Thank you. Mr. Mercer.
Thank you, Mr. Chair. The plan, since the late 1990s, developed a surplus position, largely as a result of returns on investments in the capital markets during the late 1990s, early 2000s, and when that surplus got to such a size, the board of management of the time made the decision to stop any employer or public contributions to the plan.
For over 20 years now, the plan has basically been living off that surplus and drawing it down in a planned fashion. It was always known that the surplus would be drawn down. The financial crisis of 2008 expedited the drawdown of that surplus probably by two or three years, but for the last 20 or 25 years, the plan has essentially been living off its surplus and drawing that down. Mr. Chair, thank you.
Thank you. Mr. Blake.
Thank you, Mr. Chair. Mr. Chair, I would like to ask: do you know of any other MLA pension plans or any defined benefit plan at all that has been able to live off its surplus like this for so long? Thank you, Mr. Chair.
Thank you. Mr. Speaker.
Masi, Mr. Chair. Mr. Chair, this is an area that we have been asking ourselves, as well, throughout Canada and even around the world. As far as we know, there are no other MLA plans in Canada in this position, and I can't think of any other, whether it be public or private sectors, across Canada that are in a similar situation as we are. We are quite unique over the last 20 years, and we're here today. Masi.
Thank you. Mr. Blake.
Thank you, Mr. Chair. Mr. Chair, you may not know the answer to this, but I assume that all of the other plans administered by the government, including the one for the public service, the judiciary, teachers, NEBs, and so on, do they all include employer contributions like this? Thank you, Mr. Chair.
Thank you. Mr. Speaker.
Mr. Chair, as far as we know, yes, they all contribute as we do. Masi.
Thank you. Mr. Blake.
Thank you, Mr. Chair. Will this return to employer or public contributions to the pension plans in any way impact the pension benefits that MLAs, whether past, present, or future, are entitled to? Thank you, Mr. Chair.
Thank you. Mr. Mercer.
Thank you, Mr. Chair. No, the return to employer contributions does not impact the benefits that either current, past, or future MLAs are entitled to upon retirement. Those benefits are laid out in legislation, and that can only be changed by way of legislation. This contribution is largely focused on and exclusively focused on ensuring the full funding of the pension plans themselves, but they do not impact the benefits provided to the Members. Thank you, Mr. Chair.
Thank you. Mr. Blake.
Thank you, Mr. Chair. This is my final question. It is kind of a twopart question. What would happen if we didn't approve this contribution now? Would the plan collapse? Thank you, Mr. Chair.
Thank you, Mr. Blake. Mr. Mercer.
Thank you, Mr. Chair. No, the plan is not in any financial danger whatsoever. There are adequate assets now to continue to meet the plan's liabilities, but the longer that a return to public contributions is delayed, the greater will be the contribution required in the future to make sure it is fully funded.
The fact that the surplus has been drawn down basically brings these pension plans back to a normal state of affairs that virtually all other pension plans are in. The plan is healthy and will continue to be so as long as it is adequately funded. Thank you, Mr. Chair.
Thank you. Anything further? Nothing further from Mr. Blake. Legislative Assembly, expenditures on behalf of Members, operations expenditure summary, $8,889,000. Does committee agree?
Agreed.
Thank you, committee. Next activity, Office of the Chief Electoral Officer. It begins on page 10. Legislative Assembly, Office of the Chief Electoral Officer, operations expenditure summary, $878,000. Does committee agree?
Agreed.
Thank you, committee. Next activity, Office of the Clerk. Mr. O'Reilly.
Thanks, Mr. Chair. It is found on page 15. I see that there is a $50,000 contribution to the Capital Area Development Fund. I see that there are a number of other partners involved, including the City of Yellowknife, RCMP, Department of National Defence, and so on. Are the other partners contributing towards the fund, and if so, what is the total of the fund? Thanks, Mr. Chair.
Thank you, Mr. O'Reilly. Mr. Mercer.
Thank you, Mr. Chair. When the revised capital area plan was developed in partnership with the City of Yellowknife and all of the remaining partners, the plan at the time was that all of these partners would make a contribution to the plan and to the Capital Area Fund, and it is my understanding that all partners will be doing a similar contribution. Thank you, Mr. Chair.
Thank you. Mr. O'Reilly.
