R-15.1, r. 6.1 - Regulation respecting supplemental pension plans affected by the arrangement regarding AbitibiBowater Inc. under the Companies’ Creditors Arrangement Act

Section 45 Disposition versions

2016-01-01

45. For each pension plan registered with Retraite Québec having an affected component at the date of the actuarial valuation, the global report must contain the statements of the actuary provided for in the section of the standards of practice of the Canadian Institute of Actuaries to which section 4 of the Regulation respecting supplemental pension plans (chapter R-15.1, r. 6) refers, and the following information:

(1)  the amount of the assets of the affected component, determined on a solvency basis without taking into account section 6, as well as the amount of the liabilities determined on that basis;

(2)  the amount of the assets of the affected component, determined in accordance with the first paragraph of section 6;

(3)  the amount of the technical actuarial deficiency of the affected component, determined in accordance with section 11;

(4)  the degree of solvency of the affected component, determined in accordance with section 22;

(5)  for the report as at 31 December 2011 and following:

(a)  the overall degree of solvency at the date of the valuation as well as the overall target degree of solvency at that date and at each date of the end of the fiscal year through 31 December 2019;

(b)  the amount of the contributions provided for under Division IV that were excluded from the assets of the affected components for the purpose of determining the overall degree of solvency at the date of the valuation;

(c)  (subparagraph revoked);

(6)  in respect of the basic amortization payment, for each of the last 6 months of the fiscal year following the date of the valuation and each of the subsequent 6 months:

(a)  the amount of the monthly payments that must be made to each of the affected components;

(b)  the total of the monthly payments payable;

(7)  (subparagraph revoked);

(8)  for the report as at 31 December 2015 and following:

(a)  the overall supplementary sum for the fiscal year following the valuation date and the amount of the payments determined in accordance with section 23 or 24 payable during each of the two subsequent fiscal years with respect to a payment deficiency;

(b)  the amount of the supplementary sum payable to each of the affected components for the fiscal year following the valuation date;

(c)  the target degree of solvency of the affected component at the valuation date and the shortfall in solvency assets of the affected component at that date;

(d)  for the amount of the payment deficiency:

i.  for each of the affected components, the value of element “B” of section 21, as determined for the purpose of calculating the amount of the payment deficiency for the fiscal year ending at the date of the valuation and the value of elements “C” and “D” used to determine the value of element “B”;

ii.  the value of element “F” and of element “G”, as determined for the purpose of calculating the payment deficiency for the fiscal year ending at the date of the valuation and, for each affected component, the benefits and interest paid in accordance with section 8 during the fiscal year;

iii.  an estimate of the value of elements “B”, “F” and “G” of section 21, as those elements would be determined for the purposes of calculating the amount of the payment deficiency for each of the subsequent fiscal years;

(9)  for the contribution in case of production cutbacks:

(a)  the amount of any compensatory amount which has become required during the fiscal year ending at the date of the valuation, under an agreement mentioned in section 29;

(b)  the amortization period and amount of each payment of the compensatory amount, determined in accordance with section 30;

(c)  the amount of the contribution in case of production cutbacks payable to each affected component for the fiscal year following the date of the valuation;

(10)  for the report as at 31 December 2019, the supplementary sum payable to each of the affected components for the fiscal years ending on 31 December 2021 and 31 December 2022;

(11)  each amount not required under this Regulation - or under the equivalent provisions of the applicable Ontario legislation - that must be indicated in the report in accordance with section 54 as well as the total of any such amounts.

Furthermore, the global report must contain:

(1)  the name of any pension plan to which the provisions of this Regulation have ceased to apply at the valuation date as well as the number assigned to it by Retraite Québec;

(2)  the name of any pension plan to which the provisions of this Regulation apply on the date the plan is terminated, the date of termination and the number assigned to the plan by Retraite Québec;

(3)  the amount of the supplement to the basic amortization payment that must be paid into each of the affected components for the fiscal year following the date of the valuation and the total of all such amounts.

Moreover, the global report must contain the information required for the annual combined report provided for under the applicable Ontario legislation.

