O. Reg. 351/16: GENERAL

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ontario regulation 351/16

made under the

Pension Benefits Act

Made: October 26, 2016
Filed: October 31, 2016
Published on e-Laws: October 31, 2016
Printed in The Ontario Gazette: November 19, 2016

Amending Reg. 909 of R.R.O. 1990

(GENERAL)

1. The heading before section 65 and section 65 of Regulation 909 of the Revised Regulations of Ontario, 1990 are revoked and the following substituted:

Advisory Committees

65. (1) The following are the prescribed conditions and restrictions relating to the establishment of an advisory committee under subsection 24 (1) of the Act:

1. Notice of intent to establish an advisory committee must be provided to the administrator,

i. by at least 10 individuals, each of whom is either a member or a retired member, or

ii. by one or more trade unions, if the union or unions represent at least 10 members.

2. On the day the administrator receives the notice, the pension plan must have a combined total of at least 50 members or retired members.

3. The notice must contain,

i. the name of the pension plan and its provincial registration number,

ii. in the case of a notice provided by members or retired members, the name, address and class of membership of each of them, and their email address, if any, and

iii. in the case of a notice provided by a trade union, the trade union’s name and address and the name and email address of a contact person.

(2) Within 30 days after receiving the notice, the administrator shall contact the individuals or trade union that provided the notice to discuss the manner in which the administrator proposes to comply with the requirements in subsection (3).

(3) Within 90 days after receiving the notice, the administrator shall,

(a) notify all members and retired members that a vote will be conducted respecting whether to establish an advisory committee;

(b) distribute the ballot for voting and provide details about how to participate in the vote; and

(c) distribute any information,

(i) that was prepared by the members, retired members or trade union that provided notice under subsection (1), and

(ii) that describes the purposes of an advisory committee, as set out in subsection 24 (4) of the Act.

(4) In order to comply with subsection (3), the administrator may distribute a single notification package to each member and retired member.

(5) A vote respecting whether to establish an advisory committee shall be conducted by secret ballot using one or more of the following methods:

1. Voting in person by casting ballots at a meeting of members and retired members.

2. Electronically.

3. By mail.

4. By casting ballots at a specified location.

(6) The administrator shall notify all members, former members and retired members, as well as any trade union that provided notice under subsection (1), of the outcome of the vote.

(7) If the vote is in favour of establishing an advisory committee, one shall be established and shall be composed of at least four and not more than 15 representatives appointed in accordance with the rules in subsections 24 (3) and (3.1) of the Act governing the advisory committee’s composition.

(8) The administrator shall give information to the members, retired members or trade union that provided notice under subsection (1) with respect to the membership of the plan in order to facilitate appointments to the advisory committee.

(9) Once the representatives of the advisory committee have been appointed, the administrator shall,

(a) promptly contact them for the purpose of holding an initial meeting;

(b) discuss the administration of the pension plan and matters of interest to beneficiaries at a meeting to be held at least twice annually, or once annually if the advisory committee determines that more meetings are not required in a particular year;

(c) arrange for the plan actuary to meet with them at least annually, in the case of a plan that provides defined benefits;

(d) ensure they have access, at least annually, to an individual who can report on the fund’s investments; and

(e) provide reasonable administrative assistance for the advisory committee to prepare and distribute an annual report about its activities to members, former members, retired members and other beneficiaries.

(10) The following costs are payable out of the pension fund:

1. Reasonable costs associated with conducting a vote respecting whether to establish an advisory committee.

2. Reasonable costs relating to the advisory committee’s establishment and operation.

(11) If a vote conducted under this section does not lead to an advisory committee being established, the administrator is not required to provide the assistance described in this section for three years after the date of the most recent vote and shall notify all members and retired members, as well as any trade union that provided notice under subsection (1), of this fact.

(12) The following criteria are prescribed for the purposes of clause 24 (6) (d) of the Act:

1. The pension plan must be administered by a governing body at least one of whose members is selected by the members of the plan or by a trade union acting on their behalf.

(13) Advisory committees established before the day subsection 2 (3) of Schedule 22 to the Jobs for Today and Tomorrow Act (Budget Measures), 2016 comes into force are exempt from subsection 24 (3) of the Act for the period ending six months after the day subsection 11 (3) of the Pension Benefits Amendment Act, 2010 comes into force.

Commencement

2. This Regulation comes into force on the later of January 1, 2017 and the day it is filed.

 

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