Pension

The questions below are based on the following plan document for the University of Saskatchewan:
https://www.usask.ca/fsd/resources/documents/pension/Non_Ac_Pension.pdf
Read through the plan document. Prepare a short answer (one line to one paragraph maximum should be sufficient to answer each question) for each of the following questions. Answer in your own words, where possible. Support your answer with the relevant page and section number from the plan document, where applicable:
1.What type of pension plan is this (DB, DC, hybrid, etc.)? How do you know? (5 marks)
2.Who contributes to the plan? How are each party’s contributions determined? (10 marks)
3.When is the normal retirement date? Explain how early retirement and postponed retirement are defined for this plan. (5 marks)
4.Locate the pension benefit formula. Explain, in general and in your own words, how increases or decreases in annual earnings would impact the retirement benefit earned by a member. (5 marks)
5.According to the plan, what are the tax implications of a plan member’s contributions, the plan sponsor’s contributions, and the interest earned on contributions? (5 marks)