85. An employee who has availed himself or herself of the second paragraph of section 80 may be credited with the years and parts of a year of service pertaining to the period during which the employee would have been a member of this plan had it not been for the application of that paragraph if the employee applies therefor and pays an amount equal to the contribution the employee would have paid if he or she had been a member of this plan, with interest, compounded annually, at the rates determined in Schedule VII, for each year, from the midpoint of the period during which the employee would have paid contributions if the employee had been a member of this plan in the course of that year until the date the application is received at Retraite Québec and at the rate determined in Schedule VIII from the day following that date up to the date of the redemption proposal made by Retraite Québec. However, as regards the years and parts of a year of service credited to the employee, section 34 applies, where expedient, as though the employee had been a member of this plan during that period.
The amount established under the first paragraph is payable either in cash or by instalments spread 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. If paid by instalments, the amount bears interest, compounded annually, at the rate provided for in Schedule VIII in force on the date of receipt of the application, computed from the date on which the redemption proposal made by Retraite Québec expires.
2001, c. 31, s. 85; 2002, c. 30, s. 133; 2004, c. 39, s. 241; 2007, c. 43, s. 148; 2015, c. 20, s. 61; 2018, c. 4, s. 501.