O. Reg. 367/10: GENERAL


Published: 2010-09-16

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ontario regulation 367/10

made under the

pension benefits act

Made: September 15, 2010
Filed: September 16, 2010
Published on e-Laws: September 17, 2010
Printed in The Ontario Gazette: October 2, 2010


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

(General)

1. Regulation 909 of the Revised Regulations of Ontario, 1990 is amended by adding the following section:

Funding and Funding Relief for Specified Pension Plans

5.5.1 (1) For the following pension plans, a valuation report with a valuation date on December 31, 2009 may be filed no later than March 31, 2011, despite subsection 14 (10):

1. Pension Plan for Professional Staff of Lakehead University (Registration No. 0246058).

2. Wilfrid Laurier University Pension Plan (Registration No. 0314492).

(2) If the valuation report referred to in subsection (1) discloses that the pension plan has a new going concern unfunded liability or new solvency deficiency, the special payments required to liquidate that new liability or deficiency must begin no later than March 31, 2011, despite clauses 5 (1) (b) and (e).

(3) If the valuation report referred to in subsection (1) discloses that the pension plan has a new going concern unfunded liability or new solvency deficiency and if the administrator elects under section 5.6 to use Option 1 solvency relief, the administrator may elect to defer for up to 15 months the start of the period during which special payments are to be made to liquidate that new liability or deficiency, instead of the 12-month deferral specified by paragraph 1 of subsection 5.6 (3).

(4) Expressions used in this section have the same meaning as in section 5.6.

2. This Regulation comes into force on the day it is filed.

 

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