Thank you, Mr. Chair. Thanks for that information. Over what period of time does the new plan cover for these expenditures? Is it over the next three or four or five years? Thanks, Mr. Chair.
Thank you. Mr. Mercer.
Thank you, Mr. Chair. The plan calls for a steady state funding for the Capital Area Fund, so the thinking is that this $50,000 contribution will be an annual contribution. These contributions will likely build up within the Capital Area Fund until there are adequate resources to undertake some fairly significant projects. There is no time referenced in the capital area plan, but the thinking, subject to the appropriation of the legislature every year, was that this would be an annual contribution by all of the parties. Thank you, Mr. Chair.
Thank you. Nothing further from Mr. O'Reilly. Legislative Assembly, Office of the Clerk, operations expenditure summary, activity total, $8,190,000. Does committee agree?
Agreed.
Thank you, committee. Next, we have Office of the Speaker, beginning on page 17. Comments or questions. Seeing none. Legislative Assembly, Office of the Speaker, operations expenditure summary, $500,000. Does committee agree?
Agreed.
Thank you, committee. Continuing on to the next activity, statutory offices. Comments or questions. Seeing none. Legislative Assembly, statutory offices, operations expenditure summary, $2,333,000. Does committee agree?
Agreed.
Thank you, committee. There is one information item on page 24, NWT Human Rights Commission. Comments or questions. Seeing none. Would committee please return to page 5. Legislative Assembly, Legislative Assembly total, $20,790,000. Does committee agree?
Agreed.
Thank you, committee. Does committee agree this concludes our consideration of the Legislative Assembly?
Agreed.
Thank you, committee. Mr. Speaker, do you have comments?
Thank you, Mr. Chair. I would just like to say thank you to the Members. I just want to highlight that this will be the last time Mr. Ouellette is here before Committee of the Whole. I would like to thank him for all the services over the years provided to our Legislative Assembly and our corporate services. I just wanted to say Masi for your contribution.
---Applause
Thank you, Mr. Speaker. Thank you, Mr. Ouellette. Thank you to the witnesses for appearing before us. Sergeant-at-Arms, you may escort the witnesses from the Chamber. What is the wish of committee? Mr. Beaulieu.
Thank you, Mr. Chairman. Mr. Chairman, I move that the Chair rise and report progress. Thank you, Mr. Chair.
Thank you, Mr. Beaulieu. There is a motion on the floor to report progress. The motion is in order and non-debatable. All those in favour? All those opposed? Motion is carried.
--- Carried
I will rise and report progress. Thank you, committee.
Mr. Speaker, your committee has been considering Tabled Document 63-18(3), Main Estimates 2018-2019, and would like to report progress. Mr. Speaker, I move that the report of the Committee of the Whole be concurred with.
Do we have a seconder? Member for Range Lake. The motion is in order. All those in favour? All those opposed?
---Carried
Mr. Speaker, the orders of the day for Thursday, March 8, 2018, at 1:30 p.m.:
Prayer
Ministers' Statements
Members' Statements
Returns to Oral Questions
Recognition of Visitors in the Gallery
Acknowledgements
Oral Questions
Written Questions
Returns to Written Questions
Replies to Commissioner's Opening Address
Petitions
Reports of Standing and Special Committees
Reports of Committees on the Review of Bills
Tabling of Documents
Notices of Motion
Notices of Motion for First Reading of Bills
Motions
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Motion 11-18(3), Appointment of Human Rights Adjudication Panel Member
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Motion 12-18(3), Appointment of Human Rights Commission Member
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Motion 13-18(3), Increasing Women’s Participation in the Legislative Assembly
First Reading of Bills
Second Reading of Bills
Consideration in Committee of the Whole of Bills and Other Matters
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Committee Report 4-18(3), Standing Committee on Social Development Report on Adult Residential Addictions Treatment Facilities Tour 2017
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Minister's Statement 1-18(3), North Slave Correctional Complex Inmate Concerns
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Minister's Statement 19-18(3), Aurora College Foundational Review Process
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Minister's Statement 32-18(3), Update on the Northwest Territories Disability Framework and Action Plan
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Tabled Document 63-18(3), Main Estimates 2018-2019
Report of Committee of the Whole
Third Reading of Bills
Orders of the Day
