PROVINCE OF BRITISH COLUMBIA Nineteenth Annual Report of the Business Done in Pursuance of the MUNICIPAL SUPERANNUATION ACT for the YEAR ENDED MARCH 31st 1958 Printed by Don McDiarmid, Printer to the Queen's Most Excellent Majesty in right of the Province of British Columbia. 1959 To His Honour Frank Mackenzie Ross, C.M.G., M.C., Lieutenant-Governor of the Province of British Columbia. May it please Your Honour: The undersigned respectfully submits the Report of the business done in pursuance of the "Municipal Superannuation Act" during the fiscal year ended March 31st, 1958. Provincial Secretary's Office, Victoria, B.C., January 27th, 1959. WESLEY D. BLACK, Provincial Secretary. The Honourable Wesley D. Black, Provincial Secretary, Victoria, B.C. Sir,—I have the honour to lay before you the Report of the business done in pursuance of the " Municipal Superannuation Act" during the fiscal year ended March 31st, 1958. I have the honour to be, Sir, Your obedient servant, W. H. FORREST, Superannuation Commissioner. January 26th, 1959. Municipal Superannuation Report, 1957/58 REPORT OF THE BUSINESS DONE IN PURSUANCE OF THE "MUNICIPAL SUPERANNUATION ACT " DURING THE FISCAL YEAR ENDED MARCH 31st, 1958. Section 3.—The following employers adopted the Act during the year pursuant to the provisions of clause (b) oi this section effective from dates shown:— Employer Effective Date City of White Rock April 15th, 1957 District of Kent April 1st, 1957 Section 4.—Superannuation-allowance payments pursuant to this section amounted to $95,745.48. As at March 31st, 1958, there were 288 persons in receipt of an allowance under this section. Section 5.—A statement of all moneys received and paid out under the provisions of this Act, and the assets and liabilities appertaining to the granting of superannuation allowances under its provisions, is given in the statements of revenue and expenditure and the balance-sheets appended hereto. Section 6.—Regular employee contributions amounted to $2,011,916.11, and employee contributions made under Over-age Agreements amounted to $222,379.53. As at March 31st, 1958, there were 8,054 regular contributors and 1,139 contributors under Over-age Agreements. Section 8.—Regular employer contributions amounted to $1,918,074.12, and employer contributions made under Over-age Agreements amounted to $272,989.47. Extra employer contributions totalling $36,629.57, being one-half of 1 per cent of salaries for firemen and policemen in Vancouver and Victoria, were made pursuant to Special Agreements under subsection (6). Ultimately these contributions will be transferred to the Retirement Annuity Account to provide additional benefits in accordance with the Special Agreements. Section 10.—The net requirements in the case of each employer were ascertained in the manner prescribed by this section. Certificates of loan were issued in the amount of $2,851.52, in accordance with the provisions of subsection (4) (c) of this section. Outstanding certificates of loan were reduced by the amount of $116,135.90, in accordance with the provisions of subsection (6) of this section. Section 14.—Superannuation allowances were granted to sixty-four contributors who attained retirement age. For analysis, see statements of comparative statistics appended hereto. As provided in subsection (2) (b), the Commissioner, with the approval of the Provincial Secretary, during the year entered into agreements with four employers under the Act, whereby the Act was made to apply to a total of thirty-eight employees who entered their service after the maximum eligible age of regular contributors. Section 19.—No superannuation allowances were granted during the year under the total and permanent disability provisions. Section 20.—Superannuation allowances were granted to the dependent in the case of nine contributors who died while still in service. Refunds amounting to $941 and $3,703.84 respectively were made in the case of two regular contributors and five overage contributors who died while still in service. V 6 BRITISH COLUMBIA Section 23.—Refunds amounting to $333,454.38 and $16,583.28 respectively were made in the case of 800 regular contributors and forty-six over-age contributors who left the service of their employers. Section 28.—Administration expenses amounting to $32,519.42 were paid into the Consolidated Revenue Fund of the Province by the various employers under the Act in accordance with the provisions of this section. The total expenses of the Superannuation Branch are distributed among the various funds administered on the basis of the number of contributors and pensioners. This annual unit amounted to approximately $3.45 for 1952/53, $3.30 for 1953/54, $3.20 for 1954/55, $3 for 1955/56, $2.83 for 1956/57, and $2.94 for 1957/58. Section 33.—The securities held by the Trustees on March 31st, 1958, are set out in Schedules No. 3 and No. 9 of this Report. During the year $10,679,000 par-value bonds were purchased, the average yield being 4.55 per cent; $4,834,000 par-value bonds were sold at an average yield of 3.80 per cent; and $1,759,800 par-value bonds matured, resulting in a net increase of $4,085,200 par-value bonds held by the Trustees between March 31st, 1957, and March 31st, 1958. Prices paid for securities bought or sold are determined by market conditions at the time of transfer. Every effort is made to invest the funds as soon as they become available and at the maximum yield possible at the time of purchase. Section 38.