Retirement Compensation Funding Inc

Get Your RcF News Here!!

Fri, 13 Mar 2009 14:39:13 -0400

It's important to us to keep in touch with our valued partners and clients. We do have our regular email updates, but sometimes emails get lost in the sea of other emails. So no more searching through your inbox to get the latest updates!! By bookmarking this web log (Blog), we will post all of our updates here. In addition, by subscribing to RcF's RSS feeds, you can get all RcF news and updates sent directly to you. RSS(Really Simple Syndication) feeds content to your internet homepage. For those who use Internet Explorer, RSS is built right into the program, so all you need to do is subscribe. For those with web portal sites like Yahoo, MSN, or Google, you can subscribe to the RSS feed through your own custom site. Bookmark this site or the RSS feed below to stay connected with RcF! http://rcf.ca/cgi-bin/ebb/blog2/index.php?action=rss

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2009 RRSPWrap™ & PENSIONPlus™ Advisor Guide

Fri, 13 Mar 2009 17:11:35 -0400

The new 2009 Advisor Guide has been posted: http://www.rcf.ca/rcfnet/resource_guide/guides/ (Login/Password Required) RSVP for the March 26th or April 30th Seminar at RcF Head Office: http://www.rcf.ca/aboutus/events/

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Response to Minister of Finance's National Consultations on Private Pensions - March 20, 2009, Royal York, Toronto, ON

Fri, 20 Mar 2009 15:04:34 -0400

RcF presented a summary of its submission to Minister of Finance's National Consultations on Private Pensions at the Royal York Hotel in Toronto. The summary can be download from here: http://www.rcf.ca/news/RCF_Announcement-March20,2009.pdf

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New Article: Corporate Taxes & Supplemental Pension Funding

Tue, 07 Apr 2009 15:14:47 -0400

A new article has been posted on RcFNet (http://www.rcf.ca/rcfnet/resource_guide/rcfnews/) and the RcF Library (http://www.rcf.ca/pension_concerns/rcflibrary/)

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New Article: SERP Funding & Key Employee Retention

Mon, 25 May 2009 14:42:37 -0400

A new article has been posted on RcFNet (http://www.rcf.ca/rcfnet/resource_guide/rcfnews/) and the RcF Library (http://www.rcf.ca/pension_concerns/rcflibrary/)

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December 31 Year End Reminder

Wed, 04 Nov 2009 11:27:55 -0500

Now is the time to sit down with your HNW Business Owner & Key Executive clients to start discussing with them to determine if an RCA is a good fit for them. December is an active month for RCAs because many corporations pick December as their corporate year end. As such, the RCA has to be funded (and underwriting approved for insured RCAs) if they intend to secure the corporate tax deduction ending 12/31/09. Go to www.rcf.ca to download a case study, brochure, and a request for illustration form. And, don't forget to check out the RCFLibrary (www.rcf.ca/pension_concerns/rcflibrary/) for more articles to help you out!

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RcF announces the termination of its Wholesale Division effective January 1, 2010

Thu, 12 Nov 2009 13:27:34 -0500

Toronto, November 12, 2009 - Retirement Compensation Funding Inc (RcF) announces the termination of its Wholesale Division effective January 1, 2010. RcF will continue providing RCA / SERP services to Private and Public Corporations through RcFDirect and RcF Authorized Distributors.

This change will affect agreements with its existing corporate partners/financial institutions, as well as its Independent Financial Advisors that have agreements with RcF. Advisors or Financial Institutions still interested in RcF for RCA services will be considered on a case by case basis under a new compensation arrangement. This change in compensation arrangement will eliminate RCA setup fees to clients making RcF's RCA package very attractive and cost effective for Plan Sponsor and Plan Members.

The change will allow RcF to focus on its core strength and return to its origins as a retail/direct RCA provider, but still giving Financial Advisors an opportunity who still want to work with RcF for their clients

All Inforce Support questions and procedures for existing Financial Advisors can be found at the new Plan Advisor Support site which will launch at the end of November. RcF will be able to address any other questions which might not be made available. However, this new site will be able to address most commonly ask questions to ensure proper client servicing of existing RCA Plan Members.

