Pension Plan for Salaried Employees of Gerdau Ameristeel Corporation Whitby Division - December 12, 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 87(2) of the PBA and to Make an Order under section 87(2)(c) of the PBA relating to the Pension Plan for Salaried Employees of Gerdau Ameristeel Corporation Whitby Division, Registration Number 0550210.


TO:                

Gerdau Ameristeel Corporation
1801 Hopkins Street
Whitby ON L1N 5T1

Attention:  Natasha Cotter
Human Resources Manager                             

Employer & Administrator of the Plan

 

AND TO:       

Edgar G. Mondesire
46 Sable Drive
Ancaster, Ontario
L9K 1K9

Former Member of the Plan

 

ORDER

ON OR ABOUT September 22, 2008, the Superintendent of Financial Services (the “Superintendent”) issued a Notice of Proposal (the “NOP”), to make an Order in respect of the Pension Plan for Salaried Employees of Gerdau Ameristeel Corporation Whitby Division, Registration Number 0550210, (the “Plan”) under section 87(2)(a) of the PBA, that Gerdau Ameristeel Corporation provide Edgar G. Mondesire with the Conversion Option that was

provided to other members of the Plan in February 2002, and to make an Order under section 87(2)(c) of the PBA, that Gerdau Ameristeel Corporation make contributions to the Plan fund with respect to Edgar G. Mondesire’s pension benefits during the period while Edgar G. Mondesire was on salary continuance. 

NO REQUEST FOR HEARING before the Financial Services Tribunal (the “Tribunal”) was filed by Gerdau Ameristeel Corporation.

For the reasons set out in the NOP, I ORDER:


a) Gerdau Ameristeel Corporation provide Edgar G. Mondesire with the Conversion Option that was provided to other members of the Plan in February 2002; and


b) Gerdau Ameristeel Corporation make contributions to the Plan fund with respect to Edgar G. Mondesire’s pension benefits during the period while Edgar G. Mondesire was on salary continuance. 

 

DATED at Toronto, Ontario, this 12th day of  December, 2008.                                

 

 

___________________________________________                          

Toni Mancini
Director(Acting), Pension Plans Branch
by delegated Authority from
the Superintendent of Financial Services


 
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