Acts and Regulations

85-153 - Pension Board

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Revoked on 1 July 2014
NEW BRUNSWICK
REGULATION 85-153
under the
Teachers’ Pension Act
(O.C. 85-767)
Filed September 27, 1985
Under section 27 of the Teachers’ Pension Act, the Lieutenant-Governor in Council makes the following Regulation:
Repealed: 2014, c.61, s.26
1This Regulation may be cited as the Pension Board Regulation - Teachers’ Pension Act.
2In this Regulation
“Act” means the Teachers’ Pension Act;
“Pension Board” means the Pension Board appointed under subsection 23(1) of the Act.
3For the purpose of assisting the Minister in matters arising in connection with the administration of the Act, the duties of the Pension Board shall be as follows:
(a) to give advice to the Minister respecting the adoption of factors to be used as the basis of computation of actuarial equivalents;
(b) to give advice to the Minister respecting the interpretation of provisions in the Act or the computation of an amount of a benefit which a contributor is claiming or to which he may be entitled; and
(c) to make recommendations to the Minister respecting amendments to the Act.
4(1)Meetings of the Pension Board shall be held at such place and on such days and time as the chairman may determine.
4(2)A meeting of the Pension Board may be called by
(a) the chairman, or
(b) any two members of the Pension Board.
4(3)Notice of a meeting shall
(a) be given in writing by prepaid mail not fewer than fourteen days before the date on which the meeting is to be held, and
(b) include the date, time and place of the meeting.
4(4)No notice of a meeting shall be necessary if all members of the Pension Board are present or if those absent waive notice of the meeting and such waiver, whether given before or after the meeting, cures any default in the giving of the notice of the meeting.
5(1)A majority of the members of the Pension Board constitutes a quorum.
5(2)All questions at a meeting of the Pension Board at which a quorum is present shall be decided by the majority of the votes of the members present and the chairman of the meeting shall not vote except that in the event of a tie vote, the chairman of the meeting shall have a deciding vote.
5(3)The Director of Pensions shall act as chairman of the meeting when present and in the event of his absence the members of the Pension Board present at a meeting of the Pension Board shall select a member from among them to act as chairman of the meeting.
N.B. This Regulation is consolidated to July 1, 2014.