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Volume 45, No. 1

B.C. Reg. 4/2002

The British Columbia Gazette,

Part II

January 29, 2002

B.C. Reg. 4/2002, deposited January 24, 2002, pursuant to the

PUBLIC SECTOR PENSION PLANS ACT [section 13 (1) and (3)]. Regulation of the College of Pension Board of Trustees dated January 10, 2002.

The College Pension Board of Trustees orders that, effective March 1, 2002, B.C. Reg. 95/2000, the College Plan Regulation, is amended as set out in the attached Schedule. — J. W. COOK, Chair, College Pension Board of Trustees.

Schedule

1 Sections 9, 10, and 16 of B.C. Reg. 95/2000, the College Pension Plan Regulation, are repealed and the following substituted:

Enrollment arrears

(1) If an employer has not made deductions under

section 5 (1) or (1.1) from the date an employee becomes eligible to contribute to the pension fund, the plan administrative agent must order the employer

(

a) to commence making deductions immediately, and

(

b) to pay to the pension fund, at the time and in the manner specified by the plan administrative agent,

(

i) an amount determined in accordance with

section 6 (1) or (1.1) but using the member's full-time equivalent salary payable for the most recent month of employment

multiplied by

(ii) the number of months and fractions of a month of pensionable service to be credited from the employee's eligibility date to the date contributions commenced in accordance with paragraph (a),

and the employer must comply with the order.

(2) An active member who receives a notice of enrollment arrears on or after March 1, 2002 may, at the member's option, apply to the plan administrative agent to purchase those arrears but such application must be made on or before the earlier of

(a) 5 years from the date the arrears notice is sent to the employee, and

(

b) the termination of employment.

(3) An active member who received a notice of enrollment arrears before March 1, 2002 may, at the member's option, apply to the plan administrative agent to purchase those arrears, but such application must be made on or before the earlier of

(

a) February 28, 2007, and

(

b) termination of employment.

(4) For the purposes of subsections (2) and (3), the active member must pay to the pension fund, at the time and in the manner specified by the plan administrative agent,

(

a) an amount determined in accordance with

section 5 (1) or (1.1) but using the member's full-time equivalent salary payable for the most recent month of employment

multiplied by

(

b) the number of months and fractions of a month of pensionable service to be credited from the employee's eligibility date to the date contributions commenced in accordance with subsection (1) (a).

(5) If both the employer and member make the contributions referred to in subsections (1) (

b) and (4), the period of service in respect of which contributions are made is contributory and pensionable service within the meaning of this Plan.

(6) If only the employer portion is paid under subsection (1) (b),

(

a) all of the period of service in respect of which employer contributions have been made is contributory service, and

(b) 1/2 of the period of service in respect of which employer contributions have been made is pensionable service.

(7) This

section does not apply to a period of service waived by an employee under

section 3 (2) or 4 (3).

(8) An order to pay made under subsection (1) is due and payable by the employer immediately on receipt in accordance with the terms of the order.

Payroll arrears

(1) If an employer has failed at any time to make the deductions required by

section 5 (1) or (1.1) or the contributions required by

section 6 (1) or (1.1), or both, in respect of an active member, the plan administrative agent must order the employer to make those deductions and contributions in accordance with subsection (2) for the period during which the required deductions and contributions were not made, and the employer must comply with the order.

(2) The amount payable under subsection (1) is

(

a) the sum of the amounts determined in accordance with sections 5 (1) or (1.1) and 6 (1) or (1.1) but using the member's full-time equivalent salary payable for the most recent month of employment

multiplied by

(

b) the number of months and fractions of a month of pensionable service to be credited for which the failure to make deductions or contributions, or both, occurred.

(3) Subsection (1) does not apply to enrollment arrears under

section 9.

(4) An order to pay made under subsection (1) is due and payable by the employer immediately on receipt.

Leaves of absence for pregnancy or parental reasons

(1) Subject to

section 19, if an active member is or was absent from service by reason of pregnancy leave or parental leave and the leave of absence is approved by the employer, the active member may apply to purchase that leave and must pay to the pension fund an amount determined in accordance with

section 19 (1).

(2) If the leave of absence is for pregnancy leave, only leaves ending on or after March 14, 1981 are eligible for purchase under this section.

(3) If the leave of absence is for parental leave, only leaves ending on or after March 22, 1991 are eligible for purchase under this section.

(4) Subsections (2) and (3) and this subsection are repealed on March 1,

Section 17 is repealed.

3 Sections 18 and 19 are repealed and the following substituted:

Leaves of absence for other reasons

18 Subject to

section 19, if an active member is or was absent from service for a reason other than under

section 16 and the period of leave of absence is approved by the employer, the active member may apply to purchase that leave and must pay to the pension fund an amount determined in accordance with

section 19 (3).

