Board of Trustees of the Local 353, IBEW Pension Fund

On September 8, 2006, the Board of Trustees of the Local 353, I.B.E.W. Pension Fund (the “Applicant”) requested a hearing regarding the Notice of Proposal of the Deputy Superintendent, Pensions, dated August 10, 2006 proposing to make an order pursuant to section 88 of the Pension Benefits Act (the “Act”), that the Administrator prepare and file new actuarial reports as at December 31, 2002, 2003 and 2004 in respect of the Plan, which specifically includes either,

(1) the results of such tests performed on both a going concern and solvency basis as will demonstrate the sufficiency of the contributions required by the collective agreement or agreements to provide for benefits set out in the Plan without consideration of any provision for reduction of benefits set out in the Plan; or

(2) where the contributions are not sufficient to provide the benefits under the Plan as determined on both a going concern and solvency basis, a proposal by the actuary of options available to the administrator of the Plan that will have the result that the required contributions will be sufficient to provide the benefits under the Plan on both a going concern and solvency basis.

A pre-hearing conference is scheduled for December 15, 2006.

Updated to October 6, 2006

At the pre-hearing conference on December 15, 2006, a settlement conference was scheduled for February 9, 2007, and a further pre-hearing conference was scheduled for February 19, 2007, in the event the matter does not settle.

Updated to January 10, 2007

At the settlement conference on February 9, 2007, the settlement conference was adjourned to resume on August 8, 2007 and the pre-hearing conference for February 19, 2007 was put on hold.

Updated to February 16, 2007

On August 7, 2007, the parties advised the Tribunal that they are close to reaching a settlement and requested that the settlement conference scheduled for August 8, 2007, be cancelled.  The Tribunal cancelled the settlement conference and rescheduled a pre-hearing conference for September 14, 2007 in the event the matter does not settle, and to permit time for the parties to finalize minutes of settlement.

Updated to August 20, 2007

On September 10, 2007 the Superintendent advised the Tribunal that the matter was settled and withdrew its Notice of Proposal.  On September 11, 2007 the Applicant withdrew the Request for Hearing. The Tribunal cancelled the pre-hearing conference scheduled for September 14, 2007, and closed its file.

Updated to September 18, 2007

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