R-15.1, r. 6 - Regulation respecting supplemental pension plans

Section 15.0.0.6 Disposition versions

2018-01-04

15.0.0.6. Where the plan’s assets alone exceed the amounts determined in accordance with subparagraphs a and b of subparagraph 2 of section 15.0.0.4, the reduction provided for under subparagraph 2 cannot be greater that the lesser of the two excess amounts.

If the amount of the letter of credit may be reduced under the provisions of both section 15.0.0.5 and this section, the reduction requested must be carried out in accordance with section 15.0.0.5.

O.C. 1073-2009, s. 5; O.C. 1183-2017, s. 9.

2012-09-01

15.0.0.6. Where the plan’s assets alone exceeds the liabilities increased by the provision for adverse deviation, the reduction provided for in paragraph 2 of section 15.0.0.4 may not be greater than that excess amount.

However, if the employer appropriates all or part of the excess assets to the payment of employer contributions, the maximum amount of that reduction is equal to the remaining assets after deduction from the liabilities of the provision for adverse deviation and the total amounts indicated in a written notice that the employer must send to the pension committee with the reduction request and in which the employer specifies

(1)  the amount that will be appropriated to the payment of employer contributions for the period comprised between the date of the latest actuarial valuation of the plan and the date on which the first fiscal year of the plan ends following the date of that valuation, taking into account section 41 of the Act;

(2)  the amount that will be appropriated to the payment of employer contributions for the first 9 months of the fiscal year that follows the fiscal year referred to in subparagraph 1.

If the amount of the letter of credit may be reduced under the provisions of both section 15.0.0.5 and this section, the reduction requested must be carried out in accordance with section 15.0.0.5.

O.C. 1073-2009, s. 5.