Common use of Funding Policy Clause in Contracts

Funding Policy. The Trustees, with the approval of the Parties, shall adopt a Funding Policy, and may amend it from time to time, in a manner not inconsistent with the Central Collective Agreement, governing, inter alia: (a) the actuarial methods and assumptions to be used in actuarial valuations of the CUPE EWBT Plan; (b) the margins or explicit reserves, if any, to be used in the actuarial valuations of the CUPE EWBT Plan; (c) the consequences of any excess or deficiency of assets relative to the CUPE EWBT Plan's liabilities as may be disclosed in any actuarial valuation, subject to the following conditions: (i) Surpluses in the Fund or a Separate Account may not be refunded or distributed in cash, but may be used, as determined by the Trustees for any or all of the following: (A) CFR or other reserves; (B) enhance Benefits or change Eligibility Requirements; (C) expand eligibility for the CUPE EWBT Plan; or (D) reduce Participating Employee Contributions; (ii) Actual and projected funding deficiencies of the CUPE EWBT Plan will be addressed by no later than the next regular Plan renewal by one or more of the following methods: (A) use of the CFR or other reserves; (B) increased Participating Employee Contributions; (C) amendment of the CUPE EWBT Plan or termination of Benefits (other than life insurance benefits); (D) adoption of measures to decrease administration or delivery costs or Fund investment costs; (E) restriction of eligibility in the CUPE EWBT Plan; (iii) the Funding Policy shall require that the Trustees take the necessary actions or decisions with respect to the CUPE Separate Account during a period in which the CFR is less than 8.3% of annual CUPE EWBT Plan expenses over a projected three year period. If the motion to amend the CUPE EWBT Plan is not adopted, the Trustees will increase Participating Employee Contributions to restore the balance to at least 8.3% of the total annual expenses.

Funding Policy. The Trustees, with the approval of the Parties, shall adopt a Funding Policy, and may amend it from time to time, in a manner not inconsistent with the Central Collective Agreement, governing. It shall govern, inter alia:alia:‌ (a) the actuarial methods and assumptions to be used in actuarial valuations of the CUPE EWBT AEFO Plan; (b) the margins or explicit reserves, if any, to be used in the actuarial valuations of the CUPE EWBT AEFO Plan; (c) the consequences of any excess or deficiency of assets relative to the CUPE EWBT AEFO Plan's ’s liabilities as may be disclosed in any actuarial valuation, subject to the following conditions: (i) Surpluses in the Fund or a Separate Account may not be refunded or distributed in cash, but may be used, as determined by the Trustees for any or all of the following: (A) CFR or other reserves; (B) to enhance Benefits or change Eligibility Requirements; (C) expand eligibility for to increase the CUPE EWBT Plannumber of AEFO Plan members; or (D) to reduce Participating Employee Contributions; (ii) Actual and projected funding deficiencies of the CUPE EWBT AEFO Plan will be addressed by no later than the next regular Plan renewal by one or more of the following methods: (A) use of the CFR or other reserves; (B) increased Participating Employee Contributions; (C) amendment of the CUPE EWBT AEFO Plan or termination of Benefits (other than life insurance benefits); (D) adoption of measures to decrease administration or delivery costs or Fund investment costs; (E) restriction of eligibility membership in the CUPE EWBT AEFO Plan; (iii) the Funding Policy shall require that the Trustees take the necessary actions or decisions with respect to the CUPE AEFO Separate Account during a period in which the CFR is less than 8.3% of annual CUPE EWBT AEFO Plan expenses over a projected three year period. If the motion to amend the CUPE EWBT AEFO Plan is not adopted, the Trustees will shall increase Participating Employee Contributions to restore the balance to at least 8.3% of the total annual expenses.

Funding Policy. The Trustees, with the approval of the Parties, shall adopt a Funding Policy, and may amend it from time to time, in a manner not inconsistent with the Central Collective Agreement, governing, inter alia:alia:‌ (a) the actuarial methods and assumptions to be used in actuarial valuations of the CUPE EWBT OSSTF Plan and OSSTF-EW Plan; (b) the margins or explicit reserves, if any, to be used in the actuarial valuations of the CUPE EWBT OSSTF Plan and OSSTF-EW Plan; (c) the consequences of any excess or deficiency of assets relative to the CUPE EWBT OSSTF Plan or OSSTF-EW Plan's ’s liabilities as may be disclosed in any actuarial valuation, subject to the following conditions: (i) Surpluses in the Fund or a Separate Account may not be refunded or distributed in cash, but may be used, as determined by the Trustees for any or all of the following: (A) CFR or other reserves; (B) enhance Benefits or change reduce Eligibility Requirements; (C) expand eligibility for the CUPE EWBT OSSTF Plan and the OSSTF-EW Plan; or (D) reduce Participating Employee Contributions;. (ii) Actual and projected funding deficiencies of the CUPE EWBT OSSTF Plan and OSSTF-EW Plan will be addressed by no later than the next regular Plan renewal by one or more of the following methods: (A) use of the CFR or other reserves; (B) increased Participating Employee Contributions; (C) amendment of the CUPE EWBT OSSTF Plan and/or OSSTF-EW Plan or termination of Benefits (other than life insurance benefits); (D) adoption of measures to decrease administration or delivery costs or Fund investment costs; (E) restriction of eligibility in the CUPE EWBT OSSTF Plan and/or OSSTF-EW Plan;. (iii) the Funding Policy shall require that the Trustees take the necessary actions or decisions with respect to the CUPE OSSTF Separate Account and OSSTF-EW Separate Account during a period in which the CFR is less than 8.3% of annual CUPE EWBT OSSTF Plan or OSSTF-EW Plan expenses over a projected three year period. If the motion to amend the CUPE EWBT OSSTF Plan and/or OSSTF-EW Plan is not adopted, the Trustees will increase Participating Employee Contributions to restore the balance to at least 8.3% of the total annual expenses.

