Skip header and navigation

Refine By

1 records – page 1 of 1.

PENSION COMMITTEE 010 03 14 11 : GENERAL SYNOD BENEFIT PLANS ADMINISTRATION AND EXPENSES REGULATION PURSUANT TO SECTION 4 OF CANON VIII

http://archives.anglican.ca/en/permalink/official10495
Date
2014 November 13-16
Source
Council of General Synod. Minutes
Record Type
Resolution 06-11-14
Date
2014 November 13-16
Source
Council of General Synod. Minutes
Record Type
Resolution 06-11-14
Mover
David Jones
Seconder
James Sweeney [sic Sweeny]
Prologue
[Page 7]
Mr. Bob Bockner, a Trustee with the Pension Committee, was introduced by the Primate. He presented a number of resolutions stating that they have previously been reviewed by the Chancellor, legal counsel and by the Trustees.
The resolutions are attached as Appendix B.
Mr. Cameron Hunter, Actuary, presented an overview of the General Synod Pension Plan.
[Mover, Seconder and Text of resolution as found in Appendix B.]
Text
[Pages 11-12]
APPENDIX B
PENSION COMMITTEE RESOLUTIONS
1.1 GENERAL SYNOD BENEFIT PLANS ADMINISTRATION AND EXPENSES REGULATION PURSUANT TO SECTION 4 OF CANON VIII
Be it resolved that The Council of General Synod approves the recommendation of the Pension Committee; and adopt the new Benefit Plan Regulation (attached to the CoGS report as Appendix 1) pursuant to section 4(b) of Canon VIII effective January 1, 2015 to implement the following :
- to impose the obligation on the participating employers to pay expenses in respect of all the Benefit Plans to the extent the expenses are not paid by the applicable Benefit Plan, including the GSPP administrative expenses, as determined by the Pension Committee.
Rationale: There is currently no express obligation in the governing document for participating employers to pay expenses in respect of the Group Benefit Plans and therefore it is recommended that the expense obligation in respect of the Group Benefit Plans be included in a new Benefit Plan Regulation pursuant to Section 4(b) of Canon VIII.
1.2 AMENDMENTS TO CANON VIII
Moved by: David Jones
Seconded by: Percy Coffin
Be it resolved that The Council of General Synod approves the following recommendations of the Pension Committee to amend Article 2(c), 2 (e), 4(c) and 6(h) effective January 1, 2015.
- Bold Indicates addition. Strikethrough indicates deletion [In electronic database, "bolded" text is indicated by > brackets and "strikeout" text is indicated by {} brackets.]
- 2.c) { i) The Ordinary Fund, being the monies received by way of contributions, transfers and other amounts for provision of Pension Plan benefits together with interest, dividends, earnings, accumulations and accretions, less the amounts expended in the payment of Pension Plan benefits and the expenses of administration of the Pension Plan and the Pension Fund;}
-- {ii) The Endowment Fund, being the amounts received by way of gift, donation, or bequest, which may be disbursed at the discretion of The Endowment Committee of The Anglican Church of Canada as an augmentation, either general or particular, to the Pension Plan benefits; and}
-- {iii) The Special Endowment Fund, being the amounts received by way of gift, donation, or bequest, the terms of which are restricted by donors or trusts. The Endowment Fund, including the Special Endowment Fund, shall be maintained as a charitable organization within the meaning of the Income Tax Act (Canada).}
ADOPTED #06-11-14
Subjects
Pensions - Anglican Church of Canada
Pensions - Anglican Church of Canada - Regulations
Anglican Church of Canada. General Synod. Constitution. Canon VIII
Less detail