—An actuarial valuation as at March 31st, 1957, was made and was used as the basis for a complete revision of the plan. A new " Municipal Superannuation Act" was passed during the 1958 Session of the Legislature, revising the benefit and contribution basis and amalgamating the Municipal Superannuation Fund (Over-age Agreements) with the main Fund, with effect from April 1st, 1958. W. H. FORREST, Commissioner of Municipal Superannuation. MUNICIPAL SUPERANNUATION REPORT, 1957/58 MUNICIPAL SUPERANNUATION FUND Statement of Revenue and Expenditure for the Fiscal Year Ended March 31st, 1958 V 7 REVENUE Contributions as per requirements of the " Municipal Superannuation Act "•— Employees, section 6 Employers, section 8— Account "A" (Schedule No. 1) $919,174.73 Account " B " (Schedule No. 2)_ 998,899.39 $2,011,916.11 Special Agreement bonus contributions.. 36,384.15 Transferred from Over-age Agreement Account pursuant to section 5 (5) of the Agreement in respect of two allowances granted during year Interest on investments and bank interest 1,954,458.27 12,006.36 1,114,164.05 $5,092,544.79 EXPENDITURE Superannuation allowances— Paid from Employers' Service Pension Account "A"— Allowances pursuant to section 4 $95,745.48 Service Pensions Account "A" 779,660.56 Paid from Employers' Service Pension Account " B "_. Paid from Employees' Retirement Annuity Account Refunds— Section 6 (5) Section 20 .... Section 23 . $875,406.04 8,348.14 321,832.21 $1,205,586.39 $1,359.86 941.00 333,454.38 Administration expense, sections 27 and 28. Net increase of ledger assets 335,755.24 4,350.00 1,545,691.63 $3,546,853.16 V 8 BRITISH COLUMBIA MUNICIPAL SUPERANNUATION FUND .,.. : Balance-sheet as at March 31st, 1958 ASSETS Trustees' General Account Account Total Cash in bank $10,018.23 $64,154.97 $74,173.20 Accounts receivable—contributions due from municipali- ■ ties, hospitals, school districts, etc — ...- 342,159.10 342,159.10 Investments at cost or par — net after amortization of premiums and discounts (see Schedule No. 3) 29,218,410.74 29,218,410.74 (Par value, $29,584,700; market value, $27,874,369.) British Columbia Government certificates of loan 2,696,660.97 2,696,660.97 Accrued interest on investments .-. 260,903.47 260,903.47 $32,185,993.41 $406,314.07 $32,592,307.48 LIABILITIES Employees' Retirement Annuity Account $16,341,661.98 Employer Service Pension Accounts— Account "A" (see Schedule No. 1) $7,682,863.97 Account " B " 8,456,896.64 16,139,760.61 Vancouver Agreement Bonus Account for Firemen and Policemen 93,877.27 Victoria Agreement Bonus Account for Policemen 10,610.24 Victoria Agreement Bonus Account for Firemen 2,882.28 Sundry accounts payable 3,515.10 $32,592,307.48 Approved. W. H. FORREST, Superannuation Commissioner. G. S. SOUTAR, Accountant. COMPTROLLER-GENERAL'S CERTIFICATE I certify that the accounts of the Municipal Superannuation Fund for the year ended March 31st, 1958, have been examined under my direction. The liabilities in respect of Employees' Retirement Annuity Account and Employers' Service Pension Accounts are stated at book value. Under the terms of section 38 (1) of the "Municipal Superannuation Act," chapter 320, R.S.B.C. 1948, an actuarial valuation was made as at March 31st, 1957. This valuation showed an actuarial surplus in both Employers' Service Pension Account " B " and Employees' Retirement Annuity Account. Subject to the foregoing remarks, I certify that the above balance-sheet is, in my opinion, properly drawn up so as to exhibit a true and correct statement of the affairs of the Fund according to the best of my information and the explanations given to me and as shown by the books of the Fund. C. J. FERBER, C.A., Comptroller-General, Province of British Columbia. Victoria, B.C., January 23rd, 1959. MUNICIPAL SUPERANNUATION REPORT, 1957/58 V 9 00 <*. -5. K B <n O Z W P I 5 1/3 z o U u < z o cn J?" Z § « s P-i o w H C/_ ^ _P tt. a *>■< co Ow . w c K SMS lis o rt 0 S s IS U BE e co ins* aj" es* Tt ! 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CN « %) 6S- cn m t/3 ^ I* <S < (fl 1 CO 1 E U is CQ : ! 1 1 1 j j • 1 «n tt. a j j 1 i i j 1 "^ ! ro a 00 rt 2 "rt L. Q i X | &a T3 rt a o TJ « o ffi "J l> « 1 i lH ol c s. 5 'S ' o S t- rt k" o L) w S _<? c O | T« a pa o 00 1 _. <U 3 M o rt u a a F rt >> £ -8 « u rt C S EB « 0 % ii bi s\i . •y : ro « ! en V Tt j .5 o o > K « r S c OH - c a. a. > B re 1" |8 I- p £ X X tH 1) > P o ^ y t d c M __" •g S o - SS°. c •__£z vo ^ c c Z o z •o § o CO o 2GII1 > < It bJZ >i m n u » ^ ?h " Ts. O _C (H H fl_ [Z to « ospitals- Royal J Vancou :hool Di Burnab: Campb. Castlegi Chilliwi Cowich; Creston § rt^ o O O rt-J.g S.h o s E m\\ rt ft = V) CO V I ■_ i c E3 i> <U JJ 4 t cr ' 5 X CO MUNICIPAL SUPERANNUATION REPORT, 1957/58 V 11 r- Tt NO CO CS r- CO 00 O CS o^ i— "*. ! i co in rn on j : in p r^ r^ o\ cs ON ** NO Tt i-H NO* . ! 0O ND od ro i-- in ©■ CO ! ro co ro oo l l co oo £ co r~ r- NO CS | © i— © in I I r\ cs p i-H_r^t- vq m" i rH OS OS m ' ! ro t- Tt* NO* vo" 6ft- | j -N i 1 NO NO On vq ! ! cs w Tt : I r- , , CN NO 00 | oo CO CN 1 1 ON | | vd CN NO i On oo ON 6ft 1 Tt j ; | iO' OO CN i 6ft Tt NO CO in NO ON ON ON inTtTtr-ONNDi-HcocN !©m r-4 rn in in co co © in f; oor-oooor-;incNoor-; 'CJvq ON r* rn so cs m" d cs vd covdOodOvdcoodro 1 r* On od _. rn (N © r- ro Tt ND ON r-i-HNocsmoocNcoON ! r- r- I> <u m oo os Tt vo oo CO © ©i—ooinTtONinooi—i !o\ O m u 00* S Tt © £ co H^-nnin ON CS ©COVD--H CN ON m Tf ! CN rH 6ft rH rH i-H CO CS CN m P3 i-h 64 w Tt l (N coco ! NO vo 1,168.08 Net Cred $4,957 j CO CO NO NO VO . CS NO ON r~ t-" cs r- Tt NO m j Tt © Tt i **o\ r- t-T j ■"" cs m CO i 6ft oo : © icsnocono :mocN : i roc- i Tf r- co l Tt 5 : On r- rn m co Tt cS On j NO CN Tf O0 Tt ■ © VD 1 ON NO VO F-* rH no © in ! od © os tn © NO o © Tt t- m r- as oo i co ro Tt © r- © ro 1 \C 1-H T-H CO On 1— co j CS NO © ro no Tt cs tn s-< so i-h On in" 6ft j w co tft- roooocco^co©.