Funding Policy. The Trustees, with the approval of the Parties, shall adopt a Funding Policy, and may amend it from time to time, in a manner not inconsistent with the Central Collective Agreement, governing, inter alia:alia:‌ (a) the actuarial methods and assumptions to be used in actuarial valuations of the CUPE EWBT ETFO Plan and ETFO-EW Plan; (b) the margins or explicit reserves, if any, to be used in the actuarial valuations of the CUPE EWBT ETFO Plan and ETFO-EW Plan; (c) the consequences of any excess or deficiency of assets relative to the CUPE EWBT ETFO Plan or ETFO-EW Plan's ’s liabilities as may be disclosed in any actuarial valuation, subject to the following conditions: (i) Surpluses in the Fund or a Separate Account may not be refunded or distributed in cash, but may be used, as determined by the Trustees for any or all of the following: (A) CFR or other reserves; (B) enhance Benefits or change reduce Eligibility Requirements; (C) expand eligibility for the CUPE EWBT ETFO Plan and the ETFO-EW Plan; or (D) reduce Participating Employee Contributions;. (ii) Actual and projected funding deficiencies of the CUPE EWBT ETFO Plan and ETFO-EW Plan will be addressed by no later than the next regular Plan renewal by one or more of the following methods: (A) use of the CFR or other reserves; (B) increased Participating Employee Contributions; (C) amendment of the CUPE EWBT ETFO Plan and/or ETFO-EW Plan or termination of Benefits (other than life insurance benefits); (D) adoption of measures to decrease administration or delivery costs or Fund investment costs; (E) restriction of eligibility in the CUPE EWBT ETFO Plan and/or ETFO-EW Plan; (iii) the Funding Policy shall require that the Trustees take the necessary actions or decisions with respect to the CUPE ETFO Separate Account and ETFO-EW Separate Account during a period in which the CFR is less than 8.3% of annual CUPE EWBT ETFO Plan or ETFO-EW Plan expenses over a projected three year period. If the motion to amend the CUPE EWBT ETFO Plan and/or ETFO-EW Plan is not adopted, the Trustees will increase Participating Employee Contributions to restore the balance to at least 8.3% of the total annual expenses.

Funding Policy. The Trustees, with the approval of the Parties, shall adopt a Funding Policy, and may amend it from time to time, in a manner not inconsistent with the Central Collective Agreement, governing, inter alia:alia:‌ (a) the actuarial methods and assumptions to be used in actuarial valuations of the CUPE EWBT OECTA Plan; (b) the margins or explicit reserves, if any, to be used in the actuarial valuations of the CUPE EWBT OECTA Plan; (c) the consequences of any excess or deficiency of assets relative to the CUPE EWBT OECTA Plan's liabilities as may be disclosed in any actuarial valuation, subject to the following conditions: (i) Surpluses in the Fund or a Separate Account may not be refunded or distributed in cash, but may be used, as determined by the Trustees for any or all of the following: (A) CFR or other reserves; (B) enhance Benefits or change reduce Eligibility Requirements; (C) expand eligibility for the CUPE EWBT OECTA Plan; or (D) reduce Participating Employee Contributions;. (ii) Actual and projected funding deficiencies of the CUPE EWBT OECTA Plan will be addressed by no later than the next regular Plan renewal by one or more of the following methods: (A) use of the CFR or other reserves; (B) increased Participating Employee Contributions; (C) amendment of the CUPE EWBT OECTA Plan or termination of Benefits (other than life insurance benefits); (D) adoption of measures to decrease administration or delivery costs or Fund investment costs; (E) restriction of eligibility in the CUPE EWBT OECTA Plan;. (iii) the Funding Policy shall require that the Trustees take the necessary actions or decisions with respect to the CUPE OECTA Separate Account during a period in which the CFR is less than 8.3% of annual CUPE EWBT OECTA Plan expenses over a projected three year period. If the motion to amend the CUPE EWBT OECTA Plan is not adopted, the Trustees will increase Participating Employee Contributions to restore the balance to at least 8.3% of the total annual expenses.