jswizzle3737/ontario_laws_and_regs huggingface dataset:
Management and Administration
2. (1) The Board shall be composed of, (a) nine members who are employees of any employer who has elected to participate in the System, four of whom shall be officers of such an employer; (b) two persons who are members of the council of a participating municipality or of a participating local board of a municipality; (c) one official of the Province of Ontario; and (d) one other member who is in receipt of a pension under section 13 or 17 or is considered totally disabled under section 14 whether or not in receipt of a pension. R.R.O. 1990, Reg. 890, s. 2 (1); O. Reg. 775/91, s. 2 (1, 2); O. Reg. 591/98, s. 2. (2) The members of the Board shall be appointed by the Lieutenant Governor in Council and, subject to subsection (3), shall hold office for three years or such lesser period as the Lieutenant Governor in Council may determine and until their successors are appointed. R.R.O. 1990, Reg. 890, s. 2 (2). (3) If any member of the Board dies, becomes incapable of acting, resigns, is removed from office or ceases to hold the qualifications necessary for the member’s appointment, he or she thereupon ceases to be a member of the Board. R.R.O. 1990, Reg. 890, s. 2 (3). (4) The Lieutenant Governor in Council shall appoint another eligible person to fill any vacancy on the Board as soon thereafter as is practicable and the person so appointed shall hold office for the unexpired portion of the term of the member being replaced, or for such lesser period as the Lieutenant Governor in Council may determine. R.R.O. 1990, Reg. 890, s. 2 (4). (5) A majority of the members of the Board holding office at the time any meeting is held constitutes a quorum for the purposes of such meeting. R.R.O. 1990, Reg. 890, s. 2 (5). (6) The Board shall elect from its members a chair and a vice-chair. R.R.O. 1990, Reg. 890, s. 2 (6). (7) The fiscal year of the Board is the calendar year. R.R.O. 1990, Reg. 890, s. 2 (7). (8) The Board shall forward a copy of the annual report to every participating employer. O. Reg. 775/91, s. 2 (3). (9) The Board shall provide to members or other persons, as the case may be, such information, in the prescribed form and within the prescribed time, as is required under the Pension Benefits Act. O. Reg. 775/91, s. 2 (3).
Management and Administration
3. Revoked: O. Reg. 783/92, s. 3. Duties of the President
Duties of the President
4. (1) The president, (a) shall maintain the books of account, records and documents of the Board and whatever information is necessary for the financial, administrative and actuarial requirements of the Board; (b) shall receive, deposit and pay all money of the Fund in such manner as the Board directs; (c) shall receive, keep safely and deliver all securities of the Fund in such manner as the Board directs; (d) may borrow from time to time, as approved by the Board, such sums as are necessary to meet the needs of the Board; (e) shall determine whether or not a benefit is payable, the amount of a benefit that is payable, and to whom a benefit is payable under this Regulation; (f) shall determine, in the case of a disagreement, the date on which a benefit becomes or should have become payable under this Regulation; (g) shall prepare an annual report to the Board on the affairs of the System; (h) may, for the purposes of this Regulation, determine the individual who is the surviving spouse of a member; and (i) shall prepare and distribute the information necessary to meet the Board’s obligations under subsection 2 (9). R.R.O. 1990, Reg. 890, s. 4 (1); O. Reg. 775/91, s. 3; O. Reg. 783/92, s. 2; O. Reg. 75/00, s. 1; O. Reg. 340/05, s. 1. (2) Any person aggrieved by a determination made by the president or by the failure of the president to make a determination under clause (1) (e) or (f) or under any other provision of this Regulation relating to an approval, consideration or direction to be given or other action to be taken by the president may appeal to the Board from such determination or failure to make a determination and the decision of the Board is final. R.R.O. 1990, Reg. 890, s. 4 (2); O. Reg. 783/92, s. 2. Duties of the Actuary
Duties of the Actuary
