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HomeMy WebLinkAbout1689A by-law to amend by-law 1489 a GROUP Al. NUIT Y FL N for the employees of , C oj*V0 rat,ioa of the r ovm of BoTil.l.e 1. DaINIf IOT S In this plan, unless the context otherwise ,requires,. : ( ) "ELTL0Ya means (b) "EMIW 3E" means any salaried officer, c ler' k', worlc sari, servant or of er person in the employ of the municipality or of a local board and inc ludo s any person de s i ;na wed a s F n oraployee b� the Zuni suer of I!! micipal Lffairs of Ontario; (a) "PRESElr EM'r'IAYL means an employee in the service of the' employer prior to the effective dat� of the plan; ; (d) "FUTURE MOLOYEL" means an emplo;•ea who enters the service of the employer on or after the effective date of the plan; moans an,'employee who, in a year, serves at least the equivalent' of 7&0 of, the year; (f) " 3ER" means an employee who is a participant in the plan; (g) The masculine pronoun shall include the feminine; (h) "SERVICE" means the 'exercise of an office, function or occupation' with the _ employer ; (i) "FUTURE SIMVICE" means service rendered with the employer on or, after the - effective date of the plan; { j) "GOVLRT.WW" means the Annuities Branch of the Department, of 'Labour. of t e Government of Camda; (k) "I113t�ITCE C012AITY" means such Insurance Company licensed under the' nsuranco Act of .the ' Province of . Ontario as nay be designated by the employer; .) "11A.N" means the group annuity. pian hereimftor set out. _ _.. M.. -_ EFFECT IVE MT ,e _ v...t. a..u...,. •_..;,,,s.,,,I.,. .f._.... -.. ,,•'. "' _.. rvs....., ...:,u.r�.,vauu :amw.u.m- nwora o,.:rwK... i - ...., - -. s.v.......,- • T hi s p1(in will. bid' ' e f f e dive as of 3.. LLIGIB ILIT Y AND I31,.RT IC IPAT ION . r r. ,.. Each present employee may elect to participate ..in .the plao: as of ' its effective date provided that he has . then fulfilled the, eligibility conditions, which are as follows e (i) T ha 110 is a � ©r,,►a:lent eiti-Joyce. � - I That lie .-as atta died the a -% W. 21. .la=; 1110 ►-1: a co ahlotod 3i.-.: '101it" L o:' coxit �:�•aotits' , serv- e s net atta Lied nori.:a.1 retitoL.« t a60, A P, R. 0 V E---. D D4,0 . llj nrati�tr�'�,t�i.i#uiv irrnrir.r� . " ". .,, i,l.. .r. 1.er,...rfrr •..ya ,. s .:.�syw,w..w. ... .:.. .. .., .... .. ., , rl- it{#' riiiNi�A�yd- �- /dfw�n;a4?,9it i$li�.>,'h•,Y vij. lrt41�7i1��Y{ ��` d3V1Y�tsYiMY�d '�i#I^l',1:daft.l >c . s �,§,.. �s � �k � ire �St' s�� �• � Y4::. �� � .I,�Ib r,�;+�- r�.z.�e t, - fi ��.�» t - s apt s b ' cll „r,_,a ,'Jt ��✓ Ci.1 -i� '�� _LC�.� 'i i' .tili r.,'�. 1: C a' •. V 1 �L.�v �.i .�.� .'� ' L -., j .E �;� Oct ive date of the plan riay elect to participate on the fulfilment of the eli -ibility conditions described in subsection (a.) of this section. (c) Each present em•)loyoo who does not oloct to partic ipato from the date on byhich he becomes eligible Tray do 'so at a lator date. r, (d) All male future employees with the 'Police and :'ire Dofpartr�ents years Qf age And under, and all other future employees, will be eligible to participate and must, as a condition of cr I)loyment, become r bers of the plan on the fulfilment of - the eligibility conditions described• in subsection (a) of this section. (e) An employee who leaves the service of pie cnj,loyer to' becoL--:e V,. L. -ember of Her l:ajestyt s - forces prior to the effective date of tho Galan or prior to becoming eligible and ;,;ho returns to service will be eligible to participate in the plan on the first day of the month following his return to servico rind the fulfilment of the clil;ibility conditions described in subsection (a) of this section. 1(f), A member cannot withc:raw from participation in t1he Man rrUle lie ' is in the service of the employer and under retirement ago, , and a former employee re- entering the service of the employer after previous termination of s6rvico. rrill be considered a new employee. r • BIT T E RET III ET'1;h'T a The norm ( ) o mal retirepient dame, of a member Vrnll be the first day of the month imanediately following the •attainment of Hernial retirenent age which is as follol =ors = VMM 6 1 r (i) Female EIi: to ee and hale Employees with the Police and Fire De ts. Abe on becoming a nenj ber Normal Retirement Age Ago 55 and under 60 Abe 6 Yea!