Acts and Regulations

2021-1 - Uniform Contributory Pension Plan

Full text
Current to 1 January 2024
NEW BRUNSWICK
REGULATION 2021-1
under the
Local Governance Act
(O.C. 2020-270)
Filed January 6, 2021
Under subsection 188(1) of the Local Governance Act, the Lieutenant-Governor in Council makes the following Regulation:
Citation
1This Regulation may be cited as the Uniform Contributory Pension Plan RegulationLocal Governance Act.
Definitions
2The following definitions apply in this Regulation.
“Act” means the Local Governance Act.(Loi)
“actuarially equivalent” means of equivalent value computed by an actuary on an actuarial basis approved by the Board.(actuariellement équivalente)
“actuary” means a person or firm appointed by the Board under paragraph 16(1)(b).(actuaire)
“applicable legislation” means the Income Tax Act (Canada), the Pension Benefits Act and any other legislation of Canada or a province or territory of Canada respecting pensions, including rules, guidelines, regulations or conditions established or prescribed affecting the registration of the plan.(législation applicable)
“approved employer” means the following employers:(employeur agréé)
(a) the Government of Canada, including a Crown corporation or agency;
(b) the government of a province or territory of Canada;
(c) the Council of Maritime Premiers;
(d) The New Brunswick Association of Nursing Homes Inc. – L’Association des foyers de secours du Nouveau-Brunswick inc.;
(e) a council of a local government, the employees of which contribute to a superannuation plan or a pension fund or plan under the Local Governance Act or any Act relating to the local government; and
(f) an authority that operates a hospital, educational facility or electric power distribution system, the employees of which contribute to a superannuation plan or a pension fund or plan or contribute to a corporation, board or commission that operates a pension plan for a group of employees in the Province.
“Board” means the Pension Board continued under subsection 15(1).(commission)
“Chair” means the Chair of the Board appointed under subsection 15(5).(président)
“committee” means the Pension Committee continued under subsection 9(1).(comité)
“credited interest” means interest on a member’s contributions to the plan, compounded annually from the first day of the plan year following the date on which the contributions were made to the first day of the month in which a determination of the interest is to be made.(intérêts accumulés)
“employee” means a person who is employed on a regular, permanent basis as determined by the person’s employer.(employé)
“employer” means a participating body that employs an employee.(employeur)
“employment” means service with an employer in Canada.(emploi)
“investment agency” means an insurance company, trust company or other legal entity appointed by the Board under paragraph 16(1)(h).(agence de placement)
“investment agreement” means an agreement that the Board enters into to provide for the investment of the pension fund.(convention de placement)
“member” means an employee who becomes a member of the plan in accordance with the provisions of the plan and fulfills any obligations imposed by the plan.(participant)
“participating body” means any of the following which adopt the plan for its eligible employees and which make contributions to the plan on behalf of its eligible employees:(organisme participant)
(a) a local government; and
(b) a board, commission or corporation that carries out a local government function.
“pension fund” means the assets held to finance the benefits payable under the plan.(caisse de retraite)
“plan” means the New Brunswick Municipal Employees Pension Plan continued under section 3.(régime)
“plan manager” means the person or corporation appointed by the Board under paragraph 16(1)(e) to assist the Board with the administration of the plan.(gestionnaire du régime)
“plan year” means the calendar year.(année du régime)
“retired member” means a member or terminated vested member who has begun receiving retirement benefits under the plan.(participant retraité)
“Secretary-Treasurer” means the Secretary-Treasurer of the Board appointed under subsection 27(1).(secrétaire-trésorier)
“terminated vested member” means a member who satisfies the following conditions:(participant ayant droit à la retraite)
(a) the member has terminated the member’s employment;
(b) the member has elected or is required by applicable legislation to take a deferred retirement benefit in accordance with the plan; and
(c) the member is not receiving retirement benefits.
PENSION PLAN
Continuation of plan
3The New Brunswick Municipal Employees Pension Plan established by New Brunswick Regulation 81-34 under the Municipalities Act and continued by New Brunswick Regulation 2010-23 under the Municipalities Act is continued as the uniform contributory pension plan for permanent employees of local governments and boards and commissions that carry out local government functions.
Purpose of plan
4The purpose of the plan is to make available to local governments and boards and commissions carrying out local government functions a uniform contributory pension plan for their permanent employees and to provide certain retirement and related benefits for and on behalf of all eligible employees who become members of the plan.
