As experts in municipalities, the AMSC Retirement services team works closely with our strategic partners to offer retirement and savings programs designed specifically to meet the needs of members. Incorporating these initiatives as part of a total compensation package enables municipal employers to effectively compete with other sectors in attracting and retaining top leadership.
Municipalities can choose to provide employees with access to the Local Authorities Pension Plan (LAPP), a contributory defined benefit pension plan for local authorities in the province.
AUMA members who participate in LAPP may also offer the APEX Supplementary Pension Plan to provide municipal sector senior management, management and professional employees with an added benefit to the LAPP base pension. Additionally, MuniSERP, another AMSC service available to members offering LAPP to their employees, can be utilized by senior managers to receive retirement benefits in excess of those available through registered pension plans.
Alternatively, the Alberta Communities Pension Plan (ACPP), a defined contribution plan, is available to municipalities through AMSC Retirement Services. This plan was created for members not participating in LAPP but who wanted to offer their employees a retirement option. ACPP is also available for elected officials.
AMSC along with our strategic partner, Sun Life Financial, offers all AUMA members the opportunity to participate in a Group RRSP and TFSA. These mechanisms can serve as supplemental savings to existing programs or as a primary savings program for organizations that do not currently have a formal retirement savings program. Recently, AMSC and Sun Life Financial worked together to review the fee structure of our programs and we are proud to have been able to reduce the fees in a challenging economic landscape.
If you have any questions or require additional information on our Retirement Services, please call 310-AUMA or send us an email.