8Continuation
of Public Service Management Pension Plan
9.1Revocation
of delegation where delegate discontinued
9.2Collection
and disclosure of information
Schedule
1 - Local Authorities Pension Plan Provisions
1Interpretation
2Continuation of Local
Authorities Pension Plan
3Local Authorities
Pension Plan Board of Trustees
4Local Authorities
Pension Plan rules
5Actuarial valuation report and current service funding
6Local
Authorities Pension Plan Fund
7Trust
relationship to LAPP fund
8Contributions,
accretion, benefits and costs
10Effect
of elimination of pre‑1992 unfunded liability
11Review
of administrative decisions
12Regulations
establishing provisions of a legislative nature
14Withdrawal
of employer from Plan
14.1Withdrawal
of ineligible employers
15Termination
of the whole Plan
Schedule
2 - Public Service Pension Plan Provisions
1Interpretation
2Continuation
of Public Service Pension Plan
3Public
Service Pension Board
4Public
Service Pension Plan Rules
5Actuarial
valuation report and current service funding
6Public
Service Pension Plan Fund
7Trust
relationship to PSPP fund
8Contributions,
accretion, benefits and costs
9Unfunded
liabilities for pre‑1992 recognized
service, and additional contributions
10Effect
of elimination of pre‑1992 unfunded liability
11Review
of administrative decisions
12Regulations
establishing provisions of a legislative
nature
13Trusteeship
Schedule
3 - Universities Academic Pension Plan Provisions
1Interpretation
2Continuation
of Universities Academic Pension Plan
3Universities
Academic Pension Board
4Universities
Academic Pension Plan rules
5Actuarial
valuation report and current service funding
6Universities
Academic Pension Plan Fund
7Trust
relationship to UAPP fund
8Contributions,
accretion, benefits and costs
9Unfunded
liabilities for pre‑1992 recognized
service, and additional contributions
10Effect
of elimination of pre‑1992 unfunded liability
11Review
of administrative decisions
12Regulations
establishing provisions of a legislative nature
14Withdrawal
of employers from Plan
15Termination
of whole Plan
Schedule
4 - Special Forces Pension Plan Provisions
1Interpretation
2Continuation
of Special Forces Pension Plan
3Special
Forces Pension Board
4Special
Forces Pension Plan rules
5Actuarial
valuation report and current service
funding
6Special
Forces Pension Plan Fund
6.1Special
Forces Pension Indexing Fund
6.2Transfer
from indexing fund
7Trust
relationship to SFPP funds
8Contributions,
accretion, benefits and costs
9Unfunded
liabilities for pre‑1992 recognized
service, and additional contributions
10Effect
of elimination of pre‑1992 unfunded liability
11Review
of administrative decisions
12Regulations
establishing provisions of a legislative nature
Schedule
5 - Management Employees Pension Plan Provisions
1Interpretation
2Continuation
of part of PSMPP into this Plan
2.1Pensionable
service
3Management
Employees Pension Board
4Management
Employees Pension Plan rules
5Actuarial
valuation report and current
service funding
6Management
Employees Pension Plan Fund
7Trust
relationship to MEPP fund
8Contributions,
accretion, benefits and costs
9Unfunded
liabilities for pre‑1992 recognized service, and additional
contributions
10Review
of administrative decisions
12Regulations
establishing provisions of a legislative nature
Schedule
6 - Public Service Management (Closed Membership)
Pension Plan Provisions
1Definitions
2Continuation
of coverage from PSMPP and membership
2.1Pensionable
service
3Board
members
3.1Continuation
of rights and liabilities
5Actuarial
valuation report
6Public
Service Management (Closed
Membership) Pension Plan Fund
7Trust
relationship to PSM(CM)PP Fund
8Accretion
and benefits
9Crown
guarantee
11Review
of administrative decisions
11.1COLAs
12Regulations
HER MAJESTY, by and with
the advice and consent of the Legislative Assembly of Alberta, enacts as
follows:
Division of Act
1 Apart from sections 1 to 9.2, this Act is
divided into
(a)Schedule
1, containing part of the Local Authorities Pension Plan and other provisions
relating to that pension plan,
(b)Schedule
2, containing part of the Public Service Pension Plan and other provisions relating
to that pension plan,
(c)Schedule
3, containing part of the Universities Academic Pension Plan (which Plan has
had its assets and liabilities transferred to a pension plan regulated under
the Employment Pension Plans Act and is about to be terminated formally)
and other provisions relating to that pension plan,
(d)Schedule
4, containing part of the Special Forces Pension Plan and other provisions
relating to that pension plan,
(e)Schedule
5, containing part of the Management Employees Pension Plan and other
provisions relating to that pension plan, and
(f)Schedule 6, containing all or part of the
Public Service Management (Closed Membership) Pension Plan and other provisions
relating to that pension plan.
RSA 2000 cP‑41
s1;2003 c19 s42;2003 c42 s14
Interpretation
2(1) In this Act, “Crown” means the Crown in right
of the Province of Alberta, as such.
(2) To
enhance the readability of the Schedules and the capacity for cross‑referencing,
provisions in different Schedules that are identical or similar or that
correspond to each other as they relate to different pension plans are given
identical or almost identical enactment numberings and letterings, even if this
means breaking the normal sequential numbering and lettering system for
statutes.
(3) References in the Schedules to a specific
section “of this Act” are to a section of this Act preceding Schedule 1.
1993 cP‑30.7 s2
Application to Alberta
Crown
3 This Act binds the Crown.
1993 cP‑30.7 s3
Income Tax Act
registration
4 It is the intent of this Act
that the pension plans referred to in section 1 be and remain registered
pension plans under the Income Tax Act
(Canada).
1993 cP‑30.7 s4
Plan costs
5(1) The Minister, after consulting with the
relevant Board, shall establish the charge for the administration of each Plan
with respect to each fiscal year, and the amount so charged is that Plan’s plan
costs for that year.
(2) to
(9) Repealed 1995 c26 s2.
(10) Definitions
in the Schedules taken together or in one of the Schedules apply to expressions
used in this section.
(11) The Management Employees Pension Board
established by Schedule 5 shall act as the Board of the Public Service
Management (Closed Membership) Pension Plan for the purposes of this section.
1993 cP‑30.7
s5;1995 c26 s2
Application of
Employment Pension Plans Act
6 The Lieutenant Governor in
Council may make regulations for the purposes described in section 3 of the Employment Pension Plans Act.
1993 cP‑30.7 s6
Regulations under the
Schedules
7 Regulations under section 12
of Schedules 1 to 5 may be made generally to apply to all or to several of the
pension plans referred to in section 1(a) to (e).
1993 cP‑30.7 s7
7.1 Omitted but not repealed by Revision.
Continuation of Public
Service Management Pension Plan
8 The Public Service Management Pension
Plan is divided into, and continued as,
(a)the
Management Employees Pension Plan under and subject to sections 1 to 12,
Schedule 5 and the regulations and plan rules under Schedule 5, and
(b)the Public Service Management (Closed
Membership) Pension Plan under and subject to sections 1 to 12, Schedule 6 and
any regulations under Schedule 6.
1993 cP‑30.7 s8
9 Repealed by Revision.
Revocation of delegation
where delegate discontinued
9.1 If some or all of a Plan’s administration
functions are delegated by or under regulations made under section 12(b) or
12(1)(b) of a Schedule to a Provincial corporation within the meaning of the Financial Administration Act and that
corporation becomes discontinued as a result of the application of section 82
of that Act, then, notwithstanding anything in that Act, the delegation is
automatically revoked by this section unless the subject‑matter of the
delegation has previously been otherwise dealt with.
1995 c26 s3
Collection and disclosure
of information
9.2(1) In this section,
(a)“employment”
includes former employment;
(b)“employment
information” means, with respect to a particular Plan, personal information
within the meaning of the Freedom of
Information and Protection of Privacy Act that
(i)relates to pensions and other benefits and to participants’ and
former participants’ employment, and
(ii)has a reasonable and direct connection to the administration of
pensions and other benefits
but, as regards the
collection by or the disclosure to an employer of any such information, is
restricted to information about participants and former participants who are or
were employed by that particular employer and related benefits;
(c)“prescribed”
means provided for by regulations made under subsection (7).
(2) The
Minister is authorized to collect employment information from, and to disclose
it to,
(a)the
specific participant or former participant to whom the information relates,
(b)employers,
(c)the
relevant Board, and
(d)any
other prescribed body or person.
(3) The
relevant Board is authorized to collect employment information from, and to
disclose it to,
(a)the
specific participant or former participant to whom the information relates,
(b)employers,
(c)the
Minister, and
(d)any
other prescribed body or person.
(4) Employers
are authorized to collect employment information from, and to disclose it to,
(a)the
specific participant or former participant to whom the information relates,
(b)the
Minister,
(c)the
relevant Board, and
(d)any
other prescribed body or person.
(5) Where
this section gives authority to a body or person to collect employment
information from, or to disclose employment information to, a prescribed body
or person, that prescribed body or person is authorized to disclose that
employment information to, or to collect that employment information from, that
first‑mentioned body.
(6) Information
may be collected under this section from a body or person other than the
participant or former participant to whom it relates in any manner that is
agreed on between the bodies or persons collecting and providing the
information.
(7) The Lieutenant Governor in Council may make
regulations determining the bodies or persons for the purposes of subsections
(2)(d), (3)(d) and (4)(d).
1997 c23 s3
10, 11 Repealed by Revision.
Schedule 1
Local Authorities Pension
Plan Provisions
Interpretation
1(1) In this Schedule,
(a)“Board”
means the Local Authorities Pension Plan Board of Trustees established by section
3(1);
(b)“funding
requirements” means the minimum funding requirements, but excluding any
requirements for the funding of solvency deficiencies, of the Employment
Pension Plans Act and the regulations under it;
(c)“Minister”
means the Minister determined under section 16 of the Government
Organization Act as the Minister responsible for this Act;
(d)“Plan”
means the Local Authorities Pension Plan continued by section 2 and contained
partly in the applicable provisions of this Schedule and partly in the plan
rules, and includes the plan fund;
(e)“plan
costs” means the plan costs established for the Plan pursuant to section 5(1)
of this Act;
(f)“plan
fund” means the Local Authorities Pension Plan Fund established under section
6(1);
(g)“plan
rules” means the plan provisions made pursuant to sections 4 and 5(2),
including amendments or repeals and replacements of existing plan rules;
(h)“prescribed”
means prescribed or otherwise provided for by regulations made by the
Lieutenant Governor in Council under this Schedule;
(i)“regulations”
does not include the plan rules;
(i.1)“solvency
deficiencies” means a solvency deficiency within the meaning of, and as
calculated according to the methods set out in, the regulations under the Employment
Pension Plans Act;
(i.2)“solvency
funding requirements” means the prescribed requirements, if any, for funding
solvency deficiencies.
(2) Where
the plan rules define generally an expression used in this Schedule and not
defined in subsection (1), that definition applies with respect to the
interpretation of that expression unless the plan rules otherwise provide.
RSA 2000 cP‑41
Sched. 1 s1;2003 c19 s44
Continuation of Local
Authorities Pension Plan
2 The pension plan provided for
by and under the Local Authorities
Pension Plan Act, SA 1985 cL‑28.1, is continued as the Local
Authorities Pension Plan under and subject to sections 1 to 9.2 of this Act,
this Schedule, the regulations and the plan rules.
Local Authorities
Pension Plan Board of Trustees
3(1) There is hereby established a board
to be known as the “Local Authorities Pension Plan Board of Trustees”
consisting of the prescribed nominees of employees, former employees, employers
and the Crown.
