Revised Statutes of Newfoundland 1990 Chapter G-6

(b) "deferred pension" means a pension benefit, payment of which is deferred until the person entitled to the pension benefit reaches the early retirement date;

(c) "earnings" means the amount of gross normal remuneration received by the employee but excluding overtime and other remuneration which is not part of the basic remuneration unless included as pensionable as part of a collective agreement;

(d) "effective date" means April 1, 1989 or a later date that may be designated by the Lieutenant-Governor in Council to permit participating employers to join the plan;

(e) "eligible spouse" means a person of the opposite sex

(i) to whom the employee is married at the time of that employee's death, or

(ii) who establishes to the satisfaction of the minister that the person has continuously cohabited with the employee for at least 1 year before that employee's death provided that the person and the employee held themselves out to the public as spouses of each other and there was no impediment to marriage between that person and the employee;

(f) "employee" means an employee of a participating employer who is not eligible to participate in another government sponsored pension plan of that participating employer, but excludes students and casual relief workers;

(g) "fund" means the investment fund referred to in section 12;

(h) "inactive member" means a person who has stopped being an employee but has not withdrawn his or her contributions from the plan;

(i) "minister" means the Minister of Finance who shall act as trustee for the plan;

(j) "optional pension" means 1 of the various types of pension that an employee may elect on retirement as set out in Schedule A;

(k) "participating employer" means

(i) the government of the province,

(ii) a Crown corporation, agency or board of the province designated by regulation, or

(iii) a non-profit public organization with close affiliations with the province whose primary function is to provide public services which would normally be provided by the province and which has been designated as an eligible participant by regulation or which has been included in Schedule B;

(l) "pensioner" means a former employee to whom a pension has been granted under the plan, the 1st payment of which has fallen due;

(m) "plan" means the pension plan for employees as set out in this Act; and

(n) "service" means service with a participating employer including periods when the employee may have been on lay-off or other inactive status but has a right of recall or call back by agreement with the participating employer.

1990 c12 s2

3. This Act applies to

(a) every employee hired after the effective date;

(b) every employee hired before the effective date, who opts to participate in the plan from the effective date; and

(c) every employee hired before the effective date who opts to participate in the plan from a date after the effective date.

1990 c12 s3

4. (1) Each employee who participates in the plan shall contribute to it an amount equal to 5% of the employee's earnings or a greater amount that may be established by regulation.

(2) A participating employer shall contribute to the fund an amount equal to the contributions of each employee under this Act.

(3) All contributions made under this section shall be paid to the custodian before the end of the calendar month immediately following the month during which the contributions were made.

1990 c12 s4

5. (1) An employee who stops being an employee and who has completed less than 5 years of service may elect to be repaid his or her contributions to the plan and shall also receive the accumulated earnings on that sum.

(2) An employee whose right to purchase a pension has vested and who stops being an employee shall receive a deferred pension.

(3) Upon the death of an employee or inactive member, the eligible spouse or designated beneficiary may elect to receive a cash payment of the amount that has accumulated to the deceased employee or inactive member's credit or a pension calculated on the amount that has accumulated to the deceased employee or inactive member's credit.

1990 c12 s5

6. Additional voluntary contributions may be made to the fund by an employee.

1990 c12 s6

7. Where an employee has participated in the plan for 5 years or in accordance with the vesting and locking-in provisions of the Pension Benefits Act all contributions made under section 4, together with the accumulated earnings on those contributions, shall be permanently vested and locked in the fund until the employee's retirement, at which time the amount standing to his or her credit in the fund shall be used to provide him or her with a guaranteed life annuity.

1990 c12 s7

8. (1) Where an employee whose right to a pension has vested under section 7 stops being employed and later retires,

(a) at the end of the month in which he or she reaches the age of 65 years;

(b) at any time during the 10 year period immediately preceding the retirement date referred to in paragraph (a); or

(c) at any time during the 5 year period immediately following the retirement date referred to in paragraph (a), but not later than the end of the month immediately following the month in which he or she reaches the age of 71 years,

he or she is entitled to receive a pension calculated on the basis of the amount that has accumulated to his or her credit in the fund at that time.

(2) Notwithstanding subsection (1), an employee without an eligible spouse may elect an optional pension as provided for in Schedule A equal to the value of the pension provided by the amount which has accumulated to his or her credit in the fund at that time.

(3) An employee with an eligible spouse shall receive a pension in the form specified by Article VII of Schedule A with a survivor benefit of at least 60% payable upon his or her death, to the eligible spouse during the eligible spouse's continued lifetime.

(4) Where the employee does not have an eligible spouse, the employee may designate another person as a beneficiary.

(5) The designated beneficiary on the death of the pensioner is entitled, provided the pensioner has received less than 60 payments, to the balance of 60 payments.

1990 c12 s8

9. A pension shall be paid monthly from the 1st of the month following the date of retirement and shall stop at the end of the month in which the death of the pensioner occurs.

1990 c12 s9

10. The benefits and service credits of an employee who transfers between participating employers continue to accrue under this Act.