5. The actuary shall, at the request of the president, prepare and advise on whatever actuarial calculations, schedules or tables are necessary for the proper administration of the System. R.R.O. 1990, Reg. 890, s. 5; O. Reg. 783/92, s. 2. Duties of the Employer
Duties of the Employer
6. (1) All member and employer contributions in respect to the contributory earnings of a member shall be paid by the employer to the Board so that they shall be received by the Board at its office in Toronto on or before the last day of the month next following the month in respect of which the contributions were made. R.R.O. 1990, Reg. 890, s. 6 (1). (2) When an employer fails to pay to the Board the contributions within the time set out in subsection (1), there shall be charged to the employer, in any month, interest at a rate equal to 1½ per cent per month plus the prime rate on the first business day of that month of the bank that has the highest prime rate on that day on the amount of unpaid contributions from the end of the time period specified in subsection (1) until the date the total amount due has been received in the offices of the Board. R.R.O. 1990, Reg. 890, s. 6 (2); O. Reg. 775/91, s. 4 (1). (3) An employer shall provide the president with the name, sex, date of birth, marital status, earnings and service of each member and such other information as may be necessary for the administration of the System, within such time limit as the Board may establish. R.R.O. 1990, Reg. 890, s. 6 (3); O. Reg. 783/92, s. 2. (4) An employer shall provide each member with an explanation in writing of the contributions required and the pension benefits provided under the Act and this Regulation and such other information as the Board shall determine in the form and within the time established by the Board. O. Reg. 775/91, s. 4 (2). Participation by Employers
Participation by Employers
7. (1) An employer may participate in the System by submitting an election in writing to the president. R.R.O. 1990, Reg. 890, s. 7 (1); O. Reg. 783/92, s. 2. (2) An election by an employer who is not an associated employer must include the participation of employees and may include the participation of all councillors or of the head of council only. O. Reg. 594/98, s. 1. (2.1) An election by an employer who is an associated employer may specify the classes of employees who are to be members of the System. O. Reg. 594/98, s. 1. (3) The effective date with respect to employees, councillors or heads of council may be the first day of any month within the year in which the president receives the employer’s election to participate in the System in respect of those employees, councillors or heads of council. O. Reg. 694/94, s. 1. Membership
Membership
9. Despite the definitions of “continuous service”, “contributory earnings”, “credited service” and “pensionable earnings” in section 1, a member who is employed on other than a continuous full-time basis, (a) shall be deemed to have continuous service while so employed; (b) shall accrue credited service each year on a proportional basis to a member employed on a continuous full-time basis in a similar occupation with the employer; and (c) shall have the member’s pensionable earnings calculated using annualized contributory earnings and continuous service in lieu of credited service. R.R.O. 1990, Reg. 890, s. 9. Contributions by Members
Contributions by Employers
11. (1) Every employer shall contribute to the Fund an amount equal to contributions made under subsection 10 (1) by employees or councillors of the employer. O. Reg. 775/91, s. 8 (1). (2) Revoked: O. Reg. 775/91, s. 8 (2). (3) Revoked: O. Reg. 775/91, s. 8 (2). (4) Revoked: O. Reg. 775/91, s. 8 (2). (5) Revoked: O. Reg. 775/91, s. 8 (2). (6) Revoked: O. Reg. 775/91, s. 8 (2). (7) Revoked: O. Reg. 775/91, s. 8 (2). (8) Where a member elects to make a contribution, (a) under subsection 10 (5), the employer shall make an equal contribution and shall pay such member contributions and employer contributions to the Fund forthwith; (b) under clause 10 (7) (a), the employer shall make an equal contribution and shall pay to the Fund on or before a date designated by the Board such member contributions and employer contributions; or (c) under clause 10 (7) (b) or subsection 10 (8), the employer shall pay such contributions to the Fund forthwith. R.R.O. 1990, Reg. 890, s. 11 (8).