(2) The
objects of the Board are
(a)to
make plan provisions by regulation to ensure that current service under the
Plan is funded in accordance with sections 5(2) and 4(3),
(b)to
make any appropriate recommendations for the amending or repealing and
replacing of plan rules under section 4(2),
(c)to
set general policy guidelines on
(i)the investment and management of the plan fund’s assets in
accordance with section 6(3) and the regulations, and
(ii)the administration of the Plan
that it considers should be
followed,
(d)to
review administrative decisions pursuant to any delegations under section 10,
and
(e)to
make recommendations pursuant to section 14(3), and, if applicable, section
15(2).
(3) Members
of the Board, while acting as such, shall comply with, and are bound by, any
prescribed provisions respecting conflicts of interest, and persons who
contravene this subsection are liable to the penalties prescribed.
(4) The
Board and its members have the powers, duties, liabilities and immunities
prescribed and those set out in this Schedule.
(5) Plan
rules referred to in subsection (2)(a) may be integrated with the plan rules
made by the Lieutenant Governor in Council.
(6) The
guidelines referred to in subsection (2)(c) are exempt from the Regulations Act.
Local Authorities
Pension Plan rules
4(1) The Lieutenant Governor in Council
shall by regulation establish those plan provisions that are to be included in
the Plan from the time of its continuation by this Schedule and that are not
fully provided for in this Schedule, including plan provisions respecting
(a)participation,
(b)contributions,
(c)pensionable
service,
(d)benefits,
including suspensions of pensions and adjustments to pensions relating to the
cost of living,
(e)the
allowing and charging of interest,
(f)reciprocal
agreements, other than affecting another pension plan established or continued
by Alberta legislation,
(g)beneficiaries,
and
(h)the
bases for actuarial adjustments.
(2) Notwithstanding
any other law, the Lieutenant Governor in Council may amend or repeal and replace
existing plan rules only on the Board’s recommendation.
(3) Where
the Lieutenant Governor in Council makes any plan rules under subsection (2)
that result in an improvement in benefits, the Board shall, if necessary, make
adjustments to contribution rates that meet the requirements of section 5(2).
(4) Where
a recommendation made under subsection (2) would, if adopted, have the effect
of changing any of the Plan’s benefits,
(a)the
recommendation must be approved by the Board in the manner prescribed, and
(b)the
Board shall advise the Minister of the impact of the proposed change on the
Plan’s funded status, solvency deficiencies and current service contribution
rates.
(5) Notwithstanding
anything in this Schedule, the Lieutenant Governor in Council hasno authority to make plan rules on a matter
respecting which the plan rule-making authority is given by this Schedule to
the Board.
(6) The
plan rules are subject to the regulations as well as to this Schedule.
(6.1) To
the extent, if any, that is prescribed, a provision of the plan rules may be
made to apply with effect from a date that is prior to that on which they are
filed under the Regulations Act.
(7) To
avoid any possible doubt, plan rules are regulations under the Regulations Act.
RSA 2000 cP‑41
Sched. 1 s4;2003 c19 s44
Actuarial valuation
report and current service funding
5(1) The Board shall have an actuarial
valuation of the Plan performed, and a report on that valuation prepared, by
the Plan’s actuary at least once every 3 years.
(1.1) The actuarial valuation report must
include a calculation of the Plan’s solvency deficiencies, if any.
(2) The
Board shall, if necessary, within a reasonable time after receiving the report,
make plan provisions, following the recommendations of the Plan’s actuary in
the report, adjusting either or both the employer and employee contribution
rates for current service so that those rates will meet or exceed the funding
requirements and, if applicable, the solvency funding requirements.
RSA 2000 cP‑41
Sched. 1 s5;2003 c19 s44
Local Authorities
Pension Plan Fund
6(1) The Minister of Finance shall hold
and administer the Local Authorities Pension Plan Fund in accordance with this
Schedule and the regulations.
(2) All
the assets of the Plan are to be held in, and all its liabilities are to be
assumed by, the plan fund.
(3) The
Minister of Finance shall, following the general policy guidelines made for the
purposes of section 3(2)(c),
(a)invest
the assets of the plan fund in accordance with the Employment Pension Plans Act and the regulations under it
notwithstanding anything to the contrary in the Financial Administration Act, and
(b)manage
those assets
for the sole benefit
of the persons entitled to benefits under the Plan.
(4), (5) Repealed by Revision.
RSA 2000 cP‑41
Sched. 1 s6;2005 c26 s55
Trust relationship to
LAPP fund
7(1) Notwithstanding the name of the
Board, the Minister of Finance shall hold all the assets of the plan fund in
trust for the sole purposes of providing benefits pursuant to the Plan and
meeting plan costs and the costs, if any, referred to in section 15(4).
(2) The
assets of the plan fund belong beneficially to the persons entitled to benefits
under the Plan.
(3) The
Crown has no claim to any of the assets of the plan fund and shall not apply or
allow the diversion of any of those assets for any purpose not mentioned in
subsection (1).
RSA 2000 cP‑41
Sched. 1 s7;2005 c26 s55
Contributions,
accretion, benefits and costs
8(1) The Minister of Finance shall
deposit all contributions to the Plan, with interest, if any, paid on them,
into the plan fund directly on receiving them.
(2) All
income of and all appreciation and depreciation in the value of the assets of
the plan fund accrue to the plan fund.
(3) The
Minister of Finance shall pay from the plan fund the benefits under the Plan
and the plan costs and, if applicable, costs referred to in section 15(4).
RSA 2000 cP‑41
Sched. 1 s8;2005 c26 s55
9Repealed 1999 c13 s2.
Effect of elimination of
pre-1992 unfunded liability
9.1The actuarial valuation prepared as at
December 31, 1997 having shown that the Plan's unfunded liability referred to
in section 9, before its repeal, was eliminated as at that date, the Crown has no
further liability in respect of that unfunded liability.
Review of administrative
decisions
10Without limiting the Minister's prescribed
responsibilities for the administration of the Plan, the Minister may in
writing delegate to the Board the power to review those administrative
decisions of the Minister that are specified in the delegation.
11Omitted but not repealed by Revision.
Regulations establishing
provisions of a legislative nature
12 The Lieutenant Governor in
Council may, after consulting with the Board, make regulations establishing
provisions of a legislative nature that do not form part of the Plan
(a)respecting
remuneration and expenses payable to members of the Board and respecting their
selection,
(b)respecting
the administration of the Plan, including provisions delegating or allowing the
delegation of some or all of the Plan’s administration and respecting any
contracts with respect to any such delegation,
(c)respecting
the plan fund, including the management and investment of its assets,
(d)respecting
the auditing of the Plan and the plan fund,
(e)respecting
reporting and the disclosure of information about the Plan,
(f)imposing
obligations on employers to facilitate the administration of the Plan,
(g)exempting
interests in benefits from garnishee proceedings, attachment, seizure or legal
process,
(g.1)respecting
the transfer of pension entitlements between the Plan and another pension plan
established or continued by Alberta legislation,
(h)establishing
such provisions of a legislative nature as are considered to be requisite or
advisable so as to give full effect to the Plan or to be sound law in the field
of pensions, and
(i)prescribing
any matter or thing that by this Schedule may be or is to be prescribed.
13Repealed 1999 c13 s6.
Withdrawal of employer
from Plan
14(1) In this section, “another plan” or
“the other plan” means a registered pension plan, other than the Plan,
established by the withdrawing employer and to which the Employment Pension Plans Act applies.
(2) An
employer may withdraw from participation in, and cease to be an employer for
the purposes of, the Plan and have a portion of the Plan’s liabilities and
assets transferred to another plan if the conditions set out in and the
requirements of this section are met.
(3) Repealed
by Revision.
(4) The
Lieutenant Governor in Council, on the recommendation of the Minister, may make
regulations, which treat all employers in an even‑handed manner,
establishing
(a)the
bases for withdrawals under this section,
(b)the
method by which withdrawals under this section are to be made, and
(c)other
terms and conditions for those withdrawals.
(5) Before
any assets are transferred under this section, the withdrawing employer and the
legal owners of the pension fund of the other plan must indemnify the Crown in
a written form acceptable to the Minister with respect to any claims that may
be made by any person that arise directly or indirectly from the withdrawal.
(5.1) Any
liability under an indemnity given under subsection (5) by the other pension
fund’s legal owners is only required to be met from that pension fund itself.
(6) Repealed
1999 c13 s2.
(7) The
Crown is to have no liability in respect of benefits to be provided by the
other plan, and the pension fund of the other plan is to assume all such
liability.
(8) On
the transfer of the assets and liabilities, all the rights of the withdrawing
employer and its employees in relation to the Plan are extinguished.
Withdrawal of ineligible
employers
14.1(1) Notwithstanding anything in section
14 to the contrary, the Lieutenant Governor in Council may make regulations,
which need not comply with section 14, providing in effect for the withdrawal
of employers referred to in subsection (2) from the Plan to another registered
pension plan to which the Employment
Pension Plans Act or, if applicable, the Pension Benefits Standards Act, 1985 (Canada) applies.
(2) An
employer referred to in subsection (1) is one that the Minister, after
consulting with the Board, determines will become ineligible to continue to
participate in the Plan as an employer.
(3) The
regulations made under subsection (1) must provide for
(a)the
employers’ withdrawal from participation in, and their ceasing to be employers
for the purposes of, the Plan,
(b)the
transfer to the other plan of a portion of the Plan’s liabilities and assets,
and
(c)the
basis for the withdrawal, the method by which it is to be made and the terms
and conditions for it.
(4) Section
14(5) to (8) apply with respect to the withdrawal.
(5) Notwithstanding
subsection (4), the regulations may provide that a corporation or other
business entity that is related to an employer referred to in subsection (2)
and that is approved for the purposes of this subsection by the Minister may
give the indemnity referred to in section 14(5), instead of that employer.
Termination of the whole
Plan
15(1) In this section,
(a)“another
plan” or “the other plan” means a registered pension plan, other than the Plan,
developed on the authorization of employers pursuant to subsection (4) and to
which the Employment Pension Plans Act
will apply or applies;
(b)“transfer”
means the transfer under this section to the other plan’s pension fund of the
liabilities and assets of the Plan relating to the terminating employers joining
the other plan.
(2) The
Board may, by a resolution passed by a majority of at least 75% of all Board
members referred to in section 3(1) who are nominees of employees, former
employees or employers, including a majority of the employees’ nominees and a
majority of the employers’ nominees, recommend to the Minister that the whole
Plan be terminated.
(3) Before
passing the resolution, the Board must satisfy itself that the proposed
recommendation has the support of persons receiving pensions under the Plan.
(4) After
the Board has made a recommendation meeting the requirements of subsections (2)
and (3) and if the Board is authorized by a majority of employers who employ at
least 50% of the Plan’s participants to develop a plan that will not be established
by legislation, the Lieutenant Governor in Council shall make regulations
allowing the charging to the plan fund of costs incurred in developing that
plan.
(5) Those
employers who do not wish to join the other plan must be given the opportunity
to withdraw from the Plan under section 14 before the whole Plan is terminated.
(6) Before
a transfer is made, the terminating employers and the legal owners of the
pension fund of the other plan must indemnify the Crown in a written form
acceptable to the Minister with respect to any claims that may be made by any
person that arise directly or indirectly from the termination.
(6.1) Any
liability under an indemnity given under subsection (6) by the other pension
fund’s legal owners is only required to be met from that pension fund itself.
(7) Repealed
1999 c13 s2.
(8) The
Crown is to have no liability in respect of benefits to be provided by the
other plan, and the pension fund of the other plan is to assume all such
liability.
