Definitions
1. (1) In this Regulation, “actuarially equivalent” means of equal value according to the actuarial assumptions prescribed by the actuary and calculated using unisex mortality tables for all service; “actuary” means the actuary appointed by the Board; “beneficiary” means a beneficiary designated under this Regulation; “continuous service” means unbroken service, and such service shall be deemed not to be broken by, (a) a period between employment by one participating employer and employment by another or the same participating employer if the member has not received a refund of contributions under subsection 19 (1), (b) a leave of absence for any reason where the employer has authorized such leave and either before or after the commencement of such leave has agreed that it shall be deemed not to be a break in service, (c) in any case where the member is not considered under section 14 to be totally disabled, an absence that the employer determines is caused by the member being wholly prevented by mental or physical incapacity from performing the regular duties of the occupation of the member, (d) an absence due to a strike or lockout as defined in the Labour Relations Act, (e) in the case of a member who is a councillor, a period between a term of council with one participating employer and a term of council with another or the same participating employer if the member has not received a refund of contributions under subsection 19 (1), (f) a period, prior to the normal retirement date of a member, during which the member is in receipt of a pension under section 14, (g) the period of a layoff for so long as recall rights exist or the employer reasonably expects to recall the member, or (h) a period during which a member, (i) is employed by one participating employer (the “first employer”) and is absent from work with the first employer for a reason described in clause (b), (d) or (g), and (ii) is employed by another participating employer (the “second employer”) and is a member of the System as an employee of the second employer; “contributory earnings” means, (a) in the case of an employee who was a member before the 1st day of January, 1978, the earnings of the member, and (b) in the case of an employee who was a member on and after the 1st day of January, 1978, the earnings of the member exclusive of salary or wages paid for overtime, payments made with respect to unused sick leave credit gratuities and payments made as retirement bonuses or otherwise as a result of retirement or other termination of employment whether in respect of long service or otherwise, and (c) in the case of a councillor who is a member, means any money paid to the councillor for the councillor’s services as a councillor under the Municipal Act, 2001, provided that, unless the contrary is established to the satisfaction of the president, the contributory earnings of a member shall be deemed to be the contributory earnings that would be represented by the amount of contributions actually received by the Fund in respect of the member; “credited service” means the years and part years of service of a member for which contributions under section 10 have been made and not refunded and includes any service established for a member under sections 14, 20, 25, 26 and 26.1; “dependent child” means the child of a deceased member who at the time of the member’s death was dependent on the member for support and, (a) is under 19 years of age and will not attain that age in the calendar year of the member’s death, (b) is under 21 years of age and in full-time attendance at an educational institution if the member dies prior to January 1, 2005, or (c) is under 25 years of age and in full-time attendance at an educational institution if the member dies on or after January 1, 2005; “dependent child benefit period” means the period, (a) up to the end of the calendar year in which a dependent child reaches 18 years of age, (b) during which a dependent child is under 21 years of age and continues in full-time attendance at an educational institution if the member dies prior to January 1, 2005, or (c) during which a dependent child is under 25 years of age and continues in full-time attendance at an educational institution if the member dies on or after January 1, 2005; “effective date” means the date upon which an employer commences to participate in the System in respect of both councillors and employees or in respect of either of them, as the case may be, according to the Act and this Regulation; “pensionable earnings” means, (a) where a member has 60 or more months of credited service, the result obtained by taking the sum of the member’s contributory earnings for the 60 months of consecutive credited service during which such contributory earnings were the highest and dividing that sum by five, and (b) where a member has less than 60 months of credited service, the result obtained by taking the sum of the member’s contributory earnings, dividing that sum by the number of months of such service and multiplying the figure so obtained by 12; “physician” means a medical doctor licensed to practise under the laws of a province of Canada or the place where the applicable member resides; “present value” means an amount that is actuarially equivalent to a payment or payments that become due in the future; “president” means the president appointed by the board; “prior service agreement” means an agreement entered into under this Regulation for the provision of benefits in respect of prior service; “retire” means retire from service and “retirement” has a corresponding meaning; “supplementary agreement” means an agreement entered into under this Regulation for the provision of supplementary benefits; “Year’s Maximum Pensionable Earnings” has the same meaning as in the Canada Pension Plan. R.R.O. 1990, Reg. 890, s. 1; O. Reg. 775/91, s. 1 (1, 2); O. Reg. 783/92, ss. 1, 2; O. Reg. 591/98, s. 1 (1, 2); O. Reg. 317/99, s. 1; O. Reg. 633/99, s. 1; O. Reg. 430/00, s. 1; O. Reg. 404/02, s. 1; O. Reg. 402/04, s. 1. (2) The commuted value of a pension is the value of that pension calculated in the manner prescribed under the Pension Benefits Act using unisex mortality tables for all service. However, (a) the commuted value of a member’s pension in respect of his or her credited service as of December 31, 1986 shall not be less than the contributions made by the member under this Regulation on or before that date, plus interest, excluding the contributions referred to in subsections 12 (6), 26 (14) and 26 (16); and (b) the commuted value of a member’s total pension shall not be less than the contributions made by the member under this Regulation plus interest, excluding the contributions referred to in subsections 12 (6), 26 (14) and (16) and excluding any refund payable under subsection 19 (2). O. Reg. 591/98, s. 1 (3). Management and Administration