Contributions by Employers
11.1 (1) Despite subsection 10 (2.1), if an actuarial valuation made under subsection 7 (1) of the Act reveals an unfunded liability or solvency deficiency as defined in the Pension Benefits Act and periodic amounts are to be paid to the Fund under that Act to liquidate the unfunded liability or solvency deficiency, the Board, on the advice of the actuary, shall increase the rate of contributions under subsection 10 (2.1) to a level sufficient to ensure payment of one-half of such periodic amounts for the period required under the Pension Benefits Act.  O. Reg. 775/91, s. 9. (2) Despite subsection 10 (2.1), the Board, on the advice of its actuary, shall decrease equally the rates of contribution under subsections 10 (2.1) and 11 (1) if, (a) an actuarial valuation made under subsection 7 (1) of the Act and filed with the Superintendent under the Pension Benefits Act reveals a surplus; and (b) in the opinion of the Board, the surplus is sufficient to, (i) permit a decrease in the contributions to the Fund, and (ii) provide a reserve to avoid a future going concern unfunded liability or solvency deficiency, both as defined in Regulation 909 of the Revised Regulations of Ontario, 1990 made under the Pension Benefits Act. O. Reg. 422/97, s. 1. (3) A decrease in contribution rates under subsection (2) is effective for such period or periods of time as may be determined by the Board. O. Reg. 422/97, s. 1. Normal Retirement
Disability Retirement Benefits
13.1 (1) In this section, “career average pension” means a pension for a period of contributory earnings before January 1, 1978 calculated under Regulation 638 of the Revised Regulations of Ontario, 1970, as amended to December 31, 1977, or a predecessor of that regulation, excluding any pension calculated as the product of a percentage multiplied by credited service multiplied by pensionable earnings. O. Reg. 460/01, s. 1. (2) The pension payable to or in respect of a member shall be increased by 1.92 per cent of the career average pension payable in respect of credited service after December 31, 1965 but before January 1, 1978 if between those dates, (a) the member retired or terminated employment from an employer that participates or participated in the System; and (b) the member’s pension is a career average pension. O. Reg. 460/01, s. 1. (3) The effective date of the increase described in subsection (2) is January 1, 1999. O. Reg. 460/01, s. 1.
Downsizing Benefits
17.1 (1) This section applies if an employer has entered into a supplementary agreement with the Board described in section 26.2. O. Reg. 221/93, s. 1. (2) An immediate early retirement pension may be payable to a member, (a) if the member is at least sixty years of age; or (b) if the member’s age, in full years and months, plus his or her credited service and eligible service, in full years and months, equals at least eighty. O. Reg. 221/93, s. 1; O. Reg. 81/94, s. 2 (1); O. Reg. 109/96, s. 1 (1). (3) The immediate early retirement pension may begin to be paid to the member from the first day of the month following the month in which he or she reaches fifty years of age. O. Reg. 221/93, s. 1. (3.1) Revoked: O. Reg. 109/96, s. 1 (2). (3.2) Revoked: O. Reg. 109/96, s. 1 (2). (4) The annual amount of the immediate early retirement pension shall be the annual amount of pension payable calculated in the manner prescribed for a normal retirement pension under section 13, less the annual amount payable to the member as an early retirement pension under section 17. O. Reg. 221/93, s. 1; O. Reg. 81/94, s. 2 (3). (5) Despite section 18, if a member receiving a pension under a supplementary agreement described in section 26.2 again becomes an employee, payment of the pension to the member shall cease and the pension shall not be recommenced if the member subsequently ceases to be an employee. O. Reg. 109/96, s. 1 (3). (6) Subsection (5) applies only in respect of a supplementary agreement which comes into force on or after March 29, 1996. O. Reg. 109/96, s. 1 (3). Note: Section 17.1, as it read on March 28, 1996, continues to apply to supplementary agreements entered into on or before March 31, 1995. See O. Reg. 109/96, s. 3. Payment of Benefits
Payment of Benefits
