2The following definitions apply in this Regulation.
“Act” means the Municipalities Act.(Loi)
“actuarially equivalent” means of equivalent value computed by the actuary on an actuarial basis approved by the Board.(actuariellement équivalente)
“actuary” means a person or firm appointed by the Board under paragraph 17(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 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 soins du Nouveau-Brunswick Inc.;
(e)
a municipal council or a rural community council, the employees of which contribute to a superannuation plan or a pension fund or plan under the
Municipalities Act or any Act relating to the municipality or rural community; 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 16(1).(commission)
“Chair” means the Chair of the Board appointed under subsection 16(5).(président)
“committee” means the Pension Committee continued under subsection 10(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.(intérêt crédité)
“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 the insurance company, trust company or other legal entity appointed by the Board under paragraph 17(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.(membre)
“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)
(b)
a rural community; or
(c)
a board, commission or corporation that carries out a municipal or rural community 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 appointed by the Board under paragraph 17(1)(e) to assist the Board with the administration of the plan.(gestionnaire du régime)
“plan year” means the period beginning on January 1 of a year and ending on December 31 of the same year.(année du régime)
“retired member” means a member or terminated vested member who has begun receiving retirement benefits under the plan.(membre retraité)
“Secretary-Treasurer” means the Secretary-Treasurer of the Board appointed under subsection 28(1).(secrétaire-trésorier)
“terminated vested member” means a member who satisfies the following conditions:
(membre ayant droit à la retraite)
(a)
the member has terminated his or her 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 his or her retirement benefit.