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Amendments to Canon VIII – General Synod Pension Plan

http://archives.anglican.ca/en/permalink/official9759
Date
2010 June 3-11
Source
General Synod. Minutes
Record Type
Act 47
Date
2010 June 3-11
Source
General Synod. Minutes
Record Type
Act 47
Mover
The Rt. Rev. Philip Poole
Seconder
The Ven. Ronald Harrison
Text
That this General Synod approve the amendments to Canon VIII as approved by the Council of General Synod by deleting the underlined portions and adding the bold portions as shown on the attached copy of the Canon.
CARRIED Act 47
Notes
The text of the amendments to Canon VIII, presented as Appendix A to the resolution, follows:
Underline indicates deletion, bold indicates addition [In electronic database bold indicated by pointed brackets i.e. and underline indicated by curly brackets i.e. {}]
1.b)ii) "Bishop" means the Bishop of any Diocese of The Anglican Church of Canada,
4.b) To make and amend Regulations establishing the terms of the Pension Plan and the Long Term Disability Plan and providing for the administration thereof, subject to the approval of the Council of General Synod. {These} Regulations shall be {become} effective from the date {of approva}l by the Council of General Synod and shall remain in effect until the next session of the General Synod {at which time} they will cease to be in effect unless confirmed by the General Synod. The general principle to be observed when considering matters relating to the Long Term Disability Plan shall be the maintenance of a rate of contribution, paid by Members or by Participating Employers where so provided by applicable Regulations, adequate to support the benefits and the establishment of appropriate amounts reserved or retained in respect of claims, whether or not known to the Pension Committee.
Subjects
Anglican Church of Canada. General Synod. Constitution. Canon VIII
Pensions - Anglican Church of Canada
Less detail

Amendments to Canon XII and the Regulations – Continuing Education Plan

http://archives.anglican.ca/en/permalink/official9760
Date
2010 June 3-11
Source
General Synod. Minutes
Record Type
Act 48
Date
2010 June 3-11
Source
General Synod. Minutes
Record Type
Act 48
Mover
The Rt. Rev. Philip Poole
Seconder
The Ven. Ronald Harrison
Text
That this General Synod approve the amendments to Canon XII and the Regulations effective January 1, 2008 as approved by the Council of General Synod by deleting the underlined portions and adding the bold portions as shown on the attached copy of the Canon and the Regulations. [In electronic database bold indicated by pointed brackets i.e. and underline indicated by curly brackets i.e. {}]
CARRIED Act 48
Notes
The text of the amendments to Canon XII and the Regulations, presented as Appendix A to the resolution, follows:
a) There shall be a plan to provide resources for continuing education of the clergy and lay persons who are employed by dioceses and other employers who are affiliated with the Anglican Church of Canada. The sole purpose of the Plan is to provide education or training for such clergy or lay persons in order to improve their work or work-related skills and abilities.
b) The plan shall be called the 'Continuing Education Plan of The Anglican Church of Canada' and is hereinafter referred to as the Continuing Education Plan. or the .Plan.
c) The Administrator of the Continuing Education Plan shall be the Pension Office unless the Pension Committee determines otherwise.
2.
a) {Those} participating dioceses and {other} employers {referenced in section 1.(a) above, that are assessed under paragraph 2(b) above shall be .Members. of the Continuing Education Plan and shall be subject to the provisions of Canon XII and its regulations.}
b) {No clergy or lay person is eligible to be a Member of the Plan.}
a) There shall be a fund designated as the 'Continuing Education Fund of The Anglican Church of Canada', hereinafter referred to as the .Continuing Education Fund. or the .Fund., for the purpose of providing benefits in accordance with the regulations. {approved by the Council of General Synod.}
b) The Continuing Education Fund shall be funded by the Members.
4. {Accounts}
a) {Bishops and members of the} Clergy who are on the register of a {diocese participating} {in the Plan}, may have an account {recorded} with the Continuing Education Plan {in order to monitor} contributions to the Fund, in respect of {a particular} clergy person and payments made for {his or her} education or training.
b) Lay {workers} in paid employment of a Member, upon application by the lay person and the employer, may have an account with the Continuing Education Plan {in order to monitor} contributions to the Fund in respect of {a particular} lay person and payments made for his or her education or training.
c) Persons who become eligible for an account with the Plan after reaching sixty years of age may choose {not} to have such an account.
d) When an employee ceases paid employment with a Member, the account will be frozen for a period of {2} years. {In the event of return to work for a participating employer} within {2} years {of ceasing participation, his/her account will be reactivated at the level it was upon leaving. After 2 years, a return to work will result in} a new account {being} .
e) {When an employee retires, he/she is no longer} eligible to make claims under the Plan, unless {continuing} to work in some capacity for a {Participating Employer.}
f) {Each} account {originates} on the first day of the {any} month. {An applicant becomes eligible for an account at the beginning of the first month} after {the date of the commencement of} continuous employment with a Member.
a) There shall be a Continuing Education Plan Administrative Unit responsible for the operation of the Plan, subject to the authority of the Council of General Synod. It shall report to the Council of General Synod through the Pension Committee.
b) The Continuing Education Plan Administrative Unit shall consist of:
- i) the Executive Director of the Pension Office Corporation; and
- ii) representatives of five Members of the Plan appointed by the Pension Committee at its first meeting following each regular session of the General Synod and as vacancies occur.
c) The functions of the Unit shall be: to advise the Administrator on matters of policy; to authorize payment of special and sabbatical grants, and expenses incurred in the administration of the Plan; and, from time to time, to propose changes in regulations to the Pension Committee.
d) The Administrative Unit may delegate authorization of the payment of special and sabbatical grants and expenses to the Administrator.
a) The policy and operation of the Plan shall be governed by the regulations appended to this Canon .
[Note in Margin beside Section 6. b)] Revised May 2008 Operationally effective Jan. 1, 2008 subject to General Synod’s approval in 2010
b) The Council of General Synod may from time to time alter or replace the regulations or any of them or make new regulations. The regulations or amendments shall be effective from the date fixed by the Council of General Synod and shall remain in effect until the next session of the General Synod when at which time they will cease to be in effect unless confirmed by the General Synod.
a) Members shall remit their assessments to the Administrator.
b) The Continuing Education Fund shall be held by the Trustees appointed pursuant to Canon VIII.
c) Payments out of the Fund for the cost of education or training of clergy or lay persons shall be authorized by the Administrator.
d) Withdrawals from the Fund for special and sabbatical grants and to defray expenses incurred in the administration of the Plan and the Fund shall be authorized by the Administrative Unit or the Administrator if so delegated.
- a) The assessments to sustain the fund shall be $450 per year from each member in respect of each of the Member‘s account holders.
- b) Assessments shall be paid quarterly and remitted within 30 days of the expiry of such period.
- a) A clergy or lay person may apply to the Administrator to obtain reimbursement for eligible education or training costs for his or her work, in respect of:
-- i) expenses for any continuing education program or course of study,
-- ii) the purchase of books or other study materials, or equipment,
-- iii) the purchase of computer hardware or software.
- b) An application for reimbursement must be approved by the applicant‘s bishop (or the bishop's deputy), or the director of the organization or department, as the case may be.
- c) The Administrator shall establish the form of application to be used under this section.
- a) Where the Administrative Unit approves an application under section 2, the reimbursement to the applicant will be paid to the extent of 75% from the Fund in respect of the applicant‘s account and 5% from the general assets of the Fund.
- b) The applicant shall pay the remaining 20% of the cost of his or her education or training.
- c) The Administrative Unit may:
-- i) suspend the operation of subsection a),
-- ii) reduce the percentage of a payment to be paid out of the general assets of the Fund if it determines that the level of the general assets of the Fund will not support the continued application of subsection a), or
-- iii) increase the percentage of a payment to be paid out of the general assets of the Fund if it determines that the level of the general assets of the Fund will support the increase.
- a) From time to time, as resources permit, special grants may be authorized by the Administrative Unit in addition to payments under section 2.
- b) Special grants of $300 or less may be authorized by the Administrator administrator in consultation with the chair of the Administrative Unit or the designate of the chair.
- c) From time to time, as resources permit, sabbatical grants may be authorized by the Administrative Unit for periods of full-time study of not less than eight weeks duration, after five years of eligibility in addition to payments under section 2.
- d) The Administrative Unit may establish:
-- i) guidelines to apply in considering applications for special grants and sabbatical grants, and
-- ii) the methods by which the Administrative Unit will consider and decide upon such applications.
- e) The Administrative Unit may delegate any of its authority under subsection a) or b) or c) to the Administrator.
- f) The Administrator may establish the form of application to be used for special grants and sabbatical grants.
Absence for continuing education from a parish or other place of employment shall be procured by the customary diocesan/organizational procedures.
a) The Administrator shall pay to those individual clergy or lay persons who were formerly members of the Plan the remaining amount of contributions made by such persons to the Fund as at December 31, 2007, after payment of approved expenses to December 31, 2007.
b) The remaining accumulated contributions from the Members shall stay in the Fund.
Subjects
Anglican Church of Canada. General Synod. Constitution. Canon XII
Continuing education - Anglican Church of Canada
Less detail