18. (1) Pensions are payable in equal monthly instalments. R.R.O. 1990, Reg. 890, s. 18 (1). (2) If, after beginning to receive a pension, a member becomes a councillor or employee of an employer, the member may elect to be deemed to cease being an employee or councillor for the purpose of the provisions of this Regulation for making further contributions for a pension, and for accruing further contributory earnings and further credited service for a pension. O. Reg. 402/04, s. 6. (3) If a member is in receipt of a pension in the circumstances described in subsection (2) but does not make the election, the payment of the pension shall cease during the period that the member is an employee or councillor and upon recommencement, the pension shall be recalculated in accordance with section 13, 14 or 17, as the case may be. O. Reg. 402/04, s. 6. (3.1) A member shall be deemed, from the commencement date of the member’s pension as determined under subsection 13 (2) or 17 (4), as the case may be, to cease being an employee or councillor for the purpose of any provision of this Regulation for making further contributions for a pension or accruing further contributory earnings or credited service for a pension if, (a) the member is or has been an employee or councillor of more than one employer in overlapping periods; and (b) the member elects to receive an early retirement pension or a normal retirement pension in respect of his or her service with one employer while still an employee or councillor with another employer. O. Reg. 402/04, s. 6. (3.2) A member who elects to receive an early retirement pension or a normal retirement pension under clause 18 (3.1) (b) in respect of his or her service with an employer shall be deemed, despite subsection 16 (1), to cease being an employee or councillor of any other employer for the purposes of receiving a deferred pension under section 16 in respect of the member’s service with the other employer. O. Reg. 402/04, s. 6. (4) Despite any other provision of this Regulation, a member who ceases to be in the service of an employer or the surviving spouse or child of such a member who is entitled to a pension or deferred pension, the annual amount of which is less than the amount prescribed in the Pension Benefits Act, may elect to receive instead of the pension or deferred pension a lump sum amount that is equal to the commuted value of the pension or deferred pension. O. Reg. 775/91, s. 16 (2); O. Reg. 75/00, s. 7; O. Reg. 340/05, s. 7. Refund of Contributions by Members
Refund of Contributions by Members
19.0.1 (1) This section applies to a member, (a) who terminates employment (the “old employment”) and ceases to be eligible to make contributions to the Fund upon terminating that employment; (b) who receives a refund of contributions under subsection 19 (2) in respect of the old employment; and (c) who, as a result of employment that begins on or after June 1, 1999 (the “new employment”), becomes required to make contributions to the Fund. O. Reg. 317/99, s. 10. (2) The member may elect to pay into the Fund an amount equal to the amount he or she received under subsection 19 (2) in respect of the old employment, together with interest (at the rate described in section 19) from the date it was paid under that subsection. O. Reg. 317/99, s. 10. (3) The normal retirement pension of a member who does not pay the entire amount described in subsection (2) shall be determined in accordance with subsections 13 (5.1) and (7.0.1) instead of subsections 13 (4.1), (4.2), (5), (6.1), (6.2) and (7). O. Reg. 317/99, s. 10; O. Reg. 430/00, s. 4. Refund of Commuted Value
Refund of Commuted Value
19.1 (1) This section applies with respect to a member who has a life expectancy of less than 24 months as certified by a physician appointed by the Board and who is entitled to a deferred pension under this Regulation. O. Reg. 591/98, s. 12. (2) The member may elect to receive in a lump sum the payment described in subsection (3) in satisfaction of all of his or her rights under this Regulation. O. Reg. 591/98, s. 12. (3) The amount of the payment is the commuted value of the member’s deferred pension less the sum of any benefits paid to the member under this Regulation other than amounts paid under subsections 19 (2) and (2.1). O. Reg. 591/98, s. 12; O. Reg. 317/99, s. 11.
Refund of Commuted Value
20. (1) Where a member ceases to be an employee of the employer, receives a refund of contributions plus interest from the Fund, commences a grievance or other legal proceeding for wrongful dismissal and, as a result of the grievance or other legal proceeding, is reinstated as an employee of the employer, the member may elect to pay the amount of the refund received together with interest thereon at a rate set by the Board on the advice of its actuary and thereby re-establish credited service for the period of time to which the refund is applicable and the member shall recommence contributing to the Fund from the time of reinstatement as an employee in accordance with subsection 10 (1). R.R.O. 1990, Reg. 890, s. 20 (1). (1.1) The member is not entitled to make the