220.127.116.11. The Régie must have an insurer guarantee the pension it pays to the members and beneficiaries referred to in section 18.104.22.168 not later than the end of the fifth fiscal year of the pension plan that follows the fiscal year during which the Régie began exercising the powers of the pension committee with respect to those members and beneficiaries. It may also, before the expiry of that time limit, have an insurer guarantee any pension it pays, in particular when the amount of the pension is set at an amount equal to or greater than the amount the member or beneficiary was or would have been entitled to before the withdrawal of the employer or the termination of the plan.
The second, third and fourth paragraphs of section 237 then apply, with the necessary modifications.
The amount of the pension guaranteed by an insurer under the first paragraph must be equal to or greater than the amount of the pension that would have been paid if the plan’s assets had been increased, on the date of termination, by an amount equal to the difference between the contributions required under this Act and those required under the Regulation respecting measures to reduce the effects of the financial crisis on pension plans covered by the Supplemental Pension Plans Act (chapter R-15.1, r. 4) or a regulation made under section 2 and providing for funding relief measures related to a technical actuarial deficiency determined by an actuarial valuation, provided that valuation is dated after 30 December 2011 but before 31 December 2013.
2009, c. 1, s. 2; 2011, c. 32, s. 2.