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

Section 59.0.2 Disposition versions

2022-04-14

59.0.2. The second part of an annual statement referred to in section 112 of the Act shall, where the statement is sent to a member or beneficiary of a pension plan to which chapter X of the Act applies, contain the following information:

(1)  the degree of funding of the pension plan determined at the date of the most recent actuarial valuation of the plan and the degree of solvency of the plan determined at that date or, if it is more recent, at the date the notice referred to under section 119.1 of the Act;

(1.1)  the target level of the stabilization provision of the plan determined at the date of the most recent actuarial valuation of the plan;

(2)  the maximum amount of the surplus assets determined in accordance with section 146.7 of the Act, at the date of the most recent actuarial valuation of the plan, and a description of the procedure for appropriating the surplus assets prescribed by the plan;

(3)  the employer contribution that the employer paid during the fiscal year concerned;

(4)  the member’s current service contributions and amortization payments, or member contributions in the case of a target-benefit plan, paid by the members during the fiscal year concerned;

(4.1)  the amounts recorded in accordance with section 42.2 of the Act, determined as at the date of the most recent actuarial valuation of the plan;

(5)  the portion of the surplus assets used during the fiscal year in accordance with section 146.8 and, as the case may be, section 146.9 of the Act, including how they were appropriated.

If the statement is sent to a member or beneficiary of a target-benefit plan, that part must contain, in addition to the information referred to in subparