Common use of PENSIONS AND RETIREMENT Clause in Contracts

PENSIONS AND RETIREMENT. Subject to clause each full-time member in the "Permanent Service" class of members shall be covered by the provisions of By-law No. of the City of Toronto and amendments thereto, being a by-law "to provide pensions for employees, their spouses and children, of Police Service of the City of Toronto and other participating employers". It is understood and agreed that to the extent that the Ontario Municipal Employees Retirement System Plan is by statute applicable to any member of the Service, the By-law No. shall not be applicable to such Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs. The Board has placed One Hundred Thousand Dollars in a to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing payments and pension plan payments Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximatelyone hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. The Trustees will continue to have the right to adjust the amount depending on the circumstancesof the individual case from time to time. The adequacy of the Fund will be reviewed time to time.

PENSIONS AND RETIREMENT. Subject to clause each full-full time member in the "Permanent Service" class of members shall be covered by the provisions of By-law No. of the City of Toronto and amendments thereto, being a by-law "to provide pensions for employees, their spouses and children, of Police Service of the City of Toronto and other participating employers". It is understood and agreed that to the extent that the Ontario Municipal Employees Retirement System Plan is by statute applicable to any member of the Service, the By-law No. shall not be applicable to such member. Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs. The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments and pension plan payments Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximatelyone hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. The Trustees trustees will continue to have the right to adjust the amount depending on the circumstancesof circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.

PENSIONS AND RETIREMENT. Subject to clause each full-time member in the "“Permanent Service" ” class of members shall be covered by the provisions of By-law No. of the City of Toronto and amendments thereto, being a by-law "“to provide pensions for employees, their spouses and children, of the Police Service of the City of Toronto and other participating employers"”. It is understood and agreed that to the extent that the Ontario Municipal Employees Retirement System Plan is by statute applicable to any member of the Service, the By-law No. shall not be applicable to such member. Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs. The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments and pension plan payments Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's ’s death, so that the disposable after tax income of the surviving dependents will be approximatelyone approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan the Semi-Private and Comprehensive Medical Plans and the Dental Plan. The Trustees will continue to have the right to adjust the amount depending on the circumstancesof circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.

PENSIONS AND RETIREMENT. Subject to clause each full-full time member in the "“Permanent Service" ” class of members shall be covered by the provisions of By-law No. of the City of Toronto and amendments thereto, being a by-law "“to provide pensions for employees, their spouses and children, of Police Service of the City of Toronto and other participating employers"”. It is understood and agreed that to the extent that the Ontario Municipal Employees Retirement System Plan is by statute applicable to any member of the Service, the By-law No. shall not be applicable to such member. Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs. The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments and pension plan payments Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's ’s death, so that the disposable after tax income of the surviving dependents will be approximatelyone approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan the Semi-Private and Comprehensive Medical Plans and Dental Plan. The Trustees trustees will continue to have the right to adjust the amount depending on the circumstancesof circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.