Amendments to Canon XII and the Regulations – Continuing Education Plan

http://archives.anglican.ca/en/permalink/official10372
Date
2013 July 3-7
Source
General Synod. Minutes
Record Type
Act 29
Date
2013 July 3-7
Source
General Synod. Minutes
Record Type
Act 29
Mover
The Rt. Rev. Philip Poole
Seconder
The Rt. Rev. Stephen Andrews
Text
That this General Synod approve amendments to Deed of Amendment No. 5 and the Trust Agreement of the Continuing Education Plan (CEP) as approved by the CoGS effective March 25, 2011. For text see Appendix B
CARRIED Act 29
Notes
Appendix B
CONTINUING EDUCATION PLAN
Changes to the CEP Trust Agreement and the Deed Amendment No. 5 are:
First Recital of the CEP Trust Agreement on page 2: The words “or former employment” have been replaced by “and/or voluntary, unpaid services”.
The Pension Office address and the list of the Trustees have been updated.
Subjects
Anglican Church of Canada. Pension Committee
Anglican Church of Canada. General Synod. Constitution. Canon XII
Continuing education - Anglican Church of Canada
Less detail

Amendments to the Long Term Disability Plan

http://archives.anglican.ca/en/permalink/official10373
Date
2013 July 3-7
Source
General Synod. Minutes
Record Type
Act 30
Date
2013 July 3-7
Source
General Synod. Minutes
Record Type
Act 30
Mover
The Rt. Rev. Philip Poole
Seconder
The Rt. Rev. Stephen Andrews
Text
That this General Synod approve the amendments to the Long Term Disability Plan as approved by the Council of General Synod by deleting the strike through portions and adding the bold portions found here: For text see Appendix C
CARRIED Act 30
Notes
For text see Appendix C in the General Synod Journal 2013
[Text of Appendix C NOT included in electronic database.]
Subjects
Anglican Church of Canada. Pension Committee
Insurance, Disability - Religious aspects - Anglican Church of Canada
Less detail

Amendments to the Long Term Disability Plan Pre-2005

http://archives.anglican.ca/en/permalink/official9763
Date
2010 June 3-11
Source
General Synod. Minutes
Record Type
Act 51
Date
2010 June 3-11
Source
General Synod. Minutes
Record Type
Act 51
Mover
The Rt. Rev. Philip Poole
Seconder
The Ven. Ronald Harrison
Text
That this General Synod approve the amendments to the Long Term Disability Plan Pre-2005 as approved by the Council of General Synod by deleting the underlined portions and adding the bold portions as shown on the attached copy of the document.
CARRIED Act 51
Notes
The text of the amendments to the Long Term Disability Plan Pre-2005, presented as Appendix A to the resolution, follows:
LONG TERM DISABILITY PLAN PRE-2005 DOCUMENT
Bolded text is new and strikeout is removed [Sic. Should read "bold indicates addition and underline indicates deletion". In electronic database, "bolded" text is indicated by brackets and "underlined" text is indicated by {} brackets.]
SECTION G.4 - PAYMENTS FROM THE FUND
The Administrator will authorize the payment from the Fund of the following amounts:
- (a) Benefits payable under the Plan;
{- (b) administrative expenses and fees incurred in the operation of the Plan and Fund including but not limited to costs incurred by the Pension Committee, the Administrator and the Trustees in the operation of the Plan, custodial fees related to medical examinations and advice, legal fees, actuarial and consulting fees and rehabilitation expenses;}
- {(c)} any taxes payable by the Fund under any law of Canada or of a province of Canada.
Subjects
Insurance, Disability - Religious aspects - Anglican Church of Canada
Less detail