—icor-ccmi-HNDcoCmmONi-Hinvor-i-H TtTtcxjOvvqcspqrMi-HCNcopNOvq^t-HNOi^TtcoONTtoo CN co r^ in t^' d Tt r^ on no Tt in od no vd co' © © Tt" r~ Tt on no" cs Tt Tt TtCONOI>00Tti-H©ON©C0Ttln©ONONl-HrHi--O0ONl-HCOCN 00 CS CO CN l> © rH cO r- CO -H i-H CO HrtH(N^H Tf ** ^h" rHTt" CN CO 00 cs 6ft : ON : VO ! ON i | ! in i *1 i ** i i ©voooNOTtTtcooocooN©©Ttvo©cN©m©cocoNO©in ONincooNTtNDr-0\ooTtNOcsooinpONp^ocsro©cnpr-; CO r- r^©Ttr^oo©ooc»'-HTfONt^inON©Tt©©coi>r^-ONON(N TtO©NOOOoo©©cs©NOmrorscsmrocNOONroin©NO Tf t> oo©rHir.voc^or^Tt\oco©oocsooocoin(N(Nt*-©^Ol> ** rH CO* CN CN* rt rn" CN —" Tt* CO* i-h' *H On" m i-h ON 64 Tt oo m r- co r-> oo os rn ONini-HpNqooppr-; CN O CS rH od in vd r-" rH co' od i>di>co'doNco'r'Nd no oo Tt oo i— rocom© NO CN in" ro to co co © cs tn i-h © ON m w t— r- t> oo Tt cs o^ vo rNr-ooOi-HNONorors Os CN l-H CJ o*So on ,52 on rn i-h .-h i-h on m vo CI cocsroo oocoTtTt CN 64 rH CS © CS as a ^ Tt P3 m 6ft j_, rH Tt ON CO i _^ l __ 97.34 | :t Cred $4,63C Tt CO Tj- p rn cn r- vd ro 00 © 1-H —1 rs © (N 1— P ro a\ « (NP~ r-" in* as A 6ft —I CS m 6ft . T] . ' c Tf T~' T] TI d V 6 c fN Z :, No. A No. 27_ TJ O «* £2 -h" 1- <_) (L J r- tr Tt • c 0 •? f*" r o CN d g rt M a vd m c z c C C £ 1 _. . E § . c S ,1 5 cr I t ' <L 5 v * E J 5 ' r c •_2 I si 1 I ( < 2 ! E. B > t c 2 1 _ c 3 2 ( £ — a . a. 1 0, c c "C p. - C 2 '-c c E g s t£ C 5 2 E i 1 j P -c SC Z ! a : i : c 1 c )» e 1 c i •J : ) < 1 V 5 r- > 4 c 2 _ 1 1 f- C 2 1 ; c > 2 ' i c i a •C 1 0 r . r "1 i a 5 1 i > 5 1 1 > 4. ( s . M J 1 E is tyre C h O Tt vo r- rH ON CN d ON NO c^vq oo"no CS On 64 NO « 5S _ ^.O ^ 5 c *J *« .9 M fi« Ii d" w d w rt •d « Q SorfC SB'S0 « E g a g S s SJ II 3 o H V 12 BRITISH COLUMBIA SCHEDULE No. 2 Service Pension Account " B " Contributions by Employer for Year Ended March 31st, 1958 City of— Chilliwack ... Courtenay ... Cranbrook _ Duncan Enderby Fernie Grand Forks Kamloops ... Kelowna Kimberley .... Langley Merritt Nanaimo Nelson New Westminster _. North Vancouver .. Penticton Port Alberni Port Coquitlam _._... Port Moody ... Prince Rupert Revelstoke Rossland Salmon Arm Trail Vancouver Vernon L_ Victoria _■— White Rock District or Village of- Burnaby Central Saanich Chilliwhack Coldstream ... Creston Esquimalt ... Glenmore Hope — Langley Maple Ridge Town of Mission City _______ North Cowichan — North Kamloops North Shore Union Board of Health — North Vancouver ,_'. Oak Bay Powell River Quesnel Richmond $543.46 270.60 3,796.51 1,768.44 336.12 1,277.15 191.52 4,433.78 6,298.60 2,012.44 217.20 278.40 7,470.17 10,117.37 29,569.55 15,569.36 8,314.17 1,162.90 1,304.84 1,099.00 3,933.77 2,355.85 260.07 764.04 8,023.69 422,876.22 7,242.25 58,391.18 426.97 43,682.76 292.32 784.87 259.67 376.08 5,750.51 402.48 402.47 3,170.12 373.92 704.66 2,081.90 119.21 998.12 22,644.29 10,228.72 535.01 552.86 8,164.22 District or Village of—Continued Saanich Salmon Arm Summerland Surrey Warfield . West Vancouver ... Greater Vancouver Water District 1 Greater Vancouver Sewerage and Drainage Board Greater Victoria Water District University Endowment Lands Hospitals—■ Royal lubilee Vancouver General School District of— Burnaby, No. 41 Campbell River, No. 72 __._..___... Castlegar, No. 9 Chilliwack, No. 33 ....... Creston, No. 5 Fernie, No. 1 Greater Victoria, No. 61 Howe Sound, No. 48 , Kamloops, No. 24 . Kimberley, No. 3 , Kitimat, No. 80 Mission, No. 75 Nelson, No. 7 ..... New Westminster, No. 40 North Vancouver, No. 44 Penticton, No. 15 Powell River, No. 47 Prince Rupert, No. 52 Princeton, No. 17 . ..... Richmond, No. 38 Saanich, No. 63 Salmon Arm, No. 20 Slocan, No. 8 __ ,....._. Sooke, No. 62 Southern Okanagan, No. 14 ...:.. Terrace. No. 53 Trail, No. 11 Vancouver, No. 39 Vanderhoof, No. 56 i Vernon, No. 22 ____._ West Vancouver, No. 45 Williams Lake, No. 27 .... £19,968.42 198.12 17.06 9,219.23 192.12 14,781.17 14,389.18 6,661.03 2,175.48 3,853.94 21,651.53 111,108.49 9,669.71 714.72 285.36 389.04 1,070.60 948.30 11,097.83 427.65 612.78 398.69 1,524.66 536.75 1,926.23 2,626.08 2,936.98 630.95 669.59 334.80 184.80 4,102.11 166.52 1,671.49 171.00 177.96 822.85 54.30 2,400.32 42,527.92 245.82 1,443.51 1,735.20 349.29 $998,899.39 MUNICIPAL SUPERANNUATION REPORT, 1957/58 SCHEDULE No. 3 Trustees of the Municipal Superannuation Fund and the Minister of Finance for the Province of British Columbia Securities Held as at March 31st, 1958 V 13 Description Date of Maturity Par Value Book Value Government of Canada— 3% bonds 3% bonds ... ...... June 1, 1960 February 1, 1962. February 1, 1974 February 1, 1981.... .,,'.' October 15, 1962 October 15, 1963 October 15, 1966 June 15, 1968 June 15, 1968.... July 2, 1968 $18,000.00 490,000.00 700,000.00 1,200,000.00 200,000.00 50,000.00 35,000.00 153,000.00 415,500.00 200,000.00 711,000.00 950,000.00 1,340,000.00 250,000.00 75,000.00 225,000.00 325,000.00 724,500.00 520,000.00 969,000.00 235,000.00 194,000.00 658.000.00 1,900,000.00 745,000.00 1,000.00 6,000.00 1,000.00 3,000.00 3,000.00 1,000.00 11,000.00 5,000.00 1,000.00 133,000.00 50.000.00 142,000.00 196,000.00 127,000.00 110,000.00 133,000.00 40,500.00 86,000.00 190,000.00 195,000.00 542,000.00 150,000.00 $17,365.63 483,924.75 Guaranteed by Government of Canada— Canadian National Railway Company— 3%% bonds ;. 730,845.40 4% bonds Province of British Columbia— 2%% bonds 2%% bonds - - 2%% bonds 1,174,509.10 197,644.92 49,369.52 34,584.86 2%% bonds _ .. . 150,137.80 3% bonds .. 