1990 c12 s10

11. (1) The minister may enter into a reciprocal pension transfer agreement with an employer that provides for the transfer of funds in respect of an employee.

(2) The amount of a transfer from the plan under this Act shall be determined by the reciprocal agreement but the amount transferred shall not be more or less than the amount standing to the credit of the employee in the fund.

1990 c12 s11

12. All contributions made under this Act shall be deposited in a fund which shall be invested in accordance with the Pension Benefits Act.

1990 c12 s12

13. (1) The Lieutenant-Governor in Council may make regulations

(a) amending the Schedules to this Act;

(b) designating a class of persons to be included as employees for the purpose of this Act;

(d) excluding a class of persons from the application of this Act;

(e) defining an expression or term used in this Act not already defined in this Act; and

(f) generally, to give effect to the purpose of this Act.

(2) Regulations made under this Act may be made with retroactive effect to a date no earlier than April 1, 1989.

1990 c12 s13

14. (1) The plan entitled the "Money Purchase Pension Plan For Part-Time Employees of The Province of Newfoundland And For Certain Employees of Other Participating Employers" which is contained in Schedule A forms part of this Act.

(2) Where this Act conflicts with the Pension Benefits Act, the latter Act applies.

(3) Where this Act conflicts with the Income Tax Act (Canada), the latter Act applies.

1990 c12 s14

Schedule A

Money Purchase Pension Plan For Part-Time Employees of The Province of Newfoundland And For Certain Employees of Other Participating Employers

ARTICLE I
Definitions

The Following terms wherever used in this instrument shall, for the purposes of it, unless the context otherwise requires have the meaning set out below:

1. "Actuary" means the actuary that the Committee may from time to time appoint for purposes of making actuarial valuations and estimates of the contributions required to be made by the Participating Employer or of performing other services in connection with the Plan, provided that the person is a Fellow of the Canadian Institute of Actuaries or a corporation in which at least one of whose employees is such an individual.

2. "Administrator" means the person that the Minister may from time to time appoint to perform the administration of the Plan.

3. "Anniversary Date" means April 1, 1989 and January 1st of each following year.

4. "Annuity Fund" means the Fund specified in Article XIV (Funds, Custodian and Accounts).

5. "Committee" means the Pension Investment Committee appointed by the Province by order in council 1110-81.

6. "Custodian" means the Trustee or Insurer that the Minister may from time to time appoint for purposes of the Plan, whose function is to administer the fund.

7. "Designated Beneficiary" means a person so designated by an Employee in accordance with Article XII (Designated Beneficiaries).

8. "Earnings" means the amount of gross normal remuneration received by the employee but excluding, overtime and other remuneration which is not part of the basic remuneration unless those amounts are included specifically, as part of a collective agreement.

9. "Effective Date" means the date on which the Minister designates from which the Participating Employer is deemed to join the Plan from which Required Contributions are made.

10. "Eligible Spouse" means a person of the opposite sex:

(a) to whom the Employee is married at the time of that Employee's death; or

(b) who establishes to the satisfaction of the Minister that, the person has continuously cohabited with the Employee for at least one year prior to that Employee's death provided that the person and the Employee held themselves out to the public as spouses of each other and there was no impediment to marriage between that person and the Employee.

11. "Employee" means an employee of a Participating Employer who is not eligible to participate in another Government sponsored pension plan of that Participating Employer, but excludes students and casual relief workers;

12. "Inactive Member" means a person who has ceased to be an Employee but has not withdrawn his or her contributions from the Plan.

13. "Insurer" means a life insurance company or other entity authorized to transact annuity business in Canada.

14. "Interest" means the amount of earnings as determined in accordance with Article IV (Units, Employee Accounts and Interest).

15. "Investment Counsel" means the Trustee, Insurer or other person that the Committee may from time to time appoint for purposes of the Plan whose function is to give advice to the Committee on the investment of the Fund.

16. "Joint Annuitant" means a person designated as such in an election made in accordance with paragraph (b)(iv) of Section 3B of Article VII (Payment of Pensions: Normal and Optional Forms).

17. "Minister" means the Minister of Finance for the Province.

18. "Pensioner" means a former Employee to whom a pension has been granted under the Plan, the first payment of which has fallen due having regard to Section 6 of Article XV (Administration and Procedures).

19. "Plan" means the pension plan for Employees as set out in this instrument, which shall be named the "Government Money Purchase Plan".

20. "Plan Year" means the period from the Effective Date to the next following December 31st and from each January 1st to the next following December 31st in each subsequent year.

21. "Required Contributions" means contributions made under paragraph (a) of Section 1 and Section 2 of Article III (Contributions).

22. "Short term Investment Fund" means the Fund specified in Article XIV (Funds, Custodian and Accounts).

23. "Regular Fund" means the Fund specified in Article XIV (Funds, Custodian and Accounts).

24. "Service" means service with a Participating Employer including those periods when the Employee who may be on lay-off or other inactive status has rights of recall or call back by agreement with the Participating Employer.