(9)The Lieutenant Governor in Council may make
regulations establishing any further conditions of the transfer and may
subsequently, if those conditions and subsections (5) and (6) have been met,
authorize the transfer.
(10) On
the transfer, all the rights of the terminating employers and their employees
in relation to the Plan are extinguished.
(11) If
this section has been complied with, the Lieutenant Governor in Council may
terminate the whole Plan one year after the Board has made a recommendation
meeting the requirements of subsections (2) and (3), or at any time afterwards.
(12) Repealed
by Revision.
(13) On the termination, this Schedule ceases to
have any force except to the extent that any provisions of the Schedule are
needed to apply the terms and conditions of the termination.
Schedule 2
Public Service Pension
Plan Provisions
Interpretation
1(1) In this Schedule,
(a)“Board”
means the Public Service Pension Board established by section 3(1);
(b)“funding
requirements” means the minimum funding requirements, but excluding any
requirements for the funding of solvency deficiencies, of the Employment
Pension Plans Act and the regulations under it;
(c)“Minister”
means the member of the Executive Council charged by the Lieutenant Governor in
Council with the administration of this Schedule;
(d)“Plan”
means the Public Service Pension Plan continued by section 2 and contained
partly in the applicable provisions of this Schedule and partly in the plan
rules, and includes the plan fund;
(e)“plan
costs” means the plan costs established for the Plan pursuant to section 5(1)
of this Act;
(f)“plan
fund” means the Public Service Pension Plan Fund referred to in section 6(1);
(g)“plan
rules” means the plan provisions made pursuant to sections 4, 5(2) and 9(6),
including amendments or repeals and replacements of existing plan rules;
(h)“prescribed”
means prescribed or otherwise provided for by regulations made by the
Lieutenant Governor in Council under this Schedule;
(i)“regulations”
does not include the plan rules;
(i.1)“solvency
deficiencies” means a solvency deficiency within the meaning of, and as
calculated according to the methods set out in, the regulations under the Employment
Pension Plans Act;
(i.2)“solvency
funding requirements” means the prescribed requirements, if any, for funding
solvency deficiencies;
(j)“trustee”
means the Minister of Finance or, subject to section 16(4)(b), the Board,
depending on who is the trustee of the Plan by virtue of the application of
section 16.
(2) Where
the plan rules define generally an expression used in this Schedule and not
defined in subsection (1), that definition applies with respect to the
interpretation of that expression unless the plan rules otherwise provide.
2 The pension plan provided for
by and under the Public Service Pension
Plan Act, SA 1984 cP‑35.1, is continued as the Public Service Pension
Plan under and subject to sections 1 to 9.2 of this Act, this Schedule, the
regulations and the plan rules.
Public Service Pension
Board
3(1) There is hereby established a board
to be known as the “Public Service Pension Board” consisting of the persons
prescribed.
(2) The
objects of the Board are
(a)to
make plan provisions by regulation to ensure that current service under the
Plan is funded in accordance with sections 5(2) and 4(3) and to set the “total
required” for the purposes of section 9,
(b)to
make any appropriate recommendations for the amending or repealing and
replacing of plan rules under section 4(2),
(c)to
set general policy guidelines on
(i)the investment and management of the plan fund’s assets in
accordance with section 6(3) and the regulations, and
(ii)the administration of the Plan
that it considers should be
followed, and
(d)to
review administrative decisions pursuant to any delegations under section 10.
(3) Members
of the Board, while acting as such and whether or not they are acting in the
capacity of trustees, shall comply with, and are bound by, any prescribed
provisions respecting conflicts of interest, and persons who contravene this
subsection are liable to the penalties prescribed.
(4) The
Board and its members have the powers, duties, liabilities and immunities
prescribed and those set out in this Schedule in addition to any that are
inherent in their positions, if applicable, as trustees.
(5) Plan
rules referred to in subsection (2)(a) may be integrated with the plan rules
made by the Lieutenant Governor in Council.
(6) The
guidelines referred to in subsection (2)(c) are exempt from the Regulations Act.
Public Service Pension
Plan rules
4(1) The Lieutenant Governor in Council
shall by regulation establish those plan provisions that are to be included in
the Plan from the time of its continuation by this Schedule and that are not
fully provided for in this Schedule, including plan provisions respecting
(a)participation,
(b)contributions,
(c)pensionable
service,
(d)benefits,
including suspensions of pensions and adjustments to pensions relating to the
cost of living,
(e)the
allowing and charging of interest,
(f)reciprocal
agreements, other than affecting another pension plan established or continued
by Alberta legislation,
(g)beneficiaries,
and
(h)the
bases for actuarial adjustments.
(2) Notwithstanding
any other law, the Lieutenant Governor in Council may amend or repeal and
replace existing plan rules only on the Board’s recommendation.
(3) Where
the Lieutenant Governor in Council makes any plan rules under subsection (2)
that result in an improvement in benefits, the Board shall, if necessary, make
adjustments to contribution rates that meet the requirements of section 5(2).
(4) Where a recommendation made under
subsection (2) would, if adopted, have the effect of changing any of the Plan’s
benefits, the Board shall advise the Minister of the impact of the proposed
change on the Plan’s funded status, solvency deficiencies and current service
contribution rates.
(5) Notwithstanding
anything in this Schedule, the Lieutenant Governor in Council hasno authority to make plan rules on a matter
respecting which the plan rule‑making authority is given by this Schedule
to the Board.
(6) The
plan rules are subject to the regulations as well as to this Schedule.
(6.1) To
the extent, if any, that is prescribed, a provision of the plan rules may be
made to apply with effect from a date that is prior to that on which they are
filed under the Regulations Act.
(7) To
avoid any possible doubt, plan rules are regulations under the Regulations Act.
RSA 2000 cP‑41
Sched. 2 s4;2003 c19 s45
Actuarial valuation
report and current service funding
5(1) The Board shall have an actuarial
valuation of the Plan performed, and a report on that valuation prepared, by
the Plan’s actuary at least once every 3 years.
(1.1) The actuarial valuation report must
include a calculation of the Plan’s solvency deficiencies, if any.
(2) The
Board shall, if necessary, within a reasonable time after receiving the report,
make plan provisions, following the recommendations of the Plan’s actuary in
the report, adjusting either or both the employer and employee contribution
rates for current service so that those rates will meet or exceed the funding
requirements and, if applicable, the solvency funding requirements.
RSA 2000 cP‑41
Sched. 2 s5;2003 c19 s45
Public Service Pension
Plan Fund
6(1) The Minister of Finance shall hold
and administer the Public Service Pension Plan Fund in accordance with this
Schedule and the regulations.
(2) All
the assets of the Plan are to be held in, and all its liabilities are to be
assumed by, the plan fund.
(3) The
trustee shall, following the general policy guidelines made for the purposes of
section 3(2)(c),
(a)invest
the assets of the plan fund in accordance with the Employment Pension Plans Act and the regulations under it
notwithstanding anything to the contrary in the Financial Administration Act, and
(b)manage
those assets
for the sole benefit
of the persons entitled to benefits under the Plan.
(4), (5) Repealed
by Revision.
RSA 2000 cP‑41
Sched. 2 s6;2005 c26 s55
Trust relationship to
PSPP fund
7(1) The Plan is to have a trustee, who
shall hold all the assets of the plan fund in trust for the sole purposes of
providing benefits pursuant to the Plan and meeting plan costs.
(2) The
assets of the plan fund belong beneficially to the persons entitled to benefits
under the Plan.
(3) The
Crown has no claim to any of the assets of the plan fund and shall not apply or
allow the diversion of any of those assets for any purpose not mentioned in
subsection (1).
Contributions,
accretion, benefits and costs
8(1) The trustee shall deposit all
contributions to the Plan, with interest, if any, paid on them, into the plan
fund directly on receiving them.
(2) All
income of and all appreciation and depreciation in the value of the assets of
the plan fund accrue to the plan fund.
(3) The
trustee shall pay from the plan fund the benefits under the Plan and the plan
costs.
Unfunded liabilities for
pre‑1992 recognized service, and
additional contributions
9(1) This section and section 9.1 apply
only with respect to the Plan’s unfunded liability in respect of service that
was recognized as pensionable service, and the benefits that were in place, as
at December 31, 1991.
(2) The
Plan’s unfunded liability is to be met by the imposition of additional
contributions under this section.
(3) The
Minister shall ensure that a separate accounting is made and maintained in
respect of the unfunded liability, including the application of the additional
contributions.
(4) Repealed
by Revision.
(5) The additional contributions to be
paid annually are as follows:
(a)by
the Crown, additional contributions in the aggregate amount of 62.50% of the
total required;
(b)by
the employers, additional contributions, based as between different employers
proportionately on the pensionable salaries of all participants who are
employees of a particular employer, in the aggregate amount of 18.75% of the
total required;
(c)by
the participants, additional contributions, based as between individual
participants proportionately on each person’s pensionable salary, in the
aggregate amount of 18.75% of the total required.
(6) The
Board shall have
(a)the
unfunded liability, and
(b)the
aggregate amount of the annual additional contributions required in the years
before the next actuarial valuation in order to ensure the elimination of the
Plan’s unfunded liability on or before December 31, 2036,
re‑determined by
the Plan’s actuary at each actuarial valuation under the Plan, and the Board
shall make plan provisions establishing the amount referred to in clause (b),
and specifying the contribution rates payable under subsection (5)(a), (b) and
(c).
(7) In
subsection (5),
(a)“pensionable
salary” and “pensionable salaries” have the meaning given to them by the plan
rules;
(b)“total
required” means the aggregate amount of the annual additional contributions
required, as established by plan rules under subsection (6).
(8) The
re‑determination by the Plan’s actuary under subsection (6) must be made
with the agreement of the Minister.
(9) The
plan rules under subsection (6) must ensure that the additional contribution
requirements of that subsection meet or exceed the funding and solvency
requirements except only for the extended period for the elimination of the
unfunded liability.
(10) In
subsection (1), the references to benefits that were in place as at December
31, 1991 are to be taken as including any cost‑of‑living
adjustments initially provided by plan rules made specifically under section
4(1)(d) with regard to those benefits.
(11) Subject
to this section, the Crown as such has no liability in respect of the unfunded
liability.
(12) Notwithstanding
section 5(1), the Board shall, when so requested by the Minister, have an
actuarial valuation of the Plan performed, and a report on that valuation
prepared, in respect of the unfunded liability and the service and benefits
referred to in subsection (1).
(13) The
Minister of Finance shall advance money from the General Revenue Fund to make
all payments of additional contributions required by subsection (5)(a) to be
paid by the Crown.
RSA 2000 cP‑41
Sched. 2 s9;2005 c26 s55
Effect of elimination of
pre-1992 unfunded liability
9.1 If an actuarial valuation
referred to in section 9 shows that the Plan’s unfunded liability has been
eliminated as at the effective date of the valuation, then, with respect to any
period after that date,
(a)any
additional contributions paid are to be considered for the purposes of the plan
rules as contributions in excess of what was payable and dealt with
accordingly,
(b)the
Crown has no further liability in respect of that unfunded liability, and
(c)section
9, other than section 9(1), is to be regarded as having no effect.
Review of administrative
decisions
10 Without limiting the
Minister’s prescribed responsibilities for the administration of the Plan, the
Minister may in writing delegate to the Board the power to review those
administrative decisions of the Minister that are specified in the delegation.
11 Omitted but not repealed by
Revision.
