PROVINCE OF BRITISH COLUMBIA Twenty-second Annual Report of the Business Done in Pursuance of the MUNICIPAL SUPERANNUATION ACT for the YEAR ENDED MARCH 3 1st 1961 Printed by A. Sutton, Printer to the Queen's Most Excellent Majesty in right of the Province of British Columbia. 1962 To Major-General the Honourable George Randolph Pearkes, V.C., P.C., C.B., D.S.O., 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, 1961. WESLEY D. BLACK, Provincial Secretary. Provincial Secretary's Office, Victoria, B.C., November 29th, 1961. 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, 1961. f, I have the honour to be, ■ •-■ cirsir.'^ < ... Sir,- ' Your obedient servant, W. H. FORREST, Commissioner of Municipal Superannuation. November 28th, 1961. Municipal Superannuation Report, 1960/61 REPORT OF THE BUSINESS DONE IN PURSUANCE OF THE MUNICIPAL SUPERANNUATION ACT DURING THE FISCAL YEAR ENDED MARCH 3 1st, 1961. Section 3 (1).—The following employers adopted the Act during the year under the provisions of clause (c), (d), or (/) of this subsection, effective from the date shown:— Employer Effective Date School District No. 28 (Quesnel) July 1st, 1960 Seventy-seven hospitals (see Schedule No. 1) July 1st, 1960 Queen Alexandra Solarium September 1st, 1960 . Queensborough Bridge Toll Authority (New Westminster) September 1st, 1960 As at March 31st, 1961, there were 248 active employer accounts in the Fund. 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 statement of revenue and expenditure and the balance-sheet appended. Section 6.—Basic employee 5-per-cent contributions amounted to $3,646,- 616.24, and employee voluntary and special agreement contributions amounted to $676,808.85. As at March 31st, 1961, there were 17,959 active contributors. Section 8.—Employer contributions amounted to $3,678,204.86 in respect of current service and $1,356,043.26 in respect of past service. A total of $46,625 was refunded to twenty-three employers who had liquidated their past service liabilities. Extra employer contributions totalling $4,570.98, being one-half of 1 per cent of salaries for firemen and policemen in Victoria, were made under special agreements with this employer. Eleven employers reimbursed the Fund in a total amount of $33,692.77, to cover payments made by the Commissioner on their behalf supplementing superannuation allowance payments in accordance with the provisions of individual special agreements with each of the eleven employers. Section 10.—(1) The Minister of Finance paid $90,000 into the Fund, which payment was in lieu of interest on the certificates of loan under the former Act. (2) The net rate of interest earnings of the Fund for the year was 4.60 per cent, and after charging administration expenses, 4.46 per cent; therefore, no payment was required from the Minister of Finance under this subsection. (3) An amount of $214,957.04, being the excess of the net interest earnings over the required 4 per cent, was transferred to the reserve for interest and administration, which totalled $290,739.12 as at March 31st, 1961. Section 13.—Superannuation allowances were granted to 205 contributors who attained retirement age. For analysis, see schedules of comparative statistics appended. Section 16.—Two superannuation allowances were granted under the total and permanent disability provisions. Section 17.—Superannuation allowances were granted to the dependent in the case of twenty-five contributors who died while still in service. Refunds totalling $13,623.13 were made in the case of sixteen contributors who died while still in service. 5 M 6 BRITISH COLUMBIA Section 18.—Refunds totalling $451,826.72 were made in the case of 1,271 contributors who left the service of their employers. Section 22. — Actuarial and administration expenses paid from the Fund amounted to $75,901.68. The total administration expenses of the Superannuation Branch are distributed among the various funds administered on the basis of the number of contributors and pensioners. A comparison of the annual unit cost per contributor and pensioner for the last eight years is as follows:— 1953/54 $3.30 1957/58 $2.94 1954/55 3.20 1958/59 2.92 1955/56 3.00 1959/60 3.18 1956/57 2.83 1960/61 2.77 Section 27.—The securities held by the trustees on March 31st, 1961, are set out in Schedule No. 2 of this Report. During the year $11,468,000 par value bonds were purchased, the average yield being 5.67 per cent; $1,214,000 par value bonds were sold at an average yield of 4.15 per cent; and $496,500 par value bonds were redeemed, resulting in a net increase of $9,757,500 par value bonds held by the trustees between March 31st, 1960, and March 31st, 1961. 