Order in Council 2238/2017

On the recommendation of the undersigned, the Lieutenant Governor of Ontario, by and with the advice and concurrence of the Executive Council of Ontario, orders that:

Whereas the Ontario Educational Communications Authority established under the Ontario Educational Communications Authority Act is also known as, and shall be hereinafter referred to as TVO;

And Whereas TVO has requested to be designated as a participating employer in the Public Service Pension Plan (PSPP) set out in Schedule 1, as amended, under the Public Service Pension Act and in the Public Service Supplementary Benefits Account that has been continued under Order in Council 3044/98 as amended by Order in Council 1905/2009 and as may be further amended from time to time (PSSBA);

And Whereas, pursuant to a separate Order in Council, the Lieutenant Governor in Council is designating the employees of TVO, which is a public body and an agent of the Crown, as classes of employees who are either required or eligible to join the PSPP effective January 1, 2018;

And Whereas certain classes of TVO employees currently participate in The Ontario Educational Communications Authority Retirement Plan, amended and restated as at July 1, 2012, registration number 0367532, (“Staff Plan”);

And Whereas TVO employees who have been designated by the TVO Board as Executives currently participate in The Ontario Educational Communications Authority Executive Pension Plan, amended and restated as at July 1, 2012, registration number, 0403048 (“Executive Plan”);

And Whereas certain members of the Staff Plan and Executive Plan also participate in The Ontario Educational Communications Authority Supplemental Executive Retirement Plan, amended and restated as at July 1, 2012 (“Supplemental Plan”);

And Whereas the Supplemental Plan provides benefits to certain members of the Executive Plan and Staff Plan in excess of the benefits payable to such employees under the Executive Plan and Staff Plan, which benefits are restricted by the maximum benefits permitted under the Income Tax Act (Canada);

And Whereas the PSSBA exists for PSPP members to provide pension benefits in excess of those permitted for registered pension plans under the federal Income Tax Act (Canada);

And Whereas, pursuant to a separate Order in Council, the PSPP is being amended to authorize the Ontario Pension Board to enter into one or more written agreements with TVO in accordance with Section 81 of the Pension Benefits Act to provide for the transfer to the Plan of the assets and liabilities relating to the provision of defined benefits in the Staff Plan and Executive Plan in respect of pension credit accrued by TVO employees prior to January 1, 2018 in relation to the employees and former employees of TVO who are members, former members and retired members as well as any other beneficiaries of the TVO pension plans;

And Whereas the Lieutenant Governor in Council considers it reasonable and appropriate for TVO employees who are members in the Supplemental Plan to be able to receive benefits under the PSSBA that includes the value of the pension credit they accrued under the Supplemental Plan prior to January 1, 2018;

And Whereas there are no former members or retired members of the TVO pension plans who are entitled to pension benefits or payments under the Supplemental Plan;

Now therefore pursuant to the prerogative of Her Majesty the Queen in Right of Ontario to provide for the supplementary benefits of public servants where not otherwise provided by statute, Order in Council 3044/98 as amended by Order in Council 1905/2009 is further amended as follows:

1. Section 1 is amended by adding a new definition of “TVO Supplemental Member” immediately following the definition of “Supplementary Plan”.

   “TVO Supplemental Member” means a member who is or was an employee of the Ontario Educational Communications Authority established under the Ontario Educational Communications Authority Act (TVO) and who, as of December 31, 2017, was a Member of The Ontario Educational Communications Authority Supplemental Executive Retirement Plan, amended and restated as at July 1, 2012 (“Supplemental Plan”) and who joined the Public Service Pension Plan effective January 1, 2018.

2. The Order is also amended by deleting the word “or” after clause 3 (a), replacing the period at the end of clause 3 (b) with a comma and adding the word “or” after the comma, and by then adding a new clause 3 (c) as follows:
   1. that is transferred into the Plan for that period under Section 36.3 of the Plan unless the credit relates to a TVO Supplemental Member’s service prior to January 1, 2018 and has been determined by an actuary who is employed or retained by the Crown to be included in the calculation of the supplementary benefit under Section 2 in order to reflect the value of credit that accrued in the Supplemental Plan in respect of the TVO Supplemental Member prior to January 1, 2018.
3. The Order is further amended by adding a new Section 10.1 immediately following Section 10.
   11. 1. Despite sections 4 and 9 of this Order, if assets are transferred into the Plan pursuant to Section 36.3 of the Plan, the following rules apply for a TVO Supplemental Member:
          1. TVO shall transfer into the Account an amount that is determined by an actuary who is employed or retained by the Crown to be equal to the value of the pension benefits that will become payable collectively to all of the TVO Supplemental Members in accordance with Section 2 of this Order in respect of service prior to January 1, 2018; and
          2. Upon the completion of the transfer described in paragraph (a), each TVO Supplemental Member shall be deemed to have met the requirements for member contributions under sections 4 and 9 of this Order for the amount of credit that is determined by an actuary who is employed or retained by the Crown pursuant to clause 3 (c) to be included in the calculation of the supplementary benefit under Section 2 in respect of service before January 1, 2018.