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S.M. 2009, c. 30
Bill 8, 3rd Session, 39th Legislature
The Civil Service Superannuation Amendment Act (Enhanced Manitoba Hydro Employee Benefits and Other Amendments)
(Assented to October 8, 2009)
HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:
The definition "employee" in subsection 1(1) is amended by adding the following after clause (l):
(m) a person employed by the government under a collective agreement under which the government is required to make contributions to a retirement savings or benefit plan that is not provided for in or under this Act;
The following is added after subsection 6(4):
The Lieutenant Governor in Council may, by regulation, designate an employer as a matching employer for the purpose of subsection (5) in respect of any or all of the employees of that employer. The designation may be retroactive to a date no earlier than one year before the designation is made.
Subsection 6(5) is replaced with the following:
In each period during which an employee contributes to the fund by way of a deduction from salary, wages or other remuneration, the employer must contribute a matching amount to the fund in respect of that employee if
(a) the employee
(i) is making the contributions as a person who is deemed by subsection (3) to be a member of the civil service, and
(ii) is not a person referred to in clause (3)(b); or
(b) the employer is designated under subsection (4.1) as a matching employer in respect of that employee or the class of employees to which that employee belongs.
An employer who makes matching contributions in respect of an employee in accordance with subsection (5) is not required to make contributions under subsection 22(2) or 23(2) in respect of that employee for the period during which the matching contributions were made.
The following provisions are amended by striking out "subsection 6(5)" and substituting "subsection 6(5.1)":
(a) subsection 22(2);
Subsection 29(1) is amended
(a) by adding the following after the part after clause (c):
(c.1) payable until the death of the retired employee, and thereafter a continuing annuity equal to the retired employee's annuity is payable to his or her surviving spouse or common-law partner until the death of the spouse or common-law partner; or
(b) by repealing clauses (f) and (g);
(c) by adding the following after clause (g);
(g.1) guaranteed payable until the death of the retired employee or for 180 months as provided in subsection (7), whichever period is the longer; or
Subsection 29(7) is amended
(a) in the part before clause (a), by striking out everything after "is payable" and substituting "for a guaranteed minimum period under clause (1)(g.1), (h) or (i) dies before the end of the period, the board shall continue to pay the annuity"; and
The following is added after subsection 33(10):
The sum of $145,000,000. shall be transferred from the indexing reserve established in the fund as of December 31, 2007, to the superannuation adjustment account as soon as practicable after this subsection comes into force, and shall be used for future indexing over a 30-year period in a manner to be determined by the board on the recommendation of its actuary.
Subsection 60(1) is amended
(a) by replacing clause (a) with the following:
(a) when he or she reaches the normal retirement age; or
(b) by replacing subclause (b)(ii) with the following:
The following is added at the end of Part 1:
ENHANCED BENEFITS FOR ELIGIBLE MANITOBA HYDRO EMPLOYEES
The following definitions apply in this section and sections 67.2 to 67.5.
"advisory group" means an advisory group established by agreement between Manitoba Hydro and the collective bargaining agents for its employees and consisting of a number of employer representatives and an equal number of persons representing those who are or will be eligible for enhanced benefits. (« groupe consultatif »)
"core benefits" means the pension benefits provided under this Part, other than the enhanced benefits. (« prestations de base »)
"enhanced benefits" means enhanced pension benefits provided or to be provided for by regulation under section 67.2. (« prestations améliorées »)
"Manitoba Hydro" includes any subsidiary of Manitoba Hydro that is participating as an employer in relation to the core benefits. (« Hydro-Manitoba »)
The Lieutenant Governor in Council may make regulations to provide enhanced pension benefits to persons entitled to core benefits in respect of a period of employment with Manitoba Hydro, including regulations
(a) establishing criteria for eligibility for the enhanced benefits;
(b) prescribing the enhanced benefits and how they are to be calculated;
(c) respecting the funding for the enhanced benefits;
(d) respecting the administration of the enhanced benefits.
The Lieutenant Governor in Council may make a regulation under this section only if
(a) the advisory group has recommended it; and
(b) in the case of a recommendation affecting benefits or the funding of benefits, an actuarial report confirms that the recommendation is viable.
A regulation under this section may be retroactive to the extent necessary to give effect to a recommendation of the advisory group.
If a regulation under this section conflicts with a requirement or restriction of the Income Tax Act (Canada) or a regulation under that Act that applies to registered pension plans, that requirement or restriction prevails to the extent of the inconsistency.
If the advisory group makes a recommendation and the Lieutenant Governor in Council does not make a regulation to implement it, the minister must give the advisory group written reasons for the decision not to implement it.
Despite any other provision of this Act, the government is not required to contribute any amount in respect of the enhanced benefits.
Clause 26(1)(a) of The Pension Benefits Act does not apply in respect of the enhanced benefits.
The board must maintain, within the fund, a separate account for contributions made to pay, or to fund the payment of, the enhanced benefits.
Subject to the regulations made under section 67.2, the account is to be credited with investment income at the market value rate of return that is earned by the fund, which is to be calculated in accordance with such method as the board determines.
The amounts credited to the account may be used only for the following purposes:
(a) paying the amounts to be paid as or in respect of the enhanced benefits;
(b) paying any administration costs or fees payable under the regulations made under section 67.2 or under an agreement between the advisory group and the board respecting the administration of the enhanced benefits;
(c) any other purpose recommended by the advisory group and approved by the Lieutenant Governor in Council.
This Act, except subsection 2(1) and section 4, comes into force on the day it receives royal assent.
Subsection 2(1) is deemed to have come into force on March 22, 2003.
Section 4 is deemed to have come into force on December 15, 2000.