25. "Participating Employer" means the Province or

(a) its Crown Corporations, Agencies, or Boards, or

(b) a non-profit public organization which has close affiliations with the Province and whose primary function is to provide public services which would normally be provided by the Province if the organization were not to exist and which has been designated as an eligible participant by the Lieutenant-Governor in Council;

and which has made application to have the Plan extended to its designated employees and which application has been accepted by the Minister.

ARTICLE II
Eligibility and Membership

1. Eligibility and Membership

All Employees hired after the Effective Date, must join the Plan on their date of employment.

All Employees at the Effective Date have the option of participating in the Plan from the Effective Date or a later date.

The Employees shall complete those forms that may be required by the Administrator.

2. Explanation to Members

The Administrator shall provide a written description of the Plan to each Participating Employer for distribution to every person who is eligible to become an Employee on or before the date of eligibility. The description shall explain the terms and conditions of the Plan and amendments to it as applicable to the Employee, and shall detail the rights and duties of the Employee with reference to the benefits available and the contributions payable under the Plan.

Within six months of an amendment to the Plan, the Administrator shall provide a similar description of the amendment to each Participating Employer for distribution to an Employee affected by the amendment.

Upon termination of employment the Participating Employer shall request the Administrator to provide the person with a written statement showing the benefits to which he or she is entitled.

Participating Employers are to distribute all information concerning the Plan to Employees on a timely basis.

ARTICLE III
Contributions

1. Employees

Required Contribution

Each employee shall contribute to the Plan during a period of membership an amount equal to five percent of Earnings or a greater amount that may be established by the Minister.

The Required Contributions shall be deducted from the Earnings by the Participating Employer.

2. Participating Employer

The Participating Employer shall contribute to the Plan on behalf of each Employee an amount equal to his or her Required Contributions or a greater amount that may be established by the Minister.

3. Payment to the Custodian

The Participating Employer shall pay to the Custodian all contributions made by or on behalf of Employees under this Article, within the calendar month following the month during which the contributions were made, together with all contributions made by the Participating Employer under Section 2 of Article III (Contributions).

4. Notwithstanding subsections 1 and 2 of this Article contributions made under those subsections may be returned to the person who made the contribution where the contribution is returned to avoid the revocation of the registration of the Plan under the Income Tax Act (Canada).

ARTICLE IV
Units, Employee Accounts and Interest

1. On each Anniversary Date the Actuary will calculate unit values with respect to each of the Regular Fund, and the Short Term Investment Fund.

2. In the case of the Regular Fund the unit value for purposes of determining the number of units purchased in the first Plan Year will be ten dollars. The unit value for successive Plan Years will be calculated in the following manner.

(i) The Actuary will determine the number of units outstanding at the end of the Plan Year for Employees and Inactive Members of the Plan at the commencement of the Plan Year exclusive of units purchased by the current year contributions, and

(ii) The Actuary will determine the number of units purchased by current year contributions made by or on behalf of Employees and Inactive Members at the end of the Plan Year by dividing the total of those contributions by the unit value at the end of the prior Plan Year, and

(iii) The Actuary will determine the number of units outstanding at the end of the Plan Year by adding together the amounts in (i) and (ii) above, and

(iv) The Actuary will determine the adjusted market values of the Regular Fund by marking the following adjustments to the market value of the Regular Fund as reported by the Custodian:

(A) adding to the value the amount of a contribution payable to the Regular Fund as at the statement date, and

(B) deducting from the value the amount of a cash payment payable by the Plan prior to the statement date but not yet deducted from the Regular Fund as at the statement date, and

(v) The Actuary will determine the unit value at the end of the Plan Year by dividing the value determined in (iv) above by the number of units in (iii) above.

In these calculations the Actuary may use those values and make other adjustments that he or she considers appropriate to give full effect to the terms and provisions of this Plan.

3. In the case of the Short Term Investment Fund, the Actuary will use a similar process starting with the first Anniversary Date on which a transfer is made on the basis described below.

4. If considered advisable by the Actuary in order to maintain equity between Employees and Inactive Members a calculation of unit values may be made at any time using methods consistent with that in Section 2 of Article IV, (Units, Employee Accounts and Interest). In that case, adjustments may be made to the methods of determining benefits as recommended by the Actuary.

5. The Administrator shall cause to be kept records of the units credited to each Employee and Inactive Member on account of Transfers (Article XI - Transfers) and his or her Required Contributions, together with those of the Participating Employer made on his or her behalf using those methods that are recommended by the Actuary.

6. All contributions will be made to the Regular Fund. A transfer will be made from the Regular Fund to the Short Term Investment Fund on behalf of each Employee and Inactive Member with respect to contributions made while he or she was a member of the Plan on each Anniversary Date occurring fewer than five years before the Normal Retirement Date. The amount of the transfer will be the value of the fraction from the table below of the Employee's units in the Regular Fund on the Anniversary Date.