Registration of plan
5The plan shall be maintained as a registered pension plan under all applicable legislation.
Amendment or termination of plan
6(1)The plan shall be a permanent plan for the exclusive benefit of the members, retired members, terminated vested members and their beneficiaries and contingent annuitants.
6(2)Despite subsection (1), the Board may amend the plan as it considers appropriate, subject to the following conditions:
(a) an amendment shall not reduce a member’s, retired member’s, terminated vested member’s, beneficiary’s or contingent annuitant’s accrued benefits under the plan; and
(b) an amendment shall not divert any assets of the pension fund for a purpose other than for the exclusive benefit of the members, retired members, terminated vested members and their beneficiaries or contingent annuitants under the plan, except in accordance with paragraph (7)(b).
6(3)The Board or any other person may recommend to the Minister that the plan be terminated.
6(4)Before making a recommendation to terminate the plan, the Board shall do the following:
(a) notify the members, retired members and terminated vested members of the recommendation to terminate the plan;
(b) receive and consider submissions from the following persons:
(i) members, retired members and terminated vested members;
(ii) participating bodies;
(iii) the plan manager; and
(iv) any other interested person; and
(c) carry out an investigation of any matter related to the termination of the plan.
6(5)On receipt of a recommendation to terminate the plan, the Minister shall do the following:
(a) receive and consider submissions from those persons referred to in paragraph (4)(b);
(b) carry out an investigation of any matter related to the termination of the plan; and
(c) make a recommendation to the Lieutenant-Governor in Council with regard to the termination or continuation of the plan.
6(6)After considering the recommendation of the Board and on the recommendation of the Minister, the Lieutenant-Governor in Council shall direct the Board to do one of the following:
(a) terminate the plan in accordance with subsection (7); or
(b) continue the plan subject to the directions approved by the Lieutenant-Governor in Council.
6(7)If the plan is terminated or contributions under it are discontinued, the pension fund shall be applied for the benefit of the members, retired members, terminated vested members and their beneficiaries and contingent annuitants in accordance with the following terms:
(a) the pension fund shall be applied, to the extent its value permits, to the following purposes and in the order named, so that each purpose shall be given effect to the maximum extent possible before a subsequent purpose is carried out:
(i) the provision of death benefits which are being paid in accordance with the plan with respect to members or terminated vested members deceased before the date the plan is terminated or contributions are discontinued;
(ii) the provision of retirement benefits to retired members or annuities to the beneficiaries or contingent annuitants of deceased retired members;
(iii) the provision of benefits which have accrued to members and terminated vested members whose benefits have vested in accordance with the plan;
(iv) the provision of benefits to members or terminated vested members equivalent to the value of their contributions at the date the plan is terminated or contributions are discontinued, less the value of the benefits provided under subparagraph (iii);
(v) the provision of the balance of benefits accrued to the members and terminated vested members receiving a benefit under subparagraph (iv); and
(vi) the allocation, in an equitable manner as determined by the Board, among the members contributing at the date of discontinuance of the plan of the balance of the pension fund that remains after all liabilities under the plan with respect to the members, retired members, terminated vested members and their beneficiaries and contingent annuitants have been fully satisfied;
(b) despite subparagraph (a)(vi), a balance that would create benefits in excess of the maximum prescribed by the plan shall be refunded to the employers in an equitable manner as determined by the Board;
(c) the amounts required to satisfy the purposes under paragraph (a) shall be determined by an actuary;
(d) the Board may direct that an annuity that a person is entitled to under paragraph (a) be purchased for the person from an institution licensed to transact annuity business in Canada that is selected by the employer and the Board; and
(e) if there is a conflict between this subsection and the provisions of any applicable legislation, the applicable legislation prevails.
Pension fund
7(1)All contributions, investment income and other assets received for the purposes of the plan shall be deposited in the pension fund.
7(2)All the benefits under the plan shall be paid from the pension fund.
7(3)Subject to this section and section 6, no part of the pension fund, including income on the pension fund, shall be used for or directed to a purpose other than a purpose for the exclusive benefit of members, retired members, terminated vested members and their beneficiaries and contingent annuitants entitled to benefits under the plan.
7(4)The pension fund shall be held, invested, reinvested and distributed by an investment agency in accordance with the following:
(a) the terms of the investment agreement, the provisions of the plan and any applicable legislation;
(b) the terms of an insurance company contract; or
(c) if the Board so chooses, partially under paragraph (a) and partially under paragraph (b).
7(5)All expenses incurred in the operation and administration of the plan shall be withdrawn from the pension fund unless they are paid separately.
7(6)The Board shall cause an actuary to value the assets and liabilities under the plan and to report on the status of the pension fund at intervals not exceeding three years.
7(7)On termination of the plan in accordance with section 6, benefits payable under the plan shall be paid out of the assets held in the pension fund and no further liability or obligation to make contributions to the pension fund shall be imposed on an employer, except as required under any applicable legislation to the extent that the employer has not previously complied with those requirements.
Termination of plan participation
8(1)If an employer adopts the plan for its employees, the employer shall not terminate its participation in the plan or withdraw from the plan.
8(2)Despite subsection (1), if a participating body amalgamates with or is annexed to another local government, the Minister may order the employer and its employees to terminate their participation in the plan.
8(3)Despite subsection (1), if a participating body is dissolved in accordance with the regulations, the Board shall distribute the funds in accordance with the regulations that dissolve the participating body and with the provisions of any applicable legislation.
PENSION COMMITTEE
Continuation and membership
9(1)The Pension Committee established by New Brunswick Regulation 81-34 under the Municipalities Act and continued by New Brunswick Regulation 2010-23 under the Municipalities Act is continued.
9(2)The committee shall consist of two representatives from each participating body.
9(3)One of the representatives referred to in subsection (2) shall be appointed by the employer and shall be designated as the “employer representative”.
9(4)One of the representatives referred to in subsection (2) shall be appointed by the employees of the participating body who are members of the plan and shall be designated as the “employee representative”.
9(5)Every employer representative and employee representative shall notify the Secretary-Treasurer of their appointment and their address.
9(6)The Chair appointed under subsection 15(5) shall be the Chair of the committee.
Meetings
10(1)The Chair of the committee shall call a meeting of the committee during the month of October, 2021, and every second year during the month of October following that meeting.
10(2)At a meeting called in accordance with subsection (1), the committee shall do the following:
(a) elect representatives from the committee to the Board as required;
(b) review the annual report of the Board; and
(c) consider matters raised by the representatives or by an interested person concerning the operation of the plan.
10(3)The Secretary-Treasurer shall be the secretary at meetings of the committee, and in the absence of the Secretary-Treasurer, the Chair of the committee shall appoint a representative to be the secretary for that meeting.
Notice of meetings
11(1)Notice of a meeting of the committee shall be in writing and shall state the time and place fixed for the meeting.
11(2)A notice of meeting shall be sent by ordinary mail, fax or e-mail to each representative who has been appointed to the committee and who has notified the Secretary-Treasurer of the representative’s appointment.
11(3)Not later than 30 days before the date of a meeting of the committee, notice of the meeting shall be sent by ordinary mail, fax or e-mail to all employers.
11(4)An employer who receives a notice of meeting shall distribute the notice to each of its employees who is a member of the plan.
Quorum
12Quorum for a meeting of the committee shall be six representatives, which shall include three employee representatives and three employer representatives.
Voting at meetings
13(1)All questions at a meeting of the committee shall be decided by a majority of the votes of the representatives present.
13(2)The Chair of the committee shall vote only in the case of a tie.
13(3)Voting by proxy shall not be permitted.
Election of Board representatives
14(1)The election of representatives to sit on the Board shall be carried out in the following manner:
(a) the first call for nominations for an employee representative and an employer representative shall only include nominations of representatives who represent participating bodies which are villages, and the election of these representatives shall be held immediately after their nominations have closed;
(b) the second call for nominations for an employee representative and an employer representative shall only include nominations of representatives who represent participating bodies which are towns, and the election of these representatives shall be held immediately after their nominations have closed;
(c) the third call for nominations for an employee representative and an employer representative shall only include nominations of representatives who represent participating bodies which are towns, villages or bodies other than local governments, unless any of the participating bodies is a city, regional municipality or a rural community, in which case nominations shall only include nominations of representatives who represent participating bodies which are cities, regional municipalities or rural communities, and the election of these representatives shall be held immediately after their nominations have closed; and
(d) if an insufficient number of representatives has been elected to satisfy the requirements of subsection 15(3), a fourth call for nominations shall be held for an employer representative or an employee representative, as the case may be, which shall include nominations of representatives from any participating body, and the election of this representative shall be held immediately after the nominations have closed.
14(2)No representative shall be elected to the Board unless the representative receives a majority of the votes cast by the appointed representatives attending the meeting.
PENSION BOARD
Continuation and membership
15(1)The Pension Board established by New Brunswick Regulation 81-34 under the Municipalities Act and continued by New Brunswick Regulation 2010-23 under the Municipalities Act is continued for the purposes of administering the plan.
15(2)The Board shall consist of the following persons:
(a) six members elected by the committee;
(b) a Chair; and
(c) a staff member from the Department of Finance and Treasury Board.
15(3)Of the members of the Board referred to in paragraph (2)(a), three shall be employer representatives and three shall be employee representatives.
15(4)The staff member from the Department of Finance and Treasury Board is a member of the Board by virtue of the person’s office and shall not be entitled to vote.
15(5)The Lieutenant-Governor in Council shall appoint the Chair of the Board and no person who is eligible to be appointed as an employer representative or an employee representative to the committee shall be eligible to be appointed Chair.
15(6)The Chair shall be appointed for a term of two years and may be reappointed.
15(7)An elected member of the Board shall be elected for a term of not longer than four years and may be re-elected.
15(8)Despite subsection (7), if the term of a member of the Board referred to in paragraph (2)(a) who is an employer representative has not expired on the coming into force of this subsection, the term of that member shall be extended by one year.
15(9)Despite subsection (7), if the term of a member of the Board referred to in paragraph (2)(a) who is an employee representative has not expired on the coming into force of this subsection, the term of that member shall be extended by one year.
15(10)An elected member shall assume office at the first meeting of the Board following the member’s election.
15(11)If an elected member becomes unwilling or unable to act or if a vacancy occurs on the Board for any other reason, the Board shall at its next regular meeting appoint an appropriate representative from a participating body to fill the vacancy.
15(12)A person appointed under subsection (11) shall serve the remainder of the term of the member whom that person replaces.
Powers and duties of Board
16(1)The Board shall have the following powers and duties:
(a) to establish the rate of credited interest on members’ contributions, subject to the applicable provisions of the plan;
(b) to appoint a person who is a Fellow of the Canadian Institute of Actuaries, or a firm that employs a Fellow, to perform actuarial duties required for the proper operation of the plan;
(c) to approve the actuarial assumptions recommended by the actuary for establishing the level of employer contributions required for the satisfactory funding of benefits granted under the plan;
(d) to approve actuarial factors to be used as the basis for calculating actuarially equivalent benefits or values granted to members under the provisions of the plan;
(e) to appoint a person or corporation to manage the plan for the purpose of maintaining member records, preparing annual statements, calculating all benefits payable to members and their beneficiaries and any other duties the Board may consider necessary;
(f) if a dispute arises between a member, a participating body and the plan manager, or any two of them, with respect to the interpretation of a provision affecting a benefit or right to which a member may be or may claim to be entitled, to decide on the interpretation of the provision giving rise to the dispute, and the decision shall be final and binding on all parties to the dispute;
(g) to give advice and make recommendations in a manner consistent with the terms of the plan regarding matters relating to the interpretation and operation of the plan which are specifically referred to the Board by a participating body or the plan manager;
(h) to appoint an insurance company, trust company or other legal entity to hold and manage the investment of the pension fund;
(i) to review the plan with the actuary at regular intervals not exceeding three years;
(j) to hold meetings for the above purposes when necessary or at the written request of the plan manager; and
(k) to prepare an annual report.
16(2)The Board may form committees to advise or assist the Board or to carry out duties prescribed by the Board, but the Board shall not sub-delegate any of the powers delegated to it under this Regulation.
Reciprocal agreements
17(1)The Board may enter into a reciprocal agreement with an approved employer that operates a superannuation plan or a pension fund or plan for its employees, which agreement shall contain the following terms:
(a) the approved employer shall pay into the pension fund under this Regulation an amount determined in accordance with the provisions of the reciprocal agreement in respect of an employee of the approved employer who becomes or is employed by an employer; and
(b) for the purpose of a superannuation plan or a pension fund or plan established for the benefit of employees of the approved employer, the Board shall pay or arrange to be paid from the pension fund under this Regulation to the approved employer an amount determined in accordance with the provisions of the reciprocal agreement in respect of an employee of an employer who becomes or is employed by the approved employer.
17(2)Despite subsection (1), the Board may enter into a reciprocal agreement with an approved employer that does not require a transfer of funds if, in the opinion of the Board, an alternative form of reciprocal agreement adequately protects the pension rights of transferring employees and results in an equitable allocation of the cost of pension benefits of transferring employees between an employer and the approved employer.
17(3)A reciprocal agreement entered into by the Board under this section shall include the following provisions:
(a) the basis of determination of the amount, if any, to be paid by the Board to the approved employer or to the Board by the approved employer;
(b) the manner in which and the extent to which prior pensionable service of a transferring employee will be credited to the employee after transfer;
(c) the conditions, if any, under which an employee may make supplementary contributions in order to receive full credit for the employee’s prior pensionable service;
(d) the disposition of contributions made by a transferring employee before the employee’s date of transfer;
(e) the conditions under which the reciprocal agreement may be amended, suspended, replaced or terminated; and
(f) any other provisions relevant to the purpose of the reciprocal agreement or necessary for the effective administration of the reciprocal agreement.
17(4)If a person ceases to be employed by an employer and becomes employed by an approved employer with whom the Board has entered into a reciprocal agreement, the Board may pay or arrange to be paid out of the pension fund to the approved employer, in accordance with the provisions of the reciprocal agreement, all or a part of the required contributions made to the pension fund in accordance with the plan by the person formerly employed by the employer.
17(5)The amount paid by the Board to an approved employer under subsection (4) shall include employer contributions and interest as the Board determines, but no payment shall be made except with the written consent of the person formerly employed by the employer.
17(6)No person employed by an employer shall be subject to the provisions of a reciprocal agreement which does not require a transfer of funds unless the person has consented in writing to be subject to the provisions.
17(7)If a person ceases to be employed by an approved employer with whom the Board has entered into a reciprocal agreement and becomes employed by an employer, the Board may receive and pay into the pension fund the amount paid by the approved employer in accordance with the provisions of the reciprocal agreement.
Head office
18The head office of the Board shall be located in The City of Fredericton or elsewhere in the Province as determined by the Board.
Annual meeting
19(1)The annual meeting of the Board shall be held during the month of October.
19(2)At the annual meeting, the Board shall do the following:
(a) review the annual report; and
(b) consider any matter raised by the members of the Board or by an interested person concerning the administration of the plan.
19(3)The annual meeting shall be held on a day to be fixed by the Chair.
19(4)Notice of the annual meeting shall be in writing and shall state the time and place fixed for the meeting.
19(5)Not later than 15 days before the date fixed for the annual meeting, notice of the annual meeting shall be delivered personally or sent by ordinary mail, fax or e-mail to each member of the Board at the member’s last known address, fax number or e-mail address.
19(6)The Secretary-Treasurer shall be the secretary at an annual meeting and, in the absence of the Secretary-Treasurer, the Chair shall appoint another member of the Board to be the secretary for that meeting.
Calling meetings
20(1)The following persons may call a meeting of the Board other than an annual meeting:
(a) the Chair or Vice-Chair;
(b) the Secretary-Treasurer with the consent of a member of the Board; or
(c) any two members of the Board.
20(2)A meeting of the Board called under subsection (1) shall be held at the time and place determined by the person who called the meeting, and the Chair shall ensure that notice of the meeting is given to the members of the Board.
20(3)The notice of meeting shall include the time and place of the meeting.
20(4)The notice of meeting shall be given orally, either in person or by telephone, or in writing by ordinary mail, fax or e-mail.
20(5)If the notice of meeting is given in writing, it shall be given not later than seven days before the date of the meeting and shall be sent to the member’s last known address, fax number or e-mail address.
20(6)If the notice of meeting is given orally, it shall be given not less than five hours before the time of the meeting.
20(7)In computing the date when notice must be given under this section, the date of giving the notice and the date of the meeting shall be excluded.
Notices of meetings generally
21(1)Notice for a meeting of the Board shall not be necessary in the following circumstances:
(a) all the members of the Board are present at the meeting; or
(b) those members of the Board who are not present at the meeting waive the requirement for notice.
21(2)A waiver under paragraph (1)(b), whether given before or after a meeting, cures any default in the giving of notice of the meeting.
