the maximum negotiated ASRP limit.

Year

UAPP Annual Pensionable Salary Maximum

ASRP Maximum

2017 $162,312.22 $213,395 
2016 $160,970 $205,895
2015 $157,024.50 $205,895
2014 $154,250 $205,895
2013 $150,164 $202,553
2012 $147,364 $199,265
2011 $142,101 $195,358
2010 $138,882 $191,998
2009 $136,112 $180,000

ASRP Benefits

Unlike the UAPP, which is a defined benefit plan, the ASRP is a defined contribution plan. Annual notional contributions are based on ASRP points. Your ASRP points are equal to your age plus years of continuous service (including any leaves of absence) in an eligible ASRP agreement as of December 31 of each year.

ASRP Points

Annual Contribution Rate

ASRP Maximum

Less than 55 points 8%
55 to less than 80 points 12%
80 points or more 16%

ASRP Investment Returns

ASRP average annual notional contributions are credited with interest based on the DEX Canadian 91 Day Treasury Bill Return. ASRP 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.

ASRP Investment Option

Plan members have a one-time option to change the basis for the investment return calculation on their accrued notional account balance from the TD Emerald Balanced Fund to the DEX Canadian 91 Day Treasury Bill return. This change can be made by submitting an Investment Change form to HRS. Change requests are effective first day of the month following receipt of form.