Period from Anniversary Date on which Transfer is made to Normal Retirement Date	Fractions
	Fraction Each Anniversary Date Required Contributions	Fraction Each Anniversary Date Lump Sum Transfers During Year
Nil	all	all
1 year	1/2	5/6
2 years	1/3	4/6
3 years	1/4	3/6
4 years	1/5	2/6
5 years	1/6	1/6

7. Not less frequently than every two years following the Effective Date, the Actuary shall determine the liability to Pensioners receiving their pensions from the Annuity Fund and make a report on it to the Committee. The report shall contain those recommendations that may be considered appropriate by the Actuary in light of the actuarial value of assets standing to the credit of the Annuity Fund.

8. For purposes of determining benefits under the terms of Article VI (Retirement Benefits), Article VIII (Termination of Service), and Article X (Survivor Benefits), interest will be credited on the value of units with respect to the period, if any, to the date of retirement, termination or death from the Anniversary Date immediately preceding the event or from the subsequent date, if any, on which the Actuary last calculated a unit value. The rate of interest will be declared from time to time by the Actuary having due regard to the rate of investment return on the funds.

ARTICLE V
Retirement Dates and Conditions

1. Normal Retirement

(a) The normal retirement date of an Employee or Inactive Member shall be the first day of the month following attainment of age sixty-five.

(b) The pension payable to an Employee or Inactive Member on normal retirement shall be determined in accordance with Article VI (Retirement Benefits).

2. Early Retirement

(a) An Employee or Inactive Member may elect to retire at any time in the ten year period immediately preceding his or her normal retirement date and receive a pension provided the person has completed five Years of Service.

(b) The pension payable to an Employee or Inactive Member on early retirement shall be determined in accordance with Article VI (Retirement Benefits).

3. Postponed Retirement

(a) An Employee or Inactive Member may elect to retire at any time in the five year period immediately following Normal Retirement and in no event later than the end of the month immediately following the month in which the Member or Inactive Member attained seventy-one years of age, and receive a pension provided he or she has completed five Years of Service.

(b) The pension payable to an Employer or Inactive Member on postponed retirement shall be determined in accordance with Article VI (Retirement Benefits).

ARTICLE VI
Retirement Benefits

1. Subject to the terms and conditions of Article V (Retirement Dates and Conditions), a Member who retires and who has not previously been granted a pension or a lump sum settlement under the Plan in respect of his or her most recent period of Service, shall be entitled upon written request to a pension the yearly amount of which shall be determined as outlined below.

2. Basic Pension

The retiring Employee or Inactive Member shall be entitled to a basic pension equal to the amount of pension that may be purchased by the value on the Employee or Inactive Member's retirement date of the units attributable to the person's Required Contributions and to the Participating Employer's contributions made on his or her behalf. The amount of pension payable shall be determined in accordance with such tables and methods as recommended by the Actuary.

3. Additional Pension

The retiring Employee or Inactive Member shall also be entitled to an additional pension equal to the amount of pension that may be purchased by the value of the Member's additional voluntary contributions. The amount of pension payable shall be determined in accordance with such tables and methods as recommended by the Actuary.

ARTICLE VII
Payment of Pensions: Normal and Optional Forms

1. Frequency and Commencement of Pension

Unless otherwise provided under the Plan, pensions and annuities shall be payable for the lifetime of the Pensioner and Joint Annuitant if applicable, on a monthly basis. Unless otherwise provided, the first payment shall fall due on the first of the month following the date of retirement.

2. Small Pensions

If a pension under the Plan is less than twenty-five dollars per month, the Administrator may direct that a lump sum settlement be made instead of further payments or benefits under the Plan.

3. Normal Forms of Pension

(A) PENSIONER WITH ELIGIBLE SPOUSE

(a) For a Pensioner with an Eligible Spouse the normal form of pension is one which provides a pension income for the lifetime of the Pensioner and further, upon the death of the Pensioner, continues at sixty percent to the Eligible Spouse, until the death of the Eligible Spouse.

(b) Notwithstanding subsection (a), a Pensioner with an Eligible Spouse may choose among the following variations on the Normal Form of Pension, equivalent in value to the normal form:

(i) a survivor benefit of seventy percent, seventy-five percent, or one hundred percent of the Pensioner's income to continue to the Eligible Spouse;

(ii) attachment of a guarantee period of five, ten or fifteen years;

(iii) a pension payable to a contingent annuitant upon the death of the Joint Annuitant subsequent to the death of the Pensioner. The pension shall cease upon the death of the contingent annuitant.

(B) PENSIONER WITHOUT ELIGIBLE SPOUSE

(a) The normal form of pension for a Pensioner who, on the date of retirement, is without an Eligible Spouse is one which provides a pension for the lifetime of the Employee and, in the event of the death of the Pensioner before sixty pension payments have been made, the balance of the sixty payments shall be paid to the Designated Beneficiary.

(b) Notwithstanding the above, a Pensioner without an Eligible Spouse may choose one of the following optional forms, equivalent in value to the normal form:

(i) Life Pension - No Guarantee

A pension payable for the entire lifetime of the Pensioner but ceasing with the payment made in the month of death.

(ii) Life Pension - Guaranteed Ten Years

A pension payable for the entire lifetime of the Pensioner and for ten years in any event.

