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EPISCOPAL ELECTION RESULTS

http://archives.anglican.ca/en/permalink/official10462
Date
2013 November 14-17
Source
Council of General Synod Minutes
Record Type
Resolution 21-11-13
Date
2013 November 14-17
Source
Council of General Synod Minutes
Record Type
Resolution 21-11-13
Mover
Archdeacon Harry Huskins
Seconder
Mrs. Cynthia Haines Turner
Prologue
The Primate announced that The Ven. Dr. Geoffrey Peddle had been elected Bishop of Eastern Newfoundland and Labrador.
Text
That the Council of General Synod send its congratulations and assurance of prayers to Bishop-Elect Peddle.
ADOPTED #21-11-13
Subjects
Anglican Church of Canada. Diocese of Eastern Newfoundland and Labrador - Bishops
Peddle, Geoff (Geoffrey Curtis Ralph), 1963-2020
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PENSION COMMITTEE 010 04 15 05 : APPENDIC C : PENSION COMMITTEE RESOLUTIONS : GENERAL SYNOD PENSION PLAN : 1.1 GENERAL SYNOD BENEFIT PLAN – REGULATION 5

http://archives.anglican.ca/en/permalink/official10511
Date
2015 May 1-3
Source
Council of General Synod. Minutes
Record Type
Resolution 09-05-15
Resolution 10-05-15
Date
2015 May 1-3
Source
Council of General Synod. Minutes
Record Type
Resolution 09-05-15
Resolution 10-05-15
Mover
Canon David Jones
Seconder
Mrs. Cynthia Haines Turner
Prologue
Ms Judy Robinson, executive director of the Pension Office, and Ms. Josephine Marks, chair of the Board of Trustees, presented two motions: one amending the early retirement subsidy for those leaving service before the age of 65; and, the second one permitting the payment of investment management fees from the corporation’s own account. Both were carried.
Please see Appendix C for the resolutions and background.
Text
Be it resolved that The Council of General Synod approves the recommendation of the Pension Committee to amend plan with respect to early retirement subsidies for benefits earned from January 1, 2016 and that a formula reduction of 6% per year be implemented from normal retirement age; and approve the following changes effective January 1, 2016.
CARRIED #09-05-15
Notes
Amendments to Regulation 5 (“Retirement Benefit”)
Bold indicates addition. Strikethrough indicates deletion [In electronic database, "bolded" text is indicated by > brackets and "strikeout" text is indicated by {} brackets.]
Section 2 of Regulation 5 is edited to read as follows:
2. Early Retirement
The amount of annual Pension payable on early retirement pursuant to Regulation 4.2 shall be the amount determined in accordance with section 1 of this Regulation but reduced as follows:
(a) for Pension accrued by the Member to December 31, 2015,
- (a)(i) if the Member was an Active Member immediately prior to retirement, by
-- (i)(A) one quarter of one percent for each month or part of a month not exceeding 60 months by which the actual date of retirement precedes the earlier of
--- A)(I) the Member's Normal Retirement Date, or
--- (B)(II) the date on which the Active Member would have completed thirty-five Years of Contributory Membership, if the Member’s Contributory Membership in the Plan had continued until that date,
--- plus
-- (ii)(B) one half of one percent for each month or part of a month in excess of 60 months by which the actual date of retirement precedes the earlier of the two dates referred to in (i)(A) above;
- (b)(ii) if the Member had become an Inactive Member and had not returned to Active Service, by one half of one percent for each month or part of a month by which the actual date of retirement precedes the Member's Normal Retirement Date.
(b) for Pension accrued by the Member after December 31, 2015, by one half of one percent for each month or part of a month by which the actual date of retirement precedes the Member's Normal Retirement Date.
Rationale: An unreduced pension is available to members at the earlier of 65 years of age and 35 years of continuous service.
The CAG considered a model that had the effect of eliminating the early retirement subsidies entirely. In this case, a member retiring before their normal retirement date would have his or her pension (earned after the effective date of the change) reduced on an actuarially equivalent basis. Practically, it was prudent to consider a formula reduction of 6% per year rather than an actuarial adjustment. This amendment amends the early retirement subsidy as requested by the Trustees for Pension earned from January 1, 2016 onwards. Pension earned up to December 31, 2015 will continue to be eligible for subsidized early retirement without change.
1.2 GSPP [General Synod Pension Plan] INVESTMENT MANAGEMENT FEE
Moved by: Canon David Jones
Seconded by: Mrs. Cynthia Haines Turner
Be it resolved that The Council of General Synod approves the recommendation of the Pension Committee under the new Benefit Plan Regulation, to require GSPP investment management fees be paid from the Pension Office Corporation’s administrative expense account for 2015.
Rationale: The administration expense account has 2 sources of contribution due to good experience under the benefit plans and the LTD Plan. These one-time deposits are sufficient to pay investment expenses in 2015.
CARRIED #10-05-15
Subjects
Pensions - Anglican Church of Canada
Pensions - Anglican Church of Canada - Regulations
Less detail