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. During the year the benefits of the Municipal Superannuation Act were extended to approximately 5,000 employees in seventy-eight public hospitals. Past-service benefits were granted and financed on an individual basis. Each new employer makes a separate contribution for past service sufficient to liquidate the liability in respect of the past-service benefits granted to his employees. These amounts are shown separately in the last column of Schedule No. 1. Several amendments of a minor nature were made to the Act during the 1961 regular session of the Legislature, as follows:— (1) Participation in the plan by part-time employees was left to the discretion of the employer. (2) The Act may be extended to a children's aid society and its employees, upon application by the board of directors. (3) An employee who resigns after completing twenty years of service and before reaching his minimum retirement age may have payment of his deferred paid-up allowance commence, upon application, any time after attaining the minimum retirement age, rather than having to wait until his maximum retirement age. Where such a person elects to have his allowance start before the maximum retirement age, the amount of the allowance is reduced. (4) The automatic plan of allowance, which is effective if the employee does not make a selection of plan at least one year prior to retirement, was changed from a straight five-year guaranteed plan to the following:— For a single person, a temporary annuity of not more than $55 per month until age 70, with the balance on the five-year guaranteed plan. For a married male employee, a combination of plans including two units of temporary annuity to age 70 ($55 per month each), with the balance on the joint life and last survivor plan. These were the plans found by experience to be most popular among the employees in each category. (5) An omission on the death in service provision was corrected. MUNICIPAL SUPERANNUATION REPORT, 1960/61 M 7 (6) The calculation of refunds was simplified with regard to the method of calculating the amount of interest. (7) Special provision was made to establish uniform methods of determining eligibility and pensionable service for hospital employees coming within the scope of the Act; also a maximum superannuation allowance for hospital employees was adopted to conform with the maximum used in the Civil Service Superannuation Act—namely, $7,500 per annum. W. H. FORREST, Commissioner of Municipal Superannuation. MUNICIPAL SUPERANNUATION FUND Statement of Revenue and Expenditure for the Fiscal Year Ended March 31st, 1961 Revenue Contributions as per requirements of the Municipal Superannuation Act— Employees, section 6— Basic 5-per-cent contributions $3,646,616.24 Voluntary and special agreement contributions 676,808.85 Employers, section 8— In respect of current service (Schedule No. 1) $3,678,204.86 In respect of past service (Schedule No. 1) 1,356,043.26 Special agreement bonus contributions 4,570.98 Special agreement supplementary pension payments (as per contra) 33,692.77 Minister of Finance, section 10 (1 )____. Interest on investments and bank interest. Expenditure Superannuation allowances— Paid from Fund $1,555,954.60 Paid by employers under special agreements (as per contra) 33,692.77 Refunds— Resignations, etc., section 18.. Death in service, section 17.. Employer past-service credit balances- Miscellaneous employer $451,826.72 13,623.13 46,625.00 2,719.24 Administration expenses, sections 21, 22, and 30. Net increase of ledger assets $4,323,425.09 5,072,511.87 90,000.00 2,206,478.70 $11,692,415.66 $1,589,647.37 514,794.09 75,901.68 2,180,343.14 $9,512,072.52 M 8 BRITISH COLUMBIA MUNICIPAL SUPERANNUATION FUND Balance-sheet as at March 3 1st, 1961 Assets Cash in bank $13,463.12 Accounts receivable—current contributions due from municipalities, hospitals, school districts, etc 871,957.01 Investments at cost or par—net after amortization of premiums and discounts {see Schedule No. 2) (par value, $55,382,500) 53,842,816.69 Accrued interest on investments 575,330.08 $55,303,566.90 Liabilities Municipal Superannuation Fund Basic Account $38,853,945.97 Employees' Retirement Annuity Account . . 