Thank you, Mr. Speaker. Mr. Speaker,
I MOVE, seconded by the honourable Member for Inuvik Twin Lakes, that Bill 7, An Act to Amend the Legislative Assembly Retiring Allowance Act and the Supplementary Retiring Allowance Act, be read for the second time.
Mr. Speaker, this bill will allow Members of the Legislative Assembly to participate in a supplementary retiring allowance plan and sets out the details of the plan. Those Members who participate in the plan will contribute more under the registered plan.
This bill also changes numerous provisions of the Legislative Assembly Retiring Allowance Act and the Supplementary Retiring Allowance Act to ensure that the two plans are alike and consistent with similar plans whenever possible.
Finally, this bill makes other changes to clarify the details of the registered and supplementary plans.
Thank you, Mr. Speaker.