Special Purpose Bodies > Financial Trusts > Pension Bodies

York Employees' Pension and Benefit Fund Committee

The York Employees' Pension Plan is a financial trust.

The York Employees' Pension and Benefit Committee is a special purpose body that manages and controls the pension funds to ensure that they are administered in accordance with regulatory requirements and the bylaws of the plan.

Responsibilities
The Pension and Benefit Committee is responsible for:

• custody of the pension funds, including the investment of monies in conformity with the requirements of the Pension Benefits Act, the Income Tax Act, and regulations
• payment of pension benefits to members when entitled
• keeping proper and correct accounts of all receipts and disbursements, to the satisfaction of the Auditor of the funds

Term of office
Four years coincident with the term of Council.

Composition
The York Employees' Pension and Benefit Committee consists of 5 members:

• 2 City Councillors
• 2 retired members
• City Treasurer or designate

Meetings
The Pension and Benefit Committee meets approximately every four months.

	Canada Income Tax Act
	City Clerk's Office Secretariat (PDF)
	Ontario Pension Benefits Act