Bill 218 (Legislature 23, Session 5)

L23 S5 1118

Alberta — Bills

1997 BILL 218 Fifth Session, 23rd Legislature, 46 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL 218 MEMBERS OF THE LEGISLATIVE ASSEMBLY PENSION PLAN AMENDMENT ACT, 1997 MRS. ABDURAHMAN First Reading Second Reading Committee of the Whole Third Reading Royal Assent

Bill 218 Mrs. Abdurahman BILL 218 1997 MEMBERS OF THE LEGISLATIVE ASSEMBLY PENSION PLAN AMENDMENT ACT, 1997 (Assented to , 1997) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1 The Members of the Legislative Assembly Pension Plan Act is amended by this Act. 2

Section 17 is amended by adding the following after subsection (4):

(4.1) Notwithstanding any other provision in this Act, after December 31, 1997, no person is entitled to commence receiving a pension under subsection (2) until the person attains the age of 55 years. 3

Section 23 is amended by repealing subsections (1) and (2) and substituting the following: 23(1) Notwithstanding anything in this Schedule, the Lieutenant Governor in Council may by regulation, for the purpose of maintaining approximate parity with the cost of living, make adjustments in the amounts payable as pensions, where the amount received by the pension recipient is less than $24,000 per year, but in no event may make any adjustment pursuant to this

section to increase a pension, if the annual payment to the person exceeds $24,000 per year. 1

Explanatory Notes 1 Amends

chapter M-12.5 of the Statutes of Alberta, 1985. 3

Section 23(1) and (2) presently reads: 23(1) Notwithstanding anything in this Schedule, the Lieutenant Governor in Council may by regulation, for the purpose of maintaining approximate parity with the cost of living, make adjustments in the amounts payable as pensions.

(2) No adjustment under subsection (1) may reduce a person's pension to an amount below that to which the Plan, apart from that subsection, entitles him. 1 Explanatory Notes

(2) Each pension paid pursuant to this Act shall on January 1, 1998 be reduced by 5 % of the amount that exceeds $24,000, and thereafter on January 1 of every following year be reduced by a further 5% on the amount that exceeds $24,000 until the Provincial Treasurer tables in the Legislative Assembly a report pursuant to the Balanced Budget and Debt Elimination Act indicating that the Crown debt is retired. 2 Title: 1997 (23rd, 5th) Bill 218, Members of the Legislative Assembly Pension Plan Amendment Act, 1997

Document details

Collection	Alberta — Bills
Citation	L23 S5 1118
Type	bill
Volume / chapter	L23 S5 1118
Language	en
Format	json
Source	PROVINCIAL
Identifier	4324ec6f4a69713091e2698abd02b4b292b8661f

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