RcF developed the first funding product for RCAs in the late 1980s. From coast to coast, RcF is known for its expertise in the design and funding of supplemental pension plans utilizing the Retirement Compensation Arrangement (RCA) provision of the Income Tax Act to its customized Supplemental Executive/Employee Retirement Plans (SERPs).

RcF's highly regard RRSPWrap™/ MPPPWrap™ / IPPWrap™ RCA programs and its specialized funding concepts like PENSIONPlus™ and PENSIONPlus GIF™ underwritten by a wide range of insurers. RcF continues its long-standing arrangement with BMO Trust Company to provide third-party trust services for all its RCAs.

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Dinner Seminar @ The Old Mill (Toronto) - March 4th, 2010 - 6PM - 9pm

Fri, 05 Feb 2010 10:25:20 -0500

This special dinner seminar is by invitation only. Guests of RcF Inc and Clients of Financial Advisors associated with IDC Financial are invited to attend. The pension plans that will be discussed are supplemental corporate pension plans within the Income Tax Act that are designed to fund beyond what can be funded through RRSPs due to legislative funding caps and limits. This seminar will cover Retirement Compensation Arrangements (RCAs) and Individual Pension Plans (IPP) in a simple non-technical format. Plus, overview of the trustee package provided by BMO Trust Company.

The ideal candidate is a Business Owner/Shareholder of a corporation, or, a Key Employee that the Owner is looking to add "golden handcuffs" to attract/retain them. The business should be stable (ie: not start ups) where the company has consistent earnings in which the excess profits are usually either Bonused Out or left in the corporation (retained earnings). Please contact RcF (info@rcf.ca or 416.364.6444 x225) or your IDC Financial Business Development Executive to RSVP. Please indicate if you have any food allergies. Go to www.rrspwrap.ca to review the turn key RCA program in greater detail.

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New Head Office Address

Wed, 31 Mar 2010 08:03:44 -0400

RcF will be moving its office on Yonge & King to Yonge & Bloor effective
April 1, 2010. Please update your records with our new location.
2 Bloor St E, Suite 3500
Toronto, ON M4W1A8

We will be working from both locations until April 30th, but please send any
mail to the new location. Our regional offices in North York, ON and Saint
John, NB remain the same. Our main phone line and fax number remain the
same as well.

Please note that our individual extensions have changed. Please view the
direct numbers and extensions at our website

http://www.rcf.ca/aboutus/team/

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Dinner Seminar @ The Old Mill (Toronto) - June 17th, 2010 - 6PM - 9pm

Wed, 12 May 2010 19:55:51 -0400

This special dinner seminar is by invitation only. Guests of RcF Inc and Clients of Financial Advisors associated with IDC Financial are invited to attend. The pension plans that will be discussed are supplemental corporate pension plans within the Income Tax Act that are designed to fund beyond what can be funded through RRSPs due to legislative funding caps and limits. This seminar will cover Retirement Compensation Arrangements (RCAs) and Individual Pension Plans (IPP) in a simple non-technical format. Plus, overview of the trustee package provided by BMO Trust Company.

The ideal candidate is a Business Owner/Shareholder of a corporation, or, a Key Employee that the Owner is looking to add "golden handcuffs" to attract/retain them. The business should be stable (ie: not start ups) where the company has consistent earnings in which the excess profits are usually either Bonused Out or left in the corporation (retained earnings). Please contact RcF (info@rcf.ca or 416.364.6444) or your IDC Financial Business Development Executive to RSVP. Please indicate if you have any food allergies. Go to http://www.rrspwrap.ca to review the turn key RCA program in greater detail.

