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

Section 64 Disposition versions

2022-04-14

64. The termination report provided for in section 207.2 of the Act must contain the following information, subject to the adaptations required in the case of an insured plan or a plan referred to in paragraph 2 of section 116 of the Act:

(1)  the name of the plan and the number assigned to it by Retraite Québec;

(2)  the plan’s termination date;

(3)  the value of the plan’s assets at the date of termination, distributed according to the nature of each element of which it is constituted;

(4)  the employer and member contributions required and those paid for the period between the end of the preceding fiscal year of the plan and the date of termination;

(5)  in the case of a plan is referred to in the second paragraph of section 230.1 of the Act:

(a)  the assets allocated to each group of benefits, determined in accordance with sections 220 to 227 and 230.1 of the Act;

(b)  the share of surplus assets, if any, allocated to each group of benefits and the proportion of the surplus assets at the termination date represented by that share;

(c)  the description of the method used to determine the sums referred to in subparagraphs a and b;

(6)  where required, the assumptions and methods used to determine the value of the assets and the value of the benefits of the plan’s members and beneficiaries;

(7)  the names of the members and beneficiaries affected by the termination, distributed by employer and according to the categories referred to in section 207 of the Act, as well as the nature and value of their benefits at the date of termination;

(8)  in the case of a plan to which Chapter X of the Act applies, the ratio of the value of the assets to the value of the liabilities determined in accordance with section 212.1 of the Act and, in the case of a target-benefit plan, in section 146.89 of the Act, each value being reduced in accordance with section 122.1 of the Act;

(8.1)  if applicable, the amount which must be paid under section 15.0.0.10;

(8.2)  where the plan has surplus assets:

(a)  the plan’s surplus assets at the date of termination and at the latest date at which its value is known;

(b)  the amounts recorded in accordance with section 42.2 of the Act;

(c)  a summary of the provisions of the plan related to the allocation of any surplus assets in case of plan termination;

(d)  a description of the allocation of surplus assets in accordance with section 230.2 of the Act and with the plan provisions;

(e)  the name of each employer who is party to the plan and, for each of them, the surplus assets allocated to the group of benefits connected to each, the portion of the surplus assets granted to each at the dates referred to in subparagraph a and the proportion that such portion represents at the same dates with respect to the total surplus assets of the plan;

(8.3)  where all or a portion of the surplus assets is granted to persons referred to in section 182.2, 240.2, 308.3 or 310.1 of the Act, the actuarial assumptions and methods used to determine the presumed value of their benefits for the purposes of determining their share of the surplus assets;

(8.4)  where a portion of the surplus assets is granted to the members or beneficiaries:

(a)  their names;

(b)  the share that each of them would have received had the surplus assets been allocated at the date of termination;

(c)  an estimate of the share that each will receive, determined at the latest date referred to in subparagraph a of subparagraph 8.2;

(d)  the methods for payment of the surplus assets thus allocated;

(9)  where, with respect to the employer affected by the termination, the contributions paid are less than the contributions required, a mention of the unpaid portion related to employer contributions, member contributions and additional voluntary contributions;

(10)  the debt, if any, of each employer affected by the termination, determined in accordance with section 228 of the Act;

(11)  where, at the date of termination, the assets allocated to a group of benefits of members and beneficiaries affected by the termination is, after reduction of any contribution relative to that group and referred to in section 227 of the Act, less than the value of the benefits of the those members and beneficiaries, the amount of the reduction of benefits that each of them will sustain if the employer’s debt and the unpaid contributions are not collected;

(12)  the list of the payment methods offered to each category of members and beneficiaries affected by the termination;

(13)  a certificate by the author of the report:

(a)  that the report was prepared in conformity with the provisions of the Act and the Regulation;

(b)  where the report must be prepared by an actuary, that it is in conformity with the standards of the Canadian Institute of Actuaries;

(c)  where the report may be prepared by the pension committee, that the author is a member of the committee or that he is mandated by the committee to prepare the report;

(14)  the name of the author of the report, his professional title and the date of signing.