O.C. 856-2011, s. 45; O.C. 299-2014, s. 11.

2014-04-09

45. For each pension plan registered with the Régie having an affected component at the date of the actuarial valuation, the global report must contain the statements of the actuary provided for in the section of the standards of practice of the Canadian Institute of Actuaries to which section 4 of the Regulation respecting supplemental pension plans (chapter R-15.1, r. 6) refers, and the following information:

(1)  the amount of the assets of the affected component, determined on a solvency basis without taking into account section 6, as well as the amount of the liabilities determined on that basis;

(2)  the amount of the assets of the affected component, determined in accordance with the first paragraph of section 6;

(3)  the amount of the technical actuarial deficiency of the affected component, determined in accordance with section 11;

(4)  the degree of solvency of the affected component, determined in accordance with section 22;

(5)  for the report as at 31 December 2011 and following:

(a)  the overall degree of solvency at the date of the valuation as well as the overall target degree of solvency at that date and at each date of the end of the fiscal year through 31 December 2019;

(b)  the amount of the contributions provided for under Division IV that were excluded from the assets of the affected components for the purpose of determining the overall degree of solvency at the date of the valuation;

(c)  (subparagraph revoked);

(6)  in respect of the basic amortization payment, for each of the last 6 months of the fiscal year following the date of the valuation and each of the subsequent 6 months:

(a)  the amount of the monthly payments that must be made to each of the affected components;

(b)  the total of the monthly payments payable;

(7)  (subparagraph revoked);

(8)  for the report as at 31 December 2015 and following:

(a)  the overall supplementary sum for the fiscal year following the valuation date and the amount of the payments determined in accordance with section 23 or 24 payable during each of the two subsequent fiscal years with respect to a payment deficiency;

(b)  the amount of the supplementary sum payable to each of the affected components for the fiscal year following the valuation date;

(c)  the target degree of solvency of the affected component at the valuation date and the shortfall in solvency assets of the affected component at that date;

(d)  for the amount of the payment deficiency:

i.  for each of the affected components, the value of element “B” of section 21, as determined for the purpose of calculating the amount of the payment deficiency for the fiscal year ending at the date of the valuation and the value of elements “C” and “D” used to determine the value of element “B”;

ii.  the value of element “F” and of element “G”, as determined for the purpose of calculating the payment deficiency for the fiscal year ending at the date of the valuation and, for each affected component, the benefits and interest paid in accordance with section 8 during the fiscal year;

iii.  an estimate of the value of elements “B”, “F” and “G” of section 21, as those elements would be determined for the purposes of calculating the amount of the payment deficiency for each of the subsequent fiscal years;

(9)  for the contribution in case of production cutbacks:

(a)  the amount of any compensatory amount which has become required during the fiscal year ending at the date of the valuation, under an agreement mentioned in section 29;

(b)  the amortization period and amount of each payment of the compensatory amount, determined in accordance with section 30;

(c)  the amount of the contribution in case of production cutbacks payable to each affected component for the fiscal year following the date of the valuation;

(10)  for the report as at 31 December 2019, the supplementary sum payable to each of the affected components for the fiscal years ending on 31 December 2021 and 31 December 2022;

(11)  each amount not required under this Regulation - or under the equivalent provisions of the applicable Ontario legislation - that must be indicated in the report in accordance with section 54 as well as the total of any such amounts.

Furthermore, the global report must contain:

(1)  the name of any pension plan to which the provisions of this Regulation have ceased to apply at the valuation date as well as the number assigned to it by the Régie;

(2)  the name of any pension plan to which the provisions of this Regulation apply on the date the plan is terminated, the date of termination and the number assigned to the plan by the Régie;

(3)  the amount of the supplement to the basic amortization payment that must be paid into each of the affected components for the fiscal year following the date of the valuation and the total of all such amounts.

Moreover, the global report must contain the information required for the annual combined report provided for under the applicable Ontario legislation.

O.C. 856-2011, s. 45; O.C. 299-2014, s. 11.