payment described in subsection (1) unless he or she obtains the prior approval required under the Income Tax Act (Canada) for such a payment. O. Reg. 591/98, s. 13. (2) If a member ceases to be an employee of the employer and applies for a benefit under this Regulation and the president is aware that the employee has commenced or will be commencing a grievance or other legal proceeding seeking the employee’s reinstatement, the president shall delay the payment of the refund until a decision has been made with respect to the grievance or proceeding as to whether the employee will be reinstated or not. O. Reg. 775/91, s. 18; O. Reg. 783/92, s. 2. (3) Subsection (2) does not apply if the member transfers directly to the service of another employer which has elected to participate in the System or elects a transfer under subsection 25 (6). O. Reg. 775/91, s. 18. Adjustment of Pensions Under Payment
Adjustment of Pensions Under Payment
22. (1) In this section, “inflation increase” means the percentage increase of the September, 1997 Consumer Price Index for Canada over, (a) if a pension was payable on December 1, 1997, the Consumer Price Index for Canada for the month in which the person’s pension commenced, (b) despite clause (a), if a pension was payable on December 1, 1997 in respect of a deceased person to a spouse or child of that person, the Consumer Price Index for Canada for the earlier of the month in which the spouse’s or child’s pension commenced or the month in which the deceased person’s pension had commenced, as the case may be, (c) if a member was entitled to a deferred pension on December 1, 1997 under section 16, the Consumer Price Index for Canada for the month in which the member became so entitled, or (d) if a member was entitled to a disability benefit on December 1, 1997 under subsection 14 (3), the Consumer Price Index for Canada for the month in which the member became so entitled. O. Reg. 422/97, s. 9. (2) For the purposes of this section, the 1997 inflation catch-up adjustment with respect to any person is 100 per cent of the inflation increase minus the total per cent increase to December 31, 1997 under section 14, 16 or 21 applicable to a pension or deferred pension or in respect of a disability benefit under section 14 payable to that person. O. Reg. 422/97, s. 9. (3) The 1997 inflation catch-up adjustment shall not be less than zero. O. Reg. 422/97, s. 9. (4) Despite subsection (1), for the purposes of subsections 14 (9) and (11), the inflation increase shall equal the lesser of the inflation increase under subsection (1) and the percentage increase in the monthly average of the average weekly wages and salaries of the Industrial Aggregate in Canada as published by Statistics Canada, for the same period as the inflation increase under subsection (1). O. Reg. 422/97, s. 9. (5) The pension payable to a person during his or her lifetime shall be determined in accordance with this Regulation or a predecessor of this Regulation in force at the commencement of the pension to the person and, (a) if a pension is payable to a person on January 1, 1998, the pension payable on that date shall be increased by the 1997 inflation catch-up adjustment described in subsection (2); and (b) if a person who would have been entitled to an increase under clause (a) dies before January 1, 1998, the pension payable in respect of that deceased person to another person or persons on January 1, 1998 shall be increased on that date by the 1997 inflation catch-up adjustment that would have applied under clause (a) in respect of the deceased person had he or she not died. O. Reg. 422/97, s. 9.
Adjustment of Pensions Under Payment
23. (1) Where, in the case of an employer who has elected to participate in the System, (a) a member; (b) a retired employee who was not a member; or (c) the surviving spouse or child of a person mentioned in clause (a) or (b), has commenced to receive a pension under section 13, 14, 15, 15.1, 17 or 17.1 or under an approved pension plan, the Board, upon entering into an agreement with the employer and upon receipt of an amount of money sufficient to provide for payment of such additional amount of pension, as the Board upon the advice of the actuary may determine, shall pay the additional amount of pension to such member, retired employee, surviving spouse or child, as the case may be. R.R.O. 1990, Reg. 890, s. 23; O. Reg. 775/91, s. 20 (1); O. Reg. 81/94, s. 3; O. Reg. 75/00, s. 8; O. Reg. 340/05, s. 8. (2) A pension payable under subsection (1) is subject to the conditions for early retirement pensions and increases to pensions under the Income Tax Act (Canada) and its regulations. O. Reg. 775/91, s. 20 (2).
