IN THE MATTER of the Pension Benefits Act, R.S.O. 1990, c. P.8, as amended (the Act);
AND IN THE MATTER of an Order made by the Superintendent of Financial Services under section 83 of the Act, respecting the Pension Plan for Slater Stainless Corp. Members of the United Steelworkers of America (Local 7777) (the “Plan”) Registration Number 0561464.
David R. Kearney
Morneau Sobeco Limited Partnership
895 Don Mills Road, Suite 700
One Morneau Sobeco Centre
Toronto, ON M3C 1W3
Vice President, Administration
Slater Stainless Corp.
6711 Mississauga Road, Ste. 202
Mississauga, ON L5N 2W3
145 King Street West
Toronto, ON M5G 1V8
Trustee in Bankruptcy
United Steelworkers of America, Local 7777
234 Eglinton Avenue East, Suite 800
Toronto, ON M4P 1K7
WHEREAS on February 21, 2006, the Director, Pension Plans Branch, by order and by delegated authority from the Superintendent of Financial Services declared, pursuant to sections 83 and 89 of the Act, that the Pension Benefits Guarantee Fund (the “Guarantee Fund”) applies to the Pension Plan;
NOW THEREFORE I shall allocate from the Guarantee Fund and pay to the Pension Plan, pursuant to subsection 34(7) of R.R.O. 1990, Reg. 909, under the Act (the “Regulation”), an amount not to exceed $9,324,700 which together with the Ontario assets of the Pension Plan, will provide for the benefits determined in accordance with section 34 of the Regulation. Any money allocated from the Guarantee Fund but not required to provide such benefits shall be returned to the Guarantee Fund.
DATED at Toronto, Ontario, this 24th day of February, 2006.
K. David Gordon
Deputy Superintendent, Pensions