16,124,669.47 Victoria Agreement Bonus Account for Policemen 17,326.22 Victoria Agreement Bonus Account for Firemen 6,380.37 Reserve for interest and administration 290,739.12 Sundry accounts payable 10,505.75 $55,303,566.90 Approved. W. H. FORREST, Superannuation Commissioner. G. S. SOUTAR, Accountant. COMPTROLLER-GENERAL'S CERTIFICATE The accounts of the Municipal Superannuation Fund for the year ended March 31st, 1961, have been examined under my direction and, subject to the fact that no actuarial report has been prepared pursuant to the Municipal Superannuation Act, chapter 258, R.S.B.C. 1960, in my opinion, the above balance-sheet is 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., November 17th, 1961. MUNICIPAL SUPERANNUATION REPORT, 1960/61 SCHEDULE No. 1 Contributions by Employer for Year Ended March 31st, 1961 M 9 Employer Total Contributory Salaries, 1960/61 Employer Contributions For Current Service For Past Service Alberni Armstrong.. Chilliwack.. Cities (32) Courtenay Cranbrook- Dawson Creek- Duncan.— , Enderby. Fernie Grand Forks.. Greenwood Kamloops Kelowna Kimberley Langley Nanaimo Nelson New Westminster- North Vancouver... Penticton Port Alberni Port Coquitlam. Port Moody- Prince George.. Prince Rupert.. Revelstoke Rossland Trail Vancouver.— Vernon Victoria White Rock. Sub-totals of 32 cities _ Burnaby Central Saanich.. Chilliwhack.. Coldstream Esquimalt Fraser Mills Districts (29) Glenmore (amalgamated with Kelowna, September 15th, 1960) Kent Kitimat Langley— .. Maple Ridge .. Matsqui Mission North Cowichan—. North Vancouver- Oak Bay- Peachland Pitt Meadows- Powell River Richmond- Saanich Salmon Arm.— Spallumcheen„ Sumas Summerland Surrey Tadanac Terrace $52 5 60 29. 167 124. 62 12 63. 27 5 215 337. 134 19 338 467 1,754 828 369 213 100. 93 185 425 154 91 378 23,672 218. 3,002. 51 932.65 ,625.00 ,678.42 ,683.25 ,295.23 ,034.00 1,224.80 ,060.00 ,606.70 ,193.54 ,809.15 ,075.06 ,158.61 ,305.97 ,808.76 ,414.62 ,620.41 ,141.59 ,574.87 ,542.19 ,636.18 ,341.34 ,045.13 ,930.39 ,989.65 ,915.IS ,068.83 ,003.52 :,323.54 ,112.21 .,537.87 ,738.90 $2,533.39 225.00 2,402.41 1,186.97 8,381.11 5,077.06 2,536.99 482.40 3,089.91 1,244.94 333.48 11,038.47 15,448.95 6,346.60 766.88 16,211.44 23,641.20 103,128.53 43,718.24 16,974.25 11,265.24 4,424,45 4,049.21 9,566.57 20,090.68 7,663.17 4,609.18 21,082.83 1,290,328.80 10,403.96 172,387.83 2,462.10 West Vancouver.. $2,868,394.59 34,573.87 42,989.00 21,726.40 215,070.29 5,264.16 20,726.07 334,237.94 152,827.44 92,724.83 156,970.00 86,878.15 106,498.38 1,201,405.22 435,207.86 3,937.50 18,945.36 278,474.66 748,290.64 1,243,623.70 27,182.72 4,778.00 44,250.82 94,211.62 1,082,261.00 245,379.07 46,251.50 832,195.34 $138,021.96 2,301.31 1,732.98 1,034.64 10,294.21 210.56 1,154.08 14,868.85 7,115.60 4,296.83 8,290.98 4,606.46 4,969.47 55,829.98 25,021.09 157.47 730.82 15,377.93 33,889.97 70,709.18 1,391.63 173.72 2,214.02 4,643.05 54,252.35 16,958.99 2,248.95 40,246.55 $1,347.00 440.04 916.02 33.54 628.98 25.02 6,62(8.50 4,115.37 6,678.00 8,207.04 53,915.70 16,105.08 224.04 4,552.98 1,159.74 429.06 4,927.02 1,639.56 446.28 275.00 567,267.48 2,991.00 110,881.50 $33,663,427.56 | $1,823,102.24 | $793,833.95 $13,343.94 1,387.50 836.46 2,190.00 418.00 151.02 834.00 260.52 11.52 69.00 258.48 3,820.46 7,685.56 56.04 1,625.04 1,046.52 6,493.50 119.46 3,628.02 4,895.04 13,304.04 7,274.52 Sub-totals of 28 active district accounts.. $10,445,276.13 $522,743.63 | $69,908.64 M 10 BRITISH COLUMBIA SCHEDULE No. 1—Continued Contributions by Employer for Year Ended March 31st, 1961—Continued Total Contributory Salaries, 1960/61 Employer Contributions Employer For Current Service For Past Service Towns (3) Fort St. John _ $53,169.60 68,483.03 57,190.00 $2,646.79 3,078.82 2,984.05 $778.02 21.00 $178,842.63 $8,709.66 | $799.02 Villages (57) $8,855.66 7,025.00 5,279.88 11,600.00 45,323.46 26,482.23 3,960.00 16,385.04 35,040.23 4,180.15 $479.97 251.25 274.50 574.00 2,175.77 1,180.74 158.40 941.61 1,371.07 167.21 $176.04 12,813.62 4jO8O.O0 7,386.64 517.65 163.20 417.49 1.02 426.96 Harrison Hot Springs- - - — 33,346.15 1,523.60 193.50 11,754.94 3,300.00 470.20 132.00 13,355.00 12,960.00 27,433.55 4,800.00 8,700.00 838.80 732.00 1,287.07 384.00 306.00 480.00 7.00 4,500.00 4,500.00 9,925.40 2,580.00 180.00 180.00 349.87 206.40 103.02 87,764.14 14,355.55 12,491.78 8,100.00 3,943.46 695.95 499.67 324.00 149.52 43.02 8,350.00 20,639.86 5,400.00 7,825.00 31,664.31 3,900.00 6,190.00 292.50 994.70 216.00 313.00 1,406.48 312.00 443.40 250.02 Sidney— _ 1,452.85 1,191.29 28,195.00 23,665.77 Taylor _ .