February 21, 2012

Independent Review of Contribution Rate Allocation

The Board received the final report laying out several principles which could be used as a foundation for allocating contribution rates.  The Board will continue to discuss and analyze the practical implication of the identified principles.

Financial Results

The 2011 SC audited financial statements recommended by the Audit Committee were approved for inclusion in the 2011 Annual Report.

The 2011 Annual Actuarial Valuations of the Primary Plan and the RCA were received from the OAC; it was noted that this formally launches the 2012 cycle for consideration of Specified Plan Changes.

By-Law Review

The SC approved a number of housekeeping amendments to By-Laws # 3, 6, 9, 10 and 13-01 as part of its annual by-law review. Proposed amendments to By-Law #2 were delayed to allow further analysis. 
By-Laws #4, 12 and 13 are scheduled for a comprehensive review later in the year.

Technical Plan Change

The Board approved By-Law #26 which clarifies and provides consistent rules regarding entitlement to a spousal benefit on the death of a plan member.