Regulations establishing
provisions of a legislative nature
12 The Lieutenant Governor in
Council may, after consulting with the Board, make regulations establishing
provisions of a legislative nature that do not form part of the Plan
(a)respecting
remuneration and expenses payable to members of the Board and respecting their
selection,
(b)respecting
the administration of the Plan, including provisions delegating or allowing the
delegation of some or all of the Plan’s administration and respecting any
contracts with respect to any such delegation,
(c)respecting
the plan fund, including the management and investment of its assets,
(d)respecting
the auditing of the Plan and the plan fund,
(e)respecting
reporting and the disclosure of information about the Plan,
(f)imposing
obligations on employers to facilitate the administration of the Plan,
(g)exempting
interests in benefits from garnishee proceedings, attachment, seizure or legal
process,
(g.1)respecting
the transfer of pension entitlements between the Plan and another pension plan
established or continued by Alberta legislation,
(h)establishing
such provisions of a legislative nature as are considered to be requisite or
advisable so as to give full effect to the Plan or to be sound law in the field
of pensions,
(i)prescribing
any matter or thing that by this Schedule may be or is to be prescribed, and
(j)establishing
general terms and conditions for entry to and exit from the Plan.
13Repealed 1999 c13 s6.
Trusteeship
16(1) The Board is the trustee of the
Plan.
(2) Repealed
by Revision.
(3) All
the assets and liabilities of the plan fund belong to the Board as trustee.
(4) Notwithstanding
subsection (1) but subject to subsection (7), all the Board’s duties, powers
and functions as trustee, except its legal ownership of the assets of the plan
fund, are deemed to have been delegated by it to the Minister of Finance and,
while that deemed delegation remains in force,
(a)neither
the trustee nor the individual members of the Board have any duty, power or
liability for ensuring that those duties, powers and functions deemed to have
been delegated are performed or exercised or performed or exercised properly,
and the Crown indemnifies them in that respect, and
(b)references
in this Schedule to the trustee, so far as they relate to the performance or
exercise of those duties, powers or functions, are to be taken as references to
the Minister of Finance.
(5) The
Board shall review the responsibilities of the trustee, the Minister of Finance
and the Minister approximately every 5 years from the previous review.
(6) The
Board may request the Minister of Finance in writing to cancel the deemed
delegation under this section, and the Minister of Finance may in writing
cancel it.
(7) If
the Minister of Finance cancels the deemed delegation pursuant to subsection
(6), notwithstanding anything in this Schedule to the contrary,
(a)the
Minister of Finance ceases to have any power, duty or liability, and the Board
and its members assume full responsibility, in relation to the trusteeship of
the Plan,
(b)the
Minister ceases to be the administrator of the Plan, and
(c)the
Lieutenant Governor in Council may make regulations
(i)providing for the transition to the new arrangements referred to
in clauses (a) and (b), and
(ii)providing that any provision of this Schedule ceases to apply or
modifying any such provision,
and
may make any other regulations necessary to achieve that transition, including
making the Board a corporation.
RSA 2000 cP‑41 Sched. 2 s16;2005 c26 s55
Schedule 3
Universities Academic
Pension Plan Provisions
Interpretation
1(1) In this Schedule,
(a)“Board”
means the Universities Academic Pension Board established by section 3(1);
(b)“funding
and solvency requirements” means the minimum funding and solvency requirements
set by section 48(2) and (3), and regulations made with reference to section
48(2), of the Employment Pension Plans Act;
(c)“Minister”
means the member of the Executive Council charged by the Lieutenant Governor in
Council with the administration of this Schedule;
(d)“Plan”
means the Universities Academic Pension Plan continued by section 2 and
contained partly in the applicable provisions of this Schedule and partly in
the plan rules, and includes the plan fund;
(e)“plan
costs” means the plan costs established for the Plan pursuant to section 5(1)
of this Act;
(f)“plan
fund” means the Universities Academic Pension Plan Fund established under
section 6(1);
(g)“plan
rules” means the plan provisions made pursuant to sections 4, 5(2) and 9(6),
including amendments or repeals and replacements of existing plan rules;
(h)“prescribed”
means prescribed or otherwise provided for by regulations made by the
Lieutenant Governor in Council under this Schedule;
(i)“regulations”
does not include the plan rules.
(2) Where
the plan rules define generally an expression used in this Schedule and not
defined in subsection (1), that definition applies with respect to the
interpretation of that expression unless the plan rules otherwise provide.
Continuation of
Universities Academic Pension Plan
2 The pension plan provided for
by and under the Universities Academic
Pension Plan Act, SA 1985 cU‑6.1, is continued as the Universities
Academic Pension Plan under and subject to sections 1 to 9.2 of this Act, this
Schedule, the regulations and the plan rules.
Universities Academic
Pension Board
3(1) There is hereby established a board
to be known as the “Universities Academic Pension Board” consisting of the
persons prescribed.
(2) The
objects of the Board are
(a)to
make plan provisions by regulation to ensure that current service under the
Plan is funded in accordance with sections 5(2) and 4(3) and to set the “total
required” for the purposes of section 9,
(b)to
make any appropriate recommendations for the amending or repealing and
replacing of plan rules under section 4(2),
(c)to
set general policy guidelines on
(i)the investment and management of the plan fund’s assets in
accordance with section 6(3) and the regulations, and
(ii)the administration of the Plan
that it considers should be
followed, and
(d)to
review administrative decisions pursuant to any delegations under section 10,
and
(e)repealed
by Revision,
(3) Members
of the Board, while acting as such, shall comply with, and are bound by, any
prescribed provisions respecting conflicts of interest, and persons who
contravene this subsection are liable to the penalties prescribed.
(4) The
Board and its members have the powers, duties, liabilities and immunities
prescribed and those set out in this Schedule.
(5) Plan
rules referred to in subsection (2)(a) may be integrated with the plan rules
made by the Lieutenant Governor in Council.
(6) The
guidelines referred to in subsection (2)(c) are exempt from the Regulations Act.
Universities Academic
Pension Plan rules
4(1) The Lieutenant Governor in Council
shall by regulation establish those plan provisions that are to be included in
the Plan from the time of its continuation by this Schedule and that are not
fully provided for in this Schedule, including plan provisions respecting
(a)participation,
(b)contributions,
(c)pensionable
service,
(d)benefits,
including suspensions of pensions and adjustments to pensions relating to the
cost of living,
(e)the allowing and charging of interest,
(f)reciprocal
agreements, other than affecting another pension plan established or continued
by Alberta legislation,
(g)beneficiaries,
and
(h)the
bases for actuarial adjustments.
(2) Notwithstanding
any other law, the Lieutenant Governor in Council may amend or repeal and
replace existing plan rules only on the Board’s recommendation.
(3) Where
the Lieutenant Governor in Council makes any plan rules under subsection (2)
that result in an improvement in benefits, the Board shall, if necessary, make
adjustments to contribution rates that meet the requirements of section 5(2).
(4) Where
a recommendation made under subsection (2) would, if adopted, have the effect
of changing any of the Plan’s benefits, the recommendation must be accompanied
with a certificate of the Board stating that the recommendation has been
approved
(a)in
writing by a majority of the total numbers of employers participating in the
Plan employing at least 75% of the Plan’s participants, and
(b)by
all those employers’ academic staff associations.
(5) Notwithstanding
anything in this Schedule, the Lieutenant Governor in Council hasno authority to make plan rules on a matter
respecting which the plan rule-making authority is given by this Schedule to
the Board.
(6) The
plan rules are subject to the regulations as well as to this Schedule.
(6.1) To
the extent, if any, that is prescribed, a provision of the plan rules may be
made to apply with effect from a date that is prior to that on which they are
filed under the Regulations Act.
(7) To
avoid any possible doubt, plan rules are regulations under the Regulations Act.
Actuarial valuation
report and current service funding
5(1) The Board shall have an actuarial
valuation of the Plan performed, and a report on that valuation prepared, by
the Plan’s actuary at least once every 3 years.
(2) The
Board shall, if necessary, within a reasonable time after receiving the report,
make plan provisions, following the recommendations of the Plan’s actuary in
the report, adjusting either or both the employer and employee contribution
rates for current service so that those rates will meet or exceed the funding and
solvency requirements.
Universities Academic
Pension Plan Fund
6(1) The Provincial Treasurer shall, not
later than October 30, 1993, establish a pension fund for the Plan, to be known
as the “Universities Academic Pension Plan Fund”, and shall hold and administer
it in accordance with this Schedule and the regulations.
(2) All
the assets of the Plan are to be held in, and all its liabilities are to be
assumed by, the plan fund.
(3) The
Provincial Treasurer shall, following the general policy guidelines made for
the purposes of section 3(2)(c),
(a)invest
the assets of the plan fund in accordance with the Employment Pension Plans Act and the regulations under it
notwithstanding anything to the contrary in the Financial Administration Act, and
(b)manage
those assets
for the sole benefit
of the persons entitled to benefits under the Plan.
(4), (5) Repealed
by Revision.
Trust relationship to
UAPP fund
7(1) The Provincial Treasurer shall hold
all the assets of the plan fund in trust for the sole purposes of providing
benefits pursuant to the Plan and meeting plan costs.
(2) The
assets of the plan fund belong beneficially to the persons entitled to benefits
under the Plan.
(3) The
Crown has no claim to any of the assets of the plan fund and shall not apply or
allow the diversion of any of those assets for any purpose not mentioned in
subsection (1).
Contributions,
accretion, benefits and costs
8(1) The Provincial Treasurer shall
deposit all contributions to the Plan, with interest, if any, paid on them,
into the plan fund directly on receiving them.
(2) All
income of and all appreciation and depreciation in the value of the assets of
the plan fund accrue to the plan fund.
(3) The
Provincial Treasurer shall pay from the plan fund the benefits under the Plan
and the plan costs.
Unfunded liabilities for
pre‑1992 recognized service, and
additional contributions
9(1) This section and section 9.1 apply
only with respect to the Plan’s unfunded liability in respect of service that
was recognized as pensionable service, and the benefits that were in place, as
at December 31, 1991.
(2) The
Plan’s unfunded liability is to be met by the imposition of additional
contributions under this section.
(3) The
Minister shall ensure that a separate accounting is made and maintained in
respect of the unfunded liability, including the application of the additional
contributions.
(4) Repealed
by Revision.
(5) The additional contributions to be
paid annually are as follows:
(a)by
the Crown, additional contributions at the rate of 1.25% of the salaries of all
participants of the Plan;
(b)by
the employers, additional contributions, based as between different employers
proportionately on the salaries of all participants who are employees of a
particular employer, in the aggregate amount of 50% of the total required;
(c)by
the participants, additional contributions, based as between individual
participants proportionately on each person’s salary, in the aggregate amount
of 50% of the total required.
(5.1) The
Crown’s liability to pay additional contributions under subsection (5)(a)
expires on December 31, 2043 unless the unfunded liability has been previously
eliminated.
(6) The
Board shall have
(a)the
unfunded liability, and
(b)the
aggregate amount of the annual additional contributions required from persons
referred to in subsection (5)(b) and (c) in the years before the next actuarial
valuation in order to ensure the elimination of the unfunded liability on or
before December 31, 2043, after taking into account the annual amount of
additional contributions payable by the Crown under subsections (5)(a) and
(5.1)
re‑determined by
the Plan’s actuary at each actuarial valuation under the Plan, and the Board
shall make plan provisions establishing the amount referred to in clause (b),
and specifying the contribution rates payable under subsection (5)(b) and (c).
(7) In
subsection (5), “total required” means the aggregate amount of the annual
additional contributions required, as established by plan rules under subsection
(6).
(8) The
re‑determination by the Plan’s actuary under subsection (6) must be made
with the agreement of the Minister.