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Article: RCAs And Key Employee Retention

Thu, 13 May 2010 16:13:06 -0400

The Benefits & Pension Monitor has published an article on RCAs as a Employee Retention Strategy written by RcF's own Managing Partner. You can view the article online at http://www.bpmmagazine.com/monitor_online_exclusive/02_print/Ghorbanian_BPMApr10.pdf

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Advocis Forum Article

Thu, 03 Jun 2010 15:38:21 -0400

RcF's Founder, Roy W. Craik has been recognized for his achievements in the June 2010 issue of Advocis' Forum magazine. Learn about Roy's innovations in the insurance industry before he moved on to innovating the supplemental pension industry. For those that do not subscribe to Forum, an electronic copy can be viewed on the Advocis website: http://www.advocis.ca/forum/FMarchives10/FM-jun10/jun10-innovation.html ---- Corrections - The following was an letter sent to the Editor of Forum: Dear Craig While I appreciate being recognized by my peers for my contributions to the insurance industry over the past 40 years, I was not solely responsible for the creation of Refundable Premium Whole Life (RPWL) as the article seems to imply. That product evolved from ASPWL and, Jim Burton of PPI (with others) was very much part of that. During our interview, Marjo Johne and I covered a lot of years/material through the evolution of insurance products and tax changes starting with ASPWL, moving to Refundable Premium; the 1981 tax changes; emergence of COLI for SERPS; T100; the 1986 RCA rules and the development of the first tax-sheltered insurance product for RCAs (not mentioned in article). That, with what else she had been told, is a lot to digest. Her article on everyone is therefore most commendable. When you go back 40 years, people’s memories & remembrances of facts can sometimes change. I have been fortunate to have had the support and involvement of many bright people in the insurance industry and, particularly, the insurance companies to bring some of my ideas to fruition. It’s important that credit is given where due. Jim Burton was also the one who introduced leveraged RPWL. Although these are probably typos, in referring to Whole Life insurance per 1981 (UL did not enter Canada until after the 1981 tax changes), it was not the “higher interest rates” but the “higher premium rates”. Actual dividend (interest) rates for Whole Life where very high in that period and, if you could afford the higher premiums, provided excellent long term returns for policy holders until de-mutualization of the large companies that sold participating insurance. As to T100, although initial premiums were a “bit” higher (not “big”) than Term 5,10 rates, they were substantially lower after renewal dates. In closing, I want to thank both Advocis and Marjo for an excellent article. As Marjo points out, “there are many other innovators in this industry” and I am honored to be recognized as one. Kind regards Roy W. Craik, Chairman Retirement Compensation Funding Inc

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Advisor's Edge Report Article: 'Case by Case' (RCAs and Estate Planning)

Wed, 27 Oct 2010 13:20:53 -0400

RcF's Managing Partner, Pierre Ghorbanian, CFP has had article published in October's Advisor Edge Report (Rogers Publishing Limited) - Page 20. The article covers estate planning strategies using an RCA Trust including charitable giving stategies, business succession, and pre-nuptials. For those that do not subscribe to Advisor Edge Report, can electronic copy can be viewed on the Advisor.ca website at http://www.advisor.ca/news/industry-news/rca-case-studies-492