Adjustment of Pensions Under Payment
24. Revoked: O. Reg. 591/98, s. 15. Transfers
Transfers
25. (1) This section applies if a member ceases to be an employee before a pension commences under this Regulation. O. Reg. 594/98, s. 2 (1). (1.1) Upon the written request of a member, the president shall authorize the transfer of the amount described in subsection (3) from the Fund to any other fund or plan that the member is entitled to join. O. Reg. 594/98, s. 2 (1). (2) Subsection (1.1) does not apply unless, (a) the requirements of the Pension Benefits Act and the Income Tax Act (Canada) are satisfied; (b) the fund or plan to which the transfer is to be made permits the transfer; (c) the amount transferred is used toward the provision of pensionable service for the member in the fund or plan to which the transfer is to be made; (d) the pensionable service does not exceed the member’s credited service or, if it does, the amount transferred will be reduced accordingly but to not less than the commuted value of the member’s pension entitlement; and (e) the fund or plan to which the transfer is to be made provides a reciprocal transfer arrangement. O. Reg. 775/91, s. 21; O. Reg. 591/98, s. 16 (1, 2); O. Reg. 594/98, s. 2 (2). (2.1) Revoked: O. Reg. 594/98, s. 2 (3). (2.2) Revoked: O. Reg. 594/98, s. 2 (3). (3) Subject to subsection (4), the amount to be transferred is the greater of the commuted value or the present value, calculated as of the date of transfer, of the member’s pension entitlement under this Regulation, excluding any pension entitlement under subsections 12 (6), 26 (14) and (16). O. Reg. 594/98, s. 2 (4). (4) A amount to be transferred shall be reduced by the amount described in subsection (5), (a) if the present value of the member’s pension entitlement exceeds its commuted value (both as determined for the purposes of subsection (3)); and (b) if the member has received a refund under subsection 19 (2) and has not repaid it. O. Reg. 594/98, s. 2 (4). (5) The amount of the reduction is the lesser of, (a) the amount of the refund under subsection 19 (2) plus interest from the date of payment to the date of the transfer at a rate to be determined by the Board; and (b) the present value of the pension entitlement less its commuted value (both as determined for the purposes of subsection (3)). O. Reg. 594/98, s. 2 (4). (6) Revoked: O. Reg. 594/98, s. 2 (4). (6.1) Revoked: O. Reg. 594/98, s. 2 (4). (7) Revoked: O. Reg. 594/98, s. 2 (4). (8) Revoked: O. Reg. 594/98, s. 2 (4).
Transfers
25.1 (1) A member who is entitled to a deferred pension under section 16 and who is not eligible for an early retirement pension under section 17 may elect, in satisfaction of all rights under this Regulation, to transfer the amount described in subsection (3) to a registered pension plan, a retirement savings arrangement or a provider of a life annuity. O. Reg. 594/98, s. 3. (2) Subsection (1) does not apply in respect of a pension entitlement under subsections 12 (6), 26 (14) and (16). O. Reg. 594/98, s. 3. (3) The amount is the commuted value of the deferred pension less the sum of any benefits paid to the member under this Regulation. A payment under subsection 19 (2) or (2.1) is not such a benefit. O. Reg. 594/98, s. 3; O. Reg. 317/99, s. 13. (4) The transfer must meet the requirements of the Pension Benefits Act and the Income Tax Act (Canada). O. Reg. 594/98, s. 3.
Transfers
25.2 (1) Upon the written request of a member, the president shall accept a transfer to the Fund of an amount for the member from another pension fund or plan. O. Reg. 594/98, s. 3. (2) The president shall not accept a transfer to the Fund, (a) if the transfer would result in a member’s credited service entitlement exceeding the member’s pensionable service under the transferring fund or plan; or (b) if the transfer does not meet the requirements of the Pension Benefits Act and the Income Tax Act (Canada). O. Reg. 594/98, s. 3. (3) The amount transferred shall be compared to the present value of a pension under this Regulation, calculated as of the date of transfer, based on credited service equal to the member’s pensionable service in the transferring fund or plan and, (a) if the amount transferred is equal to the present value, the member shall receive the full credited service entitlement; or (b) if the amount transferred is less than the present value, the member shall receive a credited service entitlement reduced proportionately. O. Reg. 594/98, s. 3. (4) If all or part of the amount of the shortfall described in clause (3) (b) is contributed to the Fund within six months after the member is notified of the shortfall, the additional amount contributed shall be taken into account in determining the credited service entitlement the member receives under that clause. O. Reg. 594/98, s. 3.
Transfers
25.3 (1) The Board may enter into agreements to transfer amounts to or from the Fund in respect of members and former members. O. Reg. 594/98, s. 3. (2) The Board may enter into such an agreement with only such persons as are authorized for the purpose under a pension or superannuation plan registered under the Income Tax Act (Canada). O. Reg. 594/98, s. 3. (3) The agreement shall set out the basis for calculating the amount to be transferred from the Fund or the benefits to be granted in respect of amounts transferred to the Fund, as determined by the Board on the advice of the actuary. O. Reg. 594/98, s. 3.
