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
That the National Executive Council approve in principle the following statement and refer it to the Resolutions Committee of General Synod for inclusion into the discussion of the report of the Task Force "For the Elimination of Poverty and Social Injustice":
- 'Any program to support income levels in Canada should specifically differentiate between those Canadians who are a part of the work force and those who are retired. In particular such a program should:
- 1) ensure that the retirement income of those who contributed to a private pension plan or any similar retirement program normally would exceed the income of those who did not.
- 2) ensure that there are clear financial incentives to all those who prepare for their financial security in retirement by participating in any pension or other retirement program.' CARRIED
Notes
The Primate expressed gratitude to the Pension Committee for its excellent and competent work.
Archdeacon Hobson took this opportunity to thank the members of the Pension staff and stated that much credit should go to them for their work.
That the Pension Board be authorized to conduct a Special Names campaign to provide capital funds to augment the pensions of members of the Pension Plan who do not enjoy Canada Pension Plan benefits, and other similar purposes; and that the Pension Committee be given the primary responsibility for organizing this campaign in consultation with the Task Force on Funding National Goals; and
that the Task Force which will conduct this campaign be nominated by the Pension Committee, and appointed by the Officers of Synod; and that the Task Force be directed to report both interim and final plans to the Officers of Synod for their approval prior to implementation. CARRIED
That this General Synod approve the 1997 Audited Financial Statements of the General Synod Pension Plan of the Anglican Church of Canada. CARRIED Act 59
That this General Synod approve the 2003 Audited Financial Statements of the General Synod Pension & Income Continuance Plans, the Lay Retirement Plan and the Long Term Disability Plan of the Anglican Church of Canada. CARRIED Act 50
That the National Executive Council recommends that approval be given to the payment from Assessment funds of $5,482.84 to the Pension Fund as reimbursement of part of the cost of the 1978 "13th cheque" pension program. CARRIED
That Canon IX and the Regulations governing the Lay Retirement Plan be rescinded and replaced with the revised Canon IX and the Regulations governing the Lay Retirement Plan as in the form attached. CARRIED Act 67
Notes
(See the attached Canon IX - Lay Retirement Plan)
[N.B. The text of Canon IX is NOT included in the electronic database.]