411,670.04 199,241.15 3% bonds..... ... .. December 15, 1969 July 31, 1970 August 10, 1970 706,135.24 945,738.02 1,333,975.01 2?4% bonds 2%% bonds . October 1, 1971 September 26, 1972 250,000.00 75.000.00 3% bonds .. February 1, 1974... October 1, 1967 _ November 1, 1968 220,723.17 Guaranteed by Province of British Columbia— British Columbia Power Commission— 3% bonds „. } 3% bonds 3>/4% bonds 324,056.29 717,616.58 July 4, 1975 September 15, 1991 May 21, 1992 June 15, 1992 September 15, 1992 September 15, 1992 December 15, 1987 516.632.88 3%% bonds . 969,000.00 4% bonds 235.000.00 194.000.00 4% bonds - 5% bonds.... ;. :. 658,000.00 1,825,265.32 Pacific Great Eastern Railway Company— 4%% bonds 734,827.99 Vancouver and Districts Joint Sewerage and Drainage Board— May 1, 1959 May 1, 1960 1,007.12 6,004.67 May 1, 1962 1,001.42 September 1, 1962 September 1, 1962 October 1, 1962 May 1, 1963 3.131.49 5Va% bonds 3,082.27 1,001.21 11.033.49 4'/2% bonds .. ... September 1,1965 ... 5,298.86 41/.% hnnrls School District No. 2 (Cranbrook)— 3%% bonds •• September 1, 1970. August 1, 1958-76.... May 1, 1966-75 ..- August 1, 1958-76....- 1,089.93 127,383.41 School District No. 3 (Kimberley) — Wa% bonds 50,000.00 3%% bonds 136,003.34 School District No. 4 (Windermere)— 4?4% bonds —.. April 15, 1958-77.. July 15, 1970-71... May 1, 1966-75 191,982.00 School District No. 7 (Nelson)— 4%% bonds . School District No. 9 (Castlegar)— 3V4% bonds ■ .,.._■. • . School District No. 13 (Kettle Valley)— 3%% bonds 127,000.00 110,000.00 127,383.41 40,500.00 84,203.46 181,976.30 School District No. 18 (Golden) — 4Vi% bonds School District No. 19 (Revelstoke) — 4V_% bonds ._ .... July 15, 1970-73 December 15, 1963-77..... August 1, 1958-76 School District No. 20 (Salmon Arm).— 3%% bonds... School District No. 21 (Armstrong-Spallumcheen)— 4V> % bonds , . , July 15, 1959-73 April 15, 1958-77.. October 15, 1960-74 195,000.00 530,889.00 147,764.23 School District No. 22 (Vernon) — 4%% bonds... _. _ School District No. 24 (Kamloops)— 3 >A% bonds..... .... .. .. V 14 BRITISH COLUMBIA SCHEDULE No. 3—Continued Trustees of the Municipal Superannuation Fund and the Minister of Finance for the Province of British Columbia—Continued Securities Held as at March 31st, 1958—Continued Description Date of Maturity Par Value Book Value Guaranteed by Province of British Columbia—Continued School District No. 25 (Barriere) — 4%% honds ..... '"'' April 15, 1958-77 December 15, 1963-77 April 15, 1958-77 July 15, 1959-73 .. $155,000.00 75,000.00 541.000.00 360,000.00 209,000.00 551,000.00 375,000.00 25,000.00 380,000.00 135,000.00 5,000.00 5,000.00 125,000.00 2,809,000.00 345,000.00 164,000.00 250,000.00 170,000.00 150,000.00 265,000.00 390,000.00 133,000.00 52,000.00 252,000.00 250.000.00 450,000.00 132,000.00 95,000.00 189.000.00 300,000.00 195.000.00 52,000.00 200.000.00 169,500.00 240,000.00 192,000.00 375,000.00 19,500.00 30,000.00 $151,822.50 School District No. 4'/2 % bonds... 27 (Williams Lake) — 73,433.25 School District No. 4M% bonds.... 28 (Quesnel)— 529 909.50 360.000.00 School District No. 31 (Merritt) — 33/4 <_. honds . ... 1 _.__ August 1, 1958-76... August 1, 1958-76 October 15, 1960-74 September 15, 1961 October 15, 1960-74 December 15, 1973-77 August 1, 1960 August 1, 1965 August 1, 1966-70 February 1, 1959-74 May 1, 1958-65 September 1, 1959-71 May 1,1966-75 .. 200,173.93 School District No. 3?4% bonds 33 (Chilliwack)— 527,731.27 School District No. 3<A% bonds.._ 34 (Abbotsford)— 369,410.57 School District No 3Vi% bonds.. 36 (Surrey) — 23,257.50 School District No. 31/4% bonds ... 38 (Richrtiond)— 374,336.81 4'/4% bonds 1 130,963.50 School District No. 39 (Vancouver)— 4Vt% bonds 1. ._ 5 000.00 5000.00 125 000 00 2,809,000.00 School District No _W% honds 41 (Burndby)— 345,000.00 School District No. 42 (Maple Ridge)— 41/. % bonds ; School District No. 43 (Coquitlam)— 31/_<X, h.,nrk 164,000.00 250 000 00 3V4% bonds September 15, 1966-75... December 15, 1973-77 April 15, 1958-77 August 1, 1959-73 August 1, 1958-76 April 15, 1958-77...... February 1,1960-74 May 1,1966-75 ..... September 15, 1966-75 October 15, 1959-73 October 15, 1960-74 May 1, 1967-75. 169,014.00 School District No 44 (North Vancouver)— 145,515.00 School District No 46 (Sechelt)— 259 567.50 School District No 53 (Terrace) — 390,000.00 School District No 33/4% bonds- 55 (Burns Lake)— 127,383.41 School District No 43/4% bonds.... 57 (Prince George)— 50,934.00 School District No. 60 (Peace River North)— 252,000.00 School District No. 61 (Greater Victoria)— 3 V4% bonds '■- 250.000.00 3'/4% bonds 447,390.00 School District No. 62 (Sooke)— 132,000.00 School District No. 67 (Ladysmith)— 31/_ Cfr. hnnrts 93,575.41 School District No 68 (Nanaimo) — 189 000.00 3'/4%bonds June 1, 1960-74 June 1, 1960-74 296,275.51 School District No. 69 (Qualicum) — 3'/.% bonds - 192.579.08 3V4% bonds .. ; October 15, 1960-74 May 1, 1966-75 51,220.58 School District No. 71 (Courtenay)— 31/_% hnnrts ... | 200000.00 AIAO/„ hnnrts August 15, 1959-71 169,500.00 School District No. 72 (Campbell River)— October 1,1960-69 | 240,000.00 School District No 74 (Quatsino)— February 1,1960-74 December 15, 1963-77 September 1, 1958-63 September 1, 1959-68 192,000.00 School District No 80 (Kitimit)— 367,166.25 Village of Burns Lake— 18.154.50 Village of Campbell River— 29,613.40 MUNICIPAL SUPERANNUATION REPORT, 1957/58 V 15 SCHEDULE No. 3—Continued Trustees of the Municipal Superannuation Fund and the Minister of Finance for the Province of British Columbia—Continued Securities Held as at March 31st, 1958—Continued Description Date of Maturity Par Value Book Value Guaranteed by Province of British Columbia—Continued Village of Castlegar— 43/4% bonds, _ September 15, 1960-77 $106,000.00 $101,060.40 Village of Comox— 3Y2% bonds January 15, 1961-65 42,000.00 42,000.00 Village of Creston— 4% bonds „ ,„ July 1, 1958-76 63,000.00 57,960.00 Village of Dawson Creek— 4% bonds July 2, 1962-76 221,000.00 203,960.90 Village of Fort St. John— 4Vi% bonds... March 1, 1959-73 119,000.00 119,000.00 September 1, 1962-76 46,500.00 42,817.20 Village of Invermere— 4V4% bonds... September 30,1963-72 42,500.00 42,500.00 Village of Quesnel— 4Yz % bonds May 1, 1958-77 550,000.00 517,000.00 July 15,1973-78 25,000.00 24,902.01 Village of Sidney— 33A% bonds— July 1, 1959-74 165,000.00 165,000.00 Village of Smithers— 4% bonds August 1, 1958-76 233,000.00 213,963.90 Castlegar Hospital Improvement District No. 3— 5% bonds... May 1, 1958-77 215,000.00 213,925.00 Bluebird Bay Waterworks District— 4Vi% bonds July 1, 1958-82 54,000.00 50,630.40 Brentwood Waterworks District— 4V4% bonds..