September 23, 2011

Specified Plan Change (SPC) By-Laws

By-laws to allow for the implementation of the specified plan changes approved over the preceding months were approved.  These by-laws contain the exact language for changing Primary and/or Supplemental plan text, and are a requirement for filing plan changes with the regulators.  (Read complete details on:  By-Law #23 – Contribution Rates for 2012; By-Law #24 – RCA Threshold; By-Law #24-01 – Future RCA Threshold Change, and By-Law #25 – Supplemental Plan Contribution Rates.)

Independent Actuarial Review

The responses to the request for proposal were reviewed and Eckler Consultats retained to conduct the independent actuarial review of principles regarding contribution rate allocation.  Details of the process were confirmed.

Governance

At the recommendation of the CGC (Corporate Governance Committee), a number of by-laws and policies were amended to reflect refinements to issues of Confidentiality (process for deeming Confidentiality) and Communications (21-day SC website posting requirement between decision –making and communications of proposed specified plan changes).

Under the auspices of the HRCC (Human Resources & Compensation Committee), some amendments to By-Law #6 regarding the Member Education policy and clarification of definitions and ‘housekeeping’ changes were approved, as well as a staff succession plan.

The SC confirmed the OAC Board re-appointment for a CUPE nominee (David Carrington) commencing January 1, 2012, and the immediate appointment of the AMO representative to the OAC Board, Fred Biro, replacing Michael Power.