22 Civil
enforcement
23 Regulations
24 Supplemental
plans
25 Collection
and disclosure of employment information
26 Transitional — September 1, 2007 to August 31, 2009
additional contributions
HER MAJESTY, by and with
the advice and consent of the Legislative Assembly of Alberta, enacts as
follows:
Interpretation
1(1) In this Act,
(a) “Association”
means The Alberta Teachers’ Association;
(b) “Board”
means the board continued by section 5(1) as the board of trustees for the
Plans;
(c) “Crown”
means the Crown in right of Alberta;
(d) “employer‑contributors”
means,
(i) in the case of the Principal Plan, the Crown and any other bodies
prescribed, and
(ii) in the case of the Private School Plan, the employers under that
Plan;
(e) “former
Act” means the Teachers’ Retirement Fund
Act, RSA 1980 cT‑2, and includes the bylaws under that Act;
(f) “funding
requirements” means the minimum funding requirements of the Employment Pension Plans Act and the
regulations under it with respect to service after August 31, 1992, that are
prescribed;
(g) “Minister”
means the Minister determined under section 16 of the Government Organization Act as the Minister responsible for this
Act;
(h) “Pension
Fund” means the Teachers’ Pension Plan Fund referred to in section 3(c) or the
Private School Teachers’ Pension Plan Fund referred to in section 3(d), as the
case may be, and “Pension Funds” means both of them;
(i) “Plan”
means the Principal Plan or the Private School Plan, as the case may be, and
“Plans” means both of them;
(j) “plan
costs”, in relation to a Plan, means the separate sum referred to in section
21(1);
(k) “plan
rules” means the plan provisions made pursuant to sections 14, 16(2), (6) and
(7) and 19(4) and pursuant to regulations made under section 23(1)(m),
including amendments, repeals or repeals and replacements of existing plan
rules;
(l) “prescribed”
means prescribed or otherwise provided for by the regulations;
(m) “Principal
Plan” means the Teachers’ Pension Plan referred to in section 3(a) and
contained partly in the applicable provisions of this Act and partly in that
Plan’s plan rules, and includes the Teachers’ Pension Plan Fund;
(n) “Private
School Plan” means the Private School Teachers’ Pension Plan referred to in
section 3(b) and contained partly in the applicable provisions of this Act and
partly in that Plan’s plan rules, and includes the Private School Teachers’
Pension Plan Fund;
(o) “regulations”
does not include the plan rules;
(p) “solvency
deficiencies” means solvency deficiencies within the meaning of, and as
calculated according to the methods set out in, the regulations under the Employment Pension Plans Act;
(q) “tax
rules” means those provisions of the Income
Tax Act (Canada) and of the regulations under it that apply to pension
plans registered or to be registered under that Act and includes any approval,
certification or other permission or any direction or order from the federal
Minister of National Revenue, the absence of which or failure to comply with
which may make the Plan’s registration liable to revocation under that Act;
(r) “total
plan costs” means the aggregate for the Plans of those separate sums, each of
which is equal to the costs and expenses that the Board decides were incurred
in its provision of services to, and to acquire equipment and supplies for the
benefit of, a Plan.
(2) Where a Plan’s plan rules define generally an
expression used in this Act and not defined in subsection (1), that definition
applies with respect to the interpretation of that expression as it relates to
that Plan unless those plan rules otherwise provide.
1995 cT‑1.5 s1
Application
2(1) This Act binds the Crown.
(2) This Act operates notwithstanding anything to
the contrary in the Loan and Trust
Corporations Act except section 182 of that Act.
1995 cT‑1.5 s2
Continuation of pension
plan and fund
3 The pension plan and the pension fund
continued by and under the former Act and collectively known as the “Teachers’
Retirement Fund” are continued as
(a) the
Teachers’ Pension Plan,
(b) the
Private School Teachers’ Pension Plan,
(c) the
Teachers’ Pension Plan Fund, being the pension fund for the Teachers’ Pension
Plan, and
(d) the
Private School Teachers’ Pension Plan Fund, being the pension fund for the
Private School Teachers’ Pension Plan,
under and subject to this Act, the regulations and the plan
rules.
1995 cT‑1.5 s3
Income Tax Act
registration
4 It is the intent of this Act
that the Plans be and remain registered defined benefit pension plans under the
tax rules.
1995 cT‑1.5 s4
Continuation, name and
composition of Board
5(1) The Board of Administrators continued by the
former Act is continued as a board of trustees for the Plans under the official
name “Teachers’ Pension Plans Board of Trustees”.
(2) The
Board may also call itself and be known under the unofficial name “Alberta
Teachers’ Retirement Fund Board”.
(3) The
Board is to consist of the following persons appointed by the Lieutenant
Governor in Council:
(a) the
prescribed number of persons nominated in writing by the Minister, and
(b) the
same number of persons nominated by the Association in written form submitted
through the Minister.
(4) Notwithstanding
subsection (3)(b), if the Association fails to submit a nomination within 90
days after the event necessitating the nomination and appointment, that
nomination is to be made in writing by the Minister.
(5) On
receiving any valid nomination made by the Association, the Minister shall
forward it forthwith to the Lieutenant Governor in Council.
(6) Regulations for the purposes of subsection (3)
that alter the size of the Board’s membership may be made only at the written
request of the Board following consultation by the Board with the Minister and
the Association about the proposed regulations.
1995 cT‑1.5 s5
Board as trustee,
administrator and custodian
6 The Board is the trustee and
administrator of the Plans and the custodian of the Pension Funds.
1995 cT‑1.5 s6
Corporate status
7 The Board remains a
corporation.
1995 cT‑1.5 s7
Corporate incidents
8(1) Subject to this Act, the regulations, the plan
rules and the tax rules, the Board
(a) has
the capacity, rights, powers and privileges of a natural person, and
(b) has
the capacity to carry on its business, conduct its affairs and exercise its
powers in any jurisdiction outside Alberta to the extent that the laws of that
jurisdiction permit.
(2) Subject
to section 4 and the application of the tax rules, an act of the Board is not
invalid by reason only that the act is contrary to this Act, the regulations or
the plan rules or any resolution made by the Board.
(3) A
person is not affected by or deemed to have notice or knowledge of the contents
of a document concerning the Board by reason only that the document is
available for inspection at an office of the Board.
(4) The
Board or a person claiming through the Board may not assert against a person
dealing with the Board or dealing with any person who has acquired rights from
the Board that
(a) any
resolution of the Board has not been complied with,
(b) a
person held out by the Board as a member, officer or agent of the Board
(i) has not been duly appointed, or
(ii) has no authority to exercise a power or perform a duty that a
member, officer or agent might reasonably be expected to exercise or perform,
or
(c) a
document issued by a member, officer or agent of the Board with actual or usual
authority to issue the document is not valid or not genuine,
except where that person has, or by virtue of the person’s
position with or relationship to the Board ought to have, knowledge of those
facts at the relevant time.
1995 cT‑1.5 s8
Review of Board
decisions
9(1) If the Board wishes to establish a process for
the review of certain decisions made by it or on its behalf in its capacity as
the administrator of the Plans, the Board must establish, decide the
composition of and appoint a committee to hear such reviews pursuant to this
section.
(2) The
Board may by resolution grant to the review committee the power to review those
decisions referred to in subsection (1) that are specified in the resolution.
(3) The
review committee may be divided into panels for the purpose of hearing reviews.
(4) If
a review committee is established, the Board shall establish rules of procedure
for the hearing of reviews under this section.
(5) The review committee or a panel, and each
member of it while acting in the capacity as a member of it, is under the duty
to apply procedural fairness in arriving at a decision.
1995 cT‑1.5 s9
Committees and
delegations
10(1) In addition to the review committee referred to
in section 9, the Board may establish and appoint other committees of the
Board.
(2) Subject
to subsection (4), the Board may delegate and allow the further subdelegation
of any of its powers, duties or functions under this Act, the regulations, the
plan rules or the tax rules.
(3) A
delegation under subsection (2) does not relieve the Board from any duty that
it has under this Act, the regulations, the plan rules or the tax rules or from
its overall responsibility for the management of its business and affairs or
from its ultimate responsibility for the administration of the Plans.
(4) Subsection
(2) does not apply to
(a) the
Board’s power or duty to make plan rules,
(b) the
Board’s power to make a request or recommendation under any provision of this
Act or the regulations,
(c) the
Board’s powers and duties under sections 9 and 13, or
(d) any other power, duty or function that is
prescribed.
1995 cT‑1.5 s10
Duty of care of Board
members and officers
11(1) Without limiting the application of any other
applicable law, a member or officer of the Board, in exercising powers and
performing duties as such a member or officer, shall
(a) act
honestly, in good faith and with a view to the best interests of the Board as a
corporation and of the Plans as a whole,
(b) exercise
the care, diligence and skill that a reasonably prudent person would exercise
in comparable circumstances, and
(c) comply
with resolutions of the Board.
(2) In
considering whether a particular course of action is in the best interests of
the Board and the Plans for the purposes of subsection (1)(a), a member or
officer of the Board shall have due regard to the interests of all categories
of members of the Plan affected and deal fairly with the interests of each Plan
relative to the other Plan.
(3) Subsections (1) and (2) do not apply to the
extent that any person is acting as a member of the review committee or as a
member of a panel of that committee under section 9.
1995 cT‑1.5 s11
Restrictions on business
activities
12(1) The Board shall not directly or indirectly
carry on any business activity except for a business activity that is inherent
in or incidental to its functions referred to in section 6 or for any other
prescribed activity.
(2) Nothing in subsection (1) precludes the Board
from investing the assets of the Pension Funds, managing and administering
those assets and doing anything necessary to protect the value of property
acquired by the Board by way of administering or realizing a security held by
it.
1995 cT‑1.5 s12
Conflict of interest
rules
13 The Board shall by resolution
establish rules respecting conflicts of interest for its members and officers
by which those persons will be bound and establishing the consequences of contravening
those rules.
1995 cT‑1.5 s13
Plan rules
14(1) The Lieutenant Governor in Council shall by
regulation establish those plan provisions that are to be included in each Plan
from the time of its continuation by this Act and that are not fully provided
for in this Act.
(2) Except
where otherwise provided in this Act or the regulations, the plan rules may be
amended only by the Lieutenant Governor in Council.
(3) Unless
the Association has requested in writing the making of a proposed amendment,
the Lieutenant Governor in Council may exercise the Lieutenant Governor in
Council’s power to amend the existing plan rules only if
(a) the
Minister gave notice in writing to the Board and the Association about the
subject‑matter of the proposed amendment,
(b) that
subject‑matter has been the subject of negotiations between the Minister
and the Association, and
(c) the
negotiations have been completed, whether successfully or not, or a period of 3
months has elapsed since the notice was given.
(4) The
Board,
(a) where
permitted to make plan rules by or under a specific provision of this Act or
the regulations, may by regulation carry into effect those plan rules, and
(b) where
required to make plan rules by or under a specific provision of this Act or the
regulations, shall by regulation carry into effect those plan rules.
(5) The
Board may make plan provisions with respect to
(a) reciprocal
transfer agreements, and
(b) the
review committee under section 9.
(6) Notwithstanding
anything in this Act, the Lieutenant Governor in Council has no authority to
make plan rules on a matter respecting which the plan‑rule‑making
authority is given by this Act to the Board.
(7) The
plan rules are subject to the regulations as well as to this Act.
(8) To
avoid any possible doubt, plan rules are regulations under the Regulations Act.
(9) To
the extent, if any, that is prescribed, a provision of the plan rules may be
made to apply with effect from a date that is prior to that on which they are
filed under the Regulations Act.
(10) Plan
rules made after subsection (1) has been implemented that purport to carry into
effect benefit adjustments resulting in an increase in the actuarial cost of
the Plan are not effective unless their subject‑matter has been agreed
between the Minister and the Association.
(11) The Crown is liable to pay those contributions
and any interest on overdue contributions for which it is liable under the plan
rules, and the Minister shall pay those contributions and that interest at the
times and in the manner provided by and otherwise in accordance with the plan
rules.
RSA 2000 cT‑1
s14;2006 c23 s76
Application of
Employment Pension Plans Act
15 The Lieutenant Governor in
Council may make regulations for the purposes described in section 6 of the Employment Pension Plans Act.
1995 cT‑1.5 s15
Actuarial valuation
report and funding
16(1) The Board shall have a separate actuarial
valuation of each Plan performed and a report on that valuation or on both
valuations prepared by the Plan’s actuary at least once every 3 years.
(2) The
Board shall, if necessary, within a reasonable time after receiving each report
or the report, make plan provisions for each Plan, substantially based on the
Plan’s actuary’s report, adjusting the employer‑contributors’ and the
contributing active members’ contribution rates for current service to comply
with subsections (3) to (5).
(3) The
current service cost of a Plan is to be met by contributions paid for current
service
(a) by
its contributing active members, and
(b) by
the employer‑contributors,
in accordance with the
plan rules and the funding requirements.
(4) The
current service cost of the Principal Plan is to be determined using the
prescribed method.
