Disclaimer
This is a reproduction of a Consent as issued and is provided for reference purposes only. In the event of an inconsistency, the Consent as issued takes precedence over this reproduction.

 

 
Superintendent of
Financial
Services
 
Ontario Coat of Arms
 
Surintendant des
services
financiers
 

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 Notice of Intended Decision of the Superintendent of Financial Services to consent under section 78(1) of the PBA to a payment out of the pension fund for the Non-Contributory Pension Plan for Hourly Employees of Rockwell International of Canada Ltd. – U.S. W.A. Local #3209 (Gananoque, Ont.), Registration Number 0285148.

TO:

Meritor Aftermarket Canada Inc.
c/o Meritor Inc.
2135 West Maple Road
Troy MI 48084
USA

Attention:

Mike Lei
Senior Director, Compensation and Benefits

Applicant and Employer

AND TO:

Donna Wolfe
Principal, Pension Consulting
Morneau Shepell
30 Duke Street West Duke Tower, Suite 301
Kitchener ON N2H 3W5

 

CONSENT

ON OR ABOUT January 6, 2017, the Superintendent of Financial Services caused to be served on Meritor Aftermarket Canada Inc. a Notice of Intended Decision dated January 6, 2017, to consent, pursuant to section 78(1) of the PBA, to payment out of the pension fund for the Non-Contributory Pension Plan for Hourly Employees of Rockwell International of Canada Ltd. - U.S.W.A. Local #3209 (Gananoque, Ont.), Registration Number 0285148, to Meritor Aftermarket Canada Inc. in the amount of $792,000 as at January 1, 2015, plus adjustments to the actual date of payment.

NO REQUEST FOR HEARING was delivered to the Financial Services Tribunal by the Applicant or any other party within the time prescribed by section 89(6) of the PBA.

THE SUPERINTENDENT OF FINANCIAL SERVICES THEREFORE CONSENTS, for the reasons set out in the Notice of Intended Decision, to the payment out of pension fund for the Non-Contributory Pension Plan for Hourly Employees of Rockwell International of Canada Ltd. - U.S.W.A. Local #3209 (Gananoque, Ont.), Registration Number 0285148, to Meritor Aftermarket Canada Inc. in the amount of $792,000 as at January 1, 2015, plus adjustments to the actual date of payment.

THIS CONSENT IS EFFECTIVE ONLY AFTER the Applicant satisfies me that any payments pursuant to the Surplus Distribution Agreement to which the members, former members, retired members and any other persons (the “Affected Persons”) are entitled, and any other payments to which the Afffected Persions are entitled, have been paid, purchased, or otherwise provided for.

DATED at Toronto, Ontario, this 10th day of March,  2017.

Gino Marandola
Director, Pension Plans Branch
by Delegated Authority from the
Superintendent of Financial Services

© Queen's Printer for Ontario, 2017