- 15,585.00 19,271.00 28,717.25 916.83' 690.39 1,623.26 Warfield - $647,681.61 $30,578.58 $1,830.10 MUNICIPAL SUPERANNUATION REPORT, 1960/61 M 11 ! SCHEDULE No. 1—Continued Contributions by Employer for Year Ended March 3 1st, 1961—Continued Employer Total Contributory Salaries, 1960/61 Employer Contributions For Current Service For Past Service Miscellaneous Employers (17) Burnaby Public Library- Civic Properties Commission (Chilliwack) _ Cultus Lake Park Board Greater Nanaimo Water District Greater Vancouver Sewerage and Drainage District- Greater Vancouver Water District Greater Victoria Water District Nelson Civic Centre Commission. _ Nelson Municipal Library- North Shore Union Board of Health- Queensborough Bridge Toll Authority Trail-Tadanac Board of Park Commissioners- University Endowment Lands _ Vancouver Housing Authority- Vancouver Public Aquarium Association.. Vernon Civic Arena Victoria Memorial Arena Sub-totals of 17 miscellaneous employers _ Hospitals by Location (80) Abbotsford—Matsqui-Sumas-Abbotsford General Alert Bay—St. George's Armstrong—Armstrong-Spallumcheen Ashcroft—Lady Minto Bella Bella—R. W. Large Memorial Bella Coola—Bella Coola General Burnaby—Burnaby General — Burns Lake—Burns Lake and District Campbell River—Campbell River and District General Castlegar—Castlegar and District Chemainus—Chemainus General— Chilliwack—Chilliwack General Comox—St. Joseph's General Cranbrook—St. Eugene Creston—Creston Valley Cumberland—Cumberland General Dawson Creek—St. Joseph's General Duncan—King's Daughters' _. Enderby—Enderby and District Memorial Esperanza—Esperanza General Fernie—Fernie Memorial — Fort St. John—Providence Ganges—Lady Minto Gulf Islands Golden—Golden and District General Grand Forks—Grand Forks . Haney—Maple Ridge Hazelton—Wrinch Memorial _ - Hope—Fraser Canyon Invermere—Windermere District Kamloops—Royal Inland Kaslo—Victorian. . Kelowna—Kelowna General Kimberley—Kimberley and District Ladysmith—Ladysmith and District General Lillooet—Lillooet District Merritt—Nicola Valley General _. Mission City—Mission Memorial... Murrayville—Langley Memorial Nakusp—Arrow Lakes Nanaimo—Nanaimo General Nelson—Kootenay Lake General New Denver—Slocan Community New Westminster— Royal Columbian St. Mary's $51,264.08 6,233.33 4,335.00 36,695.94 754,552.60 ,017,388.68 130,365.81 28,547.25 2,730.00 113,217.78 18,747.33 56,601.42 134,086.47 28,860.00 25,848.00 6,055,00 18,016.63 $2,144.26 249.34 346.80 1,654.82 37,583.24 50,912.45 5,514.35 1,193.13 163.80 5,057.33 891.41 2,560.52 7,485.92 1,526,10 1,222.49 242.20 889.10 $2,433,545.32 $119,637.26 $95,848.08 42,374.10 18,528.00 23,938.63 4,046.46 8,501.08 419,141.75 10,510.00 89,506.87 26,629.00 11,307.88 226,231.26 81,537.08 109,862.04 51,335.14 47,051.38 56,077.67 240,204.73 22,800.00 20,205.00 46,876.00 38,117.00 15,885.07 19,775.00 13,308.00 99,235.48 9,918.74 37,597.00 18,168.25 342,286.62 12,819.00 341,043.73 81,569.66 61,668.43 16,289.50 30,240.00 74,473.00 139,778.71 2,966.74 208,544.38 161,008.67 11,309.52 1,311,524.32 262,669.05 $3,710.97 2,190.21 1,081.98 1,052.96 131.29 291.48 16,404.99 501.75 4,154.55 1,156.83 519.89 9,903.31 3,856.50 4,576.41 2,328.04 2,148.87 2,415.40 10,524.71 1,241.82 938.70 1,984.79 1,583.42 985.14 770.02 668.29 4,160.66 427.54 1,274.94 571.46 13,979.96 544.14 14,777.04 4,200.58 3,001.82 488.68 1,288.36 3,420.94 5,998.82 121.32 9,716.35 7,369.54 633.97 60,158.16 9,779.97 $547.00 3,975.00 11,840.94 625.98 549.48 735.54 2,764.02 $21,037.96 $1,084.50 1,600.49 700.49 861.75 6,978.78 529.47 1,251.74 274.50 132.75 6,231.76 2,518.49 2,416.50 1,427.24 1,758.76 1,699.49 7,326.74 1,090.51 1,354.50 179.26 946.51 535.50 1,284.01 57.76 18.00 7,623.72 218.25 8,902.51 3,411.74 2,310.75 20.25 466.49 1,805.24 3,411.00 252.00 6,871.50 6,230.25 505.51 50,815.51 3,475.51 M 12 BRITISH COLUMBIA SCHEDULE No. 1—Continued Contributions by Employer for Year Ended March 3 1st, 1961—Continued Employer Total Contributory Salaries, 1960/61 Employer Contributions For Current Service For Past Service Hospitals by Location—Continued North Vancouver—Lions Gate Ocean Falls—Ocean Falls General Oliver—St. Martin's Pender Harbour—St. Mary's.. Penticton—Penticton Port Alberni—West Coast General- Pouce Coupe—Pouce Coupe Community- Powell River—Powell River General Prince George—Prince George Regional- Prince Rupert—Prince Rupert General— Princeton—Princeton General Queen Charlotte City—Queen Charlotte Islands General.. Quesnel—Quesnel General Revelstoke—Queen Victoria Rossland—Mater Misericordiae .. Salmon Arm—Shuswap Lake General Sidney—Rest Haven.— Smithers—Bulkley Valley District Squamish—Squamish General Summerland, West—Summerland General- Surrey, North—Surrey Memorial Torino—Tofino General Trail—Trail-Tadanac Vancouver— Children's Grace Mount St. Joseph's . St. Paul's St. Vincent's Vancouver General Vanderhoof—St. John Vernon—Vernon Jubilee Victoria— Queen Alexandra Solarium- Royal Jubilee St. Joseph's _ White Rock—White Rock District Williams Lake—War Memorial- — Sub-totals of 80 hospitals School Districts (47) Alberni (No. 70) Alert Bay (No. 73) Arrow Lakes (No. 10) Burnaby (No. 41) Campbell River (No. 72) Castlegar (No. 9) Chilliwack (No. 33) Courtenay (No. 71) Cowichan (No. 65) Creston (No. 5) Fernie (No. 1)_. Fraser Canyon (No. 32) Greater Victoria (No. 61).. Howe Sound (No. 48) Kamloops (No. 24) - Kelowna (No. 23) Kimberley (No. 3) _. Kitimat (No. 80) Ladysmith (No. 67) Merritt (No. 31) Mission (No. 75) Nanaimo (No. 68) Nelson (No. 7).. $353 22. 