(5) The
Board shall set the employer‑contributors’ and the contributing active
members’ contribution rates for current service under each Plan so that
(a) together
they are sufficient to cover the current service cost in respect of the current
service under the Plan,
(b) the
aggregate contributions for the current service payable by contributing active
members of the Plan are equal to those payable by the employer‑contributors
of the Plan, and
(c) no
account is taken in the employer‑contributors’ contribution rates of the
portions of the current service cost that represent the costs of any benefit or
any portion of a benefit the costs of which are required by the Plan’s plan
rules to be borne exclusively by its contributing active members.
(6) The
Board shall make plan provisions setting the employer‑contributors’ and
the contributing active members’ contribution rates for unfunded liabilities
attributable to pensionable service after August 31, 1992 under each Plan so
that
(a) together
they are sufficient to meet or exceed the Plan’s funding requirements,
(b) the
aggregate contributions for those unfunded liabilities payable by contributing
active members of the Plan are equal to those payable by the employer‑contributors
of the Plan, and
(c) no
account is taken in the employer‑contributors’ contribution rates of the
portions of those unfunded liabilities that represent the costs of any benefit
or any portion of a benefit the costs of which are required by the Plan’s plan
rules to be borne exclusively by its contributing active members.
(7) With
respect to the Private School Plan, the Board shall make plan provisions
setting the employer‑contributors’ and the contributing active members’
contribution rates for solvency deficiencies so that
(a) together
they are sufficient to meet or exceed that Plan’s funding requirements,
(b) the
aggregate contributions for those solvency deficiencies payable by contributing
active members of that Plan are equal to those payable by the employer‑contributors
of that Plan, and
(c) no account is taken in the employer‑contributors’
contribution rates of the portions of those solvency deficiencies that
represent the costs of any benefit or any portion of a benefit the costs of
which are required by that Plan’s plan rules to be borne exclusively by its
contributing active members.
1995 cT‑1.5 s16
Pension Funds
17(1) The Board shall hold and administer the Pension
Funds in accordance with this Act.
(2) All
the assets of each Plan are to be held in, and all its liabilities are to be
assumed by, its Pension Fund.
(3) The
Board shall
(a) invest
or lend the assets of a Pension Fund in a manner that is not excluded by the Employment Pension Plans Act or the
regulations under it, and
(b) manage
those assets
for the sole benefit
of the persons entitled to benefits under the respective Plan.
(4) All
contributions to a Plan, with interest, if any, payable on them, must be made
and remitted to the Board, which shall deposit that money into that Plan’s
Pension Fund directly on receiving it.
(5) All
income of and all appreciation and depreciation in the value of the assets of a
Pension Fund accrue to that Pension Fund.
(6) The
Board shall pay the benefits payable under a Plan and its plan costs out of
that Plan’s Pension Fund.
(7) The
assets of one Plan are not to be used to discharge any liabilities of the other
Plan.
(8) Subject to section 20, nothing in this section
prevents the pooling of the assets of the Pension Funds for investment and
administrative purposes.
1995 cT‑1.5 s17
Trust relationship to
Pension Funds
18(1) The Board shall hold all the assets of a
Pension Fund in trust for the sole purposes of providing benefits under the
respective Plan and meeting its plan costs.
(2) The assets of a Pension Fund belong
beneficially to the persons entitled to benefits under the respective Plan, and
the Crown has no claim to those assets.
1995 cT‑1.5 s18
Unfunded liabilities for
pre-September 1992
service in Principal Plan
19(1) This section applies only with respect to the
Principal Plan.
(2) In
this section,
(a) “post‑1992
assets” means any portion of the Principal Plan’s Pension Fund that is shown by
the records kept under section 20(b) as attributable to pensionable service
after August 1992;
(b) “pre‑1992
assets” means any portion of that Plan’s Pension Fund that is shown by those
records as attributable to pensionable service before September 1992;
(c) “pre‑1992
benefits” means the benefits referred to in clause (d)(i);
(d) “unfunded
liability” means the amount, if any, determined by the Principal Plan’s actuary
in an actuarial valuation of the Principal Plan to be the excess of
(i) the actuarial present value of benefits attributable to all
pensionable service recognized under the Principal Plan as at the end of August
1992, including, however, that value of cost‑of‑living adjustments
in benefits after 1992 on all pensionable service recognized under that Plan as
at the end of 1992 at the basic rate of increases stipulated in the plan rules
for that Plan,
over
(ii) the value of that Plan’s assets attributable to all pensionable
service recognized under that Plan as at the end of August 1992.