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T737 Reminder / T737 Rappel

Thu, 13 Jan 2011 13:44:58 -0500

**La version française suit l'anglais** T737 Reminder The Plan Member's corporation (Plan Sponsor) must file annually a T737-RCA and the information return, which includes a T737-RCA Summary, Return of Contributions Paid to a Custodian of a RCA, and the related T737-RCA slips, Statement of Contributions Paid to a Custodian of an RCA. The corporation must file this return by the last day of February following the calendar year in which contributions were made. Failure to file the T737 returns on time may result in significant late filing penalties. The custodian’s copy of T737 must be mailed (or faxed-416-359-0402 Att: Bob Mathew) to BMO Trust Company by the end of February, or trustee cannot file the tax return for the trust. T737-RCA - Statement of Contributions Paid to a Custodian of an RCA: http://www.cra-arc.gc.ca/E/pbg/tf/t737-rca/README.html T737-RCASUM - Return of Contributions Paid to a Custodian of an RCA: http://www.cra-arc.gc.ca/E/pbg/tf/t737-rcasum/README.html Schedule of Future Requirements: http://www.rcf.ca/pension_concerns/advisors/Schedule%20Of%20Future%20Requirements-English.pdf ---- T737 Rappel La société doit compléter annuellement le formulaire T737-RCA Sommaire, Déclaration des Cotisations versées à un Dépositaire d’une Convention de Retraite, et le formulaire T737-RCA, État des Cotisations versées à un Dépositaire d’une Convention de Retraite. La société doit compléter ces déclarations au plus tard le dernier jour de février suivant l’année de calendrier pendant laquelle des contributions ont été effectuées. Tout manquement à cette obligation dans le temps prescrit peut entraîner l’application de pénalités importantes pour production tardive. La copie du dépositaire de ces formulaires doit être postée (ou faxée – 416-359-0402 Attn : Bob Mathew) à la Société de fiducie BMO au plus tard à la fin du mois de février, dans le cas contraire le fiduciaire sera dans l’impossibilité de compléter les déclarations d’impôt pour la fiducie. Le comptable du client peut habituellement compléter ces rapports. T737-RCA - ÉTAT DES COTISATIONS VERSÉES AU DÉPOSITAIRE D'UNE CONVENTION DE RETRAITE http://www.cra-arc.gc.ca/F/pbg/tf/t737-rca/LISEZ-MOI.html T737-RCASUM - DÉCLARATION DE RENSEIGNEMENTS DES COTISATIONS VERSÉES AU DÉPOSITAIRE D'UNE CONVENTION DE RETRAITE http://www.cra-arc.gc.ca/F/pbg/tf/t737-rcasum/LISEZ-MOI.html CALENDRIER DES EXIGENCES FUTURES http://www.rcf.ca/pension_concerns/advisors/Schedule%20Of%20Future%20Requirements-French.pdf

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Introducing SERPPlus - Retirement Security for Executives with Cost Recovery for Shareholders in Public Corporations

Thu, 07 Jul 2011 16:33:54 -0400

RCF is proud to launch SERPPlus for Key Executives primarily in public corporations, and to certain executives in large private corporations. The Situation: You and others are key employees of a Public Corporation with a Supplemental Executive Retirement Plan (SERP) that is both unsecured and unfunded. The Corporation would likely be willing to remove these anxieties if the investment inefficiencies of Retirement Compensation Arrangements (RCAs) were mitigated, there were cost savings to the Corporation and, benefits to Shareholders. The Solution: RCF's SERPPlus provides provides security of accrued SERP liabilities funded at retirement, substantially reduced cash flow costs over "pay-as-you-go" and provides cost recovery to Shareholders. Resources & Tools: Learn more about SERPPlus in the latest issue of RCFNews (Issue 23): http://www.rcf.ca/pension_concerns/rcflibrary/rcfnews/RCFNews-Issue23.pdf After you have read the article, please review the SERPPlus Case Study Report: http://www.rcf.ca/pension_concerns/1030EN-SERPPlus.pdf Please feel free to contact Roy Craik or Pierre Ghorbanian if you have any questions.

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In the Media....

Wed, 31 Aug 2011 08:32:35 -0400

Here are links to some of the articles written by RcF Staff that found its way to various magazines for the month of August: 'Retirement Income Inadequacy Increases Significantly after $150,000'. By: Carl Rosen, Private Wealth Canada, August 2011 http://privatewealthcanada.ca/retirement_income_inadequacy_increases.html 'SERPs In Public Corporations ‒ Problems & Solutions '. By: Roy W. Craik, Private Wealth Canada, August 2011 http://www.privatewealthcanada.ca/serps_public_corporations_problems_solutions.html 'Personal Pension Plans'. By: Pierre Ghorbanian, Canadian Capital Magazine, August 2011 http://www.capitalmagazine.ca/plan/tax-and-estate-planning/creating-a-personal-pension-4225 Stay tuned for more articles next month!

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Important Announcement

Wed, 12 Oct 2011 10:28:15 -0400

Dear Plan Advisors,

We would like to inform you of some important changes happening at RcF going forward.

