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

Section 38.2 Disposition versions

2016-06-08

38.2. The components of the plan are governed by the Act and this Regulation with regard to funding, asset investment, appropriation of any surplus assets, division and merger, and payment of members’ and beneficiaries’ benefits, as though they were 2 separate pension plans.

However, for the purposes of section 60 of the Act, the plan must be considered as a single pension plan.

Member contributions above the limit set by section 60 of the Act must be apportioned in proportion to the value of the benefits accrued in each component of the pension plan.

O.C. 1203-2013, s. 1; S.Q. 2016, c. 13, s. 71.

2013-12-19

38.2. The components of the plan are governed, with regard to funding, investment of the assets, appropriation of any eventual surplus assets, division and merger, as well as the settlement of the benefits of members and beneficiaries on winding-up, by the Act and this Regulation as though they were 2 separate pension plans. Furthermore, the provisions of sections 60 and 60.1 of the Act apply separately to each component of the pension plan.

The pension fund of the plan is, as of the date of segregation, distributed between 2 separate accounts.

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