21(3)Written notice of a meeting shall be sufficiently given if one of the following has been done:
(a) the notice has been delivered to the member’s last known address, fax number or e-mail address; or
(b) the notice has been deposited at a post office or in a public mailbox.
Minutes of meetings
22(1)The minutes of a meeting of the Board shall be taken by the Secretary-Treasurer or, in the Secretary-Treasurer’s absence, the Chair or Vice-Chair, who shall mail, fax or e-mail them to each member of the Board within 14 days after the date of the meeting.
22(2)The minutes of a meeting shall be approved at the next regular meeting of the Board.
Quorum
23Quorum of a meeting of the Board shall be three members and the Chair or Vice-Chair, and shall include at least one employer representative and one employee representative.
Voting at meetings
24(1)Subject to subsection (2), all questions at a meeting of the Board shall be decided by a majority of the votes of the members present.
24(2)A decision made at a meeting of the Board shall require the support of at least one employer representative and one employee representative.
24(3)The Chair shall vote only in the case of a tie.
24(4)The following shall not be permitted at a meeting of the Board:
(a) voting by proxy; and
(b) abstaining from a vote.
24(5)Despite paragraph (4)(b), a member may abstain from voting if all the other members of the Board present at the meeting consent to the abstention.
Vice-Chair
25(1)At the first regular meeting of the Board in each year following the election of a member or members, the Board shall elect a Vice-Chair from among its members.
25(2)If the Chair is absent or is unable or refuses to act, or if the office of Chair is vacant, the Vice-Chair shall perform the duties and exercise the powers of the Chair.
25(3)The Vice-Chair shall hold office until a successor is elected.
25(4)If the Chair and Vice-Chair are absent from a meeting of the Board, the members present may elect from among themselves a temporary chair to preside at the meeting.
25(5)A temporary chair elected under subsection (4) shall be deemed to be the Chair for the purpose of section 23.
Duties of Chair and Vice-Chair
26(1)The Chair has the following duties:
(a) when present, presiding at meetings of the Board; and
(b) arranging for the calling of meetings of the Board and arranging the time and place of meetings.
26(2)The Chair and the Vice-Chair shall perform the duties and exercise the powers prescribed by the Board.
Secretary-Treasurer
27(1)The Board shall appoint a Secretary-Treasurer who has the following responsibilities:
(a) serving in the dual role of secretary and treasurer of the Board;
(b) by virtue of the office, being a member of the Board who shall not be entitled to vote at meetings; and
(c) being directed by and being responsible to the Board.
27(2)If the Secretary-Treasurer is absent or unable to act, the Vice-Chair of the Board shall perform the duties of the Secretary-Treasurer.
27(3)The Secretary-Treasurer has the following duties:
(a) keeping an account of all funds of the Board;
(b) being responsible for the transfer of funds from the pension fund to the Board for payment of travel and other expenses incurred by the Board;
(c) being responsible for keeping the records of the Board and the committee, for notifying members of meetings, for recording the proceedings of the meetings of the Board and the committee and for correspondence; and
(d) performing other duties assigned to the Secretary-Treasurer by the Board.
27(4)The Secretary-Treasurer shall receive the remuneration agreed on between the Secretary-Treasurer and the Board.
Expenses and compensation
28(1)A member of the Board shall be entitled to be reimbursed by the Board for expenses incurred for attending meetings of the Board and for discharging other duties assigned to the member by the Board in accordance with the Travel Directive of the Treasury Board.
28(2)If a member of the Board incurs a loss of pay due to absence from work as a result of attending meetings of the Board or discharging other duties assigned to the member by the Board, the member shall be entitled to be compensated by the Board at a rate of $40 per day.
28(3)In accordance with subsection 7(5), any expenses reimbursed or compensation paid by the Board under this section shall be withdrawn from the pension fund.
TRANSITIONAL PROVISIONS AND REPEAL
Transitional provisions
29(1)The person who is the Chair of the Pension Board immediately before the commencement of this Regulation shall continue as Chair until the end of that person’s appointed term.
29(2)A person who is an elected member of the Pension Board or the Pension Committee immediately before the commencement of this Regulation shall continue as a member until the end of that person’s elected term.
Repeal
30New Brunswick Regulation 2010-23 under the Municipalities Act is repealed.
N.B. This Regulation is consolidated to January 6, 2021.