IN THE MATTER OF the Pension Benefits Act, R.S.O. 1990, c. P.8, as amended (the “PBA”);
AND IN THE MATTER of a Proposal of the Superintendent of Financial Services to make an Order under section 83 and 89 of the PBA, respecting the Imperial Home Decor Group ULC Pension Plan for Salaried Employees, Registration Number 1050434;
895 Don Mills Road, Suite 700
One Morneau Sobeco Centre
Toronto ON M3C 1W3
Vice-President Human Resources
Imperial Home Decor Group Canada ULC
23645 Mercantile Road
Cleveland OH 44122
U. S. A.
2 Place Alexis Nihon
Montreal (Quebec) H3Z 3C2
Trustee in Bankruptcy
No request requiring a hearing was delivered to the Financial Services Tribunal within the time prescribed by subsection 89(6) of the PBA respecting a Notice of Proposal to make a Declaration that the Pension Benefits Guarantee Fund applies to the Imperial Home Decor Group ULC Pension Plan for Salaried Employees, Registration Number 1050434,(the “Plan”).
I DECLARE pursuant to sections 83 and 89 of the PBA that the Pension Benefits Guarantee Fund (Guarantee Fund) applies to the Plan for the following reasons:
- The Plan is registered under the PBA, and
- The Plan provides defined benefits that are not exempt from the application of the Guarantee Fund by the PBA or the Regulations made thereunder, and
- The Plan was wound up effective June 30, 2001, and
- There are reasonable and probable grounds that the funding requirements of the PBA and regulations cannot be satisfied. Based on the latest actuarial certification, there is an estimated claim against the Guarantee Fund of $150,200 as at November 1, 2007. If funds become available from the estate of the employer, the administrator will be required to make an appropriate refund of any allocation amount received by the Plan from the Guarantee Fund.
DATED at Toronto, Ontario, this 24th day of April, 2008.
Director, Pension Plans Branch
by Delegated Authority from
the Superintendent of Financial Services