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

Section 9 Disposition versions

2012-09-01

9. The following section replaces section 121 of the Act mentioned in paragraph 3 of section 2:

“121. Any amendment to a pension plan having an impact on the funding of the plan must be considered for the first time not later than the latest of the following dates:

(1)  the date of the last end of fiscal year of the plan, the date of which is not later than the date the amendment is made; or

(2)  the date of the last end of fiscal year of the plan, the date of which is not later than the date the amendment becomes effective.

However, where the date of the last complete actuarial valuation of the plan occurs after the date determined pursuant to the first paragraph without occurring after the latest of the date the amendment is made or the date the amendment becomes effective, the amendment must be considered for the first time not later than the date of the valuation.

If the actuarial valuation report was sent to the Régie and an amendment which should have been considered under the first or second paragraph was not taken into account, the report must be amended or replaced.”.

O.C. 541-2010, s. 9.