Appendix F

Summary of Plan Provisions

Mercer has used and relied on the plan documents, including amendments and interpretations of plan provisions, supplied by Transit Windsor. If any plan provisions supplied are not accurate and complete, the results of any calculation may differ significantly from the results that would be obtained with accurate and complete information. Moreover, plan documents may be susceptible to different interpretations, each of which could be reasonable, and the results of estimates under each of the different interpretations could vary.

This valuation is based on the plan provisions in effect on December 31, 2019. Since the previous valuation, the Plan has been amended to reflect certain legislative requirements and to modify the allowable composition of the Pension Review Committee.

The following is a summary of the main provisions of the Plan in effect on December 31, 2019. This summary is not intended as a complete description of the Plan.

Background

The Plan became effective December 4, 1964. Benefits are based on a set formula and are entirely paid for by the Company. The Plan was frozen for future service accruals effective December 31, 1999. Pension benefits for service after January 1, 2000 are earned under the OMERS pension plan.

Eligibility for Membership

Participation in the plan was automatic for all employees who were members of Division 616 of the Amalgamated Transit Union and all employees in a clerical, secretarial or supervisory position within the Company. Full time employees became members on the first day of work at a probationary rate of pay. Part time employees became members when they satisfied the minimum legislated requirements for eligibility.

No new members are permitted to join the plan on and after January 1, 2000.