R-15.1, r. 2 - Regulation respecting the funding of pension plans of the municipal and university sectors

Section 38.13 Disposition versions

2016-06-08

38.13. Any amendment to the new component of the pension plan whose purpose is an increase in benefits must, where the stabilization fund is appropriated for that purpose, specifically mention such an appropriation.

The stabilization fund may only be appropriated to the payment of the value of the obligations arising from such an amendment provided the general account of the new component of the pension plan has no technical actuarial deficiency. Furthermore, the balance of the fund after payment must be equal to or greater than the amount of the surplus liabilities of the new component, to which the provision for adverse deviations of the general account has been added.

For the purposes of determining the special amortization payment, referred to in section 21, that is required where the additional obligations resulting from an amendment to the new component of the pension plan have not been paid in full by the appropriation of the stabilization fund, any improvement unfunded actuarial deficiency determined during the actuarial valuation of the new component of the pension plan is reduced by an amount corresponding to the portion of the value of the additional obligations resulting from the amendment to the plan thus paid.

O.C. 1203-2013, s. 1; S.Q. 2016, c. 13, s. 73.

2013-12-19

38.13. Any amendment to the new component of the pension plan whose purpose is an increase in benefits must, where the stabilization fund is appropriated for that purpose, specifically mention such an appropriation.

The stabilization fund may only be appropriated to the payment of the value of the obligations arising from such an amendment once the payment referred to in section 38.11 has been made and provided the general account of the new component of the pension plan has no technical actuarial deficiency. Furthermore, the balance of the fund after payment must be equal to or greater than the amount of the surplus liabilities of the new component, to which the provision for adverse deviations of the general account has been added.

For the purposes of determining the special amortization payment, referred to in section 21, that is required where the additional obligations resulting from an amendment to the new component of the pension plan have not been paid in full by the appropriation of the stabilization fund, any improvement unfunded actuarial deficiency determined during the actuarial valuation of the new component of the pension plan is reduced by an amount corresponding to the portion of the value of the additional obligations resulting from the amendment to the plan thus paid.

O.C. 1203-2013, s. 1.