That the Council of General Synod approve amendments to Regulations 3.1 (Contributions), Regulation 5.1(b) (Normal Retirement Pension) and Section 1.(b) of Schedule A of the General Synod Pension Plan (Canon VIII) effective January 1, 2004.
- Regulation 3.1 (Contributions) is amended to read as follows.
(Bold indicates addition, underline indicates deletion) [In electronic database bold indicated by pointed brackets i.e. and underline indicated by curly brackets i.e. {}]
1. The Contributions required fom each Participating Employer shall be {10% of Salary} for all Members in Active Service:
- Regulation 5.1 (b) (Normal Retirement Pension) is amended to read as follows.
(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 200{3} - 2.0%
200{4} - and later - 1.9%
- 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:
provided however that the increase in a Member's amount of annual Pension pursuant to this paragraph 1 shall not exceed 40% of the amount otherwise determined as of December 31, 1988 in accordance with Regulation 5.1. CARRIED #04-11-03
That the Council of General Synod approve amendments to Regulation 10.4 of the General Synod Pension Plan effective January 1, 2003.
Renumber the current Regulation 10.4 as 10.4(a) and add a new section (b).
(Bold denotes addition) [In electronic database bold indicated by pointed brackets i.e. ]
(a) Where a Member's employment by a Participating Employer terminates upon the Member becoming an employee of another Participating Employer, the Member's Active Service shall be deemed not to have terminated.
That the Council of General Synod approve the Pension Committee's recommendation that the Additional Voluntary Contributions provision of the plan be removed effective January 1, 2003 and approve the following amendments to Regulation 14 RETIREMENT SAVINGS FUND (Additional Voluntary Contributions).
Bold indicates addition, underline indicates deletion. [In electronic database bold indicated by pointed brackets i.e. and underline indicated by curly brackets i.e. {}]
14.1 Additional contributions may be made by or on behalf of a Member in Active Service, providing that the total contributions made by the Member shall not exceed the maximum amount permitted under the Income Tax Act (Canada).
That in Section 1(b) line 4 delete "is" and insert "Division" after the word "Department" and before the words "and Boards."
Section 1(b)9. will now read:
"ix) Member means any person, whether or not in Holy Orders, employed by the General Synod, a participating Provincial or Diocesan Synod of the Church, or any department, division, or board thereof and as such in receipt of a stipend, salary, wages, or other remuneration. Every person in Holy Orders whose name is on the clerical register of a member diocese shall be a member of the Plan". CARRIED
Moved by The Hon. R. Stevenson, seconded by Archdeacon J. Boyles,
That the Canons be amended by:
a) Canon II - Section 3 - Deleting references to Administration and Finance Committee and replacing with Financial Management and Development Committee.
b) Canon III, Section 13 - Deleting references to Administration and Finance Committee and replacing with Financial Management and Development Committee.
c) deleting the words Administration and Finance Committee wherever they appear in the Canons and substituting the words Financial Management and Development Committee.
d) deleting Section 3e) of Canon VIII and substituting therefor:
"e) The members of the committee may elect one of their number to be vice-chairperson of the committee."
e) deleting the words Committee on Ministry in section 4(a) of Canon XII and substituting the words Pension Committee.
Text
Amendment
That, in reference to item d)e) above, Section 3e) of Canon VIII be printed in the Handbook of the General Synod as follows:
Notwithstanding Section 41k) of the Constitution, at the first meeting, the ex-officio, elected and appointed members may elect one of their number as chairperson and may elect another as vice-chairperson. CARRIED Act 35
The amended motion was then put and CARRIED. Act 36
That Canon VIII and the Regulations governing the General Synod Pension Plan be rescinded and replaced with the revised Canon VIII and the Regulations governing the General Synod Pension Plan as in the form attached. CARRIED Act 65
Notes
(See the attached Canon VIII - General Synod Pension Plan)
[N.B. The text of Canon VIII is NOT included in the electronic database.]
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.
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 WITHOUT DEBATE Act 10
Notes
The amended Canon VIII is attached. (See Appendix B)
Appendix B
GENERAL SYNOD PENSION PLAN
CANON VIII
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) ix) "Long Term Disability Fund" means the fund or funds described in section 2.d) of this Canon;
2.d) There shall be a fund {or funds}established in conjunction with the Long Term Disability Plan under {one or more} written trust agreements in Canada, which funds shall {collectively} be designated as the "Long Term Disability Fund of The Anglican Church of Canada", for the purpose of providing benefits in accordance with this Canon and the Long Term Disability Regulations.
The Long Term Disability Fund shall consist of the monies received by way of contributions, transfers, and other amounts for provision of Long Term Disability Plan benefits together with interest, dividends, earnings, accumulations and accretions, less the same amounts expended in the payment of Long Term Disability Plan benefits and the expenses of the administration of the Long Term Disability Plan and the Long Term Disability Fund.
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 become effective from the date of approval 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 related to the Long Term Disability Plan shall be the maintenance of a rate of contribution, paid {entirely}by Members 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.
6.g) To receive, hold and administer all funds contributed to them with respect to the Long Term Disability Plan as a separate trust fund and in accordance with the following terms: