Item No. 9.3

Council Report: S 159/2020

Subject: The Contributory Pension Plan for Employees of Transit Windsor - Plan Amendment - City Wide

Reference:

Date to Council: November 25, 2020
Author: Patrick Delmore
Executive Director, Transit Windsor
519-944-4141 ext. 2232
pdelmore@citywindsor.ca
Transit Windsor
Report Date: November 6, 2020
Clerk’s File #: MT2020 & AS2020

To: Mayor and Members of City Council

Recommendation:

That the Environment, Transportation and Public Safety Standing Committee, sitting as the Transit Windsor Board of Directors, and City Council:

  1. APPOINT Michael Duval, Operations Coordinator of Transit Windsor, as Committee Chair of the Contributory Pension Plan for Employees of Transit Windsor; and,

  2. THAT Patrick Delmore be APPOINTED as a Retired Participant of the Contributory Pension Plan for Employees of Transit Windsor; and,

  3. THAT the Deputy Treasurer of Financial Accounting of the City of Windsor be APPROVED to assume the duties of the Plan Administrator for the Contributory Pension Plan for Employees of Transit Windsor.

Executive Summary:

N/A.

Background:

The Contributory Pension Plan for the Employees of Transit Windsor is a defined benefit plan established to provide pension benefits to all employees of Transit Windsor who meet the eligibility requirements as specified in the plan document. The Plan is registered with the Canada Revenue Agency (CRA) under the Federal Pension Benefits Standards Act (PBSA). The Plan is also a registered pension trust as defined in the Income Tax Act and as such is not subject to income taxes. The Plan was frozen as at