42 19 261 163 21 195 157 174 28. 8. 47. 34. 35. 83. 14, 42. 34, 41, 236 16, 297, 218, 227, 123. 1,283, 215, 5,124, 21, 209, 69. 1,831. 789, 78. 69. ,280.34 ,354.57 ,690.72 612.09 ,213.38 ,101.85 ,985.50 ,312.53 ,530.06 ,387.18 ,502.23 285.00 ,950.93 ,542.88 ,778.10 759.47 738.48 ,097.73 ,397.34 ,272.11 047.90 ,153.00 ,046.87 ,474.49 ,746.61 ,675.40 ,644.91 ,644.70 881.85 ,998.95 ,643.45 ,693.96 ,503.19 ,307.11 ,548.76 ,084.64 $15,942.83 776.33 1,854.54 669.67 12,021.92 7,891.98 968.72 8,132.65 6,160.08 7,484.33 1,384.23 381.69 2,115.38 1,611.69 1,666.99 3,878.66 890.01 1,465.26 1,566.00 1,917.11 8,786.20 693.54 12,784.63 9,863.13 9,263.45 5,434.29 56,075.92 9,452.44 230,634.79 1,053.71 10,002.07 3,088.19 85,639.97 36,043.71 3,667.95 2,822.37 $17,558,596.30 $781,123.00 New Westminster (No. 40) _ $158 13, 36. 748, 49, 66. 84, 88. 6 79, 33 27 778 58 139, 129, 49 121 32 22 55, 258 97 156 ,740.42 ,345.00 ,085.69 ,430.03 .017.98 135.87 ,397.31 ,272.97 ,714.00 983.22 ,030.59 ,013.09 ,174.44 ,988.00 ,125.77 688.47 599.56 701.57 912.05 849.96 127.52 ,376.82 019.48 810.47 $9,262.08 619.20 1,715.23 34,647.25 2,457.24 2,969.80 3,392.07 5,870.34 268.56 4,316.85 1,417.86 1,552.32 37,508.45 2,929.82 5,677.60 6,393.76 2,206.22 5,941.41 1,901.54 1,000.26 2,557.53 13,851.04 5,213.37 7,925.69 $14,094.72 116.26 898.49 178.49 6,546.76 6,918.01 170.26 5,367.76 2,400.01 3,247.49 901.51 981.00 856.53 1,196.28 2,079.00 433.51 1,019.99 1,314.00 1,980.00 139.50 9,562.50 9,912.76 6,535.51 3,633.75 41,323.50 8,124.75 56,601.54 369.72 7,359.75 1,387.19 16,008.00 24,297.75 2,117.99 465.75 $377,119.76 $3,252.96 775.20 2,076.00 142.50 1,290.00 52.02 169.02 648.00 11,618.52 165.00 799.98 242.04 85.02 375.00 6,000.00 1,048.50 3,310.14 MUNICIPAL SUPERANNUATION REPORT, 1960/61 M 13 SCHEDULE No. I—Continued Contributions by Employer for Year Ended March 31st, 1961—Continued Employer Total Contributory Salaries, 1960/61 Employer Contributions For Current Service For Past Service School Districts—Continued North Vancouver (No. 44) Penticton (No. 15) Powell River (No. 47) Prince George (No. 57) Prince Rupert (No. 52) Princeton (No. 17) Qualicum (No. 69) Quesnel (No. 28) Richmond (No. 38)... Saanich (No. 63).. Salmon Arm (No. 20)~ Sechelt (No. 46) Slocan (No. 8) Smithers (No. 54) Sooke (No. 62)_ Southern Okanagan (No. 14) _ Terrace (No. 53) _ Trail (No. II) Vancouver (No. 39) Vanderhoof (No. 56)- Vernon (No. 22)_ West Vancouver (No. 45).. Williams Lake (No. 27) Sub-totals of 47 school districts Totals of 248 active employer accounts.. $361, 46, 90, 132, 21 15 23 45 304 63 50, 48 10, 56, 74 61 52 171 2,869 39 82 141 75 ,302.17 929.58 ,336.87 ,760.47 ,933.00 ,927.00 ,639.30 ,535.50 ,906.25 ,054.48 ,520.20 ,010.84 ,387.50 393.00 ,110.10 ,371.00 ,955.00 ,373.01 ,038.07 ,979.91 ,200.94 ,256.43 ,860.56 $19,082.14 2,400.14 4,569.25 6,940.15 877.32 2,145.46 945.93 2,329.74 12,153.70 3,829.34 2,463.14 3,153.87 598.50 2,783.53 3,748.25 3,624.36 2,457.80 8,319.30 132,649.69 2,117.69 3,451.18 7,173.61 2,900.91 8,131,321.46 | $392,310.49 $3,063.00 385.02 516.48 180.00 1,642.00 309.00 402.03 557.04 736.50 193.02 526.44 6.00 63.90 42,679.50 90.00 212.52 7,901.48 $91,513.83 $73,058,691.01 I $3,678,204.86 $1,356,043.26 M 14 BRITISH COLUMBIA SCHEDULE No. 2 Trustees of the Municipal Superannuation Fund and the Minister of Finance for the Province of British Columbia Securities Held as at March 31st, 1961 Par Value Book Value Province of British Columbia $285,000.00 $283,641.82 Province of British Columbia guaranty—■ British Columbia Power Commission 6,938,500.00 6,831,248.57 British Columbia Toll Highways and Bridges Authority 1,671,000.00 1,683,693.47 British Columbia Toll Highways and Bridges Authority demand note 425,000.00 425,000.00 Pacific Great Eastern Railway Company 3,376,000.00 3,287,030.32 Greater Vancouver Water District 355,000.00 347,765.77 Vancouver and Districts Joint Sewerage and Drainage Board 25,000.00 25,329.25 British Columbia school district serials 31,994,000.00 30,717,137.23 British Columbia municipal serials 2,247,000.00 2,124,571.64 British Columbia hospital improvement district serials 719,000.00 716,977.00 British Columbia fire protection and waterworks district serials 439,500.00 419,231.90 Alberta Government guaranty— Alberta Government Telephone Commission.- 130,000.00 127,474.58 Alberta Municipal Financing Corporation 450,000.00 436,709.60 Province of Manitoba 1,705,000.00 1,707,650.35 Province of Ontario guaranty— Ontario Hydro-electric Power Commission—. 