86. An employee who has availed himself or herself of the first or second paragraph of section 59.1 of the Act respecting the Government and Public Employees Retirement Plan (chapter R-10) may be credited with the years or parts of a year of service that had been credited before the date of the refund if the employee applies therefor and pays an amount equal to the amount that was refunded to the employee, with interest, compounded annually at the rates determined for each period by this Act. The interest runs from the date of the refund until the date of the redemption proposal made by the Commission.
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 the Commission. 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 the Commission expires.
2001, c. 31, s. 86; 2002, c. 30, s. 134.