R-15.1 - Supplemental Pension Plans Act

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230.2. Any surplus assets of a terminated pension plan are first allocated concurrently to the employer and to the members and beneficiaries with benefits under defined benefit provisions, up to the amounts recorded, respectively, under the first and second paragraphs of section 42.2.
If the amount of surplus assets is less than the total of the amounts recorded under section 42.2, they must be allocated proportionately to the amounts recorded, respectively, under the first and second paragraphs of that section.
Any remaining surplus assets must be allocated in accordance with the conditions and procedure set out in the plan.
The portion allocated to the members and beneficiaries is apportioned among them proportionately to the value of their accrued benefits or according to another method set out in the plan.
1992, c. 60, s. 34; 2000, c. 41, s. 139; 2015, c. 29, s. 62; 2018, c. 22018, c. 2, s. 124.
230.2. Any surplus assets of a terminated pension plan are first allocated concurrently to the employer and to the members and beneficiaries with benefits under defined benefit provisions, up to the amount of the contributions recorded, respectively, under the first and second paragraphs of section 42.2.
If the amount of surplus assets is less than the total amount of employer and employee contributions recorded under section 42.2, they must be allocated proportionately to the contributions recorded, respectively, under the first and second paragraphs of that section.
Any remaining surplus assets must be allocated in accordance with the conditions and procedure set out in the plan.
The portion allocated to the members and beneficiaries is apportioned among them proportionately to the value of their accrued benefits or according to another method set out in the plan.
1992, c. 60, s. 34; 2000, c. 41, s. 139; 2015, c. 29, s. 62.
230.2. In order that an agreement may be made pursuant to paragraph 1 of section 230.1, the employer must, before the date indicated in the notice sent to the employer by the pension committee pursuant to section 207.2, send to the pension committee and to the Régie a draft agreement only containing the following particulars:
(1)  the surplus assets determined on termination of the plan;
(2)  to whom such a surplus is to be allocated: to the employer only, to the members and beneficiaries only or to both the employer and the members and beneficiaries and, in the latter case, the percentage due to each;
(3)  where an agreement has been made or a statement sent pursuant to paragraph 2 of section 230.1, the portion of the surplus assets due to those who are governed by the collective agreement or the arbitration award in lieu thereof, and the proportion that the value of their benefits is of the value of the benefits of all the members and beneficiaries;
(4)  to the extent that all or part of the surplus is to be allocated to the members and beneficiaries, the method of apportionment to be used to determine the share of each;
(5)  any other information prescribed by regulation.
Each employer that is a party to a multi-employer pension plan, even not considered as such under section 11, must fulfil the obligation set out in the first paragraph as regards the surplus assets determined in respect of the employer and in respect of the members and beneficiaries whose benefits are included in the group of benefits relating to the employer. However, two or more employers that are parties to the same pension plan may agree to send a joint draft agreement to the pension committee.
The method referred to in subparagraph 4 of the first paragraph shall be the method of proportionalization of the surplus according to the value of the benefits of the members and beneficiaries; however, the following methods may also be used in the conditions described:
 — a method which grants members who are non-active on the date of termination a larger share of the surplus assets than they would have received on a proportional basis;
 — if an actuary certifies that all or part of the surplus is a result of circumstances related to a given group of members or beneficiaries, a method which grants them a larger share than they would have received on a proportional basis;
 — if the plan provides that all or part of the surplus must be used to increase their benefits, a method which grants members or beneficiaries a share of the surplus which, although different from the share they would have received on a proportional basis, corresponds to the share to which they are entitled under the plan;
 — a method which combines elements from several of the abovementioned methods;
 — any other method, provided that no member or beneficiary subsequently opposes the draft agreement within the period prescribed by section 230.4.
Such a method shall provide for the adjustment of the share of every member or beneficiary in the surplus assets in the event of a change in the amount of the surplus or in the overall value of the benefits of the members and beneficiaries between the date of termination and the date of payment of the share to the persons entitled thereto.
1992, c. 60, s. 34; 2000, c. 41, s. 139.
230.2. In order that an agreement may be made pursuant to paragraph 1 of section 230.1, the employer must, within six months after transmission to the pension committee of the decision of the Régie which fixes the date of termination of the plan, send to the pension committee a draft agreement indicating
(1)  the surplus assets determined on termination of the plan;
(2)  to whom such a surplus is to be allocated: to the employer only, to the members and beneficiaries only or to both the employer and the members and beneficiaries and, in the latter case, the percentage due to each;
(3)  where an agreement has been made or a statement sent pursuant to paragraph 2 of section 230.1, the portion of the surplus assets due to those who are governed by the collective agreement or the arbitration award in lieu thereof, and the proportion that the value of their benefits is of the value of the benefits of all the members and beneficiaries;
(4)  to the extent that all or part of the surplus is to be allocated to the members and beneficiaries, the method of apportionment to be used to determine the share of each;
(5)  any other information prescribed by regulation.
The method referred to in subparagraph 4 of the first paragraph shall be the method of proportionalization of the surplus according to the value of the benefits of the members and beneficiaries; however, the following methods may also be used in the conditions described:
 — a method which grants members who are non-active on the date of termination a larger share of the surplus assets than they would have received on a proportional basis;
 — if an actuary certifies that all or part of the surplus is a result of circumstances related to a given group of members or beneficiaries, a method which grants them a larger share than they would have received on a proportional basis;
 — if the plan provides that all or part of the surplus must be used to increase their benefits, a method which grants members or beneficiaries a share of the surplus which, although different from the share they would have received on a proportional basis, corresponds to the share to which they are entitled under the plan;
 — a method which combines elements from several of the abovementioned methods;
 — any other method, provided that no member or beneficiary subsequently opposes the draft agreement within the period prescribed by section 230.4.
Such a method shall provide for the adjustment of the share of every member or beneficiary in the surplus assets in the event of a change in the amount of the surplus or in the overall value of the benefits of the members and beneficiaries between the date of termination and the date of payment of the share to the persons entitled thereto.
1992, c. 60, s. 34.