270,500.00 276,453.09 Ontario Municipal Improvement Corporation.. 2,270,000.00 2,302,892.36 University of Toronto 1,832,000.00 1,882,456.99 Province of Quebec guaranty— Quebec Hydro 250,000.00 247,552.75 $55,382,500.00 $53,842,816.69 MUNICIPAL SUPERANNUATION REPORT, 1960/61 M 15 6_ *■-. ft, .> 1 Si. s o s I 3T3 go. < £ S <u 3W.2 ON ^H m so Stjv^-t^^^'^^r-'jmro^vovia.Ov^'t- iiHCM»qnrHO*0'-HqAr.'-iOM3\m\qve rtTt'Hm^g>dr^«Q\odrr!\CHVrn\OH\e °i "* °„ ^ *i ^ ^ °., R, ^ '"J. 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'"ivC- 0\" oo o" rf th oc n r>" c^ oo" ^ y? t> Q m* rn vi ^QVDCilnNO^rlMlnr*nlfl«)riO cn-^--«*'^*m\or-t>ooc3\aNds'-ii-H*-i(N(S SO (N ( « m m c rnN£QOOOTf<»e^^<^^^^^rHooinen»nvOrs(©.-< r-<^wu^m.^coO.^©in.-«rNin^r—o.ONr--aN--iin «tStNr.r.nt>.(SMNr.tN ^vo^W'j^O';-ioortfv.i/.ooo\oi,|*rtr.Nooo\^ enene^^Tt^in-3-^Ttv£.i1£>oor--.t---ONOoON&.\Ooo3N 1. m_. 0' o E < qpcj\<irtC-O,OH5\T)-ioO0-'t'irJnHTtM^,f-r:i NO ON 00 » ^f'tOQ l in sq Tf t r- so p c m \£> m i SooM^f'non'Tr-^N'i'fiQo^Hi- i TO^VOpt^rHTtTt.^vot>t^\OfOrn^j;< j in ri n ci o j. rnV d ri n a. . en s* oC on op Wi On* Hn>M7\QbSr. nhonma\Ooiinoo> t'f.i»oo*or-o,+ *ot5-M' c---iTfONO\'-'0\Or-.o-^- a\'-oooo\ON^pi/-_r-i rNwrrirHinTtr-int-t-' *— tNtscsr.nTfnMtn' i-<ON00'-<m\0i^-in0N'-,O\m'rj-Tj-en i~-aiciO\tNrtr-(rHO\'t|n|*oooin_ _ „ ..^ ..-- . en en in *3- r- t 1§2 '2ri*2fl5^* . *£. en n© m . t> oo c m en * t* in m g c-mr-mtd-"ni-ioom <t wi q $\ i-»_.-t in q en m ^ m CO oo or.*fi on" m" ^ ci ti-'oo'hco''^' m^C3t3\0'-|r*^inooO\ m ri On cc woo t <?n m ( o\ O < en en * ) On tN h oo r- ixq _*en >n Oo^t-oofN'*(-^r^(j^r^'^^OlO, I>O'-"00n£)On00ON'—iQOON^j-< St—iNONONONjOOlenONr^-m.—it— ^d- r ..^jf'r-ijNrott-cOQvrHipr^riqi: Sr i © *n oo in »n *PhO\Q5\^ tS O 0n_ oo ft O W r* ^ n© . . _.._._. en a\ t— i>oooo«en^r^ONrnooao.-Hwr—Tf^-'d-'oocn t~- r>l>^t^(5>inqM^ooO\*rHCiioM'HmH'*M e>.HNr>lN^rn^^inNDoeorl»nN43E-ONNOenen ^r.«( ^^Qin©SP<^^^*too©rnint--ONNOena'.<3N<2- wO^c^^-H^-OOopOooOr-enooNjDONtjN-^-^-in ■nin^r^en^ONrJt-eno^fNooo\'^-ON(NTh'-i(?\i>ON en en m enenenen-^'Tfinin'<r^ No'r^r-oo'ooON'T-TrNt"- en # ^ ^ ^ "3- Q\ On On Q\ On OS mNjot-ooONOi-'c.en'^mNjsc-oo^N. Tj-^-g-^^-mininminininm^inv ^0\ffNdNCT\g>0\OsON^NOsONdNO\$\t M 16 BRITISH COLUMBIA SCHEDULE No. 4 Municipal Superannuation Fund Comparative Statistics, April 1st, 1946, to March 31st, 1961, Subdivided According to Sex of Contributor Superannuation Allowances Number of Contributors Number of Refunds Granted Fiscal Year Granted during Year Deaths and Expirations In Force at End of Year Male Female Male Female Male Female Male Female Male Female 1946/47 3,340 869 198 217 148 23 44 4 1,570 135 1947/48 3,770 937 245 254 139 10 39 3 1,670 142 1948/49 ; .... 4,199 1,190 196 245 125 9 41 1 1,754 150 1949/50 -. 4,595 1,312 170 289 107 8 63 2 1,798 156 1950/51 - . 4,763 1,525 296 369 115 15 62 6 1,851 165 1951/52 - 5,206 1,594 393 411 78 10 76 4 1,853 171 1952/53 5,324 1,649 325 459 93 10 69 7 1,877 174 1953/54 5,634 1,801 302 451 79 12 73 ! 1 1,883 185 1954/55 6,056 1,931 261 539 89 14 91 5 1,881 194 1955/56—! Maximum retirement age 65 4,482 315 60 60 1,421 Maximum retirement age 60 1,806 1,981 56 538 25 16 14 9 474 198 1956/57— Maximum retirement age 65 4,749 451 51 69 1,403 Maximum retirement age 60 1,861 1,886 50 662 25 18 13 10 486 206 1957/58— Maximum retirement age 65 5,126 275 40 70 1,373 Maximum retirement age 60 1,917 2,150 44 534 23 10 16 6 493 210 1958/59— 7,086 2,093 283 21 561 55 18 11 49 10 9 1,379 501 Maximum retirement age 60 2,770 212 1959/60— Maximum retirement age 65 7,673 376 55 62 1,372 Maximum retirement age 60 2,130 2,946 20 658 41 11 19 8 523 215 1960/61— Maximum retirement age 65 8,995 385 100 72 1,400 Maximum retirement age 60 2,132 6,832 16 886 37 95 12 7 548 303 1 From year 1955/56 the figures are based on new actual count. MUNICIPAL SUPERANNUATION REPORT, 1960/61 M 17 SCHEDULE No. 5 Municipal Superannuation Fund Comparative Statistics, April 1st, 1951, to March 31st, 1961—Allowances Granted and in Force, Subdivided by Type and Plan of Allowance Granted during Year Expired during Year In Force at End of Year Fiscal Year 3 c u 3 H « 3 M J O >-> u jg •3 o ri c < d B V H 3 C Guaranteed1 0 3 '0 ■a •9 0 IS ri a < d E V H 0 3 M C •a u U c « 3 O 3 0 u td 0 s i < (a) (6) B H 1951/52— 6 1 11 12 7 4 — 47 m| 11 l'i 51 26 7 ' 6 1 1 3 303 j1 5831 165 93 2 325 34] 25] 67 224| 3 Death... . Totals ... 18] 12 111 1 47 30) ii 28] 7] 1 3 561] 6081 432 95 328 1952/53— 8 19 11...... 14[— 9 — 52 16| 20 1! 8 9 1 3 9 —|— —1 295 34 229 574 25 365 66 90 2 368 1 Death M - Totals - - 231 19 9\ 1 52 261 20| 8 10] 3] 9 5581 599] 431 92] 371 1953/54— 3 8 3 6 — | 69 | 2 i 1 19 171 5 1 1 ■ 7] 3i 9 ri * 279 32 228 555 364 25" 64 871 428 Disability Death 2 9 - 2] 2 n Totals 11| 3| 6\ | 71 30] 171 5'| 9 3 10 539] 580]' 428 89| 432 1954/55— 2 6 6 2 82 5 13 27 - 5 6|-.. 