(9) The
plan rules under subsection (6) must ensure that the additional contribution
requirements of that subsection meet or exceed
(a)the
funding and solvency requirements except only for the extended period for the
elimination of the unfunded liability, and
(b)the
prescribed conditions for the use of surpluses, if any, arising in respect of
pre‑1992 service.
(10) In
subsection (1), the references to benefits that were in place as at December
31, 1991 are to be taken as including any cost‑of‑living
adjustments initially provided by plan rules made specifically under section
4(1)(d) with regard to those benefits.
(11) Subject
to this section, the Crown has no liability in respect of the unfunded
liability.
(12) Notwithstanding
section 5(1), the Board shall, when so requested by the Minister, have an
actuarial valuation of the Plan performed, and a report on that valuation prepared,
in respect of the unfunded liability and the service and benefits referred to
in subsection (1).
(13) The
Provincial Treasurer shall advance money from the General Revenue Fund to make
all payments of additional contributions required by subsection (5)(a) to be
paid by the Crown.
Effect of elimination of
pre-1992 unfunded liability
9.1 If an actuarial valuation
referred to in section 9 shows that the Plan’s unfunded liability has been
eliminated as at the effective date of the valuation, then, with respect to any
period after that date,
(a)any
additional contributions paid are to be considered for the purposes of the plan
rules as contributions in excess of what was payable and dealt with
accordingly,
(b)the
Crown has no further liability in respect of that unfunded liability, and
(c)section
9, other than section 9(1), is to be regarded as having no effect.
Review of administrative
decisions
10 Without limiting the
Minister’s prescribed responsibilities for the administration of the Plan, the
Minister may in writing delegate to the Board the power to review those
administrative decisions of the Minister that are specified in the delegation.
11 Omitted but not repealed by
Revision.
Regulations establishing
provisions of a legislative nature
12 The Lieutenant Governor in
Council may, after consulting with the Board, make regulations establishing
provisions of a legislative nature that do not form part of the Plan
(a)respecting
remuneration and expenses payable to members of the Board and respecting their
selection,
(b)respecting
the administration of the Plan, including provisions delegating or allowing the
delegation of some or all of the Plan’s administration and respecting any
contracts with respect to any such delegation,
(c)respecting
the plan fund, including the management and investment of its assets,
(d)respecting
the auditing of the Plan and the plan fund,
(e)respecting
reporting and the disclosure of information about the Plan,
(f)imposing
obligations on employers to facilitate the administration of the Plan,
(g)exempting
interests in benefits from garnishee proceedings, attachment, seizure or legal
process,
(g.1)respecting
the transfer of pension entitlements between the Plan and another pension plan
established or continued by Alberta legislation,
(h)establishing
such provisions of a legislative nature as are considered to be requisite or
advisable so as to give full effect to the Plan or to be sound law in the field
of pensions, and
(i)prescribing
any matter or thing that by this Schedule may be or is to be prescribed.
13 Repealed 1999 c13 s6.
Withdrawal of employers
from Plan
14(1) In this section,
(a)“other
pension plans” means one or more registered pension plans, other than the Plan,
established by the withdrawing employers and to which the Employment Pension Plans Act applies;
(b)“withdrawal”
means the withdrawal of employers from the Plan under this section and includes
the consequential transfer of a portion of the liabilities and assets of the Plan
under this section.
(2) Employers
may withdraw from participation in, and cease to be employers for the purposes
of, the Plan and have a portion of the Plan’s liabilities and assets
transferred out of the Plan if the conditions set out in and the requirements
of this section are met.
(3), (4) Repealed
by Revision.
(5) The
Lieutenant Governor in Council may, on the recommendation of the Minister, make
regulations setting out the general bases on which,
(a)following
the recommendations made by the Board before December 31, 2000 under this
section, the liabilities and assets are to be apportioned, and
(b)the
liabilities and assets apportioned to the withdrawing employers are to be
transferred out of the Plan
on any future
withdrawal.
(6) Where
a withdrawal is proposed,
(a)the
withdrawing employers must have the written consent of their academic staff
associations, to the extent that such associations exist, for the withdrawal,
in the form approved by the Minister,
(b)the
withdrawing employers must give the Minister, the Board and all the other
employers at least 2 years’ written notice of their intention to withdraw or
any lesser period of notice that is agreed in writing between those employers,
the Minister and the Board,
(c)the
liabilities and assets apportioned to the withdrawing employers may be
transferred only to other pension plans,
(d)the
withdrawing employers and the legal owners of the pension funds of the other
pension plans must indemnify the Crown in a written form acceptable to the
Minister with respect to any claims that may be made by any person that arise
directly or indirectly from the withdrawal, and
(e)those
fund owners, the withdrawing employers and the Board must accept the terms and
conditions of the withdrawal established under subsections (7) and (8) in a
written form acceptable to the Minister which releases the Crown from all
liability with respect to the withdrawing employers’ relationship to the Plan
except that specified in subsection (7)(a).
(6.1) Any
liability under an indemnity given under subsection (6)(d) by the other pension
fund’s legal owners is required to be met only from that pension fund itself.
(7) Further
conditions of a withdrawal are that
(a)the
Crown is to remain liable under subsection (8)(c) with respect to the
withdrawing employers and their employees, but only so long as the withdrawing
employers and employees continue to pay the additional contributions required
by those provisions to the other pension plans and the termination must not result
in any increase in the liability that the Crown has under section 9,
(b)the
Crown is to have no liability in respect of benefits to be provided by the
other pension plans except the liability referred to in clause (a) and, with
that exception, the pension funds of the other pension plans are to assume all
such liability,
(c)the
benefits of all persons affected by the withdrawal who are currently,
prospectively or potentially entitled to benefits under the Plan accrued to the
date of withdrawal must be fully protected,
(d)all
service that counts as pensionable service for the purposes of determining
eligibility for benefits under the Plan is to count as pensionable service for
those purposes under the other pension plans, and
(e)on
the withdrawal, all the rights of the withdrawing employers and their employees
in relation to the Plan are extinguished.
(8) Where
a request for a withdrawal is made, the Lieutenant Governor in Council may, if
satisfied that subsection (6) has been complied with and the conditions under
subsection (7) are met, effectuate the withdrawal by
(a)transferring
to the other pension plans the liabilities and assets apportioned to the
withdrawing employers in accordance with the regulations made under subsection
(5),
(b)establishing
provisions that are equivalent to sections 9 and 9.1, stating the various
continuing liabilities with respect to the unfunded liability under sections 9
and 9.1 assumed by the other pension plans and the liabilities of the Crown,
the withdrawing employers and their employees to make additional contributions
to meet that assumed unfunded liability, and
(c)if
all of the employers are withdrawing or have withdrawn under this section and
all the liabilities and assets have been or are being transferred to other
pension plans, declaring that the whole Plan is terminated.
(9) On
the making of the declaration under subsection (8)(c), this Schedule ceases to
have any force except to the extent that any provisions of the Schedule are
needed to apply the terms and conditions of the withdrawal.
Termination of the whole
Plan
15(1) In this section,
(a)“other
pension plans” means one or more registered pension plans, other than the Plan,
established by the withdrawing employers and to which the Employment Pension Plans Act applies;
(b)“termination”
means the bringing about of the termination under this section of the whole
Plan, and includes the consequential transfer of the whole of the liabilities
and assets of the Plan under this section.
(2) The
Minister may bring about the termination of the whole Plan and the transfer of
the whole of the Plan’s liabilities and assets to other pension plans if the
conditions set out in and the requirements of this section are met.
(3) Repealed
by Revision.
(4) The
Lieutenant Governor in Council may, if the conditions referred to in section
14(5) are met, make regulations referred to in that subsection with respect to
termination under this section.
(5) Where
termination is proposed,
(a)the
Minister must give each employer and the Board at least 2 years’ written notice
of the proposed termination or any lesser period of notice that is agreed in
writing between the Minister, all the employers and the Board,
(b)the
liabilities and assets may be transferred only to other pension plans, and
(c)the
conditions in section 14(6)(d) and (e) apply.
(5.1) Any
liability under an indemnity given under subsection (5)(c), as it incorporates
section 14(6)(d), by the other pension fund’s legal owners is required to be
met only from that pension fund itself.
(6) The
further conditions in section 14(7) apply.
(7) In
the event of termination, the Lieutenant Governor in Council may, if satisfied
that subsection (5) has been complied with and the conditions under subsection
(6) are met, effectuate the termination by
(a)apportioning
the liabilities and assets among the employers for the purposes of that
termination in accordance with the regulations made under subsection (4),
(b)transferring
the liabilities and assets to the other pension plans in accordance with the
apportionments,
(c)establishing
provisions that are equivalent to section 9, stating the various continuing
liabilities with respect to the unfunded liability under section 9 assumed by
the other pension plans and the liabilities of the Crown, the terminating
employers and their employees to make additional contributions to meet that
assumed unfunded liability, and
(d)declaring
that the whole Plan is terminated.
(8) On the making of the declaration under
subsection (7)(d), this Schedule ceases to have any force except to the extent
that any provisions of the Schedule are needed to apply the terms and
conditions of the termination.
(a)“Board”
means the Special Forces Pension Board established by section 3(1);
(b)“funding
requirements” means the minimum funding requirements, but excluding any
requirements for the funding of solvency deficiencies, of the Employment
Pension Plans Act and the regulations under it;
(b.2)“indexing
fund” means the Special Forces Pension Indexing Fund referred to in section
6.1(1);
(c)“Minister”
means the member of the Executive Council charged by the Lieutenant Governor in
Council with the administration of this Schedule;
(d)“Plan”
means the Special Forces Pension Plan continued by section 2 and contained
partly in the applicable provisions of this Schedule and partly in the plan
rules, and includes the plan fund and the indexing fund;
(e)“plan
costs” means the plan costs established for the Plan pursuant to section 5(1)
of this Act;
(f)“plan
fund” means the Special Forces Pension Plan Fund referred to in section 6(1);
(g)“plan
rules” means the plan provisions made pursuant to sections 4 and 5(2),
including amendments or repeals and replacements of existing plan rules;
(g.1)“post‑1991
COLA benefits” means pension increases referred to in section 4(1)(j) and (9);
(g.2)“post‑1991
COLA contributions” means contributions referred to in section 4(1)(i) and (8);
(h)“prescribed”
means prescribed or otherwise provided for by regulations made by the
Lieutenant Governor in Council under this Schedule;
(i)“regulations”
does not include the plan rules;
(i.1)“solvency
deficiencies” means a solvency deficiency within the meaning of, and as
calculated according to the methods set out in, the regulations under the Employment
Pension Plans Act;
(i.2)“solvency
funding requirements” means the prescribed requirements, if any, for funding
solvency deficiencies.
(2) Where
the plan rules define generally an expression used in this Schedule and not
defined in subsection (1), that definition applies with respect to the
interpretation of that expression unless the plan rules otherwise provide.
2 The pension plan provided for
by and under the Special Forces Pension
Plan Act, SA 1985 cS‑21.1, is continued as the Special Forces Pension
Plan under and subject to sections 1 to 9.2 of this Act, this Schedule, the
regulations and the plan rules.
Special Forces Pension
Board
3(1) There is hereby established a board
to be known as the “Special Forces Pension Board” consisting of the persons
prescribed.
(2) The
objects of the Board are
(a)to
make plan provisions by regulation
(i)to ensure that current service under the Plan is funded in
accordance with sections 5(2) and 4(3), and
(ii)setting post‑1991 COLA contributions and benefits,
(b)to
make any appropriate recommendations for the amending or repealing and
replacing of plan rules under section 4(2),
(c)to
set general policy guidelines on
(i)the investment and management of
(A)the plan fund’s assets in accordance with
section 6(3), and
(B)the indexing fund’s assets in accordance
with section 6.1(3),
and the
regulations, and
(ii)the administration of the Plan
that it considers should be
followed,
(d)to
review administrative decisions pursuant to any delegations under section 10,
(f)to
authorize the transfer of any surpluses referred to in section 4(1)(k), and
(g)to
recommend transfers from the indexing fund to the plan fund under section 6.2.
