The Corporation of the City of York Employee Pension Plan - Termination/Wind-Up

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The decision

2019-10-29 · Toronto City Council · adopted

As filed

City Council on October 29 and 30, 2019, adopted the following: 1. City Council approve the termination of The Corporation of the City of York Employee Pension Plan (the Plan), outlined in Schedule A attached to By-law 1428-2017, as amended, governing the Plan. 2. City Council authorize the City Solicitor, following the distribution of The Corporation of the City of York Employee Pension Plan's remaining assets in accordance

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with the decision of the York Plan Committee on June 19, 2019, to introduce a Bill to repeal By-law 1428-2017, as amended.

On the agenda

As the city filed it

This report seeks authority from Council to terminate The Corporation of the City of York Employee Pension Plan (York Plan) and distribute the assets remaining following the January 8, 2019 merger of the York Plan with the Ontario Municipal Employees Retirement System (OMERS) (remaining assets).

Staff recommended

The Controller recommends that: 1. City Council approve the termination of The Corporation of the City of York Employee Pension Plan (the Plan), outlined in Schedule A attached to By-law 1428-2017, as amended, governing the Plan. 2. City Council authorize the City Solicitor, following the distribution of The Corporation of the City of York Employee Pension Plan's remaining assets in accordance with the decision of the York Plan Committee on June 19, 2019, to introduce a Bill to repeal By-law 1428-2017, as amended.

Considered

2019-10-07 · General Government and Licensing Committee · adopted
Decision as filed
The General Government and Licensing Committee recommends that: 1. City Council approve the termination of The Corporation of the City of York Employee Pension Plan (the Plan), outlined in Schedule A attached to By-law 1428-2017, as amended, governing the Plan. 2. City Council authorize the City Solicitor, following the distribution of The Corporation of the City of York Employee Pension Plan's remaining assets in accordance
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with the decision of the York Plan Committee on June 19, 2019, to introduce a Bill to repeal By-law 1428-2017, as amended.
2019-10-29 · Toronto City Council · adopted

On the record

The item as the City filed it

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