Non-Contributory Pension Plan for Hourly-Rated Employees of Livingston Distribution Centres Inc. (Ontario Location) - February 5, 2008

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 Non-Contributory Pension Plan for Hourly-Rated Employees of Livingston Distribution Centres Inc. (Ontario Location)  Registration Number 492363


TO:

Hamish Dunlop
Principal
Morneau Sobeco Limited Partnership
895 Don Mills Road, Suite 700
One Morneau Sobeco Centre
Toronto, ON M3C 1W3

Administrator

AND TO:

Chris Tobin
Manager, Human Resources
TCT Logistics Inc.
4888 72nd Avenue Street East
Calgary, AB T2C 3Z2
Employer

AND TO:

Mark Rudnicki
KPMG Inc.
1200- 205 - 5th Avenue SW
Calgary, AB T2P 4B9

Trustee in Bankruptcy and Receiver

AND TO:

Raymond Lewis
Industrial Wood & Allied Workers of Canada, Local 700
2088 Weston Road
Toronto, ON M X 1X4

Union Representative


DECLARATION

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 Non-Contributory Pension Plan for Hourly-Rated Employees of Livingston Distribution Centres (Ontario Location)  (the “Plan”).

I DECLARE pursuant to sections 83 and 89 of the Act that the Pension Benefits Guarantee Fund (Guarantee Fund) applies to the Plan for the following reasons:

 

REASONS:

 

  1. The Plan is registered under the PBA, and

  2. The Plan provides defined benefits that are not exempt form the application of the Pension Benefits Guarantee Fund by the PBA or the Regulations made thereunder, and

  3. The Plan was wound up effective May 23, 2002, and

  4. 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 $752,100 as at July 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 Pension Benefits Guarantee Fund

 

DATED at Toronto, Ontario, this 5th day of February, 2008                

 

________________________________

Tom Golfetto
Director, Pension Plans Branch
by Delegated Authority from
the Superintendent of Financial Services

 
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