(3) Members
of the Board, while acting as such, shall comply with, and are bound by, any
prescribed provisions respecting conflicts of interest, and persons who
contravene this subsection are liable to the penalties prescribed.
(4) The
Board and its members have the powers, duties, liabilities and immunities
prescribed and those set out in this Schedule.
(5) Plan
rules referred to in subsection (2)(a) may be integrated with the plan rules
made by the Lieutenant Governor in Council.
(6) The
guidelines referred to in subsection (2)(c) are exempt from the Regulations Act.
Special Forces Pension
Plan rules
4(1) The Lieutenant Governor in Council
shall by regulation establish those plan provisions that are to be included in
the Plan from the time of its continuation by this Schedule and that are not
fully provided for in this Schedule, including plan provisions respecting
(a)participation,
(b)contributions,
(c)pensionable
service,
(d)benefits,
including suspensions of pensions and adjustments to pensions relating to the cost
of living based on service that occurred before 1992,
(e)the allowing and charging of interest,
(f)reciprocal
agreements, other than affecting another pension plan established or continued
by Alberta legislation,
(g)beneficiaries,
(h)the
bases for actuarial adjustments,
(i)the
imposition on employers and employees of contributions for the purpose of
funding cost‑of‑living increases with respect to pensionable
service occurring after 1991, except for setting the rates of those
contributions,
(j)increases
in pensions of persons who have paid post‑1991 COLA contributions, based
on pensionable service occurring after 1991, to mitigate the effects of the
increased cost of living, except for setting the actual amounts of those
increases, and
(k)subject
to the Employment Pension Plans Act,
the transfer by the Minister of Finance, on the authorization of the Board, of
surpluses, if any, in excess of amounts required for the proper funding of
benefits with reference to pensionable service after 1991, from the plan fund
to the indexing fund.
(2) Notwithstanding
any other law, the Lieutenant Governor in Council may amend or repeal and
replace existing plan rules only on the Board’s recommendation.
(3) Where
the Lieutenant Governor in Council makes any plan rules under subsection (2)
that result in an improvement in benefits, the Board shall, if necessary, make
adjustments to contribution rates that meet the requirements of section 5(2).
(4) Where a recommendation made under
subsection (2) would, if adopted, have the effect of changing any of the Plan’s
benefits, the Board shall advise the Minister of the impact of the proposed
change on the Plan’s funded status, solvency deficiencies and current service
contribution rates.
(5) Notwithstanding
anything in this Schedule, the Lieutenant Governor in Council hasno authority to make plan rules on a matter
respecting which the plan rule-making authority is given by this Schedule to
the Board.
(6) The
plan rules are subject to the regulations as well as to this Schedule.
(6.1) To
the extent, if any, that is prescribed, a provision of the plan rules may be
made to apply with effect from a date that is prior to that on which they are
filed under the Regulations Act.
(7) To
avoid any possible doubt, plan rules are regulations under the Regulations Act.
(8) The
Board may make plan rules setting the rates of contributions referred to in
subsection (1)(i).
(9) The
Board may, subject to subsection (10) and the Employment Pension Plans Act, make plan rules setting the actual
amounts of the pension increases referred to in subsection (1)(j).
(10) Notwithstanding
anything in subsections (1)(j) and (9), any particular post‑1991 COLA
benefit increase may be made only if
(a)the
indexing fund, before the transfer under section 6.2, contains assets at least
equal in value to the amount certified by the Plan’s actuary to be the
actuarial present value of the particular increase over the expected remaining
lifetimes of all persons who stand to benefit by the increase,
(b)the
increase is to be paid from the plan fund,
(c)the
Plan meets the funding requirements and, if applicable, the solvency funding
requirements, and
(d)the
increase complies with the tax rules and this Schedule.
Actuarial valuation
report and current service funding
5(1) The Board shall have an actuarial
valuation of the Plan performed, and a report on that valuation prepared, by
the Plan’s actuary at least once every 3 years.
(1.1) The actuarial valuation report must
include a calculation of the Plan’s solvency deficiencies, if any.
(2) The
Board shall, if necessary, within a reasonable time after receiving the report,
make plan provisions, following the recommendations of the Plan’s actuary in
the report, adjusting either or both the employer and employee contribution
rates for current service (other than the post‑1991 COLA contribution
rates established by the Board’s plan rules under section 4(8)) so that those
rates will meet or exceed the funding requirements and, if applicable, the
solvency funding requirements.
RSA 2000 cP‑41
Sched. 4 s5;2003 c19 s46
Special Forces Pension
Plan Fund
6(1) The Minister of Finance shall hold
and administer the Special Forces Pension Plan Fund in accordance with this
Schedule and the regulations.
(2) All
the assets of the Plan are to be held in, and all its liabilities are to be
assumed by, the plan fund, but this subsection does not apply to the assets and
liabilities of the indexing fund.
(3) The
Minister of Finance shall, following the general policy guidelines made for the
purposes of section 3(2)(c),
(a)invest
the assets of the plan fund in accordance with the Employment Pension Plans Act and the regulations under it
notwithstanding anything to the contrary in the Financial Administration Act, and
(b)manage
those assets
for the sole benefit
of the persons entitled to benefits under the Plan.
(4), (5) Repealed by Revision.
RSA 2000 cP‑41
Sched. 4 s6;2005 c26 s55
Special Forces Pension
Indexing Fund
6.1(1) The Minister of Finance shall hold
and administer the Special Forces Pension Indexing Fund in accordance with this
Schedule and the regulations.
(2) The
purposes of the indexing fund are to receive post‑1991 COLA
contributions, and surpluses referred to in section 4(1)(k), to accumulate
income deriving from those contributions and surpluses and to enable payment to
those entitled under the Plan of post‑1991 COLA benefits.
(3) The
Minister of Finance shall, following in a general manner the policy guidelines
made for the purposes of section 3(2)(c), invest and manage the assets of the
indexing fund in accordance with the prescribed requirements for the sole
benefit of the persons entitled under the Plan to post‑1991 COLA
benefits.
RSA 2000 cP‑41 Sched.
4 s6.1;2005 c26 s55
Transfer from indexing
fund
6.2 If the Board has set the
amount of a particular increase pursuant to section 4(9) and the conditions set
out in section 4(10) have been met for that increase, the Minister of Finance
shall, on the recommendation of the Board, transfer from the indexing fund to
the plan fund the certified amount referred to in section 4(10)(a).
RSA 2000 cP‑41
Sched. 4 s6.2;2005 c26 s55
Trust relationship to
SFPP funds
7(1) The Minister of Finance shall hold
all the assets of
(a)the
plan fund in trust for the sole purposes of providing benefits (including,
subject to clause (b), post‑1991 COLA benefits) pursuant to the Plan and
meeting plan costs, subject, however, to any right to transfer surpluses
pursuant to plan provisions referred to in section 4(1)(k), and
(b)the
indexing fund in trust for the sole purposes of enabling the payment from the
plan fund of post‑1991 COLA benefits following transfers under section
6.2.
(2) Subject
to plan provisions referred to in section 4(1)(k), the assets of the plan fund
belong beneficially to the persons entitled to benefits under the Plan.
(2.1) The
assets of the indexing fund belong beneficially to the persons entitled to post‑1991
COLA benefits, subject to transfers made under section 6.2.
(3) The
Crown has no claim to any of the assets of the plan fund or the indexing fund
and shall not apply or allow the diversion of any of those assets for any
purpose not mentioned in subsection (1)(a) or (b), as the case may be.
RSA 2000 cP‑41
Sched. 4 s7;2005 c26 s55
Contributions,
accretion, benefits and costs
8(1) The Minister of Finance shall
deposit
(a)all
contributions to the Plan, except post‑1991 COLA contributions, with
interest, if any, paid on them, into the plan fund, and
(b)all
post‑1991 COLA contributions, with interest, if any, paid on them, into
the indexing fund
directly on receiving
them.
(2) All
income of and all appreciation and depreciation in the value of the assets of
(a)the
plan fund accrue to the plan fund, and
(b)the
indexing fund accrue to the indexing fund.
(3) The
Minister of Finance shall pay all benefits and the plan costs from the plan
fund.
RSA 2000 cP‑41
Sched. 4 s8;2005 c26 s55
Unfunded liabilities for
pre‑1992 recognized service, and
additional contributions
9(1) This section and section 9.1 apply
only with respect to the Plan’s unfunded liability in respect of service that
was recognized as pensionable service, and the benefits that were in place, as
at December 31, 1991.
(2) The
Plan’s unfunded liability is to be met or partly met by the imposition of
additional contributions under this section.
(3) The
Minister shall ensure that a separate accounting is made and maintained in
respect of the unfunded liability, including the application of the additional
contributions.
(4) Repealed
by Revision.
(5) The
additional contributions to be paid annually are as follows:
(a)by
the Crown, additional contributions at the rate of 1.25% of the pensionable
salaries of all participants of the Plan,
(b)by
each employer, additional contributions at the rate of 0.75% of the pensionable
salaries of all participants who are employees of that employer;
(c)by
each participant, additional contributions at the rate of 0.75% of pensionable
salary.
(5.1) The
additional contributions set out in subsection (5) shall be paid until December
31, 2036 unless the unfunded liability has been previously eliminated.
(6) The
Board shall have the unfunded liability re‑determined by the Plan’s
actuary at each actuarial valuation under the Plan.
(7) In
subsection (5), “pensionable salary” and “pensionable salaries” have the
meaning given to them by the plan rules.
(8) The
re‑determination by the Plan’s actuary under subsection (6) must be made
with the agreement of the Minister.
(10) In
subsection (1), the references to benefits that were in place as at December
31, 1991 are to be taken as including any cost‑of‑living
adjustments initially provided by plan rules made specifically under section
4(1)(d) with regard to those benefits.
(11) Subject
to this section, the payment of all benefits under the Plan arising from
pensionable service and benefits referred to in subsection (1) is guaranteed by
the Crown.
(12) Notwithstanding
section 5(1), the Board shall, when so requested by the Minister, have an
actuarial valuation of the Plan performed, and a report on that valuation
prepared, in respect of the unfunded liability and the service and benefits
referred to in subsection (1).
(13) The
Minister of Finance shall advance money from the General Revenue Fund to make
all payments of additional contributions required by subsection (5)(a) to be
paid by the Crown.
RSA 2000 cP‑41
Sched. 4 s9;2005 c26 s55
Effect of elimination of
pre-1992 unfunded liability
9.1 If an actuarial valuation
referred to in section 9 shows that the Plan’s unfunded liability has been
eliminated as at the effective date of the valuation, then, with respect to any
period after that date,
(a)any
additional contributions paid are to be considered for the purposes of the plan
rules as contributions in excess of what was payable and dealt with
accordingly,
(b)the
Crown has no further liability in respect of that unfunded liability, and
(c)section
9, other than section 9(1), is to be regarded as having no effect.
Review of administrative
decisions
10 Without limiting the
Minister’s prescribed responsibilities for the administration of the Plan, the
Minister may in writing delegate to the Board the power to review those
administrative decisions of the Minister that are specified in the delegation.
