1.2 Canon VIII Amendments - General Synod Pension Plan #10-03-02-11 - General Synod Archives

Text of motion: 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).; <14.7 No additional contributions may be made pursuant to this Regulation 14 on or after January 1, 2003.; 14.8 In the event that the total contributions made by or on behalf of any Member in any year after 1990 exceeded, as a result of additional contributions made under this Regulation 14, 18% of the Member's compensation for that year as defined in the Income Tax Act (Canada), such additional contributions shall be refunded to the Member to the extent necessary to avoid the revocation of the Plan's registration under the Income Tax Act (Canada)>." CARRIED #08-11-02

Subjects: Pensions - Anglican Church of Canada; Anglican Church of Canada. General Synod. Constitution. Canon VIII