12 __ u 10 1 4 • 7 1 268 32 228 522] 355 20] 54 83 2 503 Disability _ Death- ___ 1 1 7 Totals 8[ 6] 2] | 87 19] 32] 12] 21] 4| 8 528] 542] 409 85] 511 1955/56—3 3 1 13 4 i i- 71 4 i '1 1;7, 93 11 i 1 7 11 195 34 233 384 18 329 54 77 2 755 11 \ ■>. 2 1 Death. 7|_ I ... 11 Totals 171 4| 5| — | 75 25 23] 13| 9| 2| 11 462; 402]' 383 79] 767 1956/57— 1 12 6 5 | 64 H- | 1 — 1 ' 4 14 3 221 12 9)! 1 12 2 1 13 1 182] 356] 322 31' 15 S3 76 2 806 1 Death _ . 9\ -1- 236 15 Totals 13 6| 6|—..j 69 26] 24| 13| 14| 1] 14 449] 371] 375 78 822 1957/S&— 2 7 2 lj—.. 59 ■ hh 17 1 5 24 1 ' 8 • 16 I 5 14 167] 326] 307 30] 14| 52 238 | 71 2 851 Disability... — Death - _ ._. 1 17 Totals < 9 2\ 1>| , 61 23] 25 8] 17 5 14 435] 340| 359 731 869 1958/59— 3' 9 n ,! 56 6 91 15 1 1 4]-_ 2 1. 16 1 3 13 2 161! 316] 293 29] 12' 52 243]- ] 68 2 894 \ 1 Death 21 12] 7| 3|_ ;■ 62 14] 16] 3'| 171 3| 15 4331 328] 345 70] 916 1959/60— 3 51 3 .... [11 »l 1— 1 75 9 11 27 4 11 2 15 153 290 285 69 954 Disability — Death - 3 13 3 26 239 10 51 2 1 30 Totals _ 12[ 6| 4 1| 84 27] 30| 4| 13 1 15 418] 300] 336 7I| 985 1960/61— i 1 i 56 21']. 9 ._.. li 1 15| I |— 119 10 17 24 1 14 3 6 15 1 1 . 192] 286] 280 21 10] '49 250|. 1. 63 2 1058 Disability Death ___ _ 5 4 1' t 39 71 22 101 129 26 251 1 17 6 16 463 296!i 10Q 65 4098 1 Guaranteed: (a) Superannuant died after expiration of guaranteed period; (6) guaranteed period expired, superannuant having died previously. 2 From year 1955/56 the figures are based on the actual count by plan in force. M 18 BRITISH COLUMBIA SCHEDULE No. 6 Municipal Superannuation Fund Number of Contributors and Pensioners by Employer, as at March 31st, 1961 Employer Contributors Pensioners Total Contributors and Pensioners Class I Class II Class III Cities (32) f { 1 1 ! { 1 { 1 n i 13 li 7 33 22 14 3 16 6 1 36 70 21 4 li 52 3i 76 174 126 69 47 22 16 32 68 29 15 82 31 2,568 48 358 11 2i 459 4 6 31 6 41 35 22 26 17 21 176 51 1 5 44 109 152 6 5 2 2 8 8 6 15 15 107 2i 30 10 4 5 11 5 li 11 2i 1,310 4 180 2 92 4 12 12 9 3 43 30 10 li 18 57 1 4 2 2 7 2 1 1 2 17 3 1 4 8 58 14 10 4 2 2 7 li 16 1 2 4 li 727 3 88 3 61 1 6 3 13 4 2 5 1 2 20 9 1 5 23 21 1 3 2 7 2 3 1 1 24 14 1 5 21 32 64 55 7 2 2 1 11 4 1 8 977 11 193 34 3 3 2 1 2 21 20 2 6 25 12 1 20 Courtenay. — Cranbrook li 11 47 31 18 6 20 7 2 Kamloops - 70 109 31 10 li 92 31 131 403 2i 225 96 S3 26 23 44 li 106 34 23 Trail li 105 6i 5,582 66 819 White Rock _ 16 Districts (29) 2i 646 9 Chilli whack 15 7 49 2 6 66 39 25 40 21 25 260 110 1 6 61 li 156 255 7 1 Inactive accounts, but eligible for pension benefits. MUNICIPAL SUPERANNUATION REPORT, 1960/61 M 19 SCHEDULE No. 6—Continued Municipal Superannuation Fund—Continued Number of Contributors and Pensioners by Employer, as at March 31st, 1961— Continued Employer Contributors Pensioners Total Contributors and Pensioners Class I Class II Class III Districts—Continued Spallumcheen _ _ — 1 10 20 230 9 12 i 41 1 1 4 31 1 li 16 3 1 1 1 1 1 1 1 1 1 2 1 1 1 1 1 1 1 15 6 23 1 3 11 25 288 56 5 1 4 10 | 117 10 16 13 2 1 2 3 9 5 1 3 8 1 3 1 2 8 3 1 3 3 6 1 1 1 1 2 1 30 li Towns (3) Fort St. John 186 13 18 14 Villages (57) 3 Alert Bay < 1 '■ 9 1 2 1 3 Campbell River 10 6 1 Com ox _ 4 9 Cumberland _ 1 3 2 2 8 Invermere _ - 3 1 3 6 2 1 Montrose 1 18 1 20 4 1 2 1 4 1 2 11 1 1 5 6 Osoyoos _ — _ 1 1 12 Sechelt — _ 2 Silverton __ Smithers Squamish _ Stewart _ 6 7 i Inactive accounts, but eligible for pension benefits. M 20 BRITISH COLUMBIA SCHEDULE No. 6—Continued Municipal Superannuation Fund—Continued Number of Contributors and Pensioners by Employer, as at March 31st, 1961- Continued Employer Contributors Pensioners Total Contributors and Pensioners Class I Class II Class III Villages—Continued Taylor 3 5 4 3 1 1 7 126 ( li I 195 24 5 4 11 11 12 7 5 1 4 4 1 1 1 24 2 6 1 17 7 6 3 5 4 15 1 3 2 2 2 1 8 7 3 1 14 1 1 2 10 1 1 13 2 1 1 17 1 1 1 1 35 7 11 7 10 159 3 30 11 6 76 24 38 16 15 21 78 9 6 16 25 6 9 5 35 16 14 6 14 33 4 7 1 2 1 2 3 1 2 1 1 1 Telkwa Tofino Ucluelet. ' — _ Vanderhoof Warfield 4 6 6 Special Groups (17) 13 Civic Properties Commission (Chilliwack).. 1 1 8 Greater Vancouver Sewerage and Drainage 141 li 241 30 6 Nelson Municipal Library 1 21 Queenborough Bridge Toll Authority. Trail-Tadanac Board of Park Commissioners - — - 11 12 34 8 Vancouver Public Aquarium Association 6 1 4 Hospitals (80) Abbotsford — Matsqui-Sumas-Abbotsford 40 Alert Bay—St. George's._ Armstrong—Armstrong-Spallumcheen 2 7 12 8 11 184 5 Campbell River—Campbell River and Dis- 36 12 Chemainus—Chemainus General. 6 95 34 45 19 20 Dawson Creek—St. Joseph's General— 25 95 Enderby—Enderby and District Memorial- Esperanza—Esperanza General 10 9 18 Fort St. John—Providence Ganges—Lady Minto Gulf Islands 27 9 10 6 44 Hazelton—Wrinch Memorial _ 23 17 Invermere—Windermere District— 7 i Inactive accounts, but eligible for pension benefits. MUNICIPAL SUPERANNUATION REPORT, 1960/61 M 21 SCHEDULE No. 6—Continued Municipal Superannuation Fund—Continued Number of Contributors and Pensioners by Employer, as at March 31st, 1961— Continued Employer Contributors Pensioners Total Contributors and Pensioners Class I Class II Class III Hospitals—Continued 20 20 4 4 4 4 9 13 13 1 94 13 21 1 3 1 20 11 1 10 9 10 2 2 2 2 1 2 2 14 1 18 3 6 10 111 10 1 v I 472 2 17 12 1 99 85 4 3 26 1 8 -: --- 108 7 111 26 21 8 8 26 46 2 65 51 5 417 104 116 8 16 8 80 50 10 70 54 59 « 5 16 14 14 26 5 22 11 14 86 7 98 78 93 42 377 83 3i 1,166 4 71 25 li 322 237 30 28 15 2 1 1 5 1 2 1 1 24 6 1 3 2 1 1 2 2 6 2 2 18 4 187 2 61 11 1 129 7 136 30 Ladysmith—Ladysmith and District Gen- 25 8 12 30 Murray ville—Langley Memorial „ 55 3 Nanaimo—Nanaimo General- 80 65 7 New Westminster— 535 St. Mary's _ __ 117 1 143 9 19 9 101 62 Pouce Coupe—Pouce Coupe Community 11 83 Prince George—Prince George Regional Prince Rupert—Prince Rupert General 63 71 10 Queen Charlotte City — Queen Charlotte 5 18 16 16 34 7 24 Squamish—Squamish General Summerland, "West—Summerland General- 13 16 100 Trail—Trail-Tadanac, Vancouver— 118 87 101 Mount St. Joseph's _. St. Paul's 54 506 97 Vancouver General Vanderhoof—St. John Vernon—Vernon Jubilee Victoria— 41 1,825 6 90 37 li 482 333 34 Royal Jubilee St. Joseph's - White Rock—White Rock District Williams Lake—War Memorial . School Districts (47) Alberni (No. 70) 31 42 Alert Bay (No. 73) _ 3 9 1 Inactive accounts, but eligible for pension benefits M 22 BRITISH COLUMBIA SCHEDULE No. 6—Continued Municipal Superannuation Fund—Continued Number of Contributors and Pensioners by Employer, as at March 31st, 1961— Continued Employer Contributors Class I Class II Class III Pensioners Total Contributors and Pensioners School Districts—Continued Burnaby (No. 41) Campbell River (No. 72) _ Castlegar (No. 9) Chilliwack (No. 33) Courtenay (No. 71) Cowichan (No. 65) Creston (No. 5) Fernie (No. 1) Fraser Canyon (No. 32)— Greater Victoria (No. 61).. Howe Sound (No. 48) _- Kamloops (No. 24) _ Kelowna (No. 23) Kimberley (No. 3) — Kitimat (No. 80) _ Ladysmith (No. 67) Merritt (No. 31)— Mission (No. 75)- Nanaimo (No. 68) Nelson (No. 7) New Westminster (No. 40). North Vancouver (No. 44) Penticton (No. 15) - - Powell River (No. 47)- Prince George (No. 57).. Prince Rupert (No. 52).. Princeton (No. 17) Qualicum (No. 69) Quesnel (No. 28)- Richmond (No. 38) Saanich (No. 63) Salmon Arm (No. 20)—. Sechelt (No. 46) Slocan (No. 8) Smithers (No. 54) Sooke (No. 62)- South Okanagan (No. 14). Terrace (No. 53) Trail (No. 11) Vancouver (No. 39) Vanderhoof (No. 56).. Vernon (No. 22).. West Vancouver (No. 45).. Williams Lake (No. 27) 109 9 13 15 22 1 18 7 6 141 II 25 35 10 21 6 4 12 49 23 30 68 11 15 33 6 4 5 11 49 15 13 9 2 12 17 14 11 38 li 431 8 19 23 20 11 47 1 3 10 3 40 1 13 2 1 1 3 2 3 23 5 5 16 2 li 7 4 1 1 2 30 4 1 4 181 3 6 15 4 Totals.. 13i 8,995 6i 2,132 9i 6,832 3 1 27 4 1 2 9 12 2 3 121 2,251 li 168 10 16 27 27 1 21 12 7 208 12 42 37 12 22 9 6 15 72 30 44 96 15 li 22 37 7 5 6 13 81 20 14 13 2 14 20 15 11 47 l'i 733 11 27 39 24 281 20,210 1 Inactive accounts, but eligible for pension benefits. Number of inactive accounts, but eligible for pension benefits, 28; number of non-active unclaimed moneys accounts as at March 31st, 1961, 96. Printed by A. Sutton, Printer to the Queen's Most Excellent Majesty in right of the Province of British Columbia. 1962 460-1261-6260
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Twenty-second Annual Report of the Business Done in Pursuance of the MUNICIPAL SUPERANNUATION ACT for… British Columbia. Legislative Assembly [1962]
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Title | Twenty-second Annual Report of the Business Done in Pursuance of the MUNICIPAL SUPERANNUATION ACT for the YEAR ENDED MARCH 31ST 1961 |
Alternate Title | MUNICIPAL SUPERANNUATION REPORT, 1960/61 |
Creator |
British Columbia. Legislative Assembly |
Publisher | Victoria, BC : Government Printer |
Date Issued | [1962] |
Genre |
Legislative proceedings |
Type |
Text |
FileFormat | application/pdf |
Language | English |
Identifier | J110.L5 S7 1962_V02_04_M1_M22 |
Collection |
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 | 2018-01-22 |
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 | 10.14288/1.0363249 |
AggregatedSourceRepository | CONTENTdm |
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