(3) The
Principal Plan’s unfunded liability is to be fully met by the imposition of
additional contributions under this section.
(4) The
Board shall have
(a) the
Principal Plan’s unfunded liability, and
(b) the
aggregate annual amount of the additional contributions to that Plan required
in the years before the next actuarial valuation in order to ensure the
elimination of that Plan’s unfunded liability on or before August 31, 2060
re‑determined by
that Plan’s actuary at each actuarial valuation under that Plan, and the Board
shall make plan provisions for that Plan establishing the amount referred to in
clause (b) and specifying the contribution rates payable under subsection
(5)(a) and (b).
(5) The
additional contributions to be paid into the Principal Plan are as follows:
(a) by
the contributing active members of that Plan, additional contributions based,
as between individual contributing active members, proportionately on each contributing
active member’s pensionable salary, in the aggregate annual amount of 32.65% of
the total required, and
(b) by
the employer‑contributors of that Plan, additional contributions in the
aggregate annual amount of 67.35% of the total required.
(6) In
subsection (5), “total required” means the aggregate annual amount of the
additional contributions required, as established by the Principal Plan’s plan
rules under subsection (4).
(7) The
Board shall first use the pre‑1992 assets to fund all pre‑1992
benefits.
(8) When
the pre‑1992 assets have been exhausted, the Board shall use post‑1992
assets to fund pre‑1992 benefits, except that if a decision is made to
wind up the Principal Plan, then, notwithstanding anything in that Plan, the
Board may no longer do so.
(9) In
the event that the Principal Plan ceases to be able to pay all the pre‑1992
benefits, the Crown guarantees
(a) the
payment, in the manner prescribed, of the pre‑1992 benefits, and
(b) payment
into the Plan’s Pension Fund, in the manner prescribed, of an amount,
calculated on the basis prescribed, that represents the current value of the
post‑1992 assets that were used pursuant to subsection (8) but
restricted, if the regulations so prescribe, to what remains necessary to fund
all benefits that are not pre‑1992 benefits.
(10) Subsection (9) ceases to have force on August
31, 2060 or at such earlier time, if any, that the unfunded liability is first
eliminated.
1995 cT‑1.5 s19
Records for different
Plan treatment
20 The Board shall maintain such records, in
accordance with any requirements that are prescribed, as are requisite to
enable
(a) all
transactions and information respecting a Plan or Pension Fund to be attributed
to whichever Plan or Pension Fund is appropriate,
(b) all
transactions and information relating to any service under a Plan to be
attributed either to service before September 1992, including the unfunded
liability referred to in section 19(2), or to service after August 1992, and
(c) the total plan costs to be allocated between
the Plans.
1995 cT‑1.5 s20
Plan costs
21(1) Each Plan’s plan costs consist of the separate
sum described in section 1(1)(r) that is applicable to the Plan.
(2) The Board shall charge each Pension Fund for
the plan costs of the respective Plan.
1995 cT‑1.5 s21
Civil enforcement
22 The Board may, by originating notice on 3
days’ notice supported by an affidavit, apply to the Court of Queen’s Bench
for, and that Court may make, an order
(a) compelling
a person to do anything that that person is required by this Act, the
regulations or the plan rules to do, or
(b) prohibiting
a person from
(i) doing anything that that person is prohibited by any such
enactment from doing, or
(ii) doing anything in relation to a Plan that
the person is prohibited by law from doing.
1995 cT‑1.5 s22
Regulations
23(1) Subject to any other provisions of this Act
imposing any further or other conditions, the Lieutenant Governor in Council
may, on a recommendation made by the Minister following consultation with the
Board, make regulations establishing provisions of a legislative nature that do
not form part of a Plan,
(a) respecting
the provision of reports by the Board to the Crown, the Association and members
respecting the operation of the Plan;
(b) respecting
the powers, duties and liabilities of the Board and its members and the quorum
of and voting on the Board and its committees;
(c) respecting
the liabilities of members of the Board and providing full or partial immunity
or relief from any liabilities to which the Board, members of the Board or of
any of its committees or any employees of the Board would otherwise be subject
under this or any other law;
(d) exempting
the Board or its members, or both, from any of the provisions of the Trustee Act;
(e) respecting
nominations to and the offices of chair and vice‑chair of the Board and
the terms of office of its members;
(f) requiring
the Board to consult with the Minister in respect of the prescribed matters;
(g) imposing
and otherwise providing for civil penalties on employers for failing to comply
with the regulations or the plan rules;
(h) exempting
interests in benefits from garnishee proceedings, attachment, seizure or legal
process;
(i) establishing
exceptions to the requirements of section 19(4), (5) and (6) so as to enable
temporary reductions in the amounts of additional contributions;
(j) respecting
any supplemental plan established under section 24;
(k) providing
for the winding‑up of a Plan, the basis on which the winding‑up is
to be carried out and the disposition of the assets and liabilities in that
Plan’s Pension Fund;
(l) respecting
the manner in which actuarial gains and surpluses attributable to specified
periods of pensionable service are to be applied;
(m) respecting
the making, amendment, repeal or replacement of the plan rules by regulation;
(n) enabling
the Minister to require an audit of a Plan, and respecting any such audit;
(o) respecting
designations of beneficiaries and the effects of such designations;
(p) respecting
the effect of matrimonial property orders;
(q) prescribing
any matter or thing that by this Act may be or is to be prescribed.
