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Second Session, Thirty-Ninth Legislature

This version is based on the printed bill that was distributed in the Legislature after First Reading.   It is not the official version.   If accuracy is critical, you can obtain a copy of the printed bill from Statutory Publications or view the online bilingual version (PDF).

Bill 212

THE TEACHERS' PENSIONS AMENDMENT ACT


Explanatory Note

(Assented to                                         )

HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:

C.C.S.M. c. T20 amended

1           The Teachers' Pensions Act is amended by this Act.

2(1)        Subsection 41(1) is amended

(a) by striking out "seven" and substituting "nine"; and

(b) by adding ", at least one of whom has investment management experience" at the end.

2(2)        The following is added after subsection 41(5):

Appointment of member nominated by RTAM

41(5.1)     One of the board members must be a retired teacher appointed from a list of nominees provided to the minister by the Retired Teachers' Association of Manitoba Inc.

2(3)        Subsection 41(7) is amended by striking out "Four" and substituting "Five".

2(4)        Subsection 41(8) is amended by striking out "four" wherever it occurs and substituting "five".

Coming into force

3           This Act comes into force 30 days after the day it receives royal assent.

Explanatory Note

This Bill amends the section of The Teachers' Pensions Act about the Teachers' Retirement Allowances Fund Board by

  • increasing the number of board members to nine;
  • requiring at least one member to have investment management experience; and
  • requiring one member to be a retired teacher nominated by the Retired Teachers' Association of Manitoba Inc.