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O. Reg. 371/03: GENERAL
filed September 3, 2003 under Ontario Municipal Employees Retirement System Act, R.S.O. 1990, c. O.29
Skip to contentontario regulation 371/03
made under the
ontario municipal employees retirement system act
Made: July 24, 2003
Filed: September 3, 2003
Printed in The Ontario Gazette: September 20, 2003
Amending Reg. 890 of R.R.O. 1990
(General)
1. Subsection 10 (2.1) of Regulation 890 of the Revised Regulations of Ontario, 1990 is revoked and the following substituted:
(2.1) On and after January 1, 2004, the contributions payable by a member under subsection (1) in respect of his or her contributory earnings in any pay period are,
(a) for a member whose normal retirement age is 65 years, 6 per cent of the contributory earnings which are equal to or less than the result obtained by dividing the Year’s Maximum Pensionable Earnings by the number of pay periods in the year, plus 8.8 per cent of the balance of the contributory earnings; and
(b) for a member whose normal retirement age is 60 years, 7.3 per cent of the contributory earnings which are equal to or less than the result obtained by dividing the Year’s Maximum Pensionable Earnings by the number of pay periods in the year, plus 9.8 per cent of the balance of the contributory earnings.
2. This Regulation comes into force on January 1, 2004.