- , June 1, 1958-77 17,000.00 15,937.50 Duhamel Creek Waterworks District— 4% bonds . October 1, 1958-81 24,700.00 22,168.25 Northfield Fire Protection District— 4'/i% bonds _ March 1, 1959-82 39,500.00 37 035 ^0 ParksviUe East Waterworks District— 4V_% bonds . March 1, 1959 82 34,500.00 32,347.20 Petroglyph Waterworks District— 4% bonds June 15, 1958-76 44,500.00 39,938.75 Willow Point Waterworks District— 4!/_.% bonds...... April 1, 1958 77 80,000.00 75,008.00 Province of Manitoba— 3% bonds June 15, 1964 833,000.00 229,000.00 3% bonds... _ February 15, 1967.. Ontario Hydro Electric Commission— 105,000.00 76,000.00 106,811.32 January 15, 1967 Totals $29,584,700.00 $29,218,410.74 V 16 BRITISH COLUMBIA SCHEDULE No. 4 s j :; Municipal Superannuation Fund Comparative Statistics, April 1st, 1939, to March 31st, 1958 Number of Contributors Contributions Withdrawals Allowances Fiscal Year Employer Employees Number Amount Refunded Number Granted during Year Deaths and Expirations during Year Number in Force at End of Year Amount Paid 1939/40 $940/41 1941/42. 1942/43 1943/44 1944/45 .. 1945/46 1946/47 1947/48 1948/49 1949/50. 1950/51 1951/52 3,515 3,502 3,460 3,295 3,340 3,416 3,949 4,209 4,707 5,352 5,866 6,246 6,308 6,414 6,756 7,206 7,438 7,537 8,054 $376,213.96 385,310.30 403,590.01 398,961.01 411,337.12 431,251.30 505,050.16 579,347.60 693,553.87 895,590.07 1,062,852.82 1,186,109.17 1,294,156.71 1,428,109.03 1,660,960.41 1,756,555.37 1,796,578.89 1,834,553.99 1,954,458.27 $273,204.70 279,081.09 277,946.17 267,876.88 278,996.62 298,036.94 351,672.80 403,783.92 474,499.19 574,025.89 682,245.56 887,790.33 1,007,976.39 1,142,396.93 1,405,294.40 1,527,399.79 1,647,357.74 1,742,724.50 2,011,916.11 71 99 128 191 125 116 314 415 499 441 458 662 786 740 708 748 893 1,093 802 $42,575.46 38,666.49 46,504.88 68,582.55 45,792.56 53,755.08 74,102.47 79,892.69 99,412.03 88,140.76 75,505.30 129,164.91 197,308.22 213,204.00 210,664.96 245,905.28 337,027.58 452,178.25 335,755.24 78 99 116 193 120 130 215 171 149 134 115 130 88 103 91 103 101 94 73 36 36 34 53 44 46 51 48 42 42 65 68 80 76 74 96 83 92 92 973 1,036 1,118 1,258 1,334 1,418 1,582 1,705 1,812 1,904 1,954 2,016 2,024 2,051 2,068 . 2,075 2,093 2,095 2,076 $329,309.38 339,671.98 369,231.07 408,424.19 460,091.94 492,423.87 551,639.04 628,619.36 702,630.14 767,067.05 827,006.67 918,709.14 954,168.05 1952/53 1953/54 1954/55 1955/56 1956/57 1957/58 976,483.93 1,137,286.29 1,160,791.16 1,185,087.95 1,213,543.98 1,205,586.39 Totals— i |$19,054,540.06 $15,534,225.95 |$2,834,138.71 1 1 ■- |—. $14,627,771.58 MUNICIPAL SUPERANNUATION REPORT, 1957/58 V 17 SCHEDULE No. 5 Municipal Superannuation Fund Comparative Statistics, April 1st, 1945, to March 31st, 1958, Subdivided according to Sex of Contributor Fiscal Year Number of Contributors Male | Female Number of Refunds Granted Male | Female Allowances Number of Allowances Granted Male I Female Number of Deaths and Expirations Male | Female Number of Allowances in Force at End of Year Male j Female 1945/46— Maximum Maximum 1946/47— Maximum Maximum 1947/48— Maximum Maximum 1948/49— Maximum Maximum 1949/50— Maximum Maximum 1950/51— Maximum Maximum 1951/52— Maximum Maximum 1952/53— Maximum Maximum 1953/54— Maximum Maximum 1954/55— Maximum Maximum 1955/56— Maximum Maximum 1956/57— Maximum Maximum 1957/58— Maximum Maximum retirement retirement retirement retirement retirement retirement retirement retirement retirement retirement retirement retirement retirement retirement retirement retirement retirement retirement retirement retirement retirement retirement retirement retirement retirement retirement age 65... age 60— age 65.. age 60... age 65... age 60... age 65... age 60... age 65... age 60— age 65— age 60... age 65 ___ age 60— age 65— age 60... age 65... age 60— age 65... age 60... age 65... age 60... age 65— age 60— age 65... age 60_ 1,987 1,089 2,184 1,156 2,427 1,343 2,762 1,419 3,066 1,509 | 3,105 1,637 3,116 1,653 3,190 1,667 3,376 1,711 3,689 1,738 3,834 1,787 4,020 1,840 4,249 1,892 873 869 937 1,171 1,291 1,504 1,539 1,557 1,669 1,779 1,817 1,677 1,913 87 55 142 56 195 50 159 37 140 29 266 28 300 77 223 69 233 44 193 46 315 56 401 50 247 43 172 217 254 245 289 368 409 448 431 509 522 642 512 129 41 110 38 108 31 98 27 81 26 86 29 63 15 69 24 62 17 63 26 60 25 51 25 40 23 45 2! 10 9 8 15 10 10 12 14 16 18 10 40 10 37 7 36 3 38 3 49 14 56 6 62 14 63 6 57 16 79 12 60 14 69 13 70 16 10 1,143 323 1,216 354 1,288 382 1,348 406 1,380 418 1,410 441 1,411 442 1,417 460 1,422 461 1,406 475 1,421 474 1,403 486 1,372 493 116 135 142 130 156 165 174 185 194 198 206 211 V 18 BRITISH COLUMBIA SCHEDULE No. 6 Municipal Superannuation Fund Comparative Statistics, April 1st, 1947, to March 31st, 1958—Allowances Granted and in Force, Subdivided by Type and Plan of Allowance In Force at Beginning of Year Granted during Year Expired during Year In Force at End of Year Fiscal Year 3 u "5. c 53 ■a u u e a rt O 3 g "3 -a u S •3 o s ri a < d E 0 H 3 •a o u c rt rt 3 0 o 3 O ■a o i < d E 0) f- .2. 