Transfers
25.4 If, as a result of a transfer under section 25.2 or under an agreement entered into under section 25.3, a past service pension adjustment as defined under the Income Tax Act (Canada) arises in respect of the past service of the member which occurs after 1989, no benefit shall be payable or funded in respect of the past service pension adjustment until it is certified under the Income Tax Act (Canada). O. Reg. 594/98, s. 3. Supplementary Benefits
Supplementary Benefits
26.1 (1) Despite section 26, a member may elect to purchase a benefit in respect of the following, subject to any conditions determined by the Board on the advice of the actuary: 1. All or part of the member’s prior service. 2. All or part of the member’s optional service that is eligible service under the Income Tax Act (Canada). O. Reg. 591/98, s. 18. (2) Revoked: O. Reg. 591/98, s. 18. (3) For the purposes of subsection (1), the cost of a benefit provided in respect of prior service or optional service shall equal the present value of that benefit. O. Reg. 775/91, s. 23. (4) If a member who has elected to purchase a benefit under subsection (1) is entitled to receive a benefit under a previous pension plan or fund in respect of the same period of service, the annual amount of the benefit under the previous pension plan or fund, as established on the date of election to purchase a benefit under subsection (1), shall be deducted from any benefit payable under this Regulation in respect of the period of prior service or optional service and the cost of the benefit under subsection (2) shall be reduced accordingly. O. Reg. 775/91, s. 23. (5) If a member who has elected to purchase a benefit under subsection (1) is entitled to receive a benefit under section 26 in respect of the same period of service, (a) for the purposes of determining the benefit cost under subsection (3), the annual amount of benefit payable under section 26, as established on the date of election to purchase a benefit under subsection (1), shall be deducted from any benefit payable under this Regulation in respect of the period of prior service or optional service; and (b) when a benefit becomes payable under this Regulation in respect of the period of prior service or optional service, the annual amount of benefit payable under section 26 shall be deducted from the benefit purchased under subsection (1). O. Reg. 775/91, s. 23; O. Reg. 783/92, s. 14 (1). (6) Any benefit purchased under subsection (1) is an increase to the pension payable under section 13 up to the maximum allowed under that section. O. Reg. 775/91, s. 23. (7) Despite subsection 10 (4), if any employer provides a benefit under section 26 in respect of the same period of service for which a member has purchased a benefit under subsection (1), any contributions made by the member under this section to purchase a benefit in respect of that period of service shall be refunded to the member, together with interest at the rate established in subsection 19 (3). O. Reg. 775/91, s. 23; O. Reg. 783/92, s. 14 (2). (8) Despite anything in this section, no benefit shall be payable or funded in respect of a member’s prior or optional service which occurs after 1989 until certification of the member’s past service pension adjustment under the Income Tax Act (Canada). O. Reg. 783/92, s. 14 (3). Downsizing Agreement
Downsizing Agreement
26.2 (1) In the circumstances described in subsection (2), an employer may enter into a supplementary agreement with the Board under subsection 26 (1) to provide immediate early retirement pensions to members. O. Reg. 221/93, s. 1. (2) The employer must have approved, by resolution, a downsizing program that meets the following requirements: 1. It was introduced as a result of financial pressures or constraints. 2. It aims to reduce the financial obligations of the employer by reducing the number of employees or the number of hours worked by employees. 3. It includes early retirement guidelines and a restructuring plan setting out the manner in which the employer intends to carry out the downsizing. O. Reg. 221/93, s. 1. (3) The supplementary agreement must provide for an eligibility period during which eligible members may elect to receive an immediate early retirement pension under the agreement. O. Reg. 221/93, s. 1. (4) An eligibility period commencing before March 29, 1996 must expire not later than two years after the supplementary agreement comes into force. O. Reg. 109/96, s. 2 (1). (4.1) An eligibility period commencing on or after March 29, 1996 must expire not later than one year after the supplementary agreement comes into force. O. Reg. 109/96, s. 2 (1). (5) The supplementary agreement may provide for a reduction in pension in the manner provided in subsection 17 (7), with necessary modifications. O. Reg. 221/93, s. 1; O. Reg. 81/94, s. 4. (6) Subsections 17 (2) and 26 (8) do not apply with respect to an immediate early retirement pension payable under the supplementary agreement. O. Reg. 221/93, s. 1. (7) An employer is not eligible to enter into a supplementary agreement described in this section after the 31st day of March, 1999. O. Reg. 221/93, s. 1; O. Reg. 109/96, s. 2 (2). Note: Section 26.2, as it read on March 28, 1996, continues to apply to supplementary agreements entered into on or before March 31, 1995. See O. Reg. 109/96, s. 3.
