do academic honors correlate to specific GPA percentiles?

According to our website, highest honors is 3.55+, high honors is 3.35+, and honors is 3.15+. According to wikipedia, these three levels are generally given to the top 25, 10 and 5 percents of classes. Can anyone confirm if this is how we operate? I'm a bit skeptical because from what I've heard, the average GPA here is like 3.1ish.