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

Section 39.1 Disposition versions

2016-01-01

39.1. An employer participating in a pension plan - or, in the case of a multi-employer plan, even where it is not considered as such under section 11 of the Act, the participating employers jointly - may, in writing, instruct the pension committee managing the plan that the monthly payments be reduced according to the conditions provided for in section 41 where the following conditions are met:

(1)  the payments become due after 31 December 2011 and before 1 January 2014;

(2)  the payments relate to the technical actuarial deficiency determined during a complete actuarial valuation of the plan dated after 30 December 2008 and prior to 31 December 2013.

The pension committee that receives instructions given under the first paragraph shall notify Retraite Québec as soon as possible, by sending it the following information in writing:

(1)  the date on which the pension committee received the instructions;

(2)  the amount, at the date of the actuarial valuation whereby it is determined, of the technical actuarial deficiency related to the monthly payments referred to in the instructions;

(3)  the date of the actuarial valuation as well as the date on which the deficiency’s amortization period ends, established in accordance with section 142 of the Act;

(4)  the monthly payments relating to the amortization payments, established in accordance with section 141 of the Act and this section that become due as regards the deficiency until 31 December 2013 and thereafter.

Any report on an actuarial valuation that determines an unfunded actuarial liability related to the monthly payments to which the instructions refer must also contain the information.

Notwithstanding the second paragraph of section 120 of the Act, where such a report has already been sent to Retraite Québec, it is deemed to be amended by the writing referred to in the second paragraph above as at the date on which the instructions were received by the pension committee.

O.C. 115-2012, s. 1.

2012-09-01

39.1. An employer participating in a pension plan - or, in the case of a multi-employer plan, even where it is not considered as such under section 11 of the Act, the participating employers jointly - may, in writing, instruct the pension committee managing the plan that the monthly payments be reduced according to the conditions provided for in section 41 where the following conditions are met:

(1)  the payments become due after 31 December 2011 and before 1 January 2014;

(2)  the payments relate to the technical actuarial deficiency determined during a complete actuarial valuation of the plan dated after 30 December 2008 and prior to 31 December 2013.

The pension committee that receives instructions given under the first paragraph shall notify the Régie as soon as possible, by sending it the following information in writing:

(1)  the date on which the pension committee received the instructions;

(2)  the amount, at the date of the actuarial valuation whereby it is determined, of the technical actuarial deficiency related to the monthly payments referred to in the instructions;

(3)  the date of the actuarial valuation as well as the date on which the deficiency’s amortization period ends, established in accordance with section 142 of the Act;

(4)  the monthly payments relating to the amortization payments, established in accordance with section 141 of the Act and this section that become due as regards the deficiency until 31 December 2013 and thereafter.

Any report on an actuarial valuation that determines an unfunded actuarial liability related to the monthly payments to which the instructions refer must also contain the information.

Notwithstanding the second paragraph of section 120 of the Act, where such a report has already been sent to the Régie, it is deemed to be amended by the writing referred to in the second paragraph above as at the date on which the instructions were received by the pension committee.

O.C. 115-2012, s. 1.