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Lay Retirement Plan

https://archives.anglican.ca/link/official472
Source
General Synod. Minutes
Date
1986 June 14-22
More detail
Date
1986 June 14-22
Source
General Synod. Minutes
Type
Act 53
Mover
Rt. Rev. A.D. Brown
Seconder
Mrs. M. Olson
Text of motion
That Canon IX, with the exception of Section 6, be rescinded and the following, with the exception of Section 6, enacted in its place:
CANON IX - LAY RETIREMENT PLAN
1. a) This Canon shall be interpreted in its plain and literal sense, provided always that words of an ecclesiastical meaning shall have their proper ecclesiastical meaning, words of a financial meaning shall be construed in their special context as shall other words having any technical meaning and that where required by the circumstances words of male gender shall also imply the female gender.
b) Without restricting the generality of the foregoing, in this Canon and in all regulations made thereunder:
i) the "Church" means The Anglican Church of Canada or any other body in the Anglican Communion which by agreement with the Pension Committee has been accepted as a member of the Lay Retirement Plan with respect to pension provision for its lay employees;
ii) "Synod" or "the General Synod" means the General Synod of The Anglican Church of Canada and "Executive Council" means the National Executive Council of such Synod;
iii) the "Committee" or the "Pension Committee" means the Committee constituted under Section 4 of Canon VIII of the General Synod;
iv) "Lay Employee" means any person not in Holy Orders, employed by a diocese, parish, school, institution, etc. which is maintained and/or sponsored by The Anglican Church of Canada;
v) "Employer" or "Institution" includes a college, hospital, home, orphanage, deaconess house, training school, refuge, mission ship, motor van, parochial corporation or vestry whether incorporated or not, conducted or maintained in whole by the Church or jointly with other Christian Churches or in which the Church or any diocese has any interest or share in the management government thereof;
vi) "Participating Diocese or Organization" means any diocese, institution or similar organization that has signified to the Pension Committee its intention of, or is otherwise required to enter its lay employees into the Lay Retirement Plan;
vii) Reserved.
viii) "Parish" means any charge, mission, congregation, or office in the Church, a diocese or Synod;
ix) Reserved.
x) Reserved.
xi) "Salary" means the basis for assessment as defined in Regulations to this Canon;
xii) "Salary-paying source" means the parish or organization employing the member;
xiii) Reserved, xiv) Reserved, xv) Reserved, xvi) Reserved, xvii) Reserved, xviii) Reserved,
xix) "Continuous Service" means the period of employment unbroken except for periods of approved leaves of absence, by any participating employer in the Plan;
xx) "Vesting" means that the employer's contribution shall be vested with the member when the member is 25 years of age or older, and has five years of continuous service; however the employer's contributions shall be vested earlier if at any time the member's age and the years of continuous service total 45, or more, at which time the employer's contributions shall be immediately vested;
2. Reserved.
3. a) There shall be a plan to provide pension benefits for lay employees who are members of the Plan who retire or who become unable to continue the exercise of their employment by reason of infirmity, accident or disease.
b) The said Plan shall be called THE LAY RETIREMENT PLAN OF THE ANGLICAN CHURCH OF CANADA, and is hereinafter referred to as the Plan. The Plan shall conform to the registration requirements of the respective governments. The Plan shall have a designated Administrator who shall be responsible for the overall operation and administration of the Plan, who may serve in the dual capacity of Administrator and Trustee.
c) The Plan shall be funded through a written Trust Agreement in Canada, governed by this Canon. The Trustees shall be named individuals resident in Canada, one of whom shall be independent to the extent that he or she is not a significant proprietor nor an employee.
d) There shall be a fund designated as THE LAY RETIREMENT FUND OF THE ANGLICAN CHURCH OF CANADA, hereinafter referred to as the Lay Retirement Fund or the Fund, for the purpose of providing benefits in accordance with this Canon and the regulations made thereunder.
e) The Fund shall be composed of the following parts:
i) THE ORDINARY FUND, being the monies contributed by way of assessments, actuarial transfers, like transactions and any other assets, together with interest, dividends, earnings, accumulations and accretions, less the amounts expended in the payment of benefits as provided by the Plan and the administrative expense thereof. The Ordinary Fund shall be used to provide the regular benefits of the Plan;
ii) THE ENDOWMENT FUND, being the amount received by way of gift, donation, bequest, devise, or any other such means, the income of which may be disbursed at the discretion of the Pension Committee as an augmentation, either general or particular of the regular benefits of the Plan;
iii) THE SPECIAL ENDOWMENT FUND, being the amounts received by way of gift, donation, bequest, or devise, the terms of which are at variance with Part (ii) above.