11 Repealed by Revision.
Regulations establishing
provisions of a legislative nature
12 The Lieutenant Governor in
Council may, after consulting with the Board, make regulations establishing
provisions of a legislative nature that do not form part of the Plan
(a)respecting
remuneration and expenses payable to members of the Board and respecting their
selection,
(b)respecting
the administration of the Plan, including provisions delegating or allowing the
delegation of some or all of the Plan’s administration and respecting any
contracts with respect to any such delegation,
(c)respecting
the plan fund and the indexing fund, including the management and investment of
their assets,
(d)respecting
the auditing of the Plan, the plan fund and the indexing fund,
(e)respecting
reporting and the disclosure of information about the Plan,
(f)imposing
obligations on employers to facilitate the administration of the Plan,
(g)exempting
interests in benefits from garnishee proceedings, attachment, seizure or legal
process,
(g.1)respecting
the transfer of pension entitlements between the Plan and another pension plan
established or continued by Alberta legislation,
(h)establishing
such provisions of a legislative nature as are considered to be requisite or
advisable so as to give full effect to the Plan or to be sound law in the field
of pensions, and
(i)prescribing any matter or thing that by this
Schedule may be or is to be prescribed.
13Repealed 1999 c13 s6.
Schedule 5
Management Employees
Pension Plan Provisions
Interpretation
1(1) In this Schedule,
(a)“Board”
means the Management Employees Pension Board established by section 3(1);
(a.1)“closed
plan” means the Public Service Management (Closed Membership) Pension Plan
under Schedule 6;
(b)“funding
requirements” means the minimum funding requirements, but excluding any
requirements for the funding of solvency deficiencies, of the Employment
Pension Plans Act and the regulations under it;
(b.1)“inception”
means the beginning of August 1, 1992;
(c)“Minister”
means the member of the Executive Council charged by the Lieutenant Governor in
Council with the administration of this Schedule;
(c.1)“old
plan” means the Public Service Management Pension Plan contained in and under
the Public Service Management Pension
Plan Act, SA 1984 cP‑34.1;
(d)“Plan”
means the portion of the old plan continued by section 8 of this Act as the
Management Employees Pension Plan and contained partly in the applicable
provisions of this Schedule and partly in the plan rules, and includes the plan
fund;
(e)“plan
costs” means the plan costs established for the Plan pursuant to section 5(1)
of this Act;
(f)“plan
fund” means the Management Employees Pension Plan Fund referred to in section
6(1);
(g)“plan
rules” means the plan provisions made pursuant to sections 4, 5(3) and 9(6),
including amendments or repeals and replacements of existing plan rules;
(h)“prescribed”
means prescribed or otherwise provided for by the regulations under this
Schedule;
(i)“regulations”
does not include the plan rules;
(i.1)“solvency
deficiencies” means a solvency deficiency within the meaning of, and as
calculated according to the methods set out in, the regulations under the Employment
Pension Plans Act;
(i.2)“solvency
funding requirements” means the prescribed requirements, if any, for funding
solvency deficiencies.
(2) Where
the plan rules define generally an expression used in this Schedule and not
defined in subsection (1), that definition applies with respect to the
interpretation of that expression unless the plan rules otherwise provide.
2(1) On January 1, 1994, all persons who
had any pensionable service accrued under the old plan immediately before
inception and who did not become members of the closed plan by virtue of
section 2 of Schedule 6 continued to participate in this Plan.
(2) A
member of the closed plan also participates in this Plan, in accordance with
this Schedule and the plan rules,
(a)with
respect to any pensionable service after inception, or
(b)in
the case of a person described in section 2(1)(g) of Schedule 6 who paid
contributions following the return to work, with respect to pensionable service
performed after that return to work.
Pensionable service
2.1(1) In determining the benefits under
this Plan of any person who is not also a member of the closed plan, all
pensionable service is to be taken into account for all purposes under this
Plan.
(2) In
calculating the amount of any benefit under this Plan of a person who is also a
member of the closed plan and subject to section 2(2)(b), only pensionable
service after inception may be taken into account, but
(a)pensionable
service before inception is also to be taken into account for the purpose of
any provision under this Plan predicating entitlement to a benefit or whether
or not a minimum number of years of pensionable service has been accumulated
and whether a person is entitled to an unreduced or a reduced pension and the
amount of any such reduction, and
(b)salary
earned before inception may be taken into account in determining the highest 5‑year
average salary for the purpose of the pension calculation.
Management Employees
Pension Board
3(1) There is hereby established a board
to be known as the “Management Employees Pension Board” consisting of the
persons prescribed.
(2) The
objects of the Board are
(a.1)to
advise the Minister on any pension matter that is of interest to persons
receiving or entitled in the future to receive benefits under the Plan,
(b.1)to
consult with the Minister where consultations are provided for by this
Schedule,
(c)to
set general policy guidelines on
(i)the investment and management of the plan fund’s assets in
accordance with section 6(3) and the regulations, and
(ii)the administration of the Plan
that it considers should be
followed,
(d)to
review administrative decisions pursuant to any delegations under section 10,
and
(g)to
perform the activities in relation to the closed plan that are assigned to it
by section 5(11) of this Act and Schedule 6.
(3) Members
of the Board, while acting as such, shall comply with, and are bound by, any
provisions respecting conflicts of interest prescribed with respect to this
Plan.
(4) The
Board and its members have the powers and duties prescribed and those set out
in this Schedule.
(6) The
guidelines referred to in subsection (2)(c) are exempt from the Regulations Act.
Management Employees
Pension Plan rules
4(1) The Lieutenant Governor in Council
shall by regulation establish those plan provisions that are to be included in
the Plan from the time of its continuation by section 8 of this Act and that
are not fully provided for in this Schedule, including plan provisions
respecting
(a)participation,
(b)contributions,
(c)pensionable
service,
(d)benefits,
including suspensions of pensions and adjustments to pensions relating to the
cost of living,
(e)the
allowing and charging of interest,
(f)reciprocal
agreements, other than affecting another pension plan established or continued
by Alberta legislation,
(g)beneficiaries,
(h)the
bases for actuarial adjustments, and
(l)anything
that is considered necessary or advisable to provide for resulting from the
division of the old plan into the closed plan and this Plan or in order to give
effect to the continuation of part of the old plan into this Plan.
(2) Notwithstanding
any other law, the Lieutenant Governor in Council may amend or repeal and
replace existing plan rules only after consulting with the Board and, to the
extent that the plan rule changes have a detrimental effect on any benefits
under the Plan, those changes may not have any degree of retrospective
application or apply to any service before the date when the changes come into
force.
(3) Any
amendments to plan rules made under this section that result in an improvement
in benefits must be accompanied, if necessary, with adjustments to contribution
rates pursuant to section 5(2) and (3).
(6) The
plan rules are subject to the regulations as well as to this Schedule.
(6.1) To
the extent, if any, that is prescribed, a provision of the plan rules may be
made to apply with effect from a date that is prior to that on which they are
filed under the Regulations Act.
(7) To
avoid any possible doubt, plan rules are regulations under the Regulations Act.
Actuarial valuation
report and current service funding
5(1) The Minister, in consultation with
the Board, shall have an actuarial valuation of the Plan performed, and a
report on that valuation prepared, by the Plan’s actuary at least once every 3
years.
(1.1) The actuarial valuation report must
include a calculation of the Plan’s solvency deficiencies, if any.
(2) The
Minister shall, if necessary, within a reasonable time after receiving the
report and after consulting with the Board, make a recommendation to the
Lieutenant Governor in Council to make plan rules, following the
recommendations of the Plan’s actuary in the report, adjusting either or both
the employer and employee contribution rates for current service so that those
rates will meet or exceed the funding requirements and, if applicable, the
solvency funding requirements.
(3) The
Lieutenant Governor in Council, on receiving the Minister’s recommendation,
shall forthwith by regulation make the plan provisions recommended.
RSA 2000 cP‑41
Sched. 5 s5;2003 c19 s47
Management Employees
Pension Plan Fund
6(1) The Minister of Finance shall hold
and administer the Management Employees Pension Plan Fund in accordance with
this Schedule and the regulations.
(2) All
the assets of the Plan are to be held in, and all its liabilities are to be
assumed by, the plan fund.
(3) The
Minister of Finance shall, after taking into consideration the general policy
guidelines made for the purposes of section 3(2)(c),
(a)invest
the assets of the plan fund in accordance with the Employment Pension Plans Act and the regulations under it
notwithstanding anything to the contrary in the Financial Administration Act, and
(b)manage
those assets
for the sole benefit
of the persons entitled to benefits under the Plan.
(4), (5),
(6) Repealed by Revision.
RSA 2000 cP‑41
Sched. 5 s6;2005 c26 s55
Trust relationship to
MEPP fund
7(1) The Minister of Finance shall hold
all the assets of the plan fund in trust for the sole purposes of providing
benefits pursuant to the Plan and meeting plan costs.
(2) The
assets of the plan fund belong beneficially to the persons entitled to benefits
under the Plan.
(3) The
Crown has no claim to any of the assets of the plan fund and shall not apply or
allow the diversion of any of those assets for any purpose not mentioned in
subsection (1).
RSA 2000 cP‑41
Sched. 5 s7;2005 c26 s55
Contributions,
accretion, benefits and costs
8(1) The Minister of Finance shall
deposit all contributions to the Plan, with interest, if any, paid on them,
into the plan fund directly on receiving them.
(2) All
income of and all appreciation and depreciation in the value of the assets of
the plan fund accrue to the plan fund.
(3) The
Minister of Finance shall pay from the plan fund the benefits under the Plan
and the plan costs.
RSA 2000 cP‑41
Sched. 5 s8;2005 c26 s55
Unfunded liabilities for
pre-1992 recognized service,and
additional contributions
9(1) This section applies only with
respect to the unfunded liability of the old plan arising from the pensionable
service of the persons who, on the continuation of the Plan by section 8 of
this Act, become participants of this Plan, in respect of service that was
recognized as pensionable service, and the benefits that were in place, as at
December 31, 1991.
(2) The
unfunded liability is to be met by the imposition of additional contributions
under this section.
(3) The
Minister shall ensure that a separate accounting is made and maintained in
respect of the unfunded liability, including the application of the additional
contributions.
(4) Repealed
by Revision.
(5) The
additional contributions to be paid annually are as follows:
(b)by
the employers, additional contributions, based as between different employers
proportionately on the pensionable salaries of all participants who are
employees of a particular employer, in the aggregate amount of the total
required;
(c)by
each participant, additional contributions at the rate of 0.75% of pensionable
salary.
(6) The
Minister shall have
(a)the
unfunded liability, and
(b)the
aggregate amount of the annual additional contributions required from the
employers in the years before the next actuarial valuation in order to ensure
the elimination of the Plan’s unfunded liability on or before December 31, 2043
after taking into account the actuarial present value of the participants’
additional contributions at the rate specified in subsection (5)(c)
re‑determined by
the Plan’s actuary at each actuarial valuation under the Plan, and the
Lieutenant Governor in Council shall by regulation make plan provisions
establishing the amount referred to in clause (b).
(7) In
subsection (5),
(a)“pensionable
salary” and “pensionable salaries” have the meaning given to them by the plan
rules;
(b)“total
required” means the aggregate amount of the annual additional contributions
required from employers, as established by plan rules under subsection (6).
(9) The
plan rules under subsection (6) must ensure that the additional contribution
requirements of that subsection meet or exceed the funding and solvency
requirements except only for the extended period for the elimination of the
unfunded liability.
(10) In
subsection (1), the references to benefits that were in place as at December
31, 1991 are to be taken as including any cost‑of‑living
adjustments initially provided by plan rules made specifically under section
4(1)(d) with regard to those benefits.
(11) Subject
to this section, the payment of all benefits under the Plan arising from
service before 1994 is guaranteed by the Crown.
