Common use of Pension Advisory Committee Clause in Contracts

Pension Advisory Committee. The Company and the Association shall establish a Pension Advisory Committee consisting of a maximum of three (3) representatives from the Company and three (3) representatives of the Association and one (1) retired member of the plan. The purposes of the Advisory Committee are: a) To promote awareness and understanding of the plan; b) To monitor the administration of the plan; and c) To make recommendations to the administrator of the plan respecting the administration of the plan. The Advisory Committee shall have the right to examine the records of the administrator in respect of the administration of the plan in order to fulfil the purposes of the committee and the administrator of the plan shall provide the Advisory Committee with: a) A copy of the current plan text; b) A copy of plan text amendments; and c) A copy of plan documents that relate to the plan that are required to be filed with the Pension Commission (such as the annual information return, valuation report, and audited financial statement). But all of the above does not apply in respect of information as to the service, wages, pension benefit or other personal information related to any specific member without the person's specific prior consent. The Advisory Committee shall meet a maximum of four (4) times per calendar year. Some committee meetings may take the form of training sessions as arranged by the administrator of the plan. All expenses of the Advisory Committee approved by the administrator of the plan shall be charged to the plan. The Company will provide the Association with a copy of all bargaining unit pension plan text amendments at least twenty-one days prior to presenting such amendments to the Board of Directors for execution. The Company will provide the Pension Advisory Committee with individual member data, accrued benefit, contributions, etc. only if each individual employee provides written authorization. The Company will provide the Pension Advisory with a copy of the actuarial valuation report which contains a description of the actuarial assumptions and cost method when the report is filed with Ontario Pension Commission. The Company will provide a copy of the Statement of the Investment Policies and Goals when the statement is filed with the Ontario Pension Commission.

Pension Advisory Committee. The Company and the Association shall establish a Pension Advisory Committee consisting of a maximum of three (3) representatives from the Company and three (3) representatives of the Association and one (1) retired member of the plan. The purposes of the Advisory Committee are: a) : To promote awareness and understanding of the plan; b) ; To monitor the administration of the plan; and c) and To make recommendations to the administrator of the plan respecting the administration of the plan. The Advisory Committee shall have the right to examine the records of the administrator in respect of the administration of the plan in order to fulfil the purposes of the committee and the administrator of the plan shall provide the Advisory Committee with: a) : A copy of the current plan text; b) ; A copy of plan text amendments; and c) and A copy of plan documents that relate to the plan that are required to be filed with the Pension Commission (such as the annual information return, valuation report, and audited financial statement). But all of the above does not apply in respect of information as to the service, wages, pension benefit or other personal information related to any specific member without the person's specific prior consent. The Advisory Committee shall meet a maximum of four (4) times per calendar year. Some committee meetings may take the form of training sessions as arranged by the administrator of the plan. All expenses of the Advisory Committee approved by the administrator of the plan shall be charged to the plan. The Company will provide the Association with a copy of all bargaining unit pension plan text amendments at least twenty-one days prior to presenting such amendments to the Board of Directors for execution. The Company will provide the Pension Advisory Committee with individual member data, accrued benefit, contributions, etc. only if each individual employee provides written authorization. The Company will provide the Pension Advisory with a copy of the actuarial valuation report which contains a description of the actuarial assumptions and cost method when the report is filed with Ontario Pension Commission. The Company will provide a copy of the Statement of the Investment Policies and Goals when the statement is filed with the Ontario Pension Commission.