R-15.1, r. 6.2 - General Regulation respecting supplemental pension plans

Section 56 Disposition versions

2012-09-01

56. In this Division, unless the context indicates otherwise,

(a)  “special deficit” means the amount by which the liabilities of a plan calculated in accordance with section 59 exceed its assets calculated in accordance with section 60;

(b)  “special balance” means on the date of a plan’s valuation, the sum of the balances of all experience deficiencies, or of all parts of such deficiencies, previously determined and the amortization period of which was not to exceed 5 years;

(c)  “final pay plan” means unit benefit plan in which the retirement pension is calculated according to the salary of a determined period in the final years of service, and the number of credited years of service;

(d)  “average best earnings plan” means unit benefit plan in which the retirement pension is calculated according to the highest salary earned during a determined period in the career and to the number of credited years of service.

R.R.Q., 1981, c. R-17, r. 1, s. 56.