- on the no-debate list
LONG TERM DISABILITY PLAN RESOLUTION
APPROVED BY THE COUNCIL OF GENERAL SYNOD DURING THE QUADRENNIUM (2019 – 2023)
Resolution – LTD Pre – 2005
November 2020
Moved by: Canon David P. Jones
Seconded by: Dr. Michael Siebert
Be it resolved:
That the Council of General Synod approves the recommendations of the Pension Committee to wind up LTD – Pre-2005 effective August 14, 2020 and return any money remaining, to the remaining claimants under the Pre-2005 plan and approve the changes attached to this report as in Appendix 2.
Rationale: Our legal counsel Koskie Minsky gave the advice to wind up the LTD – Pre-2005 and return any money remaining, to the remaining claimants under the Pre-2005 plan.
ADOPTED #CoGS 013-11-20
Resolution – LTD Pre – 2005 – Appendix 2
November 2020
Appendix 2
AMENDMENT
This Amendment is made as of the 14th day of August, 2020.
WHEREAS this Long Term Disability Plan Pre-2005 (the “Plan”) was effective as of January 1, 1994 and amended from time to time;
AND WHEREAS the Long Term Disability Fund of the Anglican Church of Canada (the “LTD Fund”) was established by Canon VIII for the purpose of funding the Plan;
AND WHEREAS section H.3. of the Plan provides that the Pension Committee of The Anglican Church of Canada (the “Pension Committee”) has the right to amend or terminate the Plan, either in whole or in part, at any time;
NOW THEREFORE, the Pension Committee agrees to amend this Plan as follows:
1. Article H.3 is amended effective August 14th 2020 by deleting section H.3.3 and adding the following new sections H.3.3 and H.3.4:
H.3.3 If the Plan terminates, the assets of the Plan shall be used to provide for all Benefits payable under the Plan, to pay all taxes payable by the LTD Fund in accordance with Section G.4, and to pay all expenses and fees incurred in the operation of the Plan and the Fund in accordance with Section 4;
H.3.4. If the Plan terminates and all Benefits, taxes, fees, and expenses have been paid in accordance with section H.3.3, then the remaining assets of the Plan shall be distributed to Employees
THIS RESOLUTION is made effective as of the 14th day of August, 2020
WHEREAS the Long Term Disability Plan Pre-2005 (the “Plan”) was established by Canon VIII and the Long Term Disability Regulations thereto and effective January 1, 1994;
AND WHEREAS the Plan rules were adopted effective January 1, 1994, by the Pension Committee of The Anglican Church of Canada (the “Pension Committee”) and have been amended from time to time (the “Plan Rules”);
AND WHEREAS Section H.3 of the Plan Rules provides that the Pension Committee may terminate the Plan;
AND WHEREAS Section H.3.3 provides that if the Plan terminates, the assets of the Plan shall be used to provide for all Benefits payable under the Plan and, to pay all taxes payable by the LTD Fund in accordance with Section G.4, and to pay all expenses and fees incurred in the operation of the Plan and the Fund in accordance with Section G.4;
AND WHEREAS Section H.3.4 provides that if the Plan terminates and all Benefits, taxes, fees, and expenses have been paid in accordance with section H.3.3, then the remaining assets of the Plan shall be distributed to Employees;
AND WHEREAS there are no outstanding Benefits payable under the Plan and the Plan has no outstanding liabilities;
NOW THEREFORE, it is hereby resolved that:
- Plan is to be wound up effective August 14th 2020, or as soon thereafter as is
- The Pension Committee shall distribute the remaining assets of the Plan to Employees in accordance with the Plan
