Sunshine Centres for Seniors - August 31, 2007

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 by the Superintendent of Financial Services to make an Order under section 78(4) of the PBA consenting to a payment out of the Retirement Plan for Employees of United Way of Greater Toronto and Participating Agencies (the Plan), Registration Number 0316240.   

TO:

Sunshine Centres for Seniors
117 Bloor St. East
Toronto,  ON  
M4Y 2N7

Attention: Ms. Jacquie Buncel
Executive Director

AND TO:

United Way of Greater Toronto
26 Wellington St. East, 11th Floor
Toronto,   ON  
M5E 1W9

Attention: Ms. Catherine Smith
Chief Operating Officer

NOTICE OF PROPOSAL

I PROPOSE TO MAKE AN ORDER under section 78(4) of the PBA, consenting to the payment out of the Plan, to the Sunshine Centres for Seniors (SCS), as at September 28, 2004 and January 4, 2006 in the amount of $16,050 (but not to exceed the amount of available funds in the SCS pension fund) plus interest to the date of payment.

REASONS:

1. Sunshine Centres for Seniors is a former participating employer as defined in the Plan.
   
   
2. As a result of an administrative oversight, payments (actuarial fees) which should have been made from the pension fund were paid from employer general revenue.
   
   
3. Evidence of the overpayment to the fund has been submitted to the Financial Services Commission of Ontario.
   
   
4. Such further and other reasons as may come to my attention.

In accordance with section 105(1) of the PBA, an extension of the time limit under section 78(4) has been given.

YOU ARE ENTITLED TO A HEARING by the Financial Services Tribunal (the “Tribunal”) pursuant to section 89(6) of the PBA. To request a hearing, you must deliver to the Tribunal a written notice that you require a hearing, within thirty (30) days after this Notice of Proposal is served on you.*

YOUR WRITTEN NOTICE must be delivered to:

Financial Services Tribunal
5160 Yonge Street
14th Floor
Toronto, Ontario
M2N 6L9

Attention: The Registrar

FOR FURTHER INFORMATION on a Form for the written notice, please see the Tribunal website at www.fstontario.ca or contact the Registrar of the Tribunal by phone  at 416- 590-7294,  toll free at 1-800-668-0128, ext. 7294, or by fax at 416-226-7750.

IF YOU FAIL TO REQUEST A HEARING WITHIN THIRTY (30) DAYS, I MAY CARRY OUT THE PROPOSAL AS DESCRIBED IN THIS NOTICE.

DATED at Toronto, Ontario, this 31st day of August, 2007

________________________________

K. David Gordon
Deputy Superintendent, Pensions