As you know, Retirement Compensation Funding Inc (RcF) provides a turnkey Supplemental Employee Retirement Plan (SERP) program using the Retirement Compensation Arrangement (RCA) provisions under the Income Tax Act for higher earning Executives / Business Owners. SERPs / RCAs are used to fund a supplemental pension plan in addition to RRSPs (and/or other Registered Plans) and are funded due to legislative caps/limits placed on RRSP / RPPs for high earning Canadians.    RcF’s turnkey program is administered by BMO Trust Company as the Corporate Trustee on all RCAs.

Effective October 17th, Pierre Ghorbanian will be moving over to BMO Insurance in the Advanced Markets department.   One of his functions will including working with Financial Advisors contracted with BMO Insurance in the development of RCAs funded with BMO Insurance related products.   Pierre will be RcF’s liaison at BMO Insurance, and will continue to use RcF’s RCA illustration system (under agreed arrangements with RcF) and the special arrangements RcF has with BMO Trust Company (to offer RCA Trust Services a significantly reduced rates exclusive to RcF).

RcF is looking forward to continuing to working with Pierre in the development of RCAs.   At the same time, we have brought on Andrea Lettner who will be RcF’s Technology & Illustrations Associate.   Andrea has been working in the IT field for 10 years, and one function will include modernizing and automating our RCA Illustration software including web-based and mobile applications platform.   RcF is looking forward to the work ahead on this very big initiative.

Please make note of some important email and websites for the ongoing servicing of your RCA.

Administrative inquiries about your clients RCA Trust such as how to make investment changes, distribution of funds, mailing addresses to BMO Trust or CRA, etc:   Go to http://www.rcf.ca/pension_concerns/advisors/ to view guides, templates, and FAQs.    If you still cannot locate the answer, contact Bob Mathew at BMO Trust Company.

General New Business/Sales or Technical Inquiries:   Please contact Roy Craik, Carl Rosen, or Mike McGraw

New Business RCA inquiries for RCAs funded/underwritten by BMO Insurance: Please contact Pierre via your BMO Insurance Regional Sales Office as his BMO phone and email information is not available at the time of this announcement.

If you have any questions on these new arrangements, please contact me at 416.364.6444 or info@rcf.ca.

Sincerely,

Roy W. Craik
Chairman
Retirement Compensation Funding Inc

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T737 Reminder / T737 Rappel

Sat, 21 Jan 2012 14:18:30 -0500

**La version française suit l'anglais**
T737 Reminder The Plan Member's corporation (Plan Sponsor) must file annually a T737-RCA and the information return, which includes a T737-RCA Summary, Return of Contributions Paid to a Custodian of a RCA, and the related T737-RCA slips, Statement of Contributions Paid to a Custodian of an RCA. The corporation must file this return by the last day of February following the calendar year in which contributions were made. Failure to file the T737 returns on time may result in significant late filing penalties. The custodian’s copy of T737 must be mailed (or faxed-416-359-0402 Att: Bob Mathew) to BMO Trust Company by the end of February, or trustee cannot file the tax return for the trust. T737-RCA - Statement of Contributions Paid to a Custodian of an RCA: http://www.cra-arc.gc.ca/E/pbg/tf/t737-rca/README.html T737-RCASUM - Return of Contributions Paid to a Custodian of an RCA: http://www.cra-arc.gc.ca/E/pbg/tf/t737-rcasum/README.html Schedule of Future Requirements: http://www.rcf.ca/pension_concerns/advisors/Schedule%20Of%20Future%20Requirements-English.pdf ---- T737 Rappel La société doit compléter annuellement le formulaire T737-RCA Sommaire, Déclaration des Cotisations versées à un Dépositaire d’une Convention de Retraite, et le formulaire T737-RCA, État des Cotisations versées à un Dépositaire d’une Convention de Retraite. La société doit compléter ces déclarations au plus tard le dernier jour de février suivant l’année de calendrier pendant laquelle des contributions ont été effectuées. Tout manquement à cette obligation dans le temps prescrit peut entraîner l’application de pénalités importantes pour production tardive. La copie du dépositaire de ces formulaires doit être postée (ou faxée – 416-359-0402 Attn : Bob Mathew) à la Société de fiducie BMO au plus tard à la fin du mois de février, dans le cas contraire le fiduciaire sera dans l’impossibilité de compléter les déclarations d’impôt pour la fiducie. Le comptable du client peut habituellement compléter ces rapports. T737-RCA - ÉTAT DES COTISATIONS VERSÉES AU DÉPOSITAIRE D'UNE CONVENTION DE RETRAITE http://www.cra-arc.gc.ca/F/pbg/tf/t737-rca/LISEZ-MOI.html T737-RCASUM - DÉCLARATION DE RENSEIGNEMENTS DES COTISATIONS VERSÉES AU DÉPOSITAIRE D'UNE CONVENTION DE RETRAITE http://www.cra-arc.gc.ca/F/pbg/tf/t737-rcasum/LISEZ-MOI.html CALENDRIER DES EXIGENCES FUTURES http://www.rcf.ca/pension_concerns/advisors/Schedule%20Of%20Future%20Requirements-French.pdf

