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 59 Disposition versions

2016-01-01

59. Where a global report has been sent to Retraite Québec indicating that a contribution is to be paid into an affected component concerned by an amendment provided for under section 58 after the date it becomes effective:

(1)  the global report is neither amended nor replaced;

(2)  for the fiscal year following the date of the actuarial valuation mentioned in section 58 and the first 6 months of the subsequent fiscal year, the contributions provided for under Divisions III and IV that an employer must pay into the affected component of a pension plan resulting from the division of the assets and liabilities of a pension plan correspond to element A in the following formula:

A = B × C/D, where:

“B” represents the total of the contributions provided for under Divisions III and IV that would have been payable into the affected component of the pension plan whose assets and liabilities have been divided;

“C” represents the technical actuarial deficiency of the affected component resulting from the division, as at the date of the actuarial valuation that considers the division for the first time;

“D” corresponds to the total of the technical actuarial deficiencies of the affected components resulting from the division, as at the date of the actuarial valuation that considers the division for the first time;

(3)  for the same period, the contributions provided for under Divisions III and IV that an employer must pay into the affected component of a pension plan resulting from a merger under section 58 correspond to the total of the contributions that would have been payable to the affected components of the pension plans that were merged.

O.C. 856-2011, s. 59.

2012-09-01

59. Where a global report has been sent to the Régie indicating that a contribution is to be paid into an affected component concerned by an amendment provided for under section 58 after the date it becomes effective:

(1)  the global report is neither amended nor replaced;

(2)  for the fiscal year following the date of the actuarial valuation mentioned in section 58 and the first 6 months of the subsequent fiscal year, the contributions provided for under Divisions III and IV that an employer must pay into the affected component of a pension plan resulting from the division of the assets and liabilities of a pension plan correspond to element A in the following formula:

A = B × C/D, where:

“B” represents the total of the contributions provided for under Divisions III and IV that would have been payable into the affected component of the pension plan whose assets and liabilities have been divided;

“C” represents the technical actuarial deficiency of the affected component resulting from the division, as at the date of the actuarial valuation that considers the division for the first time;

“D” corresponds to the total of the technical actuarial deficiencies of the affected components resulting from the division, as at the date of the actuarial valuation that considers the division for the first time;

(3)  for the same period, the contributions provided for under Divisions III and IV that an employer must pay into the affected component of a pension plan resulting from a merger under section 58 correspond to the total of the contributions that would have been payable to the affected components of the pension plans that were merged.

O.C. 856-2011, s. 59.