Newfoundland and Labrador Gazette, Part II — 11 December 2017 (Extraordinary Issue) — Regulations NLR 106/17, NLR 107/17, NLR 114/96

NLG 2017-12-11

Newfoundland and Labrador — Gazette

ST. JOHN’S, MONDAY, DECEMBER 11, 2017 THE NEWFOUNDLAND AND LABRADOR GAZETTE EXTRAORDINARY

PART II PUBLISHED BY AUTHORITY NEWFOUNDLAND AND LABRADOR REGULATIONS NLR 106/17 NLR 107/17

NEWFOUNDLAND AND LABRADOR REGULATION 106/17 Pension Benefits Act Regulations (Amendment) under the Pension Benefits Act, 1997 (O.C. 2017- 352) (Filed December 11, 2017) Under the authority of

section 78 of the Pension Benefits Act, 1997, the Lieuten ant-Governor in Council makes the following regulations. Dated at St. John’s, December 8, 2017. Ann Marie Hann Clerk of the Executive Council REGULATIONS Analysis 1. S.4 1 Amdt. Application to public sector plans 1. (1) Subsection 41(2) of the Pension Benefits Act Regulatio ns is repealed and the following substituted:

(2) Notwithstanding subsection (1), the following provisions of the Act shall not apply to the Uniformed Services Pension Plan and Teachers' Pension Plan: NLR 114/96 as amended 3 Extraordinary Gazette December 11, 2017

Pension Benefits Act Regulations (Amendment) 106/17 (a) subsection 20(1) with respect to void amendments; (

b) section 35 with respect to funding; (

c) section 39 with respect to the 50% rule; (

d) section 40 with respect to portability; (

e) section 41 with respect to pre-retirement death benefits; (

f) the 2 year period of time prescribed for re quired vesting under subsection 43(1); and (g) paragraph 48(2)(

a) with respect to marriage breakdown.

(2.1) Notwithstanding subsection (1), the following provisions of the Act shall not apply to the Members of the House of Assembly Pension Plan: (a) subsection 20(1) with respect to void amendments; (

b) section 35 with respect to funding; (

c) section 39 with respect to the 50% rule; (

d) the 2 year period of time prescribed for re quired vesting under subsection 43(1); and (

e) section 29 with respect to early retirement for members elected for the first time on or after November 30, 2015. ©Queen's Printer 4 Extraordinary Gazette December 11, 2017

NEWFOUNDLAND AND LABRADOR REGULATION 107/17 Pension Benefits Act Regulations (Amendment) under the Pension Benefits Act, 1997 (O.C. 2017-353) (Filed December 11, 2017) Under the authority of

section 78 of the Pension Benefits Act, 1997, the Lieutenant -Governor in Council makes the following regulations. Dated at St. John’s, December 8, 2017. Ann Marie Hann Clerk of the Executive Council REGULATIONS Analysis 1. S.41 Amdt. Application to public sector plans 2. Commencement 1. (1) Subsection 41(4) of the Pension Benefits Act Regulations is repealed and the following substituted:

(4) Notwithstanding subsection (1), the Memorial University Pension Plan is NLR 114/96 as amended 5 Extraordinary Gazette December 11, 2017

Pension Benefits Act Regulations (Amendment) 107/17 (

a) exempt for the period from April 1, 2016 to December 31 , 2018 from the requirement that the employer pay an amount under paragraph 12(3)(

d) of these regulations; (

b) exempt from the requirement under paragraph 12(3)(

c) of these regulations to liquidate the going concern unfunded liability arising from the cost of providing indexed benefits in relation to past service under

section 24.1 of the Memorial University Pensions Act within the prescribed 15 year period and is instead permitted to liquidate this liability within 40 years from the day that indexing is effective; and (

c) exempt for the period from April 1, 2016 to March 31, 2017 from the requirement that the employer pay an amount under paragraph 12(3)(

c) of these regulations. (2) Subsections 41(4.2) to (4.4) of the regulations are repealed and the following substituted:

(4.2) Notwithstanding paragraph (4)(c), money required to be paid by the employer during the pe riod from April 1, 2016 to March 31, 2017 shall be added to the end of the going concern special payment schedules in effect on April 1, 2016.

(4.3) The going concern special payment schedules in effect on April 1, 2016 based on the actuarial report of December 31, 2015 shall recommence on April 1, 2017 and shall be adjusted to add (

a) one year of accrued interest; and (

b) one additional year for payment.

(4.4) The interest referred to in subsection (4.3) shall be based on the going concern discount rate from the December 31, 2015 actua rial report. 2. These regulations are considered to have come into force on April 1, 2016. ©Queen's Printer Commencement 6 Extraordinary Gazette December 11, 2017

Extraordinary Gazette Index Title of Act and Subordinate Legislation made thereunder CNLR or NL Reg. Amendment NL Gazette Date & Page No. Pension Benefits Act, 1997 Pension Benefits Act Regulations (Amendment) NLR 106/17 Amends NLR 114/96 S.41 Amdt. December 11/17 p. 3 Pension Benefits Act Regulations (Amendment) NLR 107/17 Amends NLR 114/96 S.41 Amdt. December 11/17 p. 5 ST. JOHN’S, MONDAY, DECEMBER 11, 2017 7

Document details

Collection	Newfoundland and Labrador — Gazette
Citation	NLG 2017-12-11
Type	gazette
Volume / chapter	printer gazette extraordinary issues 2017 nlg171211 extra
Language	en
Format	pdf
Source	PROVINCIAL
Identifier	bc9ea2826cca2b56660f1d79c505cc46fc92d24d

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