The purpose of this educational note is to provide guidance to actuaries for determining commuted values for pension plans that are covered under subsection 3570. A separate educational note has been prepared for the balance of Section 3500.
An educational note on the same subject was originally issued on August 13, 2020. This educational note is an update to the prior educational note to reflect the changes to Part 3000 effective December 1, 2022. It ensures that references within the note are aligned with the revised Section 3500 of the Practice Specific Standards for Pension Plans (subsection 3570).