Downsizing Agreement
26.3 (1) Every member is entitled to supplementary benefits in respect of the amounts, if any, calculated as a normal retirement pension for the member under section 13, that would exceed the limit provided under subsection 13 (8). O. Reg. 81/94, s. 5. (1.1) Supplementary benefits are payable to members who are employed by an employer after December 31, 1992. O. Reg. 591/98, s. 19. (1.2) Supplementary benefits are payable in respect of a member’s credited service after December 31, 1992, other than credited service that accrues under subsection 10 (8), 25 (3), 26(2) or section 26.1. O. Reg. 591/98, s. 19. (1.3) Supplementary benefits are payable in respect of credited service during 1992 (other than credited service that accrues under subsection 10 (8), 25 (3) or 26 (2) or section 26.1) of a member employed by an employer after December 31, 1992, to the extent that the member purchases supplementary benefits for that service. Such a purchase is subject to any conditions determined by the Board on the advice of the actuary. O. Reg. 591/98, s. 19. (1.4) The supplementary benefits are subject to the same terms and conditions as pension benefits provided under this Regulation, but subsections 13 (8) and 19 (1) do not apply with respect to the supplementary benefits. O. Reg. 591/98, s. 19. (2) Supplementary benefits provided under subsection (1) shall be funded through a retirement compensation arrangement under the Income Tax Act (Canada). O. Reg. 81/94, s. 5. (3) The Board, on the advice of the actuary, shall determine the amount of the contributions to be paid to the Fund and the manner of payment of contributions to provide the supplementary benefits. O. Reg. 81/94, s. 5. Proof of Age, etc.
Proof of Age, etc.
27. The president may from time to time require such proof of the age, retirement, employment, marital status and death of a member or of a member’s surviving spouse or children and such proof of the identity of any person as is necessary for the purposes of making a determination under clauses 4 (1) (e), (f) and (h). O. Reg. 75/00, s. 9; O. Reg. 340/05, s. 9. Designation of Beneficiary
Designation of Beneficiary
28. Every member, by filing a notice with the president, may designate a person as the member’s beneficiary to receive such sums of money as may become payable to the member’s beneficiary under this Regulation and may revoke any such notice and designate another person as the member’s beneficiary. R.R.O. 1990, Reg. 890, s. 28; O. Reg. 783/92, s. 2. Surplus
Surplus
29. (1) In the event that surplus is paid from the Fund, whether the Fund continues to operate or is wholly or partially wound up within the meaning of the Pension Benefits Act, the surplus withdrawal shall be shared half by members who are employees and half by employers that have elected to participate in the System under section 7. O. Reg. 775/91, s. 23. (2) The share of the surplus withdrawal referred to in subsection (1) that is attributable to members shall be distributed among them in proportion to the total contributions made by each of them under sections 10, 26 and 26.1, plus interest. O. Reg. 775/91, s. 23. (3) The share of the surplus withdrawal referred to in subsection (1) that is attributable to employers shall be distributed among them in proportion to the aggregate of the amounts distributable to the employees of each employer. O. Reg. 775/91, s. 23. Miscellaneous
Miscellaneous
30. (1) If the Fund is wound up within the meaning of the Pension Benefits Act, the assets of the Fund shall be used to meet the accrued benefit entitlements of members, former members and any other persons entitled to a benefit under this Regulation in respect of a member or former member before any other distribution is made. O. Reg. 775/91, s. 23. (2) If the assets of the Fund are insufficient to secure the benefit entitlements in subsection (1), the pension benefits and other benefits shall be reduced in the manner prescribed under the Pension Benefits Act. O. Reg. 775/91, s. 23.
Miscellaneous
31. Revoked: O. Reg. 591/98, s. 20.