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

Section 15.0.0.10 Disposition versions

2012-09-01

15.0.0.10. Without prejudice to the provisions of section 15.0.0.4, in the event of termination of a pension plan, the pension committee must, within the time prescribed in the first paragraph of section 207.2 of the Act and after a 10-day notice to the employer, request the payment of the letter of credit up to the amount by which the plan’s liabilities exceed the assets at the termination date, increased by the interest calculated at the rate determined pursuant to section 61 of the Act and that applied on that date.

The pension committee must agree to the cancellation of the letter of credit for the amount remaining to be paid.

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