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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 60
Disposition versions
60. The target degree of solvency of an affected component resulting from the division of the assets and liabilities of a pension plan is determined by increasing, at the dates and to the extent provided for in paragraph 1 to 8 of section 15, the degree of solvency at 31 December 2010 of the corresponding plan that would have resulted from the division of the assets and liabilities of the plan immediately prior to that date, by the same proportion as that by which the assets and liabilities of the plan were in fact divided.
However, the target degree of solvency of an affected component resulting from a division may only be determined in accordance with the first paragraph if the actuary certifies that no element significantly distorts the approximation allowed under that paragraph. In the absence of such a certification, the target degree of solvency of the affected component is determined in accordance with the rules set by Retraite Québec.
The target degree of solvency of the affected component resulting from the merger of all or part of the assets and liabilities of several pension plans into a single plan is determined by increasing, at the dates and to the extent provided for under paragraphs 1 to 8 of section 15, the degree of solvency at 31 December 2010 of the plan that would have resulted from the merger of the plans immediately prior to that date.
The target degree of solvency of an affected component resulting from a merger or division may not, however, exceed 100%.
60. The target degree of solvency of an affected component resulting from the division of the assets and liabilities of a pension plan is determined by increasing, at the dates and to the extent provided for in paragraph 1 to 8 of section 15, the degree of solvency at 31 December 2010 of the corresponding plan that would have resulted from the division of the assets and liabilities of the plan immediately prior to that date, by the same proportion as that by which the assets and liabilities of the plan were in fact divided.
However, the target degree of solvency of an affected component resulting from a division may only be determined in accordance with the first paragraph if the actuary certifies that no element significantly distorts the approximation allowed under that paragraph. In the absence of such a certification, the target degree of solvency of the affected component is determined in accordance with the rules set by the Régie.
The target degree of solvency of the affected component resulting from the merger of all or part of the assets and liabilities of several pension plans into a single plan is determined by increasing, at the dates and to the extent provided for under paragraphs 1 to 8 of section 15, the degree of solvency at 31 December 2010 of the plan that would have resulted from the merger of the plans immediately prior to that date.
The target degree of solvency of an affected component resulting from a merger or division may not, however, exceed 100%.