3 c Guaranteed1 s •a ■6 o < d £ H 3 u "bo g ■a o u c 2 rt O c o •a u •a o 2 i < OO (6) a S H 352 44 189 595 29 332 66 95 3 12 8 17 3 1 65 1 16 4 4 6 I 4 8 — 348 40 193 625 31 341 69 96 3 1947/48— Normal retirement— Disability Death 40 2 65 1 Totals — 585 624| 398| 98 20 42 20) 1| 66 24) 6 4 Si 581| 656 410| 99| 66 1948/49— Normal retirement... Disability — 348 40 193 625 31 341 69 96 3 65 1 6 11 18 2 1 1 19 _ 77 — 1 —1 1 | -| __ 1 10 5 _ 1 7| 3 1 ll 1 - 2 1 344 40 197 635 31 349 68 94 141 3| 2 j Totals 581 656| 410| 99 66 17| 20 19| ... | 78 17| 6 4 12| 2 1 581| 666 417| 97| 143 1949/50— Normal retirement- Disability.. Death 344 40 197 635 31 349 68 ...... 94 3 141 2 9 - 17 14 .... - 1 131 .... -| .... -| .... 61 1 23 5 5 10 1 - 9 2 4! 1 5 -. -1 - 1 3301 630 351 28 2091 .- 1 358j 93 63| 3 1 202 3 Totals 581 666| 417) 97 143 26 14 13| ... | 62 33| 11| 11 9| 1 - 5741 658 4211 96| 205 1950/51— Normal retirement- 330 35 209 630| 358 28| 63 ...._ | 93 3 202 3 5 14 n i .... 1 1 16| —1 79 31 ... | .... I - | ... 1 14| 19 11 1 5| - 15 1 10 2 — 1 321| 608 341 27 218| ..... 1 1 364| 93) 281 64| 3| 3 1 | Totals 574 658] 421] 96 205 19 13 19| | 79 20| 20 16 12| - 573| 635 4281 96| 284 1951/52— Normal retirement— Disability Death 321 34 218 608 27 364| 93 64 3 281 3 6 1 11 12 .... - 1 7 - 4| .... - - 1 - 47 24 11 l| - 5| .... 26 1 1 6| .... 1 1 _| .... 3 - - 1 303j 583 34| 25 2241 .... 365| 93| 325 67 2| 3 -- 1 -- 1 Totals 573 635| 428| 96 284 18 12 11| ....I 47 30| 11 28 7| 1 3 5611 608 4321 951 328 1952/53— Normal retirement._ Disability Death 303 34 224 583 25 365 67 93 2 325 3 8 1 14 19 9 - 52 16| 20 H - 9| .... 8 9 1 3 9 295| 574 34| 25 2291 ...... 36s| 90| 368 66| 2 3 - 1 1 — Totals 561 6081 4321 95 328 23 19 9| - 52 261 20 8 10| 3 9 558| 599 431| 92| 371 1953/54— Normal retirement— Disability Death 295 34 229 574| 365 25 66 ..., | .... 90 2 368 3 3 8 3 6| .... ....I .... ... 1 - 69 "2 19 2 9 17 5 7 2 3 9 1 1 279| 555 321 25 228| ..... 364 64 87 2 428 2 2 Totals _ 558 599| 431| 92 371 11 3 6| - | 71 30| 17 5 9| 3 10 539| 580 4281 891 432 1954/55— Normal retirement— Disability Death 279 32 228 555 25 364 87 64| 2 ..... | ... 428 2 2 2 6 6 - 2 ... .... - 1 82 -1 5 1 131 27 -| 5 61 - 12 .... ll| 4 10 .... -| _.. 7 1 268| 522 321 20 228 ...... 355 54 ...... 83 503 2 1 .—.| 7 Totals 539 580| 4281 89 432 8 6 21 ...-I 87 19| 32 12 21| 4 8 528| 542 409| 85| 511 1955/56—2 Normal retirement- 268 32 228 5221 355 83 201 54 2 503 1 7 3 1 13 4 4 1 - 71 4 17 1 7 23 11 2 7 2 2 11 195 34 233 384 329 54 771 755 2| 1 Death __| 11 Totals— 528 5421 4091 85 511 17 4 5| ....| 75 25] 23 13 9| 2 11 462 402 383 79| 767 1956/57— Normal retirement- Disability Death 195 34 233 384 18 1 329| 77 54| 2 755 1 11 1 12 6 - 5| ....| 64 1 _ 1 _| -| 4 14| 22 3 2 9| - 12 1 - 12 2 1 13 1 182 31 736 356 15 322 53 761 806 2| 1 | 15 Totals 462 402| 383| 79 767 13 6 6| _| 69 26[ 24 13 14| 1 14 449| 371 3751 78J 822 1957/58— Normal retirement— Disability Death 182 31 236 | 1 356| 322| 76 15| 531 2 1 —1 — 806 1 15 2 7 2 - 1 1 11 -| 59 Zj Z\ "2 17 1 5 24 1 - 8 - - 1 16| 5 1| .... ....| - 14 - - 1 167| 326 30| 14 238 307 52 — 1 71| 851 21 1 1 " Totals 449 371| 375| 78 822 9 2 1| -1 61 231 25 8 17| 5 14 435| 340 3591 731 869 1 Guaranteed: (a) Superannuant died after expiration of guaranteed period; (b) guaranteed period expired, superannuate having died previously. 2 From year 1955-56 the figures are based on the actual count by plan in force. MUNICIPAL SUPERANNUATION REPORT, 1957/58 SCHEDULE No. 7 Municipal Superannuation Fund Number of Contributors and Pensioners by Employer, as at March 31st, 1958 V 19 Contributors Account "A" Account "B" Pensioners Total Contributors and Pensioners City of— Armstrong.. Chilliwack- Courtenay... Cranbrook- Duncan Enderby. _ Fernie Grand Forks.. Kamloops 2 i :::::: 1 i1 2 1 1 Kelowna.... Kimberley.. Langley Nanaimo.... Nelson New Westminster North Vancouver- Penticton Port Alberni . Port Coquitlam.. Port Moody Prince Rupert— Revelstoke Rossland Salmon Arm Trail _ Trail-Tadanac Board of Park Commissioners . Vancouver _ Vernon .. Victoria . White Rock District of— Burnaby .... Central Saanich.. Chilliwhack Coldstream Esquimau Glenmore Greater Vancouver Water District Greater Vancouver Sewerage and Drainage District- Greater Victoria Water District Kent - _ Langley _ Maple Ridge _ North Cowichan North Shore Union Board of Health North Vancouver.- Oak Bay Powell River _ Richmond Saanich Salmon Arm SpaOumcheen Summerland Surrey.... University Endowment Lands. West Vancouver 14 21 49 12 2» 3 25 1 3 5 3 f 505 4 . 81 li 3 20 22 2 4 2 2 6 13 27 3 l1 11 6 2 23 11 3 11 1 25 42 16 3 46 66 196 106 61 11 9 9 24 16 2 4 40 l1 6 2,797 38 348 303 2 8 2 33 2 146 2 16 21 6 17 9 154 59 7 53 117 1 1 64 21 95 3 2 7 2 3 1 1 24 14 1 20 34 53 58 2 4 1 13 4 1 1 12 200 4 1 6 2 48 22 19 26 1 1 13 7 28 2 9 4 V- 32 14 6 13 2 51 \t 57 17 3 74 114 2i 298 176 2i 72 38 14 13 42 23 3 6 52 li 6 4,239 5i 54 629 li 7 355 2 12 4 42 4 218 21 4 26 7 20 11 182 91 34 62 li 154 2 1 19 86 32 130 1 Inactive accounts, but eligible for pension benefits. V 20 BRITISH COLUMBIA SCHEDULE No. 7—Continued Municipal Superannuation Fund—Continued Number of Contributors and Pensioners by Employer, as at March 31st, 1958—Continued Contributors Pensioners Total Account "A" Account "B" and Pensioners Village of— Creston. ' — . 2 4 5 9 1 1 50 f 126 . 2i 1 1 5 2 4 6 1 3 1 2 3 1 4 1 6 7 2 11 7 2 8 3 1 2 50 11 2 3 2 3 4 2 2 203 ) 836 69 3 2 3 7 10 4 5 5 11 4 11 19 21 4 5 2 1 33 2 7 1 1 5 1 17 2 10 9 7 . 337 . I1 86 2 1 63 162 13 2 3 4 1 2 7 13 3 1 3 1 3 3 2 ) 118 29 2 2 7 4 9 13 Quesnel —.. ,.— Warfield. ' j 3 "2 Hospitals— 316 Vancouver General Hospital „.. - School District of— ■ . 1.124 . 