SPECIFIED TERMS AND CONDITIONS OF THE PLAN. (a) Where the OTPPB is the Importing Plan Pension Authority and the Applicant
(i) was employed on either a full-time or part-time basis with an employer covered by the Exporting Plan prior to the Applicant ceasing to be an Active Member of the Exporting Plan, and
(ii) has been employed on less than a full-time or part-time basis with an employer covered by the Ontario Teachers' Pension Plan, the salary for the purposes of section 7(b)(ii) will be determined in accordance with the normal administrative practices of the OTPPB.
(b) Where the OTPPB is the Importing Plan Pension Authority, the OTPPB will recognize the Applicant's Credited Service under the Exporting Plan, that is eligible for transfer, to determine eligibility for pension and ancillary benefits under the Ontario Teachers' Pension Plan.
(c) Effective January 1, 2007, contributions, and associated benefit calculations, are capped at a maximum annual rate of pay of six times the YMPE for any given calendar year.
(d) Credited service accrued for periods after 2009 and before 2014 will receive guaranteed indexation equal to 50% of the change in CPI calculated on a twelve-month average basis. Indexation above 50% of CPI, up to a maximum of 100% of the change in CPI calculated on a twelve-month average basis will be conditional on the funded status of the plan. A maximum annual increase of 8% is applied and any excess over 8% is carried forward and applied in future years when the increase is less than 8%.
(e) Credited service accrued for periods after 2013 will receive guaranteed indexation equal to 0% of the change in CPI calculated on a twelve-month average basis. Indexation above 0% of CPI, up to a maximum of 100% of the change in CPI calculated on a twelve-month average basis will be conditional on the funded status of the plan. A maximum annual increase of 8% is applied and any excess over 8% is carried forward and applied in future years when the increase is less than 8%. PROVINCE OF NEW BRUNSWICK TEACHERS’ PENSION PLAN BOARD OF TRUSTEES
SPECIFIED TERMS AND CONDITIONS OF THE PLAN. The New Brunswick Teachers’ Pension Plan as the Exporting Plan will allow transfers only if the Importing Plan can certify that the transferred funds will remain locked-in.
1. ELIGIBILITY
SPECIFIED TERMS AND CONDITIONS OF THE PLAN. (a) Where the Nova Scotia Teachers’ Pension Plan is the Importing Plan, the salary for the purposes of section 7(b)(ii) of the Agreement shall be based on the annualized salary of the Applicant under the Nova Scotia Teachers’ Pension Plan as at the Date of Application.
(b) Where Nova Scotia Teachers’ Pension Plan is the Exporting Plan and
(i) the Applicant has accrued Credited Service under the Nova Scotia Teachers’ Pension Plan pursuant to the leave of absence provisions of the Nova Scotia Teachers’ Pension Plan, and
(ii) the Applicant has accrued Credited Service for the same period of time in the Importing Plan, the Nova Scotia Teachers’ Pension Plan will not include that period of Credited Service or related salary in determining the Available Amount pursuant to section 7(a)(i) of the Agreement, and will refund the Applicant’s contributions for that period in accordance with the terms and conditions of the Nova Scotia Teachers’ Pension Plan.
(c) Where the Nova Scotia Teachers’ Pension Plan is the Importing Plan, the amount credited to the Applicant pursuant to section 15(b) of the Agreement shall, if applicable, be designated as pre-1988 or post-1987 contributions pursuant to the policies and procedures of the Nova Scotia Teachers’ Pension Plan. APPENDIX "I" SASKATCHEWAN TEACHERS' FEDERATION
SPECIFIED TERMS AND CONDITIONS OF THE PLAN. (a) In determining the Required Amount for benefits under the Saskatchewan Teachers’ Retirement Plan (“STRP”):
(i) The Applicant's best average five years' salary at June 30, 2015 and the Applicant’s annual career salary amounts for each plan year after June 30, 2015 and prior to the Date of Application shall be deemed to be equal to the Applicants best average five years’ salary at the Date of Application; and
(ii) Future pre-retirement upgrades are assumed to equal 50% of inflation, or such amount permitted by the funded status of the STRP.
(b) In determining the Available Amount for benefits under the STRP, future Pre Retirement Upgrades are assumed to equal to 50% of inflation, or such amount permitted by the funded status of the STRP.
(c) In determining the Required Amount and the Available Amount for benefits under the STRP, benefits shall be assumed to increase annually after the Applicants date of pension commencement as follows:
(i) In respect of Credited Service prior to July 1, 2015: the lesser of 3% and 80% of inflation; and
(ii) In respect of Credited Service on and after July 1, 2015: 50% of inflation, or such amount as permitted by the funded status of the STRP. Notwithstanding the foregoing, for Applicants electing a transfer to the STRP, actual pre-retirement upgrades and post-retirement indexation will be granted to accrued benefits pursuant to the applicable STRP terms at that time.
SPECIFIED TERMS AND CONDITIONS OF THE PLAN. Where the Saskatchewan Teachers’ Superannuation Commission is the Importing Plan Pension Authority, the highest average salary for the purposes of calculating the Required Amount shall be determined by using, with respect to any period of service being transferred to the Importing Plan, the higher of:
(a) the historical annualized salaries of the Applicant while a member of the Exporting Plan, and
(b) the salaries used for determination of benefits under the terms and conditions of the Importing Plan calculated pursuant to section 7.
SPECIFIED TERMS AND CONDITIONS OF THE PLAN. Where TRAF is the Importing Plan Pension Authority, the projected salary shall be the higher of