Amendments to the Long Term Disability Plan Pre-2005

http://archives.anglican.ca/en/permalink/official10375
Date
2013 July 3-7
Source
General Synod. Minutes
Record Type
Act 32
Date
2013 July 3-7
Source
General Synod. Minutes
Record Type
Act 32
Mover
The Rt. Rev. Philip Poole
Seconder
The Rt. Rev. Stephen Andrews
Text
That this General Synod approve the purchase of insured contract and approve amendments to the Long Term Disability Plan Pre-2005 to implement these changes as approved by the Council of General Synod by adding the bold section. For text see Appendix F
CARRIED Act 32
Notes
For text see Appendix F in the General Synod Journal 2013
[Text of Appendix F NOT included in electronic database.]
Subjects
Anglican Church of Canada. Pension Committee
Insurance, Disability - Religious aspects - Anglican Church of Canada
Less detail

Amendments to the Regulations of Canon IX – Lay Retirement Plan

http://archives.anglican.ca/en/permalink/official9762
Date
2010 June 3-11
Source
General Synod. Minutes
Record Type
Act 50
Date
2010 June 3-11
Source
General Synod. Minutes
Record Type
Act 50
Mover
The Rt. Rev. Philip Poole
Seconder
The Ven. Ronald Harrison
Text
That this General Synod approve the amendments to the Regulations of Canon IX as approved by the Council of General Synod by deleting the underlined portions and adding the bold portions as shown on the attached copy of the Regulations.
CARRIED Act 50
Notes
The text of the amendments to the Regulations of Canon IX, presented as Appendix A to the resolution, follows:
LAY RETIREMENT PLAN
REGULATIONS
Bold indicated addition, underline indicates deletion [In electronic database bold indicated by pointed brackets i.e. and underline indicated by curly brackets i.e. {}]
REGULATION 2 - ELIGIBILITY & MEMBERSHIP
2.1. All lay employees of a Participating Employer shall be Members except as provided under sections 2 and 3 of this Regulation.
REGULATION 3 - CONTRIBUTIONS
4.(a) in respect of a Member who is in receipt of Pension after the December 31 coincident with or next following the Member's attainment of the age of {sixty-nine} years .
REGULATION 4 - RETIREMENT
4.3 Member who continues in Active Service subsequent to the Member's Normal Retirement Date shall receive a Pension calculated in accordance with Regulation 5 accruing on the first day of the month following the Member's retirement date. For purposes of the Plan, the Member's retirement date must be no later than the December 31 coincident with or next following the Member's attainment of the age of {sixty-nine} years .
Subjects
Anglican Church of Canada. General Synod. Constitution. Canon IX
Pensions - Anglican Church of Canada - Regulations
Less detail

Amendments to the Regulations of Canon IX (Lay Retirement Plan)

http://archives.anglican.ca/en/permalink/official10374
Date
2013 July 3-7
Source
General Synod. Minutes
Record Type
Act 31
Date
2013 July 3-7
Source
General Synod. Minutes
Record Type
Act 31
Mover
The Rt. Rev. Philip Poole
Seconder
The Rt. Rev. Stephen Andrews
Text
That this General Synod approve the amendments to the Regulations of Canon IX as approved by the Council of General Synod by deleting the strike through portions and adding the bold potions as shown on the copy of the Regulations. For text see Appendix E
CARRIED Act 31
Notes
For text see Appendix E in the General Synod Journal 2013
[Text of Appendix E NOT included in electronic database.]
Subjects
Anglican Church of Canada. General Synod. Constitution. Canon IX
Pensions - Anglican Church of Canada - Regulations
Less detail

