FST Hearing - Board of Trustees of the I.B.E.W. Local 1687 Pension Plan

On November 10, 2006, the Board of Trustees of the I.B.E.W. Local 1687 Pension Fund (the “Applicant”) requested a hearing regarding the Notice of Proposal of the Deputy Superintendent, Pensions, dated October 13, 2006, proposing to make orders pursuant to sections 87 and 88 of the Pension Benefits Act (the “Act”), that the Administrator prepare and file new actuarial valuation reports as at December 31, 2004 and 2005 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.

On December 15, 2006, the parties advised they wish to participate in a settlement conference.  The settlement conference is scheduled for February 14, 2007.  A pre-hearing conference is also scheduled for February 19, 2007, in the event the matter does not settle.