4. The Pension Committee as established by Canon VIII of the General Synod shall administer the Plan and the Fund.
5. The powers, authority and duties of the Committee (which may be exercised and discharged notwithstanding any vacancy in its membership) shall be:
a) to administer the system of assessments and pensions established under this Canon;
b) to appoint:
i) a Central Advisory Group from its members, and others if thought necessary, to study and deal with matters referred to that Group by the Pension Committee, and to delegate to such Group from time to time any of its powers and duties,
ii) the Administrator of the Pension Fund,
iii) a committee known as the Endowment Committee with the powers necessary for the administration of The Endowment Fund. This Endowment Committee shall be qualified as a charitable organization within the meaning of the Income Tax Act,
iv) an actuary or actuaries,
v) auditors;
c) i) to establish a Board of Trustees which shall consist of the Primate; the Treasurer of the General Synod; the Administrator of the Plan; and five additional members chosen by the Pension Committee, not necessarily members of the Pension Committee or of the General Synod;
ii) members of the Board of Trustees shall be appointed for a three year term and shall be eligible for appointment for an additional three years. After the lapse of three years, a Trustee shall be eligible for two further three year terms;
iii) the date of appointment of a Trustee shall be June 1st in the year the appointment is made;
iv) an appointment to fill a vacancy shall be to complete the unexpired term of the former Trustee. Such appointment shall not be a barrier to a subsequent appointment under the provisions of sub-section (ii) above.
6. -BLANK-
7. The powers, authority and duties of the Pension Committee shall also be:
a) i) to make such regulations, subject to the approval of the National Executive Council, as it may deem necessary for the administration of the Plan or the Pension Fund, within the scope of Government regulations,
ii) on recommendation of the actuary, and subject to the approval of the National Executive Council, to make such regulations as to rates and bases of assessments and rates of pension as may, from time to time, be determined by the Committee,
iii) such regulations shall be laid before the General Synod at its next session for confirmation;
b) to receive and pass upon every application for benefit under this Canon and to determine all questions of eligibility;
c) to re-value the Fund at intervals of not longer than three years or such shorter period as is provided by civil law, or as recommended by the Actuary and determined by the Pension Committee;
d) to negotiate, maintain, revise and renew agreements with Pension Funds which are registered under the provisions of the civil law which has jurisdiction over them;
e) Reserved, f) Reserved.
g) to levy, enforce and receive the assessments provided for in this Canon and regulations made thereunder;
h) to resolve questions and appeals under this Canon;
i) to take such action towards stimulating interest and support for the Fund as it may deem advisable.
j) to inaugurate, participate in, and/or authorize such insurance and other plans as may be authorized by the General Synod or its National Executive Council.
8. a) The Pension Committee shall appoint and define the duties of such officers and employees as may be necessary for the purpose of administering this Canon and its regulations; and determine their terms of reference and remuneration. The appointment or employment of such persons and their salaries shall be subject to the approval of the General Synod or National Executive Council or other authority as directed by the National Executive Council.
b) The expenses of administration of the Plan shall be a charge on the Pension Fund.
c) The Committee shall make an annual report to the General Synod or its National Executive Council, such reports to include financial statements of the Fund showing receipts and payments therefrom, together with the report of the auditor.
d) Notwithstanding any other provision of this Canon or of any regulation made thereunder, should the Parliament of Canada or the Legislature of any Province pass any law which is at variance with this Canon or the regulations made thereunder, the said law shall take precedence, and until such time as amendments may be prepared and canonically approved, the relevant requirements of the civil law shall apply to this Canon and the regulations made thereunder and the Pension Committee shall administer the Plan and Fund as if the said requirements of civil law were incorporated into this Canon.
9. The benefits conferred by this Canon or its regulations shall be incapable of being assigned by any instruments or act inter vivos or of being charged, pledged, hypothecated or anticipated and the same shall not pass to any Trustee in bankruptcy of the lay worker who was entitled to the same.
10. With the approval of the General Synod or the National Executive Council the Pension Committee shall have the power on the recommendations of counsel and with the advice of the actuary, to incorporate the Plan under the laws of the Government of Canada, or of any of the provinces thereof, and this Canon and the regulations made thereunder shall form part of the constitution and by-laws of such corporation.
11. Save as proposed by the Pension Committee, no amendment to this Canon or the regulations made thereunder relating to increased benefits shall be voted upon, or enacted by the General Synod or its National Executive Council, unless eight months' notice thereof shall have been given to the Pension Committee, and no motion to amend this Canon or its regulations shall be considered unless the Pension Committee certifies that the funds to implement such amendment are available in the Pension Fund or, in the alternative, some other source of such funds is specified in such motion.
12. The members of the Plan, may in accordance with any regulation made in regard thereto, deposit amounts in excess of those prescribed by the regulations as the canonical assessments.
Regulations governing the operation of the Lay Retirement Plan can be obtained from: The Pension Office, Anglican Church of Canada, 600 Jarvis Street, Toronto, Ontario, M4Y 2J6, CARRIED IN ALL ORDERS Act 53
Subjects
Anglican Church of Canada. General Synod. Constitution. Canon IX
Pensions - Anglican Church of Canada
Anglican Church of Canada - Employees
Laity - Anglican Church of Canada
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