Amendments to the Regulations of Canon VIII – General Synod Pension Plan

http://archives.anglican.ca/en/permalink/official9761
Date
2010 June 3-11
Source
General Synod. Minutes
Record Type
Act 49
Date
2010 June 3-11
Source
General Synod. Minutes
Record Type
Act 49
Mover
The Rt. Rev. Philip Poole
Seconder
The Ven. Ronald Harrison
Text
That this General Synod approve the amendments to the Regulations of Canon VIII as approved by the Council of General Synod by deleting the underlined portions and adding the bold portions as shown on the attached copy of the Regulations.
CARRIED Act 49
Notes
The text of the amendments to the Regulations of Canon VIII, presented as Appendix A to the resolution, follows:
Underline indicates deletion, bold indicates addition [In electronic database bold indicated by pointed brackets i.e. and underline indicated by curly brackets i.e. {}]
REGULATION 1 – DEFINITIONS
1.9(b)(i) has been continuous for a period of at least {three} years, or
REGULATION 3 - CONTRIBUTIONS
3.1 The Contributions required from each Participating Employer shall be as follows for all Members in Active Service:
- i) Effective January 1, 2004: 10% of Salary
- ii) Effective January 1, 2005: 8.3% of Salary
- iii) Effective January 1, 2006: 9.0% of Salary
- iv) Effective January 1, 2007: 10% of Salary
3.4 Notwithstanding the foregoing, no Contributions shall be made in respect of a Member after the December 31 coincident with or next following the Member's attainment of the age of {sixty nine} years .
REGULATION 4 - RETIREMENT
4.3 A Member who continues in Active Service, , subsequent to the Member's Normal Retirement Date shall receive a Pension calculated in accordance with Regulation 5.3 accruing on the first day of the month following the Member's retirement date. For purposes of the Plan, the Member's retirement date must be no later than the December 31st coincident with or next following the Member's attainment of the age of {sixty nine} years .
REGULATION 5 – RETIREMENT BENEFIT
5.1(b) for Years of Contributory Membership after December 31, 1960, percentages of Salary in accordance with the following table:
1961 to 1972 - 1.5%
1973 to 1975 - 1.6%
1976 to 1978 - 1.7%
1979 to 1980 - 1.8%
1981 to 1982 - 1.85%
1983 to 1996 - 1.9%
1997 to {2011} - 2.0%
{2012} and later - {1.9%}-
REGULATION 7 – LUMP SUM DEATH BENEFIT
7.1 {Death of a Member in Active Service}
{On the death of a Member in Active Service,}
{- (a) if a surviving Partner‘s allowance is payable pursuant to Regulation 8, no lump sum benefit is payable except as provided under section 1(d) of this Regulation;}
{- (b) if no surviving Partner‘s allowance is payable pursuant to Regulation 8, the Member's beneficiary shall receive a lump sum benefit equal to the greater of:}
{-- (i) the Member's Contributions pursuant to Regulation 3.2 together with Interest; or}
{-- (ii) the commuted value of the benefit accrued by the Member after December 31, 1986;}
{- (c) if the Member has not had at least five years of Contributory Membership, the Member's beneficiary shall receive a lump sum benefit equal to the greater of:}
{-- i) the Member's Contributions pursuant to Regulation 3.2 together with Interest; or}
{-- (ii) the commuted value of the benefit accrued by the Member after December 31, 1986.}
{- (d) where the deceased Member has a Partner at the time of the Member's death the Partner may elect to receive the commuted value of the benefit accrued by the Member after December 31, 1986 as a lump sum benefit, or in the form of an immediate or deferred annuity having the same commuted value, in which case any other benefits payable to the Partner under the Plan shall be reduced by an amount having the same commuted value.}
--(iii) a deferred annuity whose commuted value is equal to the lump sum death benefit under Regulation 7.1(a).>
REGULATION 8 - SURVIVING PARTNER'S ALLOWANCE
8.1. Death of a Member in Active Service
- {a) On the death of a Member in Active Service who had at least five years of contributory membership, the surviving Partner of the Member shall may elect to receive a surviving Partner's allowance equal to 60% of the Pension accrued by the Member to date pursuant to Regulation 5.1.
REGULATION 15 - GENERAL PROVISIONS
15.10 {Solvency}
In the event that the Contributions payable pursuant to Regulation 3 are insufficient {maintain the solvency of the Plan} in accordance with {the requirements of the Pension Benefits Act, 1987 (Ontario) and regulations thereunder}, the Plan shall be amended to restore the {solvency thereof} .
{15.11. Transfer}
{- (a) A Member on entering the Plan may transfer into the Pension Fund monies from a pension plan of the Member's previous employer and there shall be credited to the Member such additional amount of Pension as may be determined by the Trustees on the advice of the Actuary.}
{- (b) A Member may, subject to Applicable Pension Legislation, transfer into the Pension Fund monies from a registered retirement savings plan of the Member. Such monies may be applied either:}
{-- (i) to credit to the Member such additional amount of Pension as may be determined by the Trustees on the advice of the Actuary; or}
{-- (ii) as additional voluntary contributions pursuant to Regulation 14}
REGULATION 17 - AMENDMENTS AND TERMINATION OF THE PLAN
17.1.(a) where the amendment is made pursuant to Regulation 15.10 in order to restore the {solvency of the Plan} or
SCHEDULE A - BONUS ADDITIONS TO ACCRUED PENSIONS
1.(b) for Years of Contributory Membership after December 31, 1960, percentages of Salary in accordance with the following table:
{2012} and later - {1.9%} -
Subjects
Anglican Church of Canada. General Synod. Constitution. Canon VIII
Pensions - Anglican Church of Canada - Regulations
Less detail

Pension Committee : Amendments to Canon XII and the Regulations – Continuing Education Plan