2i 83 Campbell River, No. 72 4 7 Chilliwack, No. 33 . j 5 1 Creston, No. 5 — . - . 9 17 Howe Sound, No. 48. — — 10 10 Kitimat, No. 80 ; 9 12 2 Mission City, No. 75... 7 14 New Westminster, No. 40. 30 35 Penticton, No. 15 Poweli River. No. 47 7 11 3 1 36 Saanich, No. 63 10 9 Slocan, No. 8 — — I 12 12 3 Trail. No. 11 — ^8 Vanderhoof, No. 56 - —- 5 13 West Vancouver, No. 45 — — Will'ams Lake, No. 27 12 9 f 505 Victoria, No. 61 -— . 1' 126 Totals - f 1,228 ) 151 6,826 21 J 2,076 f 10,130 J 171 1 Inactive accounts, but eligible for pension benefits. Number of non-active unclaimed moneys accounts at March 31st, 1958, seventy-four. MUNICIPAL SUPERANNUATION REPORT, 1957/58 V 21 MUNICIPAL SUPERANNUATION FUND (OVER-AGE AGREEMENTS) Statement of Revenue and Expenditure for the Fiscal Year Ended March 31st, 1958 REVENUE Contributions as per requirements of the agreements entered into pursuant to section 14 (2) (b) of the " Municipal Superannuation Act "■— Employees, section 6 $222,379.53 Employers, section 8— Regular $272,989.47 Special Agreement bonus contributions 245.42 273,234.89 $495,614.42 Net interest on investments and bank interest 68,933.91 $564,548.33 „ , , EXPENDITURE Refunds— Section 20 $3,703.84 Section 23 16,583.28 $20,287.12 Transfer to Municipal Superannuation Fund General Account pursuant to section 5 (5) of the Agreement in respect of two pensions granted during year 12,006.36 32,293.48 Net increase of ledger assets $532,254.85 Balance-sheet as at March 31st, 1958 ASSETS Trustees' General Account Account Total Cash in bank $4,060.32 $9,282.33 $13,342.65 Accounts receivable—contributions due from municipalities, hospitals, school districts, etc 43,066.48 43,066.48 Investments at cost or par — net after amortization of premiums and discounts (see Schedule No. 9) __.. 2,216,735.95 2,216,735.95 (Par value, $2,262,500; market value, $2,172,481.) Accrued interest on investments 19,652.66 19,652.66 $2,240,448.93 $52,348.81 $2,292,797.74 LIABILITIES Employees' Retirement Annuity Account $893,183.91 Employer Service Pension Accounts (see Schedule No. 8) 1,386,327.00 Vancouver Agreement Bonus Account for Firemen and Policemen 1,280.47 Accounts payable 12,006.36 $2,292,797.74 L Approved. W. H. FORREST, Superannuation Commissioner. G. S. SOUTAR, Accountant. COMPTROLLER-GENERAL'S CERTIFICATE I certify that the accounts of the Municipal Superannuation Fund (Over-age Agreements) for the year ended March 31st, 1958, have been examined under my direction. I further certify that the above balance-sheet is in my opinion properly drawn up so as to exhibit a true and correct statement of the affairs of the Municipal Superannuation Fund (Over-age Agreements) according to the best of my information and the explanations given to me and as shown by the books of the Fund. C. J. FERBER, C.A., Comptroller-General, Province of British Columbia. Victoria, B.C., January 23rd, 1959. V 22 BRITISH COLUMBIA SCHEDULE No. 8 Municipal Superannuation Fund (Over-age Agreements) Employer Service Pension Accounts as at March 31st, 1958 Employer Number of Contributors Males by Retirement Age Age 65 Age 60 Females Total Credit Balance City of Cranbrook— City of Kamloops— City of Kelowna City of Kimberley— City of Nanaimo City of Penticton City of Port Moody- City of Revelstoke.— City of Trail- City of Vancouver.. City of Vernon City of Victoria.- City of White Rock District of Burnaby.- District of Central Saanich.. District of Chilliwhack Village of Creston Village of Mission City District of North Cowichan.. District of Oak Bay.. Village of Oliver District of Powell River Village of Quesnel- District of Summerland University Endowment Lands- District of West Vancouver— Greater Vancouver Water District Greater Vancouver Sewerage and Drainage Board- Hospitals— Royal Jubilee Hospital Vancouver General Hospital School District of— Campbell River, No. 72 Castlegar, No. 9 _. _ - Chilliwack, No. 33 Creston, No. 5 _ Howe Sound, No. 48- Kimberley, No. 3 Kitimat, No. 80 _ Mission, No. 75 Nelson, No. 7 New Westminster, No. 40- Penticton, No. 15 — Powell River, No. 47 Saanich, No. 63 Salmon Arm, No. 20 Sooke, No. 62- South Okanagan, No. 14. Terrace, No. 53 ._ Vanderhoof, No. 56 Vernon, No. 22 West Vancouver, No. 45- Victoria, No. 61. Totals.. 7 33 583 3 1 4 1 14 3 2 3 2 57 4 2 44 1 1 2 1 2 8 1 4 2 6 5 1 3 4 4 2 1 1 1 22 1 1 138 1 3 1 5 79 877 25 3 5 3 2 9 4 1 10 33 730 2 1 1 23 3 3 3 1 4 1 15 3 3 3 5 57 4 7 123 1 1 2 2 2 8 1 4 2 6 6 1 3 4 4 2 1 1 1 25 $8,766.54 3,465.15 7,941.10 3,707.10 6,554.72 3,246.05 2,129.02 10,718.47 6,071.45 1,024,951.51 5,259.58 5,096.82 459.93 5,497.01 2,229.90 3,917.35 305.48 2,668.34 436.84 2,941.30 391.94 4,514.79 2,179.71 603.14 2.181.32 6,030.71 14,998.09 7,589.84 17,933.91 165,507.60 1,062.74 1,205.92 682.13 1,377.41 717.43 853.60 2,793.64 1,621.26 5,319.20 454.16 4.877.74 4,086.86 180.65 3,974.34 1,549.17 5,696.72 665.66 1,188.56 330.27 1,209.49 18,185.34 237 I 1,139 $1,386,327.00 MUNICIPAL SUPERANNUATION REPORT, 1957/58 SCHEDULE No. 9 V 23 Trustees of the Municipal Superannuation Fund (Over-age Agreements) and the Minister of Finance for the Province of British Columbia Securities Held as at March 31st, 1958 Description Date of Maturity Par Value Book Value Government of Canada— June 1, 1960 Feb. 1, 1962 Sept. 1, 1966 Feb. 1, 1974 Feb. 1, 1981 June 15, 1968 Dec. 15, 1969 Feb. 1, 1974 Oct. 1, 1967 Nov. 1,1968 Sept. 15, 1991 May 21, 1992 June 15,1992 Sept. 15, 1992 Sept. 15, 1992 Dec. 15, 1987 Apr. 15. 