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.
Dovercourt Boys & Girls Club
180 Westmoreland Avenue
Attention: Mr. Tony Puopolo
United Way of Greater Toronto
26 Wellington St. East, 11th Floor
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 Dovercourt Boys & Girls Club (DBGC), as at March 2, 2006 and January 12, 2007 in the amount of $15,975 (but not to exceed the amount of available funds in the DBGC pension fund) plus interest to the date of payment.
- Dovercourt Boys & Girls Club is a former participating employer as defined in the Plan.
- 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.
- Evidence of the overpayment to the fund has been submitted to the Financial Services Commission of Ontario.
- 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
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
* NOTE - Pursuant to section 112 of the PBA any Notice, Order or other document is sufficiently given, served or delivered if delivered personally or sent by regular mail and any document sent by regular mail shall be deemed to be given, served or delivered on the seventh day after the date of mailing.