Review of administrative
decisions
10 Without limiting the
Minister’s prescribed responsibilities for the administration of the Plan, the
Minister may in writing delegate to the Board the power to review those
administrative decisions of the Minister that are specified in the delegation.
11 Repealed
by Revision.
Regulations establishing
provisions of a legislative nature
12(1) The Lieutenant Governor in Council
may, after consulting with the Board, make regulations establishing provisions
of a legislative nature that do not form part of the Plan
(a)respecting
remuneration and expenses payable to members of the Board and respecting their
selection,
(b)respecting
the administration of the Plan, including provisions delegating or allowing the
delegation of some or all of the Plan’s administration and respecting any
contracts with respect to any such delegation,
(c)respecting
the plan fund, including the management and investment of its assets,
(d)respecting
the auditing of the Plan and the plan fund,
(e)respecting
reporting and the disclosure of information about the Plan,
(f)imposing
obligations on employers to facilitate the administration of the Plan,
(g)exempting
interests in benefits from garnishee proceedings, attachment, seizure or legal
process,
(g.1)respecting
the transfer of pension entitlements between the Plan and another pension plan
established or continued by Alberta legislation,
(h)establishing
such provisions of a legislative nature as are considered to be requisite or
advisable so as to give full effect to the Plan or to be sound law in the field
of pensions,
(i)prescribing
any matter or thing that by this Schedule may be or is to be prescribed,
(j)respecting
the exit of a prescribed employer from the Plan, and particularly establishing
terms and conditions for that exit, and
(k)respecting
the treatment of persons who had ceased to be participants under the old plan
before inception and remained, immediately before inception, entitled to the
return or transfer of their contributions under the old plan without having
become entitled to the future receipt of pensions under that plan, and their
contributions.
(1.1) Without
limiting subsection (1)(k), the regulations under that clause may provide that
the amount of assets to be transferred from the Plan in respect of the exit is
to be reduced
(a)where
the exiting employer is not one to which the Public Service Act applies, to take into account any detrimental
effect on the funding of the Plan resulting from any pensionable salary of an
employee of the exiting employer exceeding that of an employee holding a
position in the public service of Alberta that is similar to that employee’s
position, and
(b)by
some or all of the liabilities of the closed plan in respect of members of the
closed plan who, at the time of their last termination, were employees of the
exiting employer,
and, notwithstanding
anything in this Schedule, must provide, if applicable, that the amount of the
asset reduction under clause (b) will be transferred from the Plan into the
closed plan.
(1.2) Regulations
under subsection (1)(j) may be
(a)different
for different employers, and
(b)made
to apply with effect from a date specified in them, being the effective date of
the exit, that is prior to July 15, 1999.
(1.3) The
guarantee contained in section 9(11) is not to continue with respect to benefits
transferred from the Plan in connection with an exit referred to in subsection
(1)(j).
(5) The Lieutenant Governor in Council may, after
consulting with the Board, make regulations establishing or continuing one or
more supplementary pension plans and funds that provide for additional benefits
within the tax rules.
13Repealed 1999 c13 s6.
17Repealed by Revision
Schedule 6
Public Service Management
(Closed
Membership) Pension PlanProvisions
Definitions
1 In this Schedule,
(a)“Board”
means the Management Employees Pension Board;
(b.1)“inception”
means the beginning of August 1, 1992;
(b.3)“members”
means persons who became members of the Plan by virtue of section 2 but, if
such a person also participates in the permanent plan, relates only to that
part of the service that is to be taken into account as pensionable service
under this Plan;
(c.1)“old
plan” means the Public Service Management Pension Plan contained in and under
the Public Service Management Pension
Plan Act, SA 1984 cP‑34.1;
(c.2)“permanent
plan” means the Management Employees Pension Plan under Schedule 5;
(d)“Plan”
means the portion of the old plan continued by section 8 of this Act as the
Public Service Management (Closed Membership) Pension Plan and contained in this
Schedule and any regulations under section 12, and includes the plan fund;
(e)“plan
costs” means the plan costs established for the Plan pursuant to section 5(1)
of this Act;
(f)“plan
fund” means the Public Service Management (Closed Membership) Pension Plan Fund
established under section 6(1);
(h)“prescribed”
means prescribed or otherwise provided for by regulations under this Schedule.
Continuation of coverage
from PSMPP and membership
2(1) On January 1, 1994, persons covered
by the old plan continued to be covered as members of this Plan if they
(a)were
receiving or were entitled to receive a pension under the old plan immediately
before inception,
(b)were
entitled to receive a pension under the old plan immediately before inception
but only for the fact that they had not applied for it and, between inception
and January 1, 1994, attained pension commencement under the old plan,
(c)would
have been entitled to receive a pension under the old plan immediately before
inception but only for having postponed commencement of that pension,
(d)had
ceased to be participants under the old plan before inception and remained,
immediately before inception, entitled to deferred pensions under the old plan,
(e)had
ceased to be participants under the old plan before inception without
recommencing participation or being eligible for pensions by then and did not,
immediately before inception, have sufficient pensionable service accrued under
the old plan to be entitled to deferred pensions under the old plan,
(f)had
attained 35 years’ pensionable service under the old plan before inception,
(g)prior
to inception,
(i)had been in receipt of pensions under the old plan,
(ii)had returned to work under circumstances where their pensions
were suspended pursuant to section 22 or 23 of the Public Service Management Pension Plan Regulation (AR 311/85), and
(iii)in the case of a pension suspension under section 22 of that
Regulation, had not repaid the pension under subsection (2) of that section,
and were still subject to
that pension suspension immediately before inception, or
(h)were
persons to whom section 44 of the Members
of the Legislative Assembly Pension Plan Amendment Act, 1993, SA 1993 c5,
applies.
(2) A
person described in subsection (1)(g) is a member only with respect to
pensionable service prior to the return to work.
(3) Apart
from persons who are members of the Plan by virtue of subsection (1) and,
regarding those persons, with the service limitations referred to in this
section, the Plan is closed to any further or other membership.
Pensionable service
2.1 In calculating the amount of
any benefit under this Plan, only pensionable service before inception may be
taken into account, but
(a)pensionable
service after inception is also to be taken into account for the purpose of any
provision under the Plan predicating entitlement to a benefit or whether or not
a minimum number of years of pensionable service has been accumulated and
whether a person is entitled to an unreduced or a reduced pension and the
amount of any such reduction, and
(b)except
as prescribed with respect to any category of persons referred to in section
2(1)(g), salary earned after inception may be taken into account in determining
the 5 best years’ salary for the purpose of the pension calculation.
Board members
3 Members of the Board, while
acting as such, shall comply with, and are bound by, any provisions respecting
conflicts of interest prescribed with respect to this Plan.
Continuation of rights
and liabilities
3.1(1) This section is subject to any
specific provisions of any other section of this Schedule or of the regulations
made under section 12.
(2) All
benefits and other rights and all liabilities that had accrued under the old
plan immediately before inception continue to be accrued benefits, rights and
liabilities under the Plan as if the old plan, as it then was, were still in
force.
(3) All
rights and liabilities that, immediately before inception, were only inchoate
or potential continue to be inchoate or potential on the same basis as if the
old plan, as it then was, were still in force.
(4) If
any question arises as to any rights or liabilities (including those of the
Government) under the Plan, they are to be determined by reference to the old
plan as it was immediately before inception.
Actuarial valuation
report
5 The Minister, in consultation
with the Board, shall have an actuarial valuation of the Plan performed, and a
report on that valuation prepared, by the Plan’s actuary at least once every 3
years.
Public Service
Management (Closed Membership) Pension
Plan Fund
6(1) The Minister of Finance shall hold
and administer the Public Service Management (Closed Membership) Pension Plan
Fund in accordance with this Schedule and the regulations.
(2) All
the assets of the Plan are to be held in, and all its liabilities are to be
assumed by, the plan fund until its assets are exhausted.
(3) The
Minister of Finance shall
(a)invest
the assets of the plan fund in accordance with the Employment Pension Plans Act and the regulations under it
notwithstanding anything to the contrary in the Financial Administration Act, and
(b)manage
those assets
for the sole benefit
of the persons entitled to benefits under the Plan.
(4), (5) Repealed
by Revision.
RSA 2000 cP‑41
Sched. 6 s6;2005 c26 s55
Trust relationship to
PSM(CM)PP Fund
7(1) The Minister of Finance shall hold
all the assets of the plan fund in trust for the sole purposes of providing
benefits pursuant to the Plan and meeting plan costs.
(2) The
assets of the plan fund belong beneficially to the persons entitled to benefits
under the Plan.
(3) The
Crown has no claim to any of the assets of the plan fund and shall not apply or
allow the diversion of any of those assets for any purpose not mentioned in
subsection (1).
RSA 2000 cP‑41
Sched. 6 s7;2005 c26 s55
Accretion and benefits
8(1) The Minister of Finance shall
deposit money appropriated to the plan fund by the Legislature, if any, into
the plan fund.
(2) All
income of and all appreciation and depreciation in the value of the assets of
the plan fund accrue to the plan fund.
(3) Subject
to subsection (4), the Minister of Finance shall pay from the plan fund the
benefits under the Plan and the plan costs.
(4) After
all the assets in the plan fund have been exhausted, the Minister of Finance
shall close the plan fund and afterwards pay all benefits under the Plan and
the plan costs from the General Revenue Fund.
RSA 2000 cP‑41
Sched. 6 s8;2005 c26 s55
Crown guarantee
9 All benefits under the Plan
are guaranteed by the Crown.
Review of administrative
decisions
10 Without limiting the
Minister’s prescribed responsibilities for the administration of the Plan, the
Minister may in writing delegate to the Board the power to review any decisions
made by the Minister that are specified in the delegation for the purposes of
the Plan.
COLAs
11(1) Repealed by Revision.
(2) Notwithstanding
anything in this Schedule, if the cost of living has increased, all amounts
payable as pensions shall be increased by a cost‑of‑living increase
calculated at the same rate and on the same basis that applies with respect to
pensions based on pre‑1992 pensionable service under the permanent plan.
(3) Increases
under subsection (2) shall also be applied to the periods
(a)of
continued postponement of pensions, and
(b)until
the commencement of deferred pensions
under the Plan.
Regulations
12(1) The Lieutenant Governor in Council
may make any regulations
(a.1)that
are considered necessary to give full effect to the intent of this Schedule,
(b)respecting
the administration of the Plan, including provisions delegating or allowing the
delegation of some or all of the Plan’s administration and respecting any
contracts with respect to any such delegation,
(i)prescribing
any matter or thing that by this Schedule may be or is to be prescribed,
(j)that
are considered necessary or advisable, from the perspective of the Plan, to
give full effect to the regulations made under section 12(1)(j) of Schedule 5,
and
(k)amending
the rules of the Plan in such a manner as to reflect any amendments made to the
permanent plan that have the potential for relevance to the Plan.
(1.1) Regulations
under subsection (1)(j) or (k) operate notwithstanding anything to the contrary
in this Schedule.
(1.2) Regulations
under subsection (1) may be made to apply with effect from a date specified in
them, being
(a)in
the case of regulations under subsection (1)(j), the effective date of the exit
referred to in section 12(1)(j) of Schedule 5, that is prior to July 15, 1999,
(b)in
the case of regulations under subsection (1)(k), the effective date of the
corresponding amendments to the permanent plan, and
(c)in
the case of regulations under any other clause of subsection (1), the date considered
appropriate.
(3) If the Lieutenant Governor in Council considers
that any provision of this Schedule is inconsistent with the overall intent
expressed in section 2, the regulations under subsection (1) may amend that
provision to make it so consistent.