1958-77 Dec. 15, 1973-77 July 15, 1970-71 June 1,1966-67 Aug. 1, 1958-76 Dec. 15, 1963-77 July 15, 1967-69 Oct. 15, 1960-74 Aug. 1, 1959-61 Oct. 1, 1967-73 Oct. 15, 1960-61 Feb. 1, 1962-74 Sept. 15, 1966 Sept. 15, 1966-75 Oct. 1, 1958-76 Jan. 15, 1959-60 Dec. 31, 1958-74 Sept. 1, 1962-76 Sept. 30, 1958-62 Mar. 15, 1959-65 Mar. 15, 1959-68 Apr. 1, 1958-77 July 1, 1958 $92,000.00 55,000.00 4,000.00 90,000.00 150,000.00 26,500.00 12,500.00 10,000.00 9,000.00 16,000.00 65,000.00 15.000.00 14,000.00 62,000.00 300,000.00 100,000.00 129,000.00 40,000.00 28,000.00 30,000.00 95,000.00 105,000.00 36,000.00 108,000.00 75,000.00 7,000.00 38,000.00 65,000.00 7,000.00 85,000.00 24,000.00 10,000.00 22,000.00 50,500.00 17,500.00 14,500.00 30,000.00 36,000.00 7,000.00 $88,757.67 54,329.07 3,948.17 Guaranteed by Government of Canada— Canadian National Railway Company— 3%% bonds . 94,375.44 145,876.96 Province of British Columbia— 3% bonds 25,139.70 3% bonds 12,312.44 9,809.91 Guaranteed by Province of British Columbia— British Columbia Power Commission— 3% bonds . 8,763.62 3% bonds 15,381.65 3%% bonds 4% bonds. — 4% bonds.— — 65,000.00 15,000.00 14,000.00 62,000.00 5% bonds 288,199.77 Pacific Great Eastern Railway Company— 4% % bonds 98,612.86 School District No. 3 (Kimberley) — 126,355.50 41/2% bonds 38,804.00 School District No. 7 (Nelson) — 4!4% bonds.... , School District No. 9 (Castlegar)— 3Vi% bonds 28,000.00 29,627.66 School District No. 10 (Arrow Lake) — 334% bonds. School District No. 15 (Penticton)— 4Yz% bonds _. School District No. 18 (Golden)— 4%% bonds School District No. 19 (Revelstoke) — 3lA% bonds . 90,988.15 102,806.55 36,000.00 106,390.80 School District No. 39 (Vancouver)— 75,000.00 School District No. 40 (New Westminster)— 4Vi% bonds School District No. 43 (Coquitlam) — 3Yt% bonds 7,000.00 37,441.55 School District No. 44 (North Vancouver)— 4Vi% bonds 65,000.00 School District No. 67 (Ladysmith)— 3!4% bonds 6,959.40 School District No. 68 (Nanaimo)— 3V4% bonds.. Village of Burns Lake— 84,507.00 22,072.80 Village of Comox— 3Vi% bonds 9,873.00 Village of Dawson Creek— 3%% bonds .. 22,000.00 Village of Fort St. John- 46,500.40 Village of Invermere— 4Vi% bonds. Village of Lake Cowichan— 31/2% bonds 17,500.00 14,249.58 Village of Osoyoos— 3% bonds.. 27,057.00 34,268.40 Village of Sidney— 3%% bonds. 6,893.60 V 24 BRITISH COLUMBIA SCHEDULE No. 9—Continued Trustees of the Municipal Superannuation Fund (Over-age Agreements) and the Minister of Finance for the Province of British Columbia—Continued Securities Held as at March 31st, 1958—Continued Description Date of Maturity Par Value Book Value Guaranteed by Province of British Columbia—Continued Village of Terrace— 3'/2% bonds Apr. 15, 1966-75 June 1,1959-67 July 1, 1958-76 June 30, 1971-75 June 15, 1964 $90,000.00 9,000.00 55,000.00 20,000.00 8,000.00 $90,000.00 Village of Ucluelet— 8,583.30 53,350.00 20,000.00 8,000.00 Village of Warfield— 3%% bonds Village of Westview— 3Vi% bonds Province of Manitoba— 3% bonds. Totals.. $2,262,500.00 $2,216,735.95 SCHEDULE No. 10 Municipal Superannuation Fund (Over-age Agreements) Comparative Statistics, April 1st, 1948, to March 31st, 1958 Fiscal Year Number of Contributors Contributions Withdrawals Number of Allow Male Female Employer Employees Male Female Amount Refunded ances Granted1 1948/49 18 20 21 437 467 547 620 9 648 19 729 21 877 25 19 21 21 55 92 132 152 164 209 237 $10,617.72 9,742.81 8,735.41 94,708.65 122,932.92 147,258.20 \ 178,049.96 I } 195,373.74 I ) 224,267.19 J ) 273,234.89 I $3,586.93 6,910.38 5,781.15 60,160.67 75,807.14 95,889.57 124,061.05 139,803.32 172,085.82 222,379.53 1 2 16 33 1 2 11 $153.82 578.53 2,859.25 6,276.14 6,317.66 13,058.46 12,152.15 27,722.43 ) 20,287.12 1 Q4Q.<;n 1950/51 .— 1951/52 1952/53 1953/54 25 20 1954/55— Maximum retirement age 65 Maximum retirement age 60 1955/56— Maximum retirement age 65 Maximum retirement age 60 1956/57— Maximum retirement age 65 Maximum retirement age 60 1957/58— Maximum retirement age 65 Maximum retirement age 60 22 50 ( 28 . 1 30 16 20 22 1 1 f ...... 1 2 Totals -- |$1,264,921.49 | $906,465.56 | $89,405.56 | i Allowances paid from Municipal Superannuation Fund. Present value transferred to corresponding accounts in the Municipal Superannuation Fund. Printed by Don McDiarmid, Printer to the Queen's Most Excellent Majesty in right of the Province of British Columbia. 1959 410-159-7315
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Nineteenth Annual Report of the Business Done in Pursuance of the MUNICIPAL SUPERANNUATION ACT for the… British Columbia. Legislative Assembly 1959
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Title | Nineteenth Annual Report of the Business Done in Pursuance of the MUNICIPAL SUPERANNUATION ACT for the YEAR ENDED MARCH 31ST 1958 |
Alternate Title | MUNICIPAL SUPERANNUATION REPORT, 1957/58 |
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British Columbia. Legislative Assembly |
Publisher | Victoria, BC : Government Printer |
Date Issued | [1959] |
Genre |
Legislative proceedings |
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Text |
FileFormat | application/pdf |
Language | English |
Identifier | J110.L5 S7 1959_V02_13_V1_V24 |
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Sessional Papers of the Province of British Columbia |
Source | Original Format: Legislative Assembly of British Columbia. Library. Sessional Papers of the Province of British Columbia |
Date Available | 2017-08-28 |
Provider | Vancouver : University of British Columbia Library |
Rights | Images provided for research and reference use only. For permission to publish, copy or otherwise distribute these images please contact the Legislative Library of British Columbia |
CatalogueRecord | http://resolve.library.ubc.ca/cgi-bin/catsearch?bid=1198198 |
DOI | 10.14288/1.0355445 |
AggregatedSourceRepository | CONTENTdm |
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