In the case provided for in paragraph 11 of the first paragraph, the value of the benefits of the affected members and beneficiaries shall be distributed in accordance with each item of the payment order provided for in section 218 of the Act, which applies, regarding a target-benefit plan, taking into account paragraph 1 of section 146.96 and section 146.98 of the Act.

The provisions of subparagraphs 5, 7, 8.1 to 8.4, 10 and 11 of the first paragraph do not apply to a target-benefit plan.

O.C. 1158-90, s. 64; O.C. 173-2002, s. 57; O.C. 1073-2009, s. 44; O.C. 1183-2017, s. 44; O.C. 308-2022, s. 53.

2018-01-04

64. The termination report provided for in section 207.2 of the Act must contain the following information, subject to the adaptations required in the case of an insured plan or a plan referred to in paragraph 2 of section 116 of the Act:

(1)  the name of the plan and the number assigned to it by Retraite Québec;

(2)  the plan’s termination date;

(3)  the value of the plan’s assets at the date of termination, distributed according to the nature of each element of which it is constituted;

(4)  the employer and member contributions required and those paid for the period between the end of the preceding fiscal year of the plan and the date of termination;

(5)  in the case of a plan is referred to in the second paragraph of section 230.1 of the Act:

(a)  the assets allocated to each group of benefits, determined in accordance with sections 220 to 227 and 230.1 of the Act;

(b)  the share of surplus assets, if any, allocated to each group of benefits and the proportion of the surplus assets at the termination date represented by that share;

(c)  the description of the method used to determine the sums referred to in subparagraphs a and b;

(6)  where required, the assumptions and methods used to determine the value of the assets and the value of the benefits of the plan’s members and beneficiaries;

(7)  the names of the members and beneficiaries affected by the termination, distributed by employer and according to the categories referred to in section 207 of the Act, as well as the nature and value of their benefits at the date of termination;

(8)  in the case of a plan to which Chapter X of the Act applies, the ratio of the value of the assets to the value of the liabilities determined in accordance with section 212.1 of the Act, each value being reduced in accordance with section 122.1 of the Act;

(8.1)  if applicable, the amount which must be paid under section 15.0.0.10;

(8.2)  where the plan has surplus assets:

(a)  the plan’s surplus assets at the date of termination and at the latest date at which its value is known;

(b)  the amounts recorded in accordance with section 42.2 of the Act;

(c)  a summary of the provisions of the plan related to the allocation of any surplus assets in case of plan termination;

(d)  a description of the allocation of surplus assets in accordance with section 230.2 of the Act and with the plan provisions;

(e)  the name of each employer who is party to the plan and, for each of them, the surplus assets allocated to the group of benefits connected to each, the portion of the surplus assets granted to each at the dates referred to in subparagraph a and the proportion that such portion represents at the same dates with respect to the total surplus assets of the plan;

(8.3)  where all or a portion of the surplus assets is granted to persons referred to in section 182.2, 240.2, 308.3 or 310.1 of the Act, the actuarial assumptions and methods used to determine the presumed value of their benefits for the purposes of determining their share of the surplus assets;

(8.4)  where a portion of the surplus assets is granted to the members or beneficiaries:

(a)  their names;

(b)  the share that each of them would have received had the surplus assets been allocated at the date of termination;

(c)  an estimate of the share that each will receive, determined at the latest date referred to in subparagraph a of subparagraph 8.2;

(d)  the methods for payment of the surplus assets thus allocated;

(9)  where, with respect to the employer affected by the termination, the contributions paid are less than the contributions required, a mention of the unpaid portion related to employer contributions, member contributions and additional voluntary contributions;

(10)  the debt, if any, of each employer affected by the termination, determined in accordance with section 228 of the Act;

