Loading...
HomeMy WebLinkAboutBy-law 1814/84THE CORPORATION OF THE TOWN OF PICKERING BY-LAW NUMBER 1814/84 Being a by-law to authorize Supplementary Benefits under the Ontario Municipal Employees Retirement System WHEREAS under an agreement dated June 18, 1976, of the Town of Pickering elected to participate Municipal Employees Retirement System; and the Corporation in the Ontario WHEREAS pursuant to Section 23 of the Regulation made under the Ontario Municipal Employees Retirement System Act, R.S.O. 1980, as amended, an employer who has elected to participate in the System may enter into an agreement with the Ontario Municipal Employees Retirement Board for the payment of supplementary benefits in respect of all or any class of the employees or councillors who are or become members of the System; NOW THEREFORE, the Council of the Corporation of the Town of Pickering HEREBY ENACTS as follows: The Mayor and Clerk are hereby authorized to execute a Supplementary Agreement in the form attached hereto with the Ontario Municipal Employees Retirement Board for the payment of the supplementary benefits provided in the Supplementary Pension Plan set forth as Schedule 1 to the Supplementary Agreement. e The Clerk is hereby authorized to do such things as are necessary under the Supplementary Agreement and to carry out the intent of the by-law. Two certified copies of this by-law shall be filed with the Executive-Director of the Ontario Municipal Employees Retirement Board. This by-law shall come into force on the day of its passing. BY-LAW READ a first, second and third time and finally passed this 2nd day of April, 1984. Clerk ONTARIO MUNICIPAL EMPLOYEES RETIREMENT SYSTEM SUPPLEMENTARY BENEFIT AGREEMENT ............... THIS AGREEMENT made this day of ,19 BETWEEN: THE ONTARIO MUNICIPAL EMPLOYEES RETIREMENT BOARD (hereinafter called the "Board") - and - THE TOWN OF PICKERING (hereinafter called the "Employer") WHEREAS this Supplementary Benefit Agreement (hereinafter called the "Agreement") is made pursuant to section 23 of Ontario Regulation 724, R.R.O. 1980, as heretofore and hereafter amended from time to time (hereinafter called the "RegulatioW') being a regulation made under the Ontario Municipal Employees Retirement System Act, R.S.O. 1980, chapter 348, as heretofore and hereafter amended from time to time (hereinafter called the "Act"); AND WHEREAS under subsection 21(7) of the Regulation prior service agreements entered into under subsection 21(1) shall be terminated as of December 31, 1982 and the funds held thereunder transferred to a supplementary agreement; AND WHEREAS subsection 23(7) of fha Regulation provides that a supplementary agreement in force on December 31,1982 shall be deemed to be amended as of January 1,1983 until such time as it is amended in fact, to accord with the form and content of the supplementary agreement approved by the Board under subsection 23(3); AND WHEREAS the form and content of this Agreement has been approved by resolution of the Board dated November 18, 1983, as required under subsection 23(3) of the Regulation; AND WHEREAS for an employer who had a supplementary agreement in force on December 31, 1982 which continues to be in force as of the date hereof, this Agreement shall amend such agreement effective January 1, 1983, and otherwise this Agreement shall be effective as of the Plan effective date as defined in the Plan. NOW THEREFORE in consideration of the mutual covenants and agreements herein contained, the Board and the Employer do convenant and agree: 1. Words and phrases used in this Agreement and in Schedule I hereto which are used in the Act and Regulation shall, unless the context in which they are used clearly indicates a contrary intention, have the meaning given to them under the Act and the Regulation, and (a) "covered member" shall mean a member of the System to whom the Plan is applicable; (h) "Plan" shall mean the Supplementary Pension Plan which is attached hereto as Schedule I and which forms part of this Agreement; and (c) "Plan contribution" shall mean all amounts paid or payable by either the covered members or the Employer under this Agreement to provide the benefits of the Plan including amounts which are to be transferred to the Plan from a predecessor plan with respect to benefits provided under this Agreement, together with the Board's administration fee of one per cent of all such amounts. 2. Benefits payable under this Agreement in respect of a covered member shall be as set out in the Plan. The Employer shall provide each covered member with either a written explanation of the benefits and terms and conditions of the Plan as amended from time to time, or a copy of the Plan and any amendments made from time to time. 4. The executive-director shall determine whether or not a benefit is payable and the amount of any benefit that is payable under this Agreement. 