http://archives.anglican.ca/en/permalink/official10629
Date
2016 July 7-12
Source
General Synod. Minutes
Record Type
Act 16
Date
2016 July 7-12
Source
General Synod. Minutes
Record Type
Act 16
Mover
The Rt. Rev. Philip Poole
Seconder
The Rt. Rev. Stephen Andrews
Text
That this General Synod approve amendments to the Continuing Education Plan (CEP) as approved by the Council of General Synod during the triennium (2013-2016).
CARRIED Act 16
Notes
For text see Appendix B.
APPENDIX B
CONTINUING EDUCATION PLAN RESOLUTIONS
APPROVED BY THE COUNCIL OF GENERAL SYNOD DURING THE TRIENNUIM (2013 – 2016)
Resolution – Continuing Education Plan
November 2013
CONTINUING EDUCATION PLAN
Moved by: Chancellor David Jones
Seconded by: Archdeacon Harry Huskins
Be it resolved that the Council of General Synod approve the Pension Committee’s recommendation that the break between retirement or termination of employment and re- employment before which the members’ CEP account to be closed, be changed to 12 months; and approve the amendments to 4 d) of Canon XII – Continuing Education Plan to implement this change with effect from January 1, 2014.
Bold indicates addition, Strikethrough indicates deletion [In electronic database, "bolded" text is indicated by > brackets and "strikeout" text is indicated by {} brackets.]
4 d) When an employee ceases paid employment with a Member, the employee’s account will be frozen for a period of {two years} . If the employee resumes paid employment with a Member within {two years} his or her account will be reinstated at the level it was at when the employee ceased paid employment. If the employee resumes paid employment with a member more than {two years} after ceasing paid employment, a new account will be established.
Rationale
In the light of the financial strain on the plan, it is desirable to make the change from two years to 12 months. At the same time, 12 months is ample time to consider re- employment within the Anglican Church.
CARRIED #19-11-13
November 2014 – CEP
CEP TRUST AGREEMENT
Moved by: Canon David Jones
Seconded by: Mr. Tony Teare
Be it resolved that the Council of General Synod approve the Pension Committee's recommendation that Continuing Education Plan Trust Agreement (attached to this report as Appendix 1) be restated effective January 1, 2015
Rationale: The General Synod is empowered under the Trust Agreement to amend the Trust Agreement, subject to the consent of the Board of Trustees of the General Synod Pension Fund (the "Trustees").The parties to the Trust Agreement, which includes the General Synod, the Trustees and the Pension Committee of the General Synod (the "Pension Committee"), deem it desirable to confer upon the Trustees the power to amend the Trust Agreement, subject to the consent of the Pension Committee. They also deem it desirable to amend the Trust Agreement to resolve possible conflicts between the Trust Agreement and any other governing documents and clarify the legal relationships between the various stakeholders in the Continuing Education Fund and also to provide for the possibility of expenses being paid directly by Participating Employers where the Pension Committee determines it is appropriate to do so.
ADOPTED #012-11-14
Appendix attached to the resolution
Appendix 1 – Continuing Education Plan Trust Agreement
Appendix 1
Continuing Education Plan Trust Agreement
THIS AMENDED AND RESTATED TRUST AGREEMENT made as of the day of January, 2015, evidencing a trust relationship effective on January 1, 1970; amended by Amendment No. 1 dated as of April 19, 2004, Amendment No. 2 dated April 16, 2005, Amendment No. 3 dated April 16, 2005, Amendment No.4 dated April 5, 2008 and Amendment No. 5 dated March 25, 2011 and Amendment No. 6 dated October 30, 2014.
GENERAL SYNOD OF THE ANGLICAN CHURCH OF CANADA, a body corporate, incorporated by special act of the Parliament of Canada,
(hereinafter referred to as the “General Synod”)
OF THE FIRST PART
- and -
Josephine Marks
Karen McRae
Bob Boeckner
Louise Greig
Sheryl Kennedy
Stephen Koning
David Stovel
The Right Reverend M. Philip Poole,
(hereinafter referred to as the “Trustees”)
OF THE SECOND PART
THE PENSION COMMITTEE OF THE GENERAL SYNOD
(hereinafter referred to as the “Pension Committee”)
OF THE THIRD PART
WITNESSETH:
WHEREAS the General Synod has established by Canon XII and the regulations thereto, an arrangement referred to as the Continuing Education Plan (the “CEP”) and a trust fund (the “Continuing Education Fund”, referred to herein as the “CEF”) to provide a mechanism for funding the CEP through which Participating Employers will contribute funds for the qualifying continuing education and training of clergy and lay workers, and the arrangement has been established for the purpose of providing resources for such continuing education and training through the CEF a trust all or substantial all the property of which is held for the purpose of providing the foregoing resources to clergy and lay workers in order for them to improve their church-related work, work skills and abilities in respect of, or because of, their employment and/or voluntary, unpaid services, and as contemplated in the Income Tax Act (Canada);
AND WHEREAS the CEF is the funding medium for the CEP, and a trust was created effective January 1, 1970 for the benefit of the members who contribute to the CEF for the CEP, all as set out in Canon XII and the regulations thereunder;
AND WHEREAS the terms of the CEF were not reduced to an agreement setting out clearly all of the terms of the trust at the time the CEF was established and it is now expedient to evidence in writing the terms of the trust that was created at the time the CEF was established by Canon XII and that has continued in existence up to the date hereof, with various amendments having been made from time to time, and that will continue into the future, subject to the power to amend contained in Section 11.1 hereof;
AND WHEREAS Canon XII, as amended from time to time, sets out the basic provisions of the CEF as the funding medium for the CEP, and provides that there shall be a fund designated as the CEF for the purpose of providing benefits in accordance with the regulations and provides further that there shall be an administrative unit responsible for the operation of the CEP, subject to the authority of the Council of the General Synod;
AND WHEREAS each employed clergy or lay worker who applies for reimbursement to the CEF may have an account recorded with the CEF in order to monitor contributions made for such person’s education and training;
AND WHEREAS the basis on which contributions have been made to the CEF has changed over the year, consistent with Canon XII and the regulations as amended from time to time, and the CEF is now funded through an annual assessment levied against each member in the amount of $450.00 per year from each member in respect of each of that member’s accountholders;
AND WHEREAS the purpose of the CEP is to provide, and the purpose of the CEF is to provide funding for, continuing education programs for employed clergy and lay workers and to reimburse such persons for their costs incurred in taking courses of study, books, study materials, computer hardware and software and other goods and services, all as approved in accordance with the CEP, and funds can also be used to pay for special grants and sabbatical leave grants, all consistent with Canon XII and the regulations as amended from time to time; and all of the foregoing for the purpose of improving the church-related work, work skills and abilities of the foregoing employed clergy and lay workers;
AND WHEREAS the General Synod assigned oversight of the CEF to the Pension Committee and the administrative unit that oversees the CEF and the CEP, which reports to the Pension Committee on the overall performance of the CEF (the “Administrative Unit”);
AND WHEREAS the Pension Committee is not a separate legal entity, and consists of those individuals who, from time to time, are appointed by the General Synod to oversee the administration of the pension fund of the General Synod and for other purposes, and the Pension Committee, through its Chair, has acknowledged the terms of this Trust Agreement and agreed to be a party to it;
