O. Reg. 484/01: GENERAL

 

ONTARIO regulation 484/01

made under the

ONtario Municipal Employees retirement system act

Made: December 12, 2001
Filed: December 14, 2001
Printed in The Ontario Gazette: December 29, 2001

Amending Reg. 890 of R.R.O. 1990

(General)

Note: Since the end of 2000, Regulation 890 has been amended by Ontario Regulation 460/01.  Previous amendments are listed in the Table of Regulations published in The Ontario Gazette dated January 20, 2001.

1. (1) Paragraph 3 of subsection 17 (5.1) of Regulation 890 of the Revised Regulations of Ontario, 1990 is amended by striking out “subsection (5.2)” and substituting “subsection (5.3.1)”.

(2) Subsection 17 (5.1) of the Regulation is amended by adding the following paragraphs:

4. The member retires on or after January 1, 2003 and before January 1, 2004 and the criteria described in subsection (5.3.2) or (5.4) are met at the date of early retirement.

5. The member retires on or after January 1, 2004 and before January 1, 2005 and the criteria described in subsection (5.2) or (5.4) are met at the date of early retirement.

(3) Subsection 17 (5.2) of the Regulation is amended by striking out “paragraphs 1 and 3” and substituting “paragraphs 1 and 5”.

(4) Section 17 of the Regulation is amended by adding the following subsections:

(5.3.1) For the purpose of paragraph 3 of subsection (5.1), the sum of the member’s age (counted in full years and months) plus credited service and eligible service (counted in full years and months) must not be less than,

(a) 82 years, in the case of a member whose normal retirement age is 65 years; or

(b) 77 years, in the case of a member whose normal retirement age is 60 years.

(5.3.2) For the purpose of paragraph 4 of subsection (5.1), the sum of the member’s age (counted in full years and months) plus credited service and eligible service (counted in full years and months) must not be less than,

(a) 84 years, in the case of a member whose normal retirement age is 65 years; or

(b) 79 years, in the case of a member whose normal retirement age is 60 years.

(5) Subsection 17 (5.4) of the Regulation is amended by striking out “paragraphs 1, 2 and 3” and substituting “paragraphs 1, 2, 3, 4 and 5”.

(6) Subsection 17 (5.5) of the Regulation is amended by striking out “paragraph 2” and substituting “paragraphs 2, 3 and 4”.

(7) Subsection 17 (7.1) of the Regulation is amended by striking out “subsection (5)” and substituting “subsections (5) and (5.1)”.

(8) Clause 17 (7.1) (c) of the Regulation is amended by striking out “subsection (7.1.1)” and substituting “subsection (7.1.3)”.

(9) Subsection 17 (7.1) of the Regulation is amended by striking out “and” at the end of clause (b) and by adding the following clauses:

(d) under subsection (7.1.4) for a member who retires on or after January 1, 2003 and before January 1, 2004; and

(e) under subsection (7.1.5) for a member who retires on or after January 1, 2004 and before January 1, 2005.

(10) Subsection 17 (7.1.1) of the Regulation is amended by striking out “clauses (7.1) (a) and (c)” and substituting “clause (7.1) (a)”.

(11) Section 17 of the Regulation is further amended by adding the following subsections:

(7.1.3) For the purpose of clause (7.1) (c), the amount of the member’s early retirement pension is calculated by reducing the annual amount of pension calculated under section 13 for the member at the rate of 2.5 per cent multiplied by the least of,

(a) the number of full years and months by which the member’s age is less than the member’s normal retirement age, on the date the early retirement pension is to begin;

(b) in the case of a member whose normal retirement age is 65 years, 82 minus the sum of the member’s credited service, eligible service and age (counted in full years and months) on the date the early retirement pension is to begin;

(c) in the case of a member whose normal retirement age is 60 years, 77 minus the sum of the member’s credited service, eligible service and age (counted in full years and months) on the date the early retirement pension is to begin; and

(d) the number of full years and months by which the sum of the member’s credited service and eligible service is less than 30 years on the date the early retirement pension is to begin.

(7.1.4) For the purpose of clause (7.1) (d), the amount of the member’s early retirement pension is calculated by reducing the annual amount of pension calculated under section 13 for the member at the rate of 2.5 per cent multiplied by the least of,

(a) the number of full years and months by which the member’s age is less than the member’s normal retirement age, on the date the early retirement pension is to begin;

(b) in the case of a member whose normal retirement age is 65 years, 84 minus the sum of the member’s credited service, eligible service and age (counted in full years and months) on the date the early retirement pension is to begin;

(c) in the case of a member whose normal retirement age is 60 years, 79 minus the sum of the member’s credited service, eligible service and age (counted in full years and months) on the date the early retirement pension is to begin; and

(d) the number of full years and months by which the sum of the member’s credited service and eligible service is less than 30 years on the date the early retirement pension is to begin.

(7.1.5) For the purpose of clause (7.1) (e), the amount of the member’s early retirement pension is calculated by reducing the annual amount of pension calculated under section 13 for the member at the rate of 5 per cent multiplied by the least of,

(a) the number of full years and months by which the member’s age is less than the member’s normal retirement age, on the date the early retirement pension is to begin;

(b) in the case of a member whose normal retirement age is 65 years, 85 minus the sum of the member’s credited service, eligible service and age (counted in full years and months) on the date the early retirement pension is to begin;

(c) in the case of a member whose normal retirement age is 60 years, 80 minus the sum of the member’s credited service, eligible service and age (counted in full years and months) on the date the early retirement pension is to begin; and

(d) the number of full years and months by which the sum of the member’s credited service and eligible service is less than 30 years on the date the early retirement pension is to begin.

(12) Paragraph 2 of subsection 17 (9) of the Regulation is amended by striking out “under paragraph 1 or 3 of subsection (5.1) or clause (7.1) (a) or (c)” and substituting “under paragraph 1 or 5 of subsection (5.1) or clause (7.1) (a) or (e)”.

(13) Paragraph 3 of subsection 17 (9) of the Regulation is amended by striking out “under paragraph 2 or subsection (5.1) or clause (7.1) (b)” and substituting “under paragraph 2, 3 or 4 of subsection (5.1) or clause (7.1) (b), (c) or (d)”.