(2) The
Lieutenant Governor in Council may, on the written recommendation of the Board,
make regulations establishing provisions of a legislative nature that do not
form part of a Plan,
(a) respecting
remuneration, if any, payable to members of the Board;
(b) respecting
removals and suspensions from the Board;
(c) imposing
obligations on employers to facilitate the administration of the Plan;
(d) respecting
the auditing of the records of employers relating to the Plan, the ordering by
the Board of such an audit at employers’ expense and the disposition of the
audit reports.
(3) Regulations
may be made to apply
(a) to
both or to only one of the Plans, and
(b) to particular categories of persons or of
classes of persons, as well as having general application.
1995 cT‑1.5 s23
Supplemental plans
24 The Lieutenant Governor in Council may by
regulation
(a) establish
supplemental pension plans under the Principal Plan with respect to specific
categories of members of that Plan,
(b) extend
the application of any provisions of this Act or the regulations to a
supplemental plan or adapt any such provisions so as to apply appropriately to
it, and
(c) establish other provisions that are to apply
to the supplemental plan.
1995 cT‑1.5 s24
Collection and
disclosure of employment information
25(1) In this section,
(a) “Department”
means the Government department responsible for education;
(b) “employer”
and “employment” include a former employer and former employment respectively;
(c) “employment
information” means personal information within the meaning of the Freedom of Information and Protection of
Privacy Act that relates to members’ employment or pensions but, as regards
the collection by or the disclosure to an employer of that information, is
restricted to information about members employed by that particular employer.
(2) The
Board is authorized to collect employment information from, and to disclose it
to,
(a) employers,
(b) the
Department, and
(c) any
other prescribed body or person.
(3) Employers
are authorized to collect employment information from, and to disclose it to,
(a) the
specific members to whom the information relates,
(b) the
Board,
(c) the
Department, and
(d) any
other prescribed body.
(4) The
Department is authorized to collect employment information from, and to
disclose it to,
(a) employers,
and
(b) the
Board.
(5) Where
this section gives authority to a body to collect from, or to disclose to, a
prescribed body or person any employment information, that prescribed body or
person is authorized respectively to disclose to, or to collect from, that
first‑mentioned body that employment information.
(6) Information may be collected under this section
from a person or body other than the member to whom it relates in any manner
that is agreed between the persons or bodies collecting and providing it.
1995 cT‑1.5 s25
Transitional — September
1, 2007 to August 31, 2009
additional contributions
26(1) Notwithstanding
anything in this Act except this section, or anything in the regulations or the
plan rules, the Crown shall ensure that there is or has been paid, out of money
voted by the Legislature and in whatever manner the Crown considers
appropriate, all additional contributions that, but for this section, would be
payable by contributing active members under section 19(5)(a) on pensionable
salary paid to them in respect of the period from September 1, 2007 to August
31, 2009, including interest, if any, due on such contributions.
(2) Additional contributions referred to
in subsection (1) are to be treated as additional contributions paid by the
Crown, as one of the employer‑contributors, under section 19(5)(b).
(3) Subsection (1) does not apply to
additional contributions paid or payable where the employer‑contributor
is one that was listed in the Schedule to the Teachers’ Pension Plans
(Legislative Provisions) Regulation (AR 204/95) as at the beginning of
September 2007.
(4) Prepayments
made before the enactment of this section of money that became payable as the
result of that enactment are validated notwithstanding any lack of legal
authorization to make the payments at the time they were made.
RSA 2000 cT‑1
s26;2007 c41 s2;2008 c6 s2
