The TTC Pension Plan (TTCPP) is a defined benefit pension plan established in 1940 to provide retirement benefits for employees of the Toronto Transit Commission (TTC) and the Amalgamated Transit Union (ATU) Local 113[1][3]. Here are some key features and recent developments of the TTCPP: ## Key Features of TTCPP - Defined Benefit Structure: TTCPP provides a secure lifetime pension based on a formula that considers the member's best four years of pensionable earnings and years of service[3][4]. - Contributions: Members contribute a percentage of their earnings, which are matched by their employers. Contributions are tax-deductible for members[1][4]. - Retirement Eligibility: Normal retirement is possible at age 60, after 30 years of service, or when age plus service equals at least 80[1]. - Cost-of-Living Adjustments (COLAs): COLAs are conditional and granted by the Board based on affordability[1]. ## Recent Developments - Independence: TTCPP became a standalone entity in January 2019, after deciding not to merge with OMERS. This move allowed it to maintain its governance and financial health[2]. - Investment Strategy: TTCPP has been evolving its investment portfolio, focusing on internal expertise, hedge funds, and private assets. It aims to reduce reliance on consultants and improve fee structures[2]. - Growth and Projections: The fund is projected to reach $10 billion in assets under management by 2030, with a focus on maintaining a healthy funded status[2].