Document ID: chunk:federal_register_of_legislation:F2008B00485:body:0:p2
Version: federal_register_of_legislation:F2008B00485
Segment Type: other
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Character Range: 2999–6090

of 60 days from the day that the Assistant Secretary receives the required advice or any lesser period agreed to in writing by the Assistant Secretary.

   4. The list of employers in schedule 2 may be amended by the Minister for Finance from time to time.

DIVISION II: REPORTING PROCEDURES

   5. Each year after the end of the employer's "reporting period", such reporting period being the same period as for the employer's Annual Report, an employer operating its own superannuation scheme or other superannuation arrangement must provide the following information to the Minister for Finance in its Annual Report or in a written statement signed by the employer, such statement to be provided before the expiry of a three (3) month period after the end of the "reporting period":

      (a) whether the employer has throughout the reporting period satisfied this and the preceding requirements in this Part 1, and the extent of and reasons for, any non-satisfaction;

      (b) whether all the employer's superannuation arrangements provide superannuation benefits from "fully-funded funds", and if not:

        (i) which arrangements are not fully-funded; and

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        (ii) why they are not so funded;

      (c) details of all material changes during the reporting period to the superannuation arrangements of all employees including but not limited to the establishment of any new superannuation arrangement for more than one employee;

      (d) for each superannuation scheme in which the employer participated during the reporting period:

        (i) the name of the scheme;

        (ii) the number of employees covered by the scheme;

        (iii) whether the nature of the scheme is:

           (A) a cash accumulation scheme;

           (B) a defined benefit scheme; or

           (C) a combination of (A) and (B);

        (iv) whether the benefits paid in respect of each scheme were by way of:

           (A) lump sum;

           (B) pension; or

           (C) a combination of (A) and (B);

        (v) the cost to the employer of the superannuation scheme for the following categories of employees to be expressed as a percentage of the average salary for superannuation purposes in the respective categories:

           (A) senior executive management, including people who are primarily accountable to the Board of the employer;

           (B) other executive management, including people who are primarily accountable to the senior executive management of the employer;

           (C) clerical and administrative, including people whose duties are clerical or administrative and may include professionals;

           (D) all other employees, being people not covered by (A), (B), or (C) including but not limited to light manual, heavy manual or technical workers; and

     unless the employer has been advised by the Minister for Finance or the Department of Finance that a report on the following matter is not required,

        (vi) whether the invalidity retirement rate exceeded the prevailing rate of