120. The funding of a pension plan must be based on an actuarial valuation report prepared at the request of the pension committee and transmitted to Retraite Québec. Unless the report concerns a partial actuarial valuation carried out under the conditions set out in the third paragraph of section 118, it must refer to a complete actuarial valuation of the plan.
Except in the case provided for in section 121, an actuarial valuation report that has been transmitted to Retraite Québec can be amended or replaced only at the request of or with the authorization of Retraite Québec and subject to the conditions fixed by Retraite Québec. If a report is amended or replaced, any unfunded actuarial liability determined by the valuation must be re-established and any actuarial certification required for the purposes of such valuation must be renewed.
1989, c. 38, s. 120; 2006, c. 42, s. 11; 2015, c. 20, s. 61; I.N. 2016-04-01.