(11)  where, at the date of termination, the assets allocated to a group of benefits of members and beneficiaries affected by the termination is, after reduction of any contribution relative to that group and referred to in section 227 of the Act, less than the value of the benefits of the those members and beneficiaries, the amount of the reduction of benefits that each of them will sustain if the employer’s debt and the unpaid contributions are not collected;

(12)  the list of the payment methods offered to each category of members and beneficiaries affected by the termination;

(13)  a certificate by the author of the report:

(a)  that the report was prepared in conformity with the provisions of the Act and the Regulation;

(b)  where the report must be prepared by an actuary, that it is in conformity with the standards of the Canadian Institute of Actuaries;

(c)  where the report may be prepared by the pension committee, that the author is a member of the committee or that he is mandated by the committee to prepare the report;

(14)  the name of the author of the report, his professional title and the date of signing.

In the case provided for in paragraph 11 of the first paragraph, the value of the benefits of the affected members and beneficiaries shall be distributed in accordance with each item of the payment order provided for in section 218 of the Act.

O.C. 1158-90, s. 64; O.C. 173-2002, s. 57; O.C. 1073-2009, s. 44; O.C. 1183-2017, s. 44.

2016-01-01

64. The termination report provided for in section 207.2 of the Act must contain the following information, subject to the adaptations required in the case of an insured plan or a plan referred to in paragraph 2 of section 116 of the Act:

(1)  the name of the plan and the number assigned to it by Retraite Québec;

(2)  the plan’s termination date;

(3)  the value of the plan’s assets at the date of termination, distributed according to the nature of each element of which it is constituted;

(4)  the employer and member contributions required and those paid for the period between the end of the preceding fiscal year of the plan and the date of termination;

(5)  in the case of a plan is referred to in the second paragraph of section 230.0.1 of the Act:

(a)  the assets allocated to each group of benefits, determined in accordance with sections 220 to 227 and 230.0.1 of the Act;

(b)  the share of surplus assets, if any, allocated to each group of benefits and the proportion of the surplus assets at the termination date represented by that share;

(c)  the description of the method used to determine the sums referred to in subparagraphs a and b;

(6)  where required, the assumptions and methods used to determine the value of the assets and the value of the benefits of the plan’s members and beneficiaries;

(7)  the names of the members and beneficiaries affected by the termination, distributed by employer and according to the categories referred to in section 207 of the Act, as well as the nature and value of their benefits at the date of termination;

(8)  in the case of a plan to which Chapter X of the Act applies, the ratio of the value of the assets to the value of liabilities determined in accordance with section 212.1 of the Act, each value being reduced by an amount representing the sum of the following values:

(a)  the value of additional voluntary contributions paid into the pension fund, with interest accrued;

(b)  the value of contributions paid into the pension fund under provisions that, in a defined benefit plan, are identical to the provisions of a defined contribution plan, with interest accrued;

(c)  the value of the sums received by the plan following a transfer even not covered by Chapter VII of the Act, with interest accrued;

(8.1)  if applicable, the amount which must be paid under section 15.0.0.10;

(9)  where, with respect to the employer affected by the termination, the contributions paid are less than the contributions required, a mention of the unpaid portion related to employer contributions, member contributions and additional voluntary contributions;

(10)  the debt, if any, of each employer affected by the termination, determined in accordance with section 228 of the Act;

(11)  where, at the date of termination, the assets allocated to a group of benefits of members and beneficiaries affected by the termination is, after reduction of any contribution relative to that group and referred to in section 227 of the Act, less than the value of the benefits of the those members and beneficiaries, the amount of the reduction of benefits that each of them will sustain if the employer’s debt and the unpaid contributions are not collected;

(12)  the list of the payment methods offered to each category of members and beneficiaries affected by the termination;

(13)  a certificate by the author of the report:

(a)  that the report was prepared in conformity with the provisions of the Act and the Regulation;

(b)  where the report must be prepared by an actuary, that it is in conformity with the standards of the Canadian Institute of Actuaries;

(c)  where the report may be prepared by the pension committee, that the author is a member of the committee or that he is mandated by the committee to prepare the report;

(14)  the name of the author of the report, his professional title and the date of signing.