5. The Board, on the advice of the actuary, shall determine the Plan contributions paid or payable under this Agreement and the Employer shall pay or cause to be paid to the Board such Plan contributions in the amount and manner set out in the Plan. 6. Section 18 of the Regulation shall apply to contributions of the covered member paid to the Board by the Employer under this Agreement. 7. Subject to the provisions of applicable federal and provincial rules and regulations, upon determination at any date by actuarial valuation that the value of the assets of the Plan is in excess of the amount then required to satisfy, or to provide for, all Plan liabilities with respect to the covered members and their beneficiaries accrued to such date, such excess may be used to reduce the Employer portion of Plan contributions otherwise required under the Plan or may be used or applied in such other manner as the Board and the Employer shall mutually agree. 8. Notwithslanding anylhing in this Agreement, the provisions of the Pension Benefits Act, R.S.O. 1980, chapter 373, and the regulations thereunder, all as heretofore and hereafter amended, shall prevail in respect of this Agreement and the Board shall provide the Pension Commission of Ontario with such information and calculations as may be required under such Act and regulations. 9. The Employer shall provide the Board and the Board shall provide the Employer with such information as each may require from time to time for the due administration of this Agreement. 10. The provisions of the Act and the Regulation shall, except where otherwise specifically provided for herein, apply to the provisions of this Agreement and to the Plan to the same extent and with the same effect as would be the case if the provisions of this Agreement and the Plan were set out in the Regulation. In the event there is any conflict or inconsistency between the provisions of the Act and the Regulation and the provisions of this Agreement, the provisions of the Act and Regulation shall govern. 11. Reference herein to sections of the Act and Regulation or sub-divisions thereof include successor sections or sub-divisions thereof which may be enacted from time to time. IN WITNESS WHEREOF this Agreement is executed by the parties hereto under the hands of their respective officers lawfully authorized in that behalf and the corporate seals respectively as of the date first written above. FOR THE EMPLOYER: FOR THE BOARD: Executive Dircclor (SEAl.) FULL TYPE 1 SCHEDULE "1" TO THE ONTARIO MUNICIPAL EMPLOYEES RETIREMENT SYSTEM SUPPLEMENTARY BENEFIT AGREEMENT PART A ONTARIO MUNICIPAL EMPLOYEES RETIREMENT SYSTEM SUPPLEMENTARY PENSION PLAN Each member of the System employed by the Town of Picketing (hereinafter called the "Employer'~ who are members of the Fire Fighters Association, each hereinafter called "the class") shall be covered under this Plan on the later of the Plan effective date or the date the member becomes part of the class. Words and phrases used in this Plan, which are used in the Act, Regulation and Agreement, shall, unless the context in which they are used clearly indicates a contrary intention, have the meaning given to them under the Act, Regulation and Agreement, and (a) "Agreement" means the Ontario Municipal Employees Retirement System Supplementat~ Benefit Agreement of which this Plan forms Schedule 1, Part A; (b) "continuous full-time service" means employment on a continous full- time basis as defined in subsection 7(5) of the Regulation; (c) "Ran effective date" means January 1, 1983 and the Plan year shall end on December 31st of each year thereafter; (a) (b) The Employer shall pay or cause to be paid to the Board Plan contributions in the amount and manner and upon such terms as the Board may from time to time require by written notice from the Board to the Employer. No Plan contributions made by a covered member shall be withdrawn in whole or in part, while the covered member remains a member of the System. Man contributions are due in the office of the Board on the date provided in such written notice to the Employer. Plan contributions which are not received by such date will be subject to an additional interest charge determined by the Board based on the market fund rate of interest applicable to the year in respect of which the Plan contributions are due. ~an contributions received by the Board shall be con~ningled with and form part of the Fund and be invested and otherwise dealt with in the manner provided for in the Act with respect to the Fund. The continuous full-time service of a covered member with the Employer prior to the Employer's effective date of participation in the System shall be deemed to be credited service. Such deemed credited service shall include service with the Township of Pickering as a predecessor employer; -2- but shall not include (i) service for which contributions made by the covered member under section 9 of the Regulation or under an approved pension plan have been refunded; and, (ii) service for which the covered member was entitled to make contributions under section 9 of the Regulation or under an approved pension plan but chose