• 5s r 157 • 62 n 4�8 8 58 63 59 E4 fi 60 and over . 6 5 _ . Fire "Male Employ ees. exoe t those..With the PolZae..and on becoming .a Normal Retirement .. ...... ... .. .... ... ,r... '.y .. „_..,, ...,. ,. :.,... .., .,. ,.... ... .,. _.., .,.. :., �...:.,,, .. !__.e _, , 0..1,�wx a-n..i ,..w...r,,.ua.�.:r.,.aw'un;vt nor:. r......- ......., ... ., ..,__..>",,., ....... ., ,: ., .. ._. .. ,. �,... r..,, ... > „a nr�, . h.. r-. ,.d.,nn..,..+�,,.:...,r.,•,.,�: _ j f e fits and under 65. «r wnsb.,... ,, ...,, 61 66 62 67 63 Oil, 68 ; 64 65 and over 70 ' (b) A member may be retired -at any age on the .first day of 'any mouth for. reasons of sickness or disability which have been established by medical evidence satisfactory to the employer and the annuity thereupon payable will-be on a reduced scale such as the funds standing to his aredit together with interest thereon will then purchase. ; , ' , • . .r • . r i _ 1:, , 1 ,. , � fir, r , r! r ! FS VMM 6 r ' r VMM 6 1.#M , . H. ,..'F^ :•s s, - tL= ..? ,.vr•. .. 3 s ; T z =py ' s' ,, ' ..i- °a '.'" "...:e a ; „ �tE =..3 x .ut7. t y. -- `f#' k , i° 7 -:S,r« n � ; `,,. -«E ; •° ;'; ' -' . . :i p ? 1 r ' Ar 5+ RKIRI'' tT I.Nr,l 1ITY ­(a) Subject to the terms of the plan, each member will reoeivo from the dote of his retirement the Annuity purchased-by his oven contributions and those made on his behalf by the employer, to o-L-hor vrith interest thereon. (b) The annuity, which will be payrible in monthly instalments for life and L;uLranteod for f ivo years in any event, will be purchased from the Govermnont up to the r .xirnum ob to ins Ule from thy''; sourc© on the life of each moraber and the excess over such ma.xirriu -m fron the Insurance Company. (a�'r (i) At any time before retirement, r. nember may choose in [ place of tho annuity guaranteed for f ive years, one which will be guaranteed for ten ;oars or one which will be without any F;uarantee or a last survivor annuity, in which event the amount of annuity will be actuarially r , adjusted. ! (ii ) A nemb ©r iiny at any time before the. annuity becomes payable revoke an eloction ,of an optional type "of . Y previous annuit or substitute another election for ' election. (d) (i, Provided that a Member 'has not chosen the last survivor type of annuity, he nay elect that the terms of payment of the annuity be filtered to provide for an arnuit,11, the amount, of which would increase durinC, the interval betvioen his retirement date and a,-;e 70 and thereafter - decrease by., s: $40.00 a month. (ii) If such an option is made and ;the s,nnuity that would be f ��able on and after' the time .agreed a 'reed u on for its reduction pa g P would be less than $10.00 a Meer,' and the election is not :,• "reuokod bei'orQ the date on which the annuity becomes payable` t " the member will then receive, in lion of the reducing annuity ,. described in parabraph (i) of this subsect ion, a ternpore.ry 4 ='' 4 annuity which will cease -vrith,his death or are ?C, ' chever first occurs. (iii) This election will not apply when a member retires or is - _ retired before the atta.irunent of a�;e 550 If, at the time of his. retirement, the funds at the credit of a member are not sufficient to urehase ursuant to such o tion ry; u i r r .x.,nl r rn,r„w I. lfi,hY,:rr.. A.ln rnr,M r. r.rll ,. r r, nr.n '.n :•„ :' A. i• t .. r r ,:, •:• r, ., .. ,. ,: ! 1, .. .... as are available to hiia, an annuity on his life of 1120 commencing, at his normal retirement date, the said member raay . surrendor his rights to receive an annuity in consideration o single _nryment being; made to him of a sum not less than his = contributions together with such interest, if any, � s may be creel x thereon. B CQIC RIBUT IONS {a) (i) Each member will oontr ibute 5f of his earnings, from the x date of his inclusion in the plan. r ' (ii) The employer will contribute on behalf of each anember 5% of the member* s earnings from the date of his inclusion ,• t in the plan. ph d , r' 4 , ' r 3 r r f I , , s r r + r VOLUME b '(iii) Each member who does ' not elect to pay in res pact of service r©ndered during tho yoars in which he tivas not a contributor, as provid ©d in subsection (b) of this section, nay pay an additional contribution in respect of future service provided that it shall not exceed the percentage of Jiis remuneration, in relation to the