In the case provided for in paragraph 11 of the first paragraph, the value of the benefits of the affected members and beneficiaries shall be distributed in accordance with each item of the payment order provided for in section 218 of the Act.

O.C. 1158-90, s. 64; O.C. 173-2002, s. 57; O.C. 1073-2009, s. 44.

2012-09-01

64. The termination report provided for in section 207.2 of the Act must contain the following information, subject to the adaptations required in the case of an insured plan or a plan referred to in paragraph 2 of section 116 of the Act:

(1)  the name of the plan and the number assigned to it by the Régie;

(2)  the plan’s termination date;

(3)  the value of the plan’s assets at the date of termination, distributed according to the nature of each element of which it is constituted;

(4)  the employer and member contributions required and those paid for the period between the end of the preceding fiscal year of the plan and the date of termination;

(5)  in the case of a plan is referred to in the second paragraph of section 230.0.1 of the Act:

(a)  the assets allocated to each group of benefits, determined in accordance with sections 220 to 227 and 230.0.1 of the Act;

(b)  the share of surplus assets, if any, allocated to each group of benefits and the proportion of the surplus assets at the termination date represented by that share;

(c)  the description of the method used to determine the sums referred to in subparagraphs a and b;

(6)  where required, the assumptions and methods used to determine the value of the assets and the value of the benefits of the plan’s members and beneficiaries;

(7)  the names of the members and beneficiaries affected by the termination, distributed by employer and according to the categories referred to in section 207 of the Act, as well as the nature and value of their benefits at the date of termination;

(8)  in the case of a plan to which Chapter X of the Act applies, the ratio of the value of the assets to the value of liabilities determined in accordance with section 212.1 of the Act, each value being reduced by an amount representing the sum of the following values:

(a)  the value of additional voluntary contributions paid into the pension fund, with interest accrued;

(b)  the value of contributions paid into the pension fund under provisions that, in a defined benefit plan, are identical to the provisions of a defined contribution plan, with interest accrued;

(c)  the value of the sums received by the plan following a transfer even not covered by Chapter VII of the Act, with interest accrued;

(8.1)  if applicable, the amount which must be paid under section 15.0.0.10;

(9)  where, with respect to the employer affected by the termination, the contributions paid are less than the contributions required, a mention of the unpaid portion related to employer contributions, member contributions and additional voluntary contributions;

(10)  the debt, if any, of each employer affected by the termination, determined in accordance with section 228 of the Act;

(11)  where, at the date of termination, the assets allocated to a group of benefits of members and beneficiaries affected by the termination is, after reduction of any contribution relative to that group and referred to in section 227 of the Act, less than the value of the benefits of the those members and beneficiaries, the amount of the reduction of benefits that each of them will sustain if the employer’s debt and the unpaid contributions are not collected;

(12)  the list of the payment methods offered to each category of members and beneficiaries affected by the termination;

(13)  a certificate by the author of the report:

(a)  that the report was prepared in conformity with the provisions of the Act and the Regulation;

(b)  where the report must be prepared by an actuary, that it is in conformity with the standards of the Canadian Institute of Actuaries;

(c)  where the report may be prepared by the pension committee, that the author is a member of the committee or that he is mandated by the committee to prepare the report;

(14)  the name of the author of the report, his professional title and the date of signing.

In the case provided for in paragraph 11 of the first paragraph, the value of the benefits of the affected members and beneficiaries shall be distributed in accordance with each item of the payment order provided for in section 218 of the Act.

O.C. 1158-90, s. 64; O.C. 173-2002, s. 57; O.C. 1073-2009, s. 44.