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T737 Reminder / T737 Rappel

Wed, 30 Jan 2013 22:00:36 -0500

**La version française suit l'anglais**
T737 Reminder The Plan Member's corporation (Plan Sponsor) must file annually a T737-RCA and the information return, which includes a T737-RCA Summary, Return of Contributions Paid to a Custodian of a RCA, and the related T737-RCA slips, Statement of Contributions Paid to a Custodian of an RCA. The corporation must file this return by the last day of February following the calendar year in which contributions were made. Failure to file the T737 returns on time may result in significant late filing penalties. The custodian’s copy of T737 must be mailed (or faxed-416-359-0402 Att: Bob Mathew) to BMO Trust Company by the end of February, or trustee cannot file the tax return for the trust. T737-RCA - Statement of Contributions Paid to a Custodian of an RCA: http://www.cra-arc.gc.ca/E/pbg/tf/t737-rca/README.html T737-RCASUM - Return of Contributions Paid to a Custodian of an RCA: http://www.cra-arc.gc.ca/E/pbg/tf/t737-rcasum/README.html Schedule of Future Requirements: http://www.rcf.ca/pension_concerns/advisors/Schedule%20Of%20Future%20Requirements-English.pdf ---- T737 Rappel La société doit compléter annuellement le formulaire T737-RCA Sommaire, Déclaration des Cotisations versées à un Dépositaire d’une Convention de Retraite, et le formulaire T737-RCA, État des Cotisations versées à un Dépositaire d’une Convention de Retraite. La société doit compléter ces déclarations au plus tard le dernier jour de février suivant l’année de calendrier pendant laquelle des contributions ont été effectuées. Tout manquement à cette obligation dans le temps prescrit peut entraîner l’application de pénalités importantes pour production tardive. La copie du dépositaire de ces formulaires doit être postée (ou faxée – 416-359-0402 Attn : Bob Mathew) à la Société de fiducie BMO au plus tard à la fin du mois de février, dans le cas contraire le fiduciaire sera dans l’impossibilité de compléter les déclarations d’impôt pour la fiducie. Le comptable du client peut habituellement compléter ces rapports. T737-RCA - ÉTAT DES COTISATIONS VERSÉES AU DÉPOSITAIRE D'UNE CONVENTION DE RETRAITE http://www.cra-arc.gc.ca/F/pbg/tf/t737-rca/LISEZ-MOI.html T737-RCASUM - DÉCLARATION DE RENSEIGNEMENTS DES COTISATIONS VERSÉES AU DÉPOSITAIRE D'UNE CONVENTION DE RETRAITE http://www.cra-arc.gc.ca/F/pbg/tf/t737-rcasum/LISEZ-MOI.html CALENDRIER DES EXIGENCES FUTURES http://www.rcf.ca/pension_concerns/advisors/Schedule%20Of%20Future%20Requirements-French.pdf

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