How is the IPP Members Past Service Pension Adjustment (PSPA) Determined?
The maximum PSPA for the period January 1, 1991 to December 31, 2009 is calculated as follows: YEAR (1) MAXIMUM T4 EARNINGS ($) (2) DOLLAR OFFSET ($) (3) MAXIMUM PSPA ($) 1991 69,444 1,000 11,500 1992 69,444 1,000 11,500 1993 75,000 1,000 12,500 1994 80,556 1,000 13,500 1995 124,722 1,000 21,450 1996 124,722 1,000 21,450 1997 124,722 600 21,850 1998 124,722 600 21,850 1999 124,722 600 21,850 2000 124,722 600 21,850 2001 124,722 600 21,850 2002 124,722 600 21,850 2003 124,722 600 21,850 2004 124,722 600 21,850 2005 124,722 600 21,850 2006 124,722 600 21,850 2007 124,722 600 21,850 2008 124,722 600 21,850 2009 124,722 600 21,850 (3) = (1) x 2.0% x 9 – (2) __________ 375,950 The maximum PSPA amounts above are for 2010 only. Our IPP On-Line Quoting System automatically calculates the member’s PSPA. The PSPA amounts are not to be used for PA reporting. See our IPP Pension Adjustment Calculator for PA reporting purposes.