nwlber of year ^ of future service to his normal retirement date, as indicatod in the following table: Nwnber of Years from Date axi;num Percentage of Entry into Plan' of ilclditio.nah Until lk)r'mal Retirament. Date Contributions 36 40 li 31 - 35 h 26 - 30 21 - 25 6/a ; 20 and under 10' (iv), The contributions of it member gill be deducted from his ­1 ea'rninGs by the ' employer and remitted to the Government or - the Insurance Company at the end or each quarterly period It ether with employer contributions for the sane period: A nember who does not elect to pay additional contri� >uLions in respect of future service, as provided in paragraph (iii) of subsection (a) of this section, may, if he so desires, elect to contributions for his ear f s ' �y years o service in 1v�-�a.ch he wm s not a r contributor. Such contributions rna yT not exceed 3f of the member's earnings with the employer prior to the date of his, inclusion in J the plan. Such 'contributions may be made through the employer at any time or from time to tixae before the member" s retirement date. (c) If the. contributions wade by and on behalf of a member become A ;{ n sufficient, before his retirement date, to purchase the maximum A¢ x annuity available to him from the Goverruient, no further contribu j ' r will be , payable to the Government by the member or by the emplp y .r on his behalf. Thereafter contributions will be remitted to 't y Insurance Company until the member retirese J _ 7 T EM'; IW.T ION OF SMV ICE (IN" (R� r ,If y _ , , ' V} for an reason other than death the service of a rn© s . tuber i , - - - -- - terminated prior to his normal ret i reLlent age, the total of hi - -- r own contributions togothc;r with -tho total contributions _nade_ on his - - = -- 4 behalf by the employer, with .interest thereon, shall rer,a in at his r ..k ... ,'..,.. „ r.l•,/::rkf..IDiI'i1N.... bN1Af,,iJH, fxNNl rll. r /itir: , , .rte ,:.-- ..,,.:.� -..,:. .. ..,.,, ..! ., y�..:. ,.A':. ,.n : "r..fM,,rlrf.i.M r,!to tn'M;'n /•;':.I.v.:.'.. dtodit tvlth the Government to � 'rovido' him, oomr'�ena� n�;` at retir6,.ie t .: -- - ,� date, with the annuity purchased by the said contributions with , interest thereon and he shall receive a paid-up policy providing for such annuity. (b) If at the time of such termination of service, the funds at the credit of a member are not sufficient to purchase, pursuant to such options as are available to him, an annuity on his life of $120.00 } a year eoituneneinj; at his normal retirement date, the said member my surrender his rights to receive an annuity in consideration of a sinGlo payment veiny made to him of a suia not loss than his own oontribu•L-ions toy ether - i.th such interest if any, as jiay be credited x thereon. Ji FS pop , • i , r J e t u n n 41 l4 "rii7+M7? /ITN6PFB{•,,LL4 ,,A`d:Zi f1 •',, ivJC J 3Jy r - „f, 3+1i 1 �,Jk4�� .�.rls t<; SBi4 :f���li�sJP�lmtyAUAI�fA,:t w $N, $'S y, 8. TRAWSFER OF FUNDS BY II SM110E CO Where a immb e r of s {i) the civil service of "Ontario or Canada, { ii) the civic service of any other rmnicipalitL; or " loeal `board, or {iii) the' staff of any board, - conniss ion or public institution established under any pct of ' Legislature., on or after the list, of Larch, 1943, has become or bocomes an employ ©o of the municipality or local board and a sum of money is transferred: . from, any fund or plan maintained to provide superannuation benefits or pensions f or the member 'of sue h c iv it or c ivic service or staff, as. the case r -ay be, to the, credit of the enployee, the council shall by by -law authorise the transfer into and shall transfer into the pens ion elan' heretofore or hereafter established , under this or any - other general or special Act, and applicable to the employoe . such sum in the like manner as a payment for past service r. 9, DEa "3 H BE17. 