2006 - Central Bank of Trinidad and Tobago

ACTUARIAL INVESTIGATIONSSUMMARIES OF THE RESULTS AND RECOMMENDATIONSOF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued)NAME OF PLANACTUARYVALUATIONDATERESULTS ANDRECOMMENDATIONSCoates Brothers(Caribbean) LimitedStaff Pension FundPlanDaine Baker89.08710.9100.003October 31,200489.76310.1920.04590.9089.0580.034The valuation revealed a past service91.868 93.004surplus of $1.9 million with a fundinglevel of 154%. 8.100 6.963It was recommended that:-(a) Consideration 0.032be given 0.033 to improvingbenefits payable by the Plan.The next valuation should be carried outas at October 31, 2007.RBTT Pension FundPlanKR ConsultingMarch 31,2004The valuation revealed a past servicesurplus of 11.1 million with a fundinglevel of 112%.It was recommended that:-(a) The surplus be carried forward as acontingency reserve to nextvaluation.The next actuarial valuation should beperformed on March 31, 2007.JTA Supermarkets Ltd.Pension Fund PlanKR ConsultingJanuary 1,2004The valuation revealed a past servicesurplus of $2.7 million with afunding level of 153%.It was recommended that:-(a) The Company should continue tocontribute at the rate of 4% of salariesuntil the next valuation.(b) Discussions should be held with theTrustees and the Actuary as to the use ofthe remaining surplus.The next valuation should be performedon or before January 1, 2007.YTEPP LimitedPension PlanEckler Partners LimitedJuly 1, 2004The valuation revealed a past servicesurplus of $100,566 with a fundinglevel of 106%.It was recommended that:-(a) The Company should contribute atthe rate of 10.59 % of the coveredPensionable Payroll.The next valuation be conducted on orbefore July 1, 2007.REPORT ON INSURANCE AND PENSIONS 69