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S.M. 1986-87, c. 22

An Act to amend The Teachers' Pensions Act

(Assented to September 10, 1986)

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

Subsec. 8.1(1) am.

1

Subsection 8.1(1) of The Teachers' Pensions Act being chapter T20 of the Continuing Consolidation of the Statutes of Manitoba, is amended by striking out the word "A" in the 1st line thereof and substituting therefor the words and figures "Notwithstanding section 3 and subsections 21(5.5) and (5.7) of The Pension Benefits Act, a".

Subsec. 8.1(2.1) am.

2

Subsection 8.1(2.1) of the Act is amended by striking out the word "A" in the 1st line thereof and substituting therefor the words and figures "Notwithstanding section 3 and subsections 21(5.5) and (5.7) of The Pension Benefits Act, a".

Subsec. 10(1) am.

3

Subsection 10(1) of the Act is amended by striking out the figure "7" in the 3rd and 4th lines thereof.

Subsec. 10(2) am.

4

Subsection 10(2) of the Act is amended by striking out the figure "7" in the 5th line thereof.

Cls. 27(4.1)(a) and (b) rep. and sub.

5

Clauses 27(4.1)(a) and (b) of the Act are repealed and the following clauses are substituted therefor:

(a) a life annuity to the surviving spouse or common law spouse; or

(b) where there is no surviving spouse or common law spouse, a lump sum to the beneficiary or in the absence of a beneficiary, to the estate of the deceased;.

Subsec. 27.1(2) am.

6

Subsection 27.1(2) of the Act is amended by striking out the figure "7" in the 6th line thereof.

Subsec. 27.1(3) am.

7

Subsection 27.1(3) of the Act is amended by adding thereto immediately after the word "Act" in the 1st line thereof the words and figures "and section 3 and subsection 21(5.7) of The Pension Benefits Act".

Subsec. 27.1(4) am.

8

Subsection 27.1(4) of the Act is amended by striking out the figure "7" in the 6th line thereof.

Sec. 27.2 added.

9

The Act is further amended by adding thereto, immediately after section 27.1 thereof, the following section:

Lump sum benefit instead of monthly payment.

27.2

Where a person is entitled to a monthly benefit from the fund under this Act that amounts to less than $25. per month, the board may instead make a lump sum payment to the person in an amount equal to the commuted value of the monthly benefit to which the person is entitled.

Subsec. 30.1(1) am.

10

Subsection 30.1(1) of the Act is amended by striking out the word "where" in the 1st line thereof and substituting therefor the words and figures "Notwithstanding section 3 and subsection 21(5.5) of The Pension Benefits Act, where".

Sec. 32 am.

11

Section 32 of the Act is amended by striking out the words and figures "Subject to section 57" in the 1st line thereof.

Subsec. 32.1(3) added.

12

Section 32.1 of the Act is amended by adding thereto, immediately after subsection (2) thereof, the following subsection:

Application of funds for purposes of a reciprocal transfer.

32.1(3)

When a person has made a remittance in accordance with subsection (1) and has not had his or her refunded service reinstated under subsection (2) and elects to have his or her refunded service reinstated for the purposes of a reciprocal transfer as provided in section 32.4, the amount of the remittance that was made in accordance with subsection (1) together with interest thereon at a rate equal to the average rate of interest earned by the fund during the period from the date of remittance to the date of the transfer under section 32.4 shall be applied against the amount required to be remitted by that person under section 32.4.

Secs. 32.4 and 32.5 added.

13

The Act is further amended by adding thereto, immediately after section 32.3 thereof, the following sections:

Remittance of refund for purposes of a reciprocal transfer.

32.4

A person who has applied for and received a refund from the fund and

(a) has service under the pension plan of a Canadian pension authority with whom the board has entered into a reciprocal transfer agreement subsequent to the period of service under this Act in respect of which the refund was made; and

(b) has not again become a teacher or a person to whom section 58, 59, or 62 applies; may, only for the purpose of a transfer of service to the pension plan of the Canadian pension authority with whom the board has entered into an agreement under subsection 36(9) or (10.1), reinstate the service in respect of which the refund was made by remitting to the fund an amount equal to twice the contributions that had been

refunded together with interest thereon at the stipulated rates provided for under the agreement compounded annually and calculated in respect of the period between the date the first of the refunded contributions was made to the fund and the date the transfer is to be made.

Additional payment for the purpose of a reciprocal transfer.

32.5

Where a person, who has credit under this Act for service as a teacher and subsequently became employed in his or her jurisdiction of retirement before 1st July, 1973, applies to the board for a transfer of his or her pensionable service to his or her jurisdiction of retirement in accordance with a reciprocal transfer agreement entered into under subsection 36(9) or (10.1), the board may make the transfer only if the person remits to the fund an amount equal to twice the contributions made with respect to which the person has credit for service as a teacher under this Act together with interest thereon at the stipulated rates provided for under the agreement compounded annually and calculated in respect of the period between the date contributions were made to the fund and the date the transfer is to be made, less the amount of contributions to his or her credit in the fund, including interest thereon at the average rate of interest earned by the fund, compounded annually, in respect of the period between the date contributions were made to the fund and the date the transfer is to be made.

Subsec. 36(11) am.

14

Subsection 36(11) of the Act is amended by striking out the figures "(10)" where they appear in the 3rd and 10th lines thereof and substituting therefor, in each case, the figures "(10.1)".

Subsec. 37(2) am.

15

Subsection 37(2) of the Act is amended by striking out the words "In the absence of the Deputy Minister of Finance from The City of Winnipeg, or in the event of his inability" in the 1st and 2nd lines thereof and substituting therefor the words "In the event of the absence or inability of the Deputy Minister of Finance".

Subsec. 42(6) added.

16

Section 42 of the Act is amended by adding thereto, immediately after subsection (5) thereof, the following subsection:

Treatment of pre-July, 1973 transferred service.

42(6)

Where, under subsection (3), (4), or (5), a transfer from Account B to Account A is to be made in respect of a benefit resulting from a person who transferred employment from a reciprocating employer before July 1, 1973 to employment in Manitoba as a teacher or a person to whom section 58 applies, the portion of the benefit attributable to pensionable service of that person transferred under a reciprocal agreement shall not be taken into account in determining the amount of the transfer from Account B.

Cl. 67(i) am.

17

Clause 67(i) of the Act is amended by adding thereto immediately after the word "subsection" in the 2nd line thereof the figure and word "(9) or".

Commencement of Act.

18(1)

Subject to subsections (2) and (3), this Act comes into force on the day it receives the royal assent.

Retroactive to January 1, 1986.

18(2)

Sections 1, 2, 7 and 10 of this Act are retroactive and shall be deemed to have come into force on, from and after the 1st day of January, 1986.

Retroactive to June 1, 1986.

18(3)

Sections 12, 13 and 16 of this Act are retroactive and shall be deemed to have come into force on, from and after the 1st day of June, 1986.