2012-09-01

45. For each pension plan registered with the Régie having an affected component at the date of the actuarial valuation, the global report must contain the statements of the actuary provided for in the section of the standards of practice of the Canadian Institute of Actuaries to which section 4 of the Regulation respecting supplemental pension plans (chapter R-15.1, r. 6) refers, and the following information:

(1)  the amount of the assets of the affected component, determined on a solvency basis without taking into account section 6, as well as the amount of the liabilities determined on that basis;

(2)  the amount of the assets of the affected component, determined in accordance with the first paragraph of section 6;

(3)  the amount of the technical actuarial deficiency of the affected component, determined in accordance with section 11;

(4)  the degree of solvency of the affected component, determined in accordance with section 22;

(5)  for the report as at 31 December 2011 and following:

(a)  the overall degree of solvency at the date of the valuation as well as the overall target degree of solvency at that date and at each date of the end of the fiscal year through 31 December 2019;

(b)  the amount of the contributions provided for under Division IV that were excluded from the assets of the affected components for the purpose of determining the overall degree of solvency at the date of the valuation;

(c)  up to and including the report at 31 December 2014, a mention of the corrective measures that must be taken in accordance with section 32;

(6)  in respect of the basic amortization payment, for each of the last 6 months of the fiscal year following the date of the valuation and each of the subsequent 6 months:

(a)  the amount of the monthly payments that must be made to each of the affected components;

(b)  the total of the monthly payments payable;

(7)  for the report as at 31 December 2012 and following:

(a)  the overall additional amortization payment for the fiscal year following the valuation date and the amount of the additional amortization payment payable to each of the affected components for that fiscal year;

(b)  the amount of AbitibiBowater Inc.'s free cash flow at the date of the valuation;

(8)  for the report as at 31 December 2015 and following:

(a)  the overall supplementary sum for the fiscal year following the valuation date and the amount of the payments determined in accordance with section 23 or 24 payable during each of the two subsequent fiscal years with respect to a payment deficiency;

(b)  the amount of the supplementary sum payable to each of the affected components for the fiscal year following the valuation date;

(c)  the target degree of solvency of the affected component at the valuation date and the shortfall in solvency assets of the affected component at that date;

(d)  for the amount of the payment deficiency:

i.  for each of the affected components, the value of element “B” of section 21, as determined for the purpose of calculating the amount of the payment deficiency for the fiscal year ending at the date of the valuation and the value of elements “C” and “D” used to determine the value of element “B”;

ii.  the value of element “F” and of element “G”, as determined for the purpose of calculating the payment deficiency for the fiscal year ending at the date of the valuation and, for each affected component, the benefits and interest paid in accordance with section 8 during the fiscal year;

iii.  an estimate of the value of elements “B”, “F” and “G” of section 21, as those elements would be determined for the purposes of calculating the amount of the payment deficiency for each of the subsequent fiscal years;

(9)  for the contribution in case of production cutbacks:

(a)  the amount of any compensatory amount which has become required during the fiscal year ending at the date of the valuation, under an agreement mentioned in section 29;

(b)  the amortization period and amount of each payment of the compensatory amount, determined in accordance with section 30;

(c)  the amount of the contribution in case of production cutbacks payable to each affected component for the fiscal year following the date of the valuation;

(10)  for the report as at 31 December 2019, the supplementary sum payable to each of the affected components for the fiscal years ending on 31 December 2021 and 31 December 2022;

(11)  each amount not required under this Regulation - or under the equivalent provisions of the applicable Ontario legislation - that must be indicated in the report in accordance with section 54 as well as the total of any such amounts.

Furthermore, the global report must contain:

(1)  the name of any pension plan to which the provisions of this Regulation have ceased to apply at the valuation date as well as the number assigned to it by the Régie;

(2)  the name of any pension plan to which the provisions of this Regulation apply on the date the plan is terminated, the date of termination and the number assigned to the plan by the Régie;

(3)  the amount of the supplement to the basic amortization payment that must be paid into each of the affected components for the fiscal year following the date of the valuation and the total of all such amounts.

Moreover, the global report must contain the information required for the annual combined report provided for under the applicable Ontario legislation.

O.C. 856-2011, s. 45.