R-15.1 - Supplemental Pension Plans Act

Full text
135.5. (Replaced).
1998, c. 2, s. 40; 2006, c. 42, s. 11.
135.5. Any report of the actuarial valuation of a pension plan subject to this subdivision must include a projection of the level of the pension fund for a period of at least 15 years, without extending beyond the amortization period of an unfunded actuarial liability referred to in the second paragraph of section 135.3. The Régie may fix all the conditions that it considers appropriate for the determination of the actuarial assumptions and methods to be used for that purpose.
Where such a projection indicates that the assets will become inadequate in the course of that period to pay as required the refunds and pension benefits provided by the plan, the actuary shall include, in his or her report, a recommendation concerning corrective measures, including increases, that must be taken in respect of the amortization amounts to ensure that the assets are adequate at all times during that period. The recommendation must be approved by the Régie; if approved, the recommendation is binding on the administrator of the plan and on the parties. If the recommendation is not approved, the Régie may order any remedial measure it determines.
1998, c. 2, s. 40.