AND WHEREAS the Administrative Unit consists of a staff member who is responsible for the administration of the CEP (the “Administrator”), the Director of Pensions or the Deputy Director of Pensions of the General Synod and five members of the CEP who are appointed by the Pension Committee and the Administrative Unit advises the Administrator on matters relating to policy, authorizes payment of special and sabbatical grants and expenses incurred in the administration of the CEP and from time to time proposes changes in the regulations to the Council of the General Synod in respect of the CEF and/or the CEP;
AND WHEREAS initially the trustees of the CEF were the members of the Pension Committee from time to time but now the trustees of the CEF are those persons who are appointed from time to time by the Pension Committee and the Trustees are the current trustees of the CEF;
NOW THEREFORE in consideration of the premises and of the mutual obligations and agreements herein set forth, the General Synod and the Trustees do hereby covenant and agree as follows:
ARTICLE 1
DEFINITIONS
1.1 The trust fund comprising the CEF shall continue to be known as “The Continuing Education Fund of The Anglican Church of Canada” or by such other name as the General Synod may determine.
1.2 The meaning of all words and expressions defined in the CEP and the CEF also apply to such words and expressions where used in this Trust Agreement, unless the context otherwise permits or requires.
1.3 All references to Canon XII shall mean Canon XII of the General Synod of the Anglican Church of Canada and regulations thereto as they have been or may be amended from time to time, as the context requires or permits.
ARTICLE 2
CONFIRMATION OF TRUST
2.1 The Trustees confirm that they are trustees of the trust set out in Canon XII and in this Trust Agreement and agree that the CEF shall continue to be held by them in trust under and subject to the terms of the CEP and this Trust Agreement. The Trustees shall receive and hold as part of the CEF any contributions paid to them in cash or other property acceptable to the Trustees, including any cash or other property transferred from any other funding medium under the CEP. All such cash or other property, together with the income and capital gains arising therefrom, less any proper payments therefrom, shall be held, invested, managed and administered pursuant to the terms of Canon XII and the regulations, the CEP and this Trust Agreement, as amended from time to time.
ARTICLE 3
PAYMENTS OUT OF THE TRUST FUND
3.1 Subject to their right to delegate as hereinafter provided the Trustees shall pay from the CEF all benefits and other amounts payable under the terms of the CEP, as directed by the appropriate person as contemplated in the CEP.
ARTICLE 4
POWERS, DUTIES AND AUTHORITY OF TRUSTEES
4.1 The Trustees shall have, in addition to the powers given to them by Canon XII, and to any other powers and authority to which trustees may be entitled at law, the following powers and authority in the administration of the CEP and the CEF, all of which powers and authority shall be exercised by the Trustees in their discretion but not in any manner inconsistent with any other provision of this Trust Agreement or the CEP as any of them may be amended from time to time.
- (a) With any cash at any time held by them to purchase or otherwise acquire any securities or other property of any kind permitted in Article 5 and to retain in trust such securities or other property;
- (b) To sell for cash or on credit or partly for cash and partly on credit, convert, redeem, exchange for other securities or other property, convey, transfer, pledge or otherwise dispose of any securities or other property at any time held by them by any means considered reasonable by the Trustees and to receive consideration and grant discharges therefor;
- (c) When instructed to do so by the Pension Committee, to settle, compromise or submit to arbitration any claims, debts, or damages, due or owing to or from the CEF, to commence or defend suits or legal proceedings and to represent the CEF in all suits or legal proceedings; provided that the Trustees shall not be obligated or required to do so unless they have been first indemnified to their satisfaction against all expenses and liabilities sustained or anticipated by them;
- (d) To exercise any conversion privilege and/or subscription right, warrant and/or other rights or options available in connection with any securities or other property at any time held by them and to make any payments incidental thereto; to consent, or otherwise participate in or dissent from, the reorganization, consolidation, amalgamation, merger or readjustment of the finances of any corporation, company or association any of the securities of which may at any time be held by them or to the sale, mortgage or lease of the property of any such corporation, company or association, and to do any act with reference thereto, including the delegation of discretionary powers, the exercise of options, the making of agreements or subscriptions and the payment of expenses, assessments or subscriptions, which may be deemed necessary or advisable in connection therewith, and to hold and retain any securities or other property which they may so acquire and generally to exercise any of the powers of an owner with respect to securities or other property held in the CEF;
- (e) To vote personally or by general or limited proxy, any securities or other property which may be held by them at any time, and similarly to exercise personally or by general or by limited power of attorney any right appurtenant to any securities or other property held by them at any time;
- (f) To employ and pay such employees, agents and advisers, including, without limiting the generality of the foregoing, custodians, disbursing agents, investment advisors, lawyers, actuaries, auditors and other persons as the Trustees may deem necessary or advisable from time to time for the purpose of discharging their duties hereunder (including any person who may be a Trustee or any firm or organization of which such person may be a member or affiliated, and including any person who may be an officer or employee of the General Synod), and to rely and act on information and advice furnished by such persons or to refrain from acting thereon; provided that the Trustees must use such care in the selection and supervision of such persons as is reasonable and prudent in the circumstances and, in such event, the Trustees will not be responsible for the neglects or defaults of such persons;
-(g) To register the securities or other property of the CEF in the name of “The Continuing Education Fund of the Anglican Church of Canada” or a similar name or designation or in their own names or in the names of nominees in trust for the CEF; and the Trustees are hereby expressly empowered to keep the same, wholly or partly, at the office of any financial institution that is authorized to act as a custodian of securities by the laws of any country, province, state or any other political subdivision of any country in which such financial institution is located, in which case the securities or other property may be registered in the name of such financial institution or its nominee, a depository of the financial institution or the nominee of such depository, or in bearer form. The securities and other property of the CEF shall at all times be kept distinct from the Trustees' own assets and those of their nominees or depositories and distinguishable in the registers and other books of account kept by the Trustees or their nominees or depositories from those of the Trustees or their nominees or depositories, and such registers and books of account shall show that such securities or other property are held in trust for the CEF;
- (h) To make, execute, acknowledge and deliver, as Trustees, any and all deeds, leases, mortgages, conveyances, contracts, waivers, releases or other instruments in writing necessary or proper for the accomplishment of any of the foregoing powers and the Trustees may by resolution authorize such person or persons or corporation to execute any such documents on behalf of the Trustees;
- (i) To keep such portion of the CEF in cash as may from time to time be deemed by them to be in the best interests of the CEF, in such interest bearing accounts as the Trustees determine, or to invest such cash balances in short term or intermediate term cash equivalents having ready marketability;
