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

Section 39.2 Disposition versions

2016-01-01

39.2. 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 provided for in section 141 of the Act be reduced by 50% where the following conditions are met:

(1)  they become payable after 31 December 2013 and before 1 January 2016;

(2)  they relate to a technical actuarial deficiency determined during a complete actuarial valuation of the plan dated after 30 December 2008 and prior to 31 December 2015.

The pension committee that receives the instructions referred to in the first paragraph shall, as soon as possible, notify Retraite Québec in writing of the following:

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

(2)  the amount, on the date of the actuarial valuation on which it is determined, of the technical actuarial deficiency to which the monthly payments referred to in the instructions pertain;

(3)  the date of that actuarial valuation and the date on which the amortization period for the deficiency ends, as determined 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, becoming due as regards that deficiency until 31 December 2015 and thereafter.

Any actuarial valuation report that determines an actuarial deficiency to which the monthly payments referred to in the instructions pertain must also contain that 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 have been amended by the writing provided for under the second paragraph, as of the date on which the instructions are received by the pension committee.

O.C. 1176-2013, s. 1.

2013-12-31

39.2. 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 provided for in section 141 of the Act be reduced by 50% where the following conditions are met:

(1)  they become payable after 31 December 2013 and before 1 January 2016;

(2)  they relate to a technical actuarial deficiency determined during a complete actuarial valuation of the plan dated after 30 December 2008 and prior to 31 December 2015.

The pension committee that receives the instructions referred to in the first paragraph shall, as soon as possible, notify the Régie in writing of the following:

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

(2)  the amount, on the date of the actuarial valuation on which it is determined, of the technical actuarial deficiency to which the monthly payments referred to in the instructions pertain;

(3)  the date of that actuarial valuation and the date on which the amortization period for the deficiency ends, as determined 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, becoming due as regards that deficiency until 31 December 2015 and thereafter.

Any actuarial valuation report that determines an actuarial deficiency to which the monthly payments referred to in the instructions pertain must also contain that 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 have been amended by the writing provided for under the second paragraph, as of the date on which the instructions are received by the pension committee.

O.C. 1176-2013, s. 1.