not to do so; and (iii) service prior to which contributions made by the covered member under section 9 of the Regulation have been refunded. Where the service of a covered member is deemed to be credited service under clause 5 of this Plan, the pension calculated in accordance with section 12 of the Regulation shall be reduced by the annual normal retirement pension (as of December 31, 1982 or the Plan effective date, whichever is later) to which a covered member is entitled under an approved pension plan of the Employer, excluding the annual amount of any pension purchased by voluntary contributions made by the covered member under an approved pension plan. SCHEDULE "1" TO THE ONTARIO MUNICIPAL EMPLOYEES RETIREMENT SYSTEM SUPPLEMENTARY BENEFIT AGREEMENT PART B ONTARIO MUNICIPAL EMPLOYEES RETIREMENT SYSTEM SUPPLEMENTARY PENSION PLAN Each member of the System employed on January 1, 1980 by the Town of Picketing (hereinafter called the "Employer") as Fire Management and listed in Appendix A attached hereto, shall be covered under this Plan on the ~an effective date. Words and phrases used in this Plan, which are used in the Act, Regulation and Agreement, shall, unless the context in which they are used clearly indicates a contrary intention, have the meaning given to them under the Act, Regulation and Agreement, and (a) "Agreement" means the Ontario Municipal Employees Retirement System Supplementary Benefit Agreement of which this Plan forms Schedule 1, Part B; (b) "continuous full-time service" means employment on a continous full- time basis as defined in subsection 7{5) of the Regulation; (c) "Plan effective date" means January 1, 1983 and the Plan year shall end on December 31st of each year thereafter; (d) "Plan average earnings" means the average annual contributory earnings of a covered member during the five years January 1975 to December, 1975 inclusive, received by him in respect of his Plan credited service but excluding any contributory earnings in respect of optional service. (a) (b) The Employer shall pay or cause to be paid to the Board Plan contributions in the amount and manner and upon such terms as the Board may from time to time require by written notice from the Board to the Employer. No Plan contributions made by a covered member shall be withdrawn in whole or in part, while the covered member remains a member of the System. Plan contributions are due in the office of the Board on the date provided in such written notice to the Employer. ~an contributions which are not received by such date will be subject to an additional interest charge determined by the Board based on the market fund rate of interest applicable to the year in respect of which the Plan contributions are due. Man contributions received by the Board shall be commingled with and form part of the Fund and be invested and otherwise dealt with in the manner provided for in the Act with respect to the Fund. The Plan credited service of a covered member shall be that part of his continuous full-time service with the Employer prior to the Employer's effective date of participation in the System. Such Plan credited service shall include service with the Township of Picketing as a predecessor' employer; -2- but shall not include (i) service fo)' which contributions made by the covered member under section 9 of the Regulation or under an approved pension plan have been refunded; and. (ii) service for which the covered member was entitled to make contributions under section 9 of the Regulation or under an approved pension plan but chose not to do so; and (iii) service prior to which contributions made by the covered member under section 9 of the Regulation have been refunded; 6.(1) (2) (3) A supplementary pension is payable under this Plan to a covered member who retires on or after his normal retirement date and shall be equal to 2% of his Plan average earnings multiplied by the total number of years and part of a year of his Plan credited service up to 35 years, reduced (a) when the covered member becomes entitled to a pension under the Canada Pension ~an by 0.?% of the lesser of such Plan average earnings or $10,467, multiplied by the total number of years and part of a year of his ~an credited service after the 1st day of January, 1966 up to 35 years, and (b) by the annual normal retirement pension as of January 1, 1980 to which a covered member is entitled under an approved pension plan of the Employer, excluding the annual amount of any pension purchased by volunta~ contributions made by the covered member under an approved plan. The amount of supplementary pension under this Plan to the credit of each covered member on the ~an effective date and payable on the covered member's normal retirement date shall be as shown in Appendix A attached hereto. A supplementary pension payable under this Plan is payable coincident with and under the same terms and conditions and subject to the same limitations as the covered member's pension under section 12, 13, 14, 15 and 16 of the Regulation.