(iii) Pension Integrated with Federal Government Benefits

An Employee who retires prior to becoming eligible for CPP/QPP and/or Old Age Security benefits may elect to receive a pension under this Plan which is integrated with the above benefits. Such a pension would be greater in amount prior to the date when the Pensioner becomes eligible for the other benefits and will decrease when those benefits become payable. The integration is designed to provide, as far as is possible a level income from the date of retirement.

(iv) Joint and Survivor Pension

(a) An Employee may elect a pension payable until the death of himself or herself and a Joint Annuitant.

If desired the election might extend to a contingent annuitant who is the survivor of the Pensioner and the Joint Annuitant.

If a Beneficiary is designated under Article XII of this Plan, the Joint Annuitant shall be the Beneficiary so named.

(b) The pension shall not reduce on the first death unless the reduction is elected by the member. The member may elect to have the pension reduce on his or her death by thirty-three and one-third percent or forty percent thus producing a greater pre-death income than would be the case if there were no reduction.

(v) Other Forms of Pension

The Employee may elect another form of pension which is acceptable to the Administrator and is permissible under applicable provincial and federal legislation.

By election of the Employee, a permissible form of pension may be indexed at a rate not exceeding the lesser of four percent and the annual increase in the Consumer Price Index.

4. Amount of Pension Under Optional Forms

The amount of pension payable under any optional form of pension shall be determined on the basis of annuity rates in force at the time of retirement.

5. Timing & Method of Electing Option

An optional form of pension may be elected, changed or revoked, in writing, at any time prior to retirement. An election is irrevocable once pension payments have commenced.

6. Voiding of Joint and Survivor Election

Should either the Employee or the Joint Annuitant die prior to the commencement of pension payments, the election of a Joint and Survivor pension shall be void.

ARTICLE VIII
Termination of Service

1. If an Employee terminates employment prior to normal retirement date the terms of this Article shall apply.

2. Termination With less Than Five Years Service

An Employee who has completed less than five Years of Service will be entitled to a cash payment determined only with reference to Employee Required Contributions, or an Employee may direct that the cash payment remain in the Plan to provide the Employee with a deferred pension from his or her normal retirement date determined in accordance with Article VI (Retirement Benefits).

The amount of the cash payment to an Employee under the terms of this Section shall be the value of his or her units on the Anniversary Date coincident with or immediately preceding the date of payment or a later date, if any, on which the Actuary calculated unit values, increased by interest credited in accordance with Section 8 of Article IV (Units, Employee Accounts and Interest) together with Employee Required Contributions made since the last Anniversary Date.

Where an Employee is entitled by the terms of the Plan to withdraw all of the contributions made by him or her the Employee may direct that the contributions be transferred to a pension plan registered under the Income Tax Act (Canada) of which the Employee becomes a member upon entering into new employment, if the plan so permits, or to a retirement savings plan registered under the Income Tax Act (Canada).

3. Termination With Five Or More Years of Service

An Employee who has completed five Years of Service will receive a deferred pension with respect to his or her Required Contributions and the Required Contributions made by the Participating Employer on the Employee's behalf. In the event the annual amount of the deferred pension payable to a Member in accordance with this Section is less than or equal to the small pension allowed to be commuted under The Pension Benefits Act of the province the commuted value of this deferred pension as determined by the Actuary shall be paid to the terminating member in full satisfaction of all his or her rights under this Plan.

The deferred pension may at the Inactive Member's option become payable commencing on his or her normal retirement date or on a date in the ten year period immediately preceding the Inactive Member's normal retirement date, in either case its amount shall be determined in accordance with Article VI (Retirement Benefits).

The deferred pension shall be non-commutable and incapable of surrender except as provided in Section 1 of Article X (Survivor Benefits) Section 2 of Article VII (Payment of Pensions: Normal and Optional Forms) or Section 4 of Article VIII (Termination of Service).

In the event of death of an Inactive Member before payment of the deferred life annuity has commenced death benefits shall be payable in accordance with Article X (Survivor Benefits).

Where an Employee is entitled by the terms of the Plan to a deferred pension derived from both Employee and Participating Employer contributions the Employee may elect to transfer the value of the deferred pension as determined by the Province on the advice of the Actuary to a locked-in retirement savings plan registered under the Income Tax Act (Canada).

4. Unless otherwise restricted by prior agreement an Employee terminating will receive a cash payment with respect to his or her Transfer under Article XI (Transfers). The cash payment shall be determined in accordance with section 2 of this Article and shall be paid by the end of the calendar year immediately following the year of termination. An Employee may alternatively direct that the cash payment remain in the Plan to provide him or her with a deferred pension from the Employee's normal retirement date determined in accordance with Article VI (Retirement Benefits).

5. Where an Employee terminates service under Section 2 above, the amount of the Participating Employer contribution balance released as a result of the termination shall be paid to the Participating Employer in the calendar year in which the member ceases employment or within one hundred and twenty days after the end of the year.

ARTICLE IX
Withdrawal from Plan

1. While an Employee or an Inactive Member remains in employment with a Participating Employer the person may neither:

(a) withdraw his or her contributions from the Plan; nor

(b) borrow against his or her contributions.

