On August 4, 2005, the Board of Trustees of the Labourers Pension Fund of Central and Eastern Canada (the “Applicant”) requested a hearing regarding the Notice of Proposal of the Deputy Superintendent, Pensions, dated July 7, 2005, proposing to order the administrator of the Plan, pursuant to section 88 of the Pension Benefits Act, to prepare and file a new actuarial valuation report as at December 31, 2003, in respect of the Plan, that complies with sections 6, 14, 16 and 17 of Regulation 909, (the “Regulation”) and, specifically, which includes either,

1. the results of such tests performed on both a going concern and solvency basis as will demonstrate the sufficiency of the contributions to provide for the benefits set out in the Plan without consideration of any provision for reduction of benefits set out in the Plan; or
   
2. where contributions are not sufficient to provide the benefits under the Plan as determined on both a going concern and solvency basis, a proposal by the actuary of options available to the administrator of the Plan that will have the result that the required contributions will be sufficient to provide the benefits under the Plan on both a going concern and solvency basis.

Top of Summary