Actuarially Determined Contribution (ADC) rate - A target or recommended contribution to a defined benefit pension plan for the reporting period, determined in conformity with Actuarial Standards of Practice based on the most recent measurement available when the contribution for the reporting period was adopted.
As outlined by Actuarial Standards Board (ASB) Actuarial Standard of Practice No. 4, Document No. 173, guidance provided to actuaries is provided either on a basis of periodic costs (i.e., a fixed contribution rate) or actuarially determined contributions (ADC). As IFRRF is funded based on a fixed contribution rate, no actuarially determined contribution rate was calculated or used. As such, no ADC has been presented above.