ARTICLE X
Survivor Benefits

1. Survivor Benefits Active or Inactive Employee

In the event of the death of an Employee or Inactive Member other than a Pensioner there shall be payable a lump sum amount equal to the value of units standing to his or her credit on the Anniversary Date coincident with or immediately preceding the date of death or on a later date, if any on which the Actuary calculated unit values, increased by Interest credited in accordance with Section 8 of Article IV (Units, Employee Accounts and Interest) together with Employee Required Contributions and Participating Employer Required Contributions made on his or her behalf since the last Plan Anniversary with the payment being made no later than the end of the calendar year immediately following the calendar year of death of the Member or Inactive Member. Where a lump sum settlement has been made under the terms of Article VIII (Termination of Service), contributions included in the settlement shall be deducted in determining the benefit payable under this Section.

An Employee or Inactive Member with an Eligible Spouse may elect to have his or her Eligible Spouse receive instead of the above amount if the spouse is alive at the time of his or her death, or failing the election a Beneficiary who is the Employee's or Inactive Member's Eligible Spouse and who is alive at the time of his or her death may elect to receive instead of that amount, a life annuity or annuity certain commencing at the time of death. The annuity may be guaranteed for a period of up to fifteen years. The amount of the annuity will be determined in accordance with those methods and tables that are recommended by the Actuary.

2. Survivor Benefits Pensioners

Benefits payable on or after the death of an Employee or Inactive Member shall be payable to his or her Eligible Spouse or in the event there is no Eligible Spouse to the person's Designated Beneficiary as designated in accordance with Article XII (Designated Beneficiaries), however, if there is no Designated Beneficiary or if the person designated by the Employee or Inactive Member as his or her Designated Beneficiary should not be living at the time of his or her death, those amounts that may be payable on or after his or her death shall be payable to the Employee's or Inactive Member's estate. Insofar as benefits may be payable during the lifetime of a surviving Joint Annuitant, those sums shall be payable to the Joint Annuitant.

3. In the event of there being a doubt as to the identity of the Designated Beneficiary or as to whether the Designated Beneficiary is the person legally entitled to receive a benefit, payment of the benefit may be withheld for a reasonable time to permit investigation to be made, and a Designated Beneficiary or claimant shall on demand be obliged to furnish all information and to produce that proof of identity and of right to the benefits that may be reasonable in the circumstances.

ARTICLE XI
Transfers

1. Transfer from Previous Employment

(a) Where there exists a Reciprocal Agreement between a Participating Employer and a previous employer, the Participating Employer will accept deposits into the Fund to the credit of the Employee by way of transfer from the previous employer's registered employee pension fund or deferred profit sharing plan in accordance with the terms of the Reciprocal Agreement. Such a deposit shall be considered to be fifty percent Employee Required Contributions unless an alternate allocation is provided for in the Reciprocal Agreement.

(b) An employee may pay into the Regular Fund, as permitted by the Income Tax Act (Canada) an amount received or receivable by him or her as a cash withdrawal benefit under another employee pension plan registered as such with the Department of National Revenue for purposes of the Income Tax Act (Canada). Such a transfer shall be considered as one hundred percent Employee Required Contributions.

2. Transfer to Other Employment

(a) Where there exists a Reciprocal Agreement between the Participating Employer and the subsequent employer of the Employee, transfer payments may be made into the fund of the subsequent employer's pension plan. The amount of such a transfer shall be determined in accordance with the Reciprocal Agreement but the total amount transferred shall not be greater than the amount due to the Member under Article VIII (Termination of Service).

(b) Where no Reciprocal Agreement exists, a benefit to which the Employee is entitled in accordance with Article VIII (Termination of Service) may be paid into;

(i) the registered employee pension plan of a subsequent employer of the member if

(A) the subsequent employer's plan so permits, and

(B) the employer supplies a written undertaking, satisfactory to the Administrator that the portion of the transfer relating to both his or her Required Contributions and the Participating Employers contributions will be administered so as to provide a pension benefit, and that no lump sum payment of that part will be permitted except upon the death of the Employee or return to employment with a Participating Employer, or

(ii) a registered retirement savings plan of the Employee if

(A) the contract or agreement for the plan between the issuer and the Employee includes a specific and irrevocable provision that no lump sum payment of the portion of the transfer relating to Employee Required Contributions and the Participating Employer's contributions will be available except upon the death of the Employee, or return to employment with Participating Employer or under a decree, order, or judgement of a competent tribunal or a written agreement in settlement of rights arising as a consequence of the breakdown of the marriage or other conjugal relationship between an Employee and his or her Spouse or former Spouse, and

(B) the Participating Employer is supplied with, and approves, a copy of the registered retirement savings plan contract or agreement.

3. Transfer Within the Provincial Plans

(a) If a Member of this Plan transfers into a class of employment such that the Member no longer qualifies for active membership in this Plan, he or she shall become an Inactive Member. In that event the benefits accrued to the Member under the Plan to date of transfer remaining to his or her credit in the Plan, will be governed by the terms of the Plan and will be paid upon the Member's subsequent retirement, disability, termination of service or death, as the case may be. The Member's Continuous Employment subsequent to the date of his or her transfer shall be included for the sole purpose of determining the vesting under Section 2 of Article VIII (Termination of Service).