- (j) To make arrangements for the care and custody of the securities and other property of the CEF and such banking arrangements as the Trustees from time to time deem advisable; and without limiting the generality of the foregoing the Trustees may by resolution authorize any person or persons to sign cheques on behalf of the Trustees;
- (k) To do all such acts, take all such proceedings, and exercise all such rights and privileges, although not specifically mentioned herein, as the Trustees may deem necessary to carry out their responsibilities hereunder.
The exercise by the Trustees of any one or more of the foregoing powers or any combination thereof from time to time shall not be deemed to exhaust the rights of the Trustees to exercise such power or powers or combination of them thereafter from time to time.
ARTICLE 5
INVESTMENTS
5.1 Investment of the CEF
The CEF shall be held, invested and reinvested in such manner as the Trustees may in their sole discretion determine, without in any way being limited to investments authorized for trustees under any applicable federal, provincial or territorial legislation save as hereinafter provided, including for greater certainty the Trustee Act, R.S.O. 1990, c.T. 23, as amended from time to time. In exercising their discretion, the Trustees may take into consideration the social responsibility of the corporations and other entities in which they are considering investing. The Trustees are authorized to engage the services of one or more investment counsel, managers, mutual fund managers and/or investment advisers as in their absolute discretion they consider advisable in respect of the investment and reinvestment of all or any of the CEF, and the Trustees shall have power and authority to delegate to such persons discretion to manage all or any part of the CEF as directed by the Trustees. For greater certainty, the Trustees shall invest all or any part of the CEF in the Consolidated Trust Fund of the General Synod or in such other fund as the Pension Committee directs.
5.2 Power to Commingle
The Trustees may, in their discretion from time to time:
- (i) invest all or any portion of the CEF in any one or more mutual funds or other funds qualified for the investment of pension funds for the purpose of permitting common investment and reinvestment; and
- (ii) consistent with applicable governing law, commingle all or any portion of the CEF with the assets of or all of the trust funds established in conjunction with other plans or arrangements authorized by the General Synod or the Council of the General Synod or by any Provincial or Diocesan Synod and for which the Trustees are trustees and to make joint, collective or participating investments with respect to such commingled assets; provided, however, that the Trustees shall maintain separate accounts reflecting the undivided share, expressed on a pro rata basis, of the CEF in such investments and shall equitably on such basis determine the value of the assets of the CEF from time to time withdrawn or segregated from such joint, collective or participating investments. For greater certainty, it is expressly understood and agreed that neither the aforesaid commingling, making of joint, collective or participating investments nor the maintenance of separate accounts as provided in this Trust Agreement is intended to create, nor shall such commingling, making of joint, collective or participating investments and maintenance of separate accounts, create a separate trust or trusts.
5.3 Warrants, Options, Futures, Precious Metals
Without limiting the generality of the investment authority of the Trustees but subject always to Section 5.1, the Trustees are expressly authorized to invest in warrants, options, futures or other instruments designed to provide additional income or hedging opportunities for current investments and to invest in gold, silver and other precious metals.
5.4 Securities Lending
The Trustees may engage in securities lending under a specific program approved by the Pension Committee and in connection therewith, the Trustees are authorized to release and deliver securities and return collateral received for securities in accordance with the provisions of the program.
ARTICLE 6
FEES AND EXPENSES
6.1 Taxes and Assessments
All taxes and other assessments levied or assessed under existing or future laws against the Trustees or the CEF in respect of the CEF or in respect of any money, property or securities from time to time forming a part thereof, shall be paid out of the CEF and the Trustees shall withhold from payments out of the CEF all taxes required by any law to be withheld and make such reports to applicable tax authorities as required by any law.
6.2 Expenses
All fees and expenses that relate to the administration and investment of the CEF and the CEP may be paid from the CEF. The Pension Committee is empowered to determine which expenses will be paid from the CEF and which expenses will be paid directly by the Participating Employers pursuant to Canon VIII.
ARTICLE 7
REPORTS, ACCOUNTS AND STATEMENTS
7.1 Accounts and Records
The Trustees shall keep or cause to be kept accurate and detailed accounts and records of all investments, receipts and disbursements and other transactions with respect to the CEF, and all accounts, books and records relating thereto shall be open to inspection to such person or persons as the Trustees determine appropriate, or as required by law.
The Trustees shall maintain and determine or cause to be maintained and determined separate accounts of the contributions of Participating Employers in respect of a particular clergy person or lay worker and payments made out of the CEF as reimbursement to such clergy and lay workers for their continuing education and training, and such other accounts as the CEP require shall be maintained by the Trustees.
7.2 Periodic Statements
The Trustees shall render to the Pension Committee within 90 days following the last day of each fiscal year of the CEF or the termination of this Trust Agreement, or at such other times as may be agreed upon by the Trustees and the Pension Committee, accounts of the transactions of the CEF in a form acceptable to the Pension Committee.
ARTICLE 8
ADMINISTRATION
8.1 Chairperson and Secretary
The Trustees shall elect a Chairperson from among their number and shall appoint a Secretary who may, but need not, be a Trustee. If the Chairperson or the Secretary is not in attendance at a meeting, the Trustees in attendance (if there is a quorum) may select a Chairperson or Secretary, as the case may be, of such meeting from among their number.
8.2 Voting By the Trustees
If the Trustees are unable to agree on any matter, the decision of a majority of Trustees present at a meeting where the matter is being considered shall be deemed to be the decision of all the Trustees. The Chairperson of the meeting shall not vote on any matter except where there is a tie vote, in which case the Chairperson shall have the casting vote.
8.3 Unanimous Consent
In lieu of holding a meeting, the Trustees may make a decision by way of unanimous consent as evidenced by a written resolution or minute signed by all of the Trustees. It shall be the duty of the Secretary to record such resolution or minute in the minute book maintained for the Trust.
8.4 Rules and Regulations
The Trustees may adopt, by by-law or otherwise, such rules and regulations they as see fit to govern their own procedure so long as such rules and regulations are not inconsistent with any of the provisions of this Trust Agreement or the CEP.
8.5 Responsibility of Trustees
Trustees shall be liable for any honest error of judgment, nor be personally liable for any liability or debt of the CEF contracted or incurred, nor for the non-fulfillment of any contract, nor for any other liability arising in connection with the administration of the CEP and the administration and the investment of the CEF; provided, however, that nothing herein shall exempt the Trustees or any Trustee or employee or agent thereof from any liability, obligation or debt arising out of acts or omissions done or suffered in bad faith or through gross negligence or willful misconduct. Neither the Trustees nor any Trustee, employee or agent thereof shall be liable for any action taken upon reliance on any instrument, certificate or paper believed to be genuine and to be signed or presented by the proper person or persons and shall be under no duty to make investigations nor inquiry as to any statement contained in any such document but may accept the same as conclusive evidence of the truth and accuracy of the statements therein contained. The Trustees may obtain trustees' and fiduciaries' liability insurance and pay the premiums for such insurance out of the CEF.