'FIT S BEFORE RET IRE1, M Nr s -- - - : - -- -- - Should the death of a member occur before the first .instalment of his a becomes able whether or. not he is in the service .,of the annuity 4 payable, employer at the date of his death, the total of his •awn contributions and of the contributions made on his behalf b -• the �riployer shall be paid, vrith interest, to his beneficiary. y (b) MT R::T II�EI:12 s � r t y� 7/e b , apse, a b'er occur after the f first instalment of his Should the death of riem annuity has become payable and before sixty (60) monthly instalments ,•' have been paid, the annuity paSments will be continued ' to his benef is iary� until the .sixty (60) monthly instalments have been paid. f° ` an opt t o of annuit the `t r, However,, if a memb e'r has elected P yp y , '� • , death benefits, if any, will be deterxlined aeeordin;ly.:{ 10; AB SEPICES FRO19 MORK Authorized absences from ►fors shall not constitute tern +zimt on ..of mp .oyxment- ,:.. ,... -_ - .,,_....for purposes of this - S- -but will be governed as - -TVl� .- o�rrs -t- -� - - (Q) If the member receives 1-AY, contributions r^rill cor_tinhc and 1,1a will be entitled to all, benefits as though he -were actually at work. (b� If the i iemb-er does. not receive pay, contributions will cease but any benefits previously purchased will not be affected. Upon xeturn to active service, 'contributions will be resumed. 11 LIIJITAT IOIJ OF LSSIGI rihNT (a) Retirement annuity and other benefits under the plan are not . assi�nab'le. , . • (b) A member xray not borrow s ainst the aontr.ibutione at his credit under the plan. tai A member may not withdraw the contribht' one at his, credit under the plan except as provided in subsection (e) of section 5 and sub sect ion (b) of section 7 of this plan. • 1 3 • 12: R IGBr TO F.1OLOrL 'NT B MTEF ITS Part icipation in t`i© plan Vil11 not give any morlber the riL;ht to be retained In the service of .tho employer or any right; or claim to rotiroment 'benefits unless the right or claim to such benefits has specifically accrued under the terms of this plan, s t s A W---, REOULT IDES UN M T HE ILEX EVIDEITCO OF M11-MERSH31P Each member will receive" evidence tha' ho 11as been included as a member of, the plane. 20 IMOOF OF : `E (a) At the time of joining the elan or as soon thereafter as possible a. member ~,rill furnish proof of the date of his 'birth in the form of a, birth or baptismal certificate. , This certificate will be returned to the member, (b) If a birth or baptismal certificate cannot be obtained, the member will furnish such other document in proof of his age as my be ­yl acceptable to the Government or the 1nsurance Company. 30 131 ML T IC 11,R Y 0 f the-plan may,,, .with ,the concurrence", Each employee n beooming a, member of of he Zovermaent a nd/or the Insurance Company., designate any person as 't his beneficiary to receive such sums as may be payable on or after his death., reserving the right to c ha nb e the beneficiary from time to time with the assent of the Governmont or the Insurance Company.* If, on the death of the member, there should be' no living designated beneficiary with respect to himself, such sums as,would otherwise, be payable 'to his desig- nated beneficiary ' al ll'be payable to the legal representatives of the 40 TERMINATION OF 'BERNhCE A.member shall "be deemed to have f iri6lly terminated his,services 4hen,, in the opinion of the "employer; he has terminated his employment 'With- out reason to believe that he will be further employed. 510 SUSPE11TISION OF SERVICE . .......... A member shall ...... I'll, -be deemed to suspended his service when he is 'temporarily off duty -%r rdthout, pa for any reason other than on accouiat of illness or accident except as otherwise provided 'herein or in the plano 6 SERVICE TO COUNT TOMRDS EMILOYMIS. SHARE OF RE MELNUVAPINUITY In computing a nember,ls period of service towards the employer's share, provkILA etirement­­atirWity he tp11bwinP,,­rqru1 tions .... ... ...... Service to be includeds (a) All time worked with any or all departn. ents of the employer or all time worked and paid or contributed to in whole or in part by the employer. (b) :All time lost on account of absences for reasons of illness where a member is paid for such absence.. (a) All time lost on account of absences for reasons of illness where a member is not paid for such absences but is considered as being on sick leavo* (d) All time lost on account of' sea son lay-offs where a member i, a not o paid for suoh absenoes but who qualified as permanent employee. 7e, DIS&BILITY Disability, an set out in the plan, shall be interpreted to mean that a member -has furnished me , dioal testimony, satidfactory to the employer, that he is amble to continue further at his employment. TOLUM19 6