(b) If an Employee transfers into a class of employment such that the Employee qualifies for membership in this Plan, the Employee shall cease to be a member of any other Participating Employers' pension plan and shall become a Member of this Plan as of the date of transfer.

(c) Notwithstanding paragraphs (a) and (b) Reciprocal Transfer Agreements may be entered into to provide for transfers between different Provincial or Participating Employers plans, those agreements to be administered in accordance with Section 1 of this Article.

ARTICLE XII
Designated Beneficiaries

1. The Designated Beneficiary in the case of an Employee with an Eligible Spouse shall be the Eligible Spouse.

2. An Employee domiciled in Canada, who is without an Eligible Spouse may, at any time designate a person to receive a benefit payable under the Plan in the event of death prior to retirement by filing with the Participating Employer the designation in writing on a form provided by the Administrator.

3. An Employee who has made a designation in accordance with Section 2 above may from time to time alter or revoke the designation by filing with the Participating Employer the alteration or revocation in writing on a form provided by the Administrator subject to the consent of the Participating Employer and to any statutory conditions or limitations.

4. Once an Employee has an Eligible Spouse a prior designation made in accordance with Sections 2 and 3 shall be null and void.

5. An Employee who is without an Eligible Spouse may upon commencement of a pension designate a person to receive benefits payable under the Plan in the event of the Employee's death by filing with the Participating Employer a designation in writing on a form provided by the Administrator for that purpose, subject to the consent of the Participating Employer and to statutory conditions or limitations.

ARTICLE XIII
Limitation of Assignment

1. No right, entitlement or benefit of a Member under the Plan may be surrendered or assigned except under a decree, order or judgement of a competent tribunal, or a written agreement, in settlement of rights arising as a consequence of the breakdown of the marriage or other conjugal relationship between a Member and his or her Spouse or former Spouse.

ARTICLE XIV
Funds, Custodian and Accounts

1. The funds shall be established and administered by the Custodian, in accordance with the terms of an agreement executed between the Minister and the Custodian and in accordance with the requirements for registered pension plans as outlined in the Income Tax Act (Canada) and other applicable legislation.

2. The Custodian shall keep a separate account of the funds in the format that is outlined in this Article.

3. The Custodian shall maintain a separate account to be known as the Regular Fund which will consist of all contributions made after the Effective Date in accordance with the terms of the Plan by Participating Employers and Employees together with earnings on it. The assets of the Regular Fund shall be invested in the manner that may be considered appropriate by the Investment Counsel and agreed to by the Committee.

4. The Custodian shall maintain a separate account to be known as the Short-Term Investment Fund which will consist of assets resulting from the application of Section 6 of Article IV (Units, Employee Accounts and Interest). The assets of the Short Term Investment Fund shall be invested in securities considered by the Investment Counsel to be short-term and approved by the Committee.

5. The Custodian shall maintain a separate account to be known as the Annuity Fund which will consist of assets resulting from the application of Section 6 of Article XV (Administration and Procedures). The assets of the Annuity Fund shall be invested in the manner that may be considered appropriate by the Investment Counsel and agreed to by the Committee.

6. Death and termination benefits under the Plan shall normally be provided directly from the Regular Fund or Short Term Investment Fund. Pension benefits and death benefits related to Pensioners shall be paid directly from the Annuity Fund.

7. Each Fund shall be chargeable annually with its proportionate share of the fees of the Custodian, the Investment Counsel, the Actuary, the Administrator and other expenses in respect of the Plan reasonably and properly incurred under the Plan.

8. The Custodian shall at all times keep or cause to be kept adequate accounts of each Fund. Those accounts shall be maintained on a calendar year basis.

9. Each fund shall have a fiscal year ending December 31st.

ARTICLE XV
Administration and Procedures

1. The Committee shall oversee the operation of the Plan.

2. The Committee shall keep a permanent record of minutes of its meetings and of its decisions. The quorum for meetings of the Committee may be fixed by the Committee. Any writing required to transmit or record decisions of the Committee shall be sufficiently executed when signed by the Chairperson. In all other matters relating to the conduct of its affairs the Committee may make its own rules and regulations.

3. Upon a request of the Committee the Minister may modify, amend or revise the plan from time to time so as to meet the aims and objectives of the Plan and satisfy the requirements of applicable legislation.

4. The Committee shall from time to time receive reports from the Actuary, Investment Counsel, and Custodian. As a result of these reports the Committee may recommend certain courses of action to the Minister.

5. (1)A Pension or an annuity under the Plan shall be granted by the Administrator and payment of it shall be made only upon written request in the manner prescribed by the Administrator, and only after submission of satisfactory proof of age of the Employee or Inactive Member and of the age of the Joint Annuitant if one has been appointed or the age of the Eligible Spouse where applicable.

