IN THE MATTER OF the Pension Benefits Act, R.S.O. 1990, c. P.8 (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 The Toronto-Dominion Bank Pension Plan for Former Employees of the Canada Trust Group of Companies (the Plan), Registration Number 276485.
The Toronto-Dominion Bank
City Centre Tower A - 20th Floor
275 Dundas Street
No Notice requiring a 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.
IT IS THEREFORE ORDERED to consent to the payment, out of the Plan, to The Toronto-Dominion Bank, as at July 11, 2007 in the amount of $2,240,632.80 plus interest to the date of payment for the following reasons:
- The Toronto-Dominion Bank is the employer as defined in the Plan.
- As a result of the employer pre-funding the contributions, for the period of November 1, 2006 to July 11, 2007, on the basis of the actuarial report effective October 31, 2004, but when the new report as at October 31, 2006 was filed, such contributions exceeded those required by the October 31, 2006 report.
- Evidence of the overpayment to the fund has been submitted to the Financial Services Commission of Ontario.
DATED at Toronto, Ontario, this 3rd day of January, 2008.
Director, Pension Plans Branch
by Delegated Authority from
the Superintendent of Financial Services