Payment and conditions for leaves of absence

(1) In order to purchase a leave of absence under

section 16, the member must pay to the pension fund, at the time and in the manner specified by the plan administrative agent,

(

a) an amount determined in accordance with

section 5 (1) or (1.1) but using the member's full-time equivalent salary payable for the most recent month of employment

multiplied by

(

b) the number of months and fractions of a month of pensionable service to be credited for the leave period.

(2) If the member pays the amount required by subsection (1), the employer must pay to the pension fund, at the time and in the manner specified by the plan administrative agent,

(

a) an amount determined in accordance with

section 6 (1) or (1.1) but using the member's full-time equivalent salary payable for the most recent month of employment

multiplied by

(

b) the number of months and fractions of a month of pensionable service to be credited for the leave period.

(3) In order to purchase a leave of absence under

section 18, the member must pay to the pension fund, at the time and in the manner specified by the plan administrative agent,

(

a) the sum of the amounts determined in accordance with sections 5 (1) or (1.1) and 6 (1) or (1.1) but using the member's full-time equivalent salary payable for the most recent month of employment

multiplied by

(

b) the number of months and fractions of a month of pensionable service to be credited for the leave period.

(4) If payment is made in accordance with subsections (1) and (2) or subsection (3),

(

a) the payment is considered to be contributions made by the member under

section 5 (1) or (1.1) and by the employer under

section 6 (1) or (1.1), and

(

b) the period of service to which payment relates is contributory and pensionable service.

(5) An application under

section 16 or 18 to purchase a period of leave of absence that ends on or after March 1, 2002 must be made on or before the earlier of

(

a) the date which is 5 years from the end of the period of leave that is being purchased, and

(

b) the termination of employment.

(6) An application under

section 16 or 18 to purchase a period of leave of absence that ended before March 1, 2002 must be made on or before the earlier of

(

a) February 28, 2007, and

(

b) the termination of employment.

Section 20 is amended by adding the following subsection:

(2.1) If a former member who has taken a refund with respect to a period of service which ended on or after January 1, 1998 again becomes an active member, that refund may not be reinstated.

Section 21 is renumbered as

section 21 (1) and the following subsections are added:

(2) A person who becomes an active member on or after March 1, 2002 may apply to reinstate a refund under this

section on or before the earlier of

(

a) the date which is 5 years from the time contributions to the plan recommenced, and

(

b) termination of employment.

(3) A person who was an active member on February 28, 2002 may apply to reinstate a refund under this

section on or before the earlier of

(

a) February 28, 2007, and

(

b) termination of employment.

Section 24 is amended by adding the following subsections:

(5) A person who, on or after March 1, 2002, becomes an active member in a pension plan included in the Interplan Pension Transfer Agreement may apply to repay a refund under this

section on or before the earlier of

(

a) the date which is 5 years from the time contributions to the plan commence, and

(

b) the termination of employment.

(6) A person who, on or before February 28, 2002, became an active member in a pension plan included in the Interplan Pension Transfer Agreement may apply to repay a refund under this

section on or before the earlier of

(

a) February 28, 2007, and

(

b) the termination of employment.

Section 26 (

b) is repealed and the following substituted:

(

b) if the service

(

i) was performed with an employer to whom this Plan applies, whether or not that employer is the member's current employer,

(ii) was, at the time it was performed, eligible for contributions under the Plan and the member elected in writing not to be a member under this Plan, and

(iii) occurred before September 1, 1999.

8 Sections 27 and 28 are repealed and the following substituted:

Conditions for recognition of contributory and pensionable service

27 An active member may apply to purchase service under

section 26 at any time before the earlier of

(

a) February 28, 2007, and

(

b) termination of employment.

Calculation of member and employer contributions

(1) Subject to subsections (2) and (3), in order to purchase service under

section 26 the active member must pay to the pension fund, at the time and in the manner specified by the plan administrative agent, the full cost to purchase the period of non-contributory service.

(2) The amount payable under subsection (1) is

(

a) the sum of the amounts determined in accordance with sections 5 (1) or (1.1) and 6 (1) or (1.1) but using the member's full-time equivalent salary payable for the most recent month of employment

multiplied by

(

b) the number of months and fractions of a month of pensionable service to be credited for the period of non-contributory service.

(3) Despite subsection (1), the full cost to purchase the period of non-contributory service may be shared by the active member and the employer in such proportions as they may agree.

(4) One-half of the amount contributed under subsection (2) is considered to be contributions made by the member under

section 5 (1) or (1.1) and one-half is considered to be contributions made by the employer under

section 6 (1) or (1.1).

Section 41 (3) is repealed and the following substituted:

(3) A member cannot purchase service under this Part that would result in pensionable service in excess of

(a) 12 months pensionable service in a calendar year, or

(

b) a cumulative total of 35 years pensionable service.

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