(2) Age may be proved by official birth certificate issued by the appropriate public authority. If the person is unable to obtain an official birth certificate evidence of age satisfactory to the Administrator in its reasonable discretion must be produced.

(3) Payment of a benefit under the Plan other than a pension or annuity shall be made only upon receipt of written request for it in the manner prescribed by the Administrator and upon submission of the relevant supporting evidence as the Administrator in his or her discretion may require.

6. The Administrator shall direct the Custodian to apply sufficient money from the Short Term Investment Fund to the purchase of a pension from the Annuity Fund at the time before or after retirement that the Investment Counsel and Administrator may determine.

7. A person receiving or claiming a pension or an annuity under the Plan shall at any and all times, on demand, furnish satisfactory evidence of entitlement for those purposes.

8. Notwithstanding anything in the Plan to the contrary, if a written request for pension is made after the date on which the pension should have commenced, then payments shall be made retroactively to that date.

ARTICLE XVI
General

1. No Employee, Pensioner, Inactive Member, Beneficiary or Joint Annuitant, shall have any recourse under this Plan against a past, present or future Custodian, Administrator, Participating Employer or other employee or person acting on behalf of those persons or member of the Committee, and all those persons shall be free from all liability.

2. The Plan shall not:

(a) give an Employee a right to be retained in the Service of a Participating Employer;

(b) prevent a Participating Employer from discharging an Employee at any time;

3. All contributions to and all benefits made from the Plan shall be payable in the lawful currency of Canada.

4. In case the age of a person is found to have been incorrectly stated the Administrator is empowered to make or cause to be made those adjustments respecting the person, for the purposes of the Plan, that the Administrator shall consider equitable.

1990 c12 Sch A

Schedule B

Institutions or Organizations

Alcohol and Drug Dependency Commission

Carbonear General Hospital

Dr. Charles LeGrow Health Centre

A.M. Guy Memorial Hospital

Agnes Pratt Home

Baie Verte Peninsula Health Centre

Bay Roberts Group Home

Bonavista Peninsula Health Care Complex

Bay D'Espoir, Hermitage, Fortune Bay Integrated School Board

Cape Freels Integrated School Board

Carbonear Interfaith Home for Senior Citizens

Exploits Valley Integrated School Board

Salvation Army Glenbrook Lodge

St. Augustine's Group Home

The General Hospital Corporation

St. John's Youth Centre

Newfoundland Liquor Corporation

Memorial United Church Group Home (Grand Falls)

Newfoundland Cancer Treatment and Research Foundation

Placentia and Area Healthcare Complex (Placentia Hospital)

Roman Catholic School Board Placentia - St. Mary's

Whitbourne Youth Centre

Roman Catholic School Board Humber - St. Barbe

Cabot Institute

Hoyles - Escasoni Complex

Avalon Consolidated School Board

Waterford Hospital

Salvation Army Grace General Hospital

Janeway Child Health Centre

St. Patrick's Mercy Home

St. Clare's Mercy Hospital

Canada Newfoundland Offshore Petroleum Board

Humber Valley Association Group Home

Interfaith Home for Senior Citizens (Corner Brook)

Roman Catholic School Board for St. John's

Vinland Integrated School Board

Public Libraries Board

Children's Rehabilitation Centre

Gander and District Continuing Care

VS Services Limited

Bonnews Lodge

Marystown Community Living Foundation

Lewisporte Group Home

Mercy Residence

North Haven Manor

The Newfoundland Liquor Licensing Board

Harbour Lodge

St. Luke's Home

Lakeside Homes

Nova Services

Burin Peninsula Integrated School Board

Senior Citizens Home, St. Anthony

Lions Manor Nursing Home

Gander Regional Youth Assessment Centre

Roman Catholic School Board, Ferryland District

Conception Bay North Association for Community Living

Newfoundland Co-ordinating Council on Deafness

Modern Building Cleaning Ltd.

Newfoundland and Labrador Housing

Notre Dame Bay Memorial Hospital

Port aux Basques Group Home

Port aux Basques Integrated School Board

Roman Catholic School Board - Labrador

Sir Thomas Roddick Hospital

Western Memorial Hospital

Newfoundland and Labrador Computer Service

Masonic Park Nursing Home

Bay St. George Residential Support Board

Association of Registered Nurses of Newfoundland

Eastern Newfoundland and Labrador Children's Home Inc.

Grand Bank Group Home

Bonavista - Trinity Placentia Integrated School Board

Burin Peninsula Healthcare Centre

Golden Heights Manor

Bonavista Peninsula Healthcare Program

Central Newfoundland Regional Health Center

Pentecostal Assemblies Board of Education

Grenfell Regional Health Services

Gander Group Home

Captain William Jackman Hospital

Gander and District Hospital Board

Green Bay Healthcare Centre

St. John's Home Care Program

Corner Brook Transition House

Dr. G.B. Cross Memorial Hospital

Avalon North Integrated School Board

Notre Dame Bay Integrated School Board

St. David's Group Home

Bay St. George Senior Citizens Home

Carmelite House

The Harry L. Paddon Memorial Home

1990 c12 Sch B