ARTICLE 9
APPOINTMENT, RESIGNATION AND REMOVAL OF TRUSTEE
9.1 Composition of the Trustees
The Trustees shall be those persons who from to time are appointed by the Pension Committee.
Any Trustee may at any time resign from the office of Trustee on giving not less than 30 days notice addressed to the other Trustees then in office, but if there are no other Trustees then in office, the Trustee may resign on the appointment of and acceptance of such appointment by a new Trustee or new Trustees in the place of the Trustee so resigning.
The office of a Trustee shall be automatically terminated and vacated if that Trustee is an individual and is found to be mentally incompetent or is declared bankrupt or insolvent or, if the Trustee is a corporation, it is declared bankrupt or insolvent or enters into liquidation, whether compulsory or voluntary, but not a liquidation carried out on a voluntary basis for the purpose of amalgamation or reconstruction.
A Trustee shall not be required to remain in or be resident in the Province of Ontario, but all times a majority of the Trustees shall reside in Canada.
The Pension Committee may revoke the appointment of any Trustee at any time.
Any three Trustees shall constitute a quorum.
9.2 Successor Trustees
If a person appointed as Trustee consents to act as Trustee, then upon the effective date of such appointment the Trustee shall be bound by all of the terms of this Trust Agreement as though he or she were an original party to it. The property in the CEF shall vest in the new Trustee and the continuing Trustees without the need for any conveyance or assignment and any reference to "Trustees" in this Trust Agreement shall mean the Trustee or Trustees from time to time in office.
9.3 Conveyance
Notwithstanding Section 9.2, every person ceasing to be a Trustee hereunder shall at the request of the Pension Committee convey, assign, transfer and make over or join in conveying, assigning, transferring and making over to the other Trustees of the CEF, any or all of the real and personal property of the CEF as the Pension Committee may direct.
ARTICLE 10
PARTICIPATING EMPLOYERS
Except as otherwise provided in the CEP:
The Pension Committee, upon written notice to the Trustees, shall have the right to extend the benefits of the CEP on mutually agreeable terms to the eligible employees of any Provincial or Diocesan Synod, any Diocese, Parish or other organization in the Church which wishes to participate in the CEP (a "Participating Employer") and such Participating Employer may thereupon participate as a member in the CEP and will be bound by the provisions of this Trust Agreement.
ARTICLE 11
AMENDMENT AND TERMINATION
11.1 Amendment
The Trustees may at any time and from time to time amend, in whole or in part, all or any of the provisions of this Trust Agreement, provided, however, that no such amendment shall become effective without the written consent of the Pension Committee, and this Trust Agreement shall be amended, ipso facto, to the extent necessary, if Canon XII or the regulations thereunder are amended in any way that requires an amendment of this Trust Agreement.
11.2 Termination
The Pension Committee may terminate this Trust Agreement at any time, in which event the Trustees shall distribute the assets in the CEF in accordance with the terms of the CEP and provide the Pension Committee with a final accounting of their administration of the CEF.
ARTICLE 12
MISCELLANEOUS
12.1 Delivery of Notices
The delivery of any notice, account, statement, report, document, instruction or direction which, by any provision of this Trust Agreement, is required or permitted to be given or served by or to the Trustees or the Pension Committee, shall be deemed to be sufficiently given and served for all purposes if delivered personally, delivered by facsimile transmission, or mailed postage prepaid (except in the case of postal interruption), addressed to each of the Trustees at his address as filed with the Secretary and to the Pension Committee at the following address:
Pension Office Corporation of the
Anglican Church of Canada
625 Church St.
Suite 401
Toronto, ON
M4Y 2G1
Fax: 416-968-7689
or at such other address with respect to any of the Trustees or the Pension Committee as may be provided to the Secretary from time to time; and such notice shall be considered to have been given on the day it is actually delivered personally or by facsimile transmission to, or otherwise received by, the Trustee or the Pension Committee, as the case may be.
12.2 Severance of Illegal or Invalid Provision
If any provision of this Trust Agreement shall be held illegal or invalid for any reason by a court of competent jurisdiction, such illegality or invalidity shall not affect the remaining provisions thereof but this Trust Agreement shall be construed and enforced as if such illegal or invalid provision had never been inserted herein.
12.3 Notification Respecting Alienation of Benefits
The Trustees will notify the Pension Committee upon the receipt by them of any assignment or attempted assignment or notice thereof or of any involuntary assignment, seizure, garnishment or any process of law or execution or notice thereof in respect of any benefit payable out of the CEF.
12.4 Assignment
This Trust Agreement may not be assigned by the Trustees otherwise than to other Trustees appointed pursuant to the terms of this Trust Agreement.
12.5 Gender
Unless the context otherwise requires, any masculine term used in this Trust Agreement shall include the feminine and neuter and vice versa, and any singular term shall include the plural and vice versa.
12.6 Headings
The titles of Articles and the headings in this Trust Agreement are placed herein for convenience of reference only, and in case of any conflict, the text of this Trust Agreement, rather than such titles or headings, shall govern.
12.7 Binding Agreement
This Trust Agreement shall enure to the benefit of and be binding upon the parties hereto and upon their permitted successors and assigns. The parties acknowledge that the terms of this agreement reflect an ongoing relationship which has been in existence for many years. Notwithstanding the fact that this Trust Agreement is being executed currently, the parties acknowledge that it records the terms of the CEF as originally constituted and subsequently amended.
12.8 Execution in Counterparts
This Trust Agreement may be executed in several counterparts, each of which when so executed shall be deemed to be an original, and such counterparts shall constitute one and the same Trust Agreement.
12.9 Applicable Law
This Trust Agreement shall be governed by, construed in accordance with, and enforced according to the laws of the Province of Ontario, Canada.
DATED AT TORONTO this ____ day of ____ , 2014.
IN WITNESS WHEREOF the parties have executed this amendment to the Trust Agreement.
GENERAL SYNOD OF THE ANGLICAN CHURCH OF CANADA
per: __________________
Hanna Goschy, Treasurer
THE TRUSTEES
_______________ (Witness ) _______________ Josephine Marks, Trustee
_______________ (Witness ) _______________ Karen McRae, Trustee
_______________ (Witness ) _______________ Bob Boeckner, Trustee
_______________ (Witness ) _______________ Louise Greig, Trustee
_______________ (Witness ) _______________ Sheryle Kennedy, Trustee
_______________ (Witness ) _______________ Stephen Koning, Trustee
_______________ (Witness ) _______________ Josephine Marks, Trustee
_______________ (Witness ) _______________ David Stovel, Trustee
_______________ (Witness ) _______________ The Right Reverend M. Philip Poole, Trustee
per: ___________ Authorized Signing Officer
Subjects
Pensions - Anglican Church of Canada - Regulations
Anglican Church of Canada. General Synod. Constitution. Canon XII
Continuing education - Anglican Church of Canada
Less detail

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