OIC Number: 2001 - 348

Date of Order: Jul 19, 2001

Statute: Public Service Superannuation Act

OIC Text: The Governor in Council, on the joint report and recommendation of the Ministers of Finance and Economic Development dated July 10, 2001, and pursuant to

Section 20 of

Chapter 377 of the Revised Statutes of Nova Scotia, 1989, the Public Service Superannuation Act, and to every other power and authority vested in the Governor in Council, is pleased to determine that: (

a) the service of the President and Chief Executive Officer and all full-time employees of the Nova Scotia Business Incorporated (NSBI) who are not already eligible pursuant to subsections 37(11) and (12) of the Nova Scotia Business Incorporated Act ("NSBI Act"), are deemed to be and to have been persons employed in the public service of the Province for all purposes of the Public Service Superannuation Act and service as such an employee is deemed to be service in the public service of the Province; (

b) the service of the persons referred to in paragraph (

a) of this Order, if employed by NSBI prior to the proclamation date of relevant sections of the NSBI Act, be recognized as pensionable service provided that there is paid by NSBI into the Public Service Superannuation Fund an amount or amounts equal to the actuarial cost of such service as determined by the Minister of Finance; (

c) NSBI shall deduct from the salary of such persons such amount as is directed by the Governor in Council to be deducted from the salary of employees in the public service of the Province and shall pay the same to the Minister of Finance, and such amounts when so received shall be paid into and form part of the Public Service Superannuation Fund established pursuant to the Public Service Superannuation Act; (

d) where pursuant to the Public Service Superannuation Act a payment is required to be made into the Public Service Superannuation Fund by the Minister of Finance or where pursuant to that Act the superannuation allowance or other sum is directed to be paid out of the Consolidated Fund of the Province, then in respect of such employee, the payment, superannuation allowance or other sum shall be paid by NSBI and shall form part of the annual expenses of NSBI; (

e) the President and Chief Executive Officer and all full-time NSBI employees be covered under the Province of Nova Scotia Group Life Assurance Plan, Policy No. 71298, Consolidated Health and Dental Plan and other benefit plans accorded to eligible employees in the Public Service of Nova Scotia, and that the appropriate employee deductions and employer contributions be made by NSBI; (

f) NSBI seek approval from the Trustees of the Nova Scotia Public Service Long Term Disability Plan (LTD) to have the persons referred to in paragraph (

a) of this Order, covered under the LTD Plan.

Department(s): Economic Development (Aug 1999 - Jan 2009) Finance