63.0.1. Every person who is a member of the council of a municipality that is a party to this plan in that person’s respect may, for all or part of any year subsequent to 31 December 1974 and prior to 1 January 1989 during which the person was a member of the council of that municipality, obtain pension credits equivalent to those granted under this plan if the person has not already obtained such pension credits in respect of all or part of such a year. Section 58 applies to the determination of pensionable salary in relation to the years or parts of years redeemed in accordance with this paragraph.
Any person who, during the period referred to in the first paragraph, participated in a pension plan in which the municipality on whose council the person was a member was participating in respect of the members of its council, may be credited under this plan with all or part of his or her years of service, rather than under the plan he or she was participating in. The amounts accumulated in the plan in respect of the years credited pursuant to this chapter shall be applied to the payment of the cost of such pension credits determined pursuant to section 63.0.3 and the third and fourth paragraphs of section 59 apply, with the necessary modifications, in respect of those amounts.
Every person who is a member of the council of a municipality that is a party to this plan in that person’s respect may obtain, for all or part of any year subsequent to 31 December 1988 during which the person was a member of the council of that municipality and did not participate in the plan, pension credits equivalent to those granted under this plan. Section 17 and the first paragraph of section 58 apply to the determination of pensionable salary in relation to the years or parts of years redeemed in accordance with this paragraph.
A person who has received a reimbursement of contributions paid to a plan referred to in this section is deemed not to have participated in that plan in respect of the period to which the reimbursed contributions pertain.
The credits obtained under this chapter in respect of years of service prior to 1 January 1992 may not exceed 2% of the pensionable salary paid.
2001, c. 25, s. 166; 2001, c. 68, s. 83; 2008, c. 18, s. 94.