138.8. An employee may be credited with all or part of the years and parts of a year of service not credited under this plan by reason of section 138.7 by paying to Retraite Québec the difference between the actuarial values of the benefits resulting from those years and parts of a year of service.
The years and parts of a year of service referred to in the first paragraph are credited beginning with the most recent service.
The amount to be paid by the employee referred to in the first paragraph bears interest, compounded annually, at the rates determined in Schedule VII from the date on which the actuarial values are established until the date the application for redemption is received at Retraite Québec and at the rate determined in Schedule VIII from the day following the date the application is received until the date of the redemption proposal made by Retraite Québec.
The amount established under the third paragraph is payable either in cash, by instalments over the period and at the intervals determined by Retraite Québec or, if provided for in the employee’s conditions of employment, by using all or part of his or her accumulated sick leave. In the latter case, his or her employer shall pay all or part of the amount according to the terms determined by Retraite Québec. An amount paid in instalments bears interest, compounded annually, at the rate determined in Schedule VIII in force on the date the application is received at Retraite Québec and computed from the date on which the redemption proposal made by Retraite Québec expires.
2004, c. 39, s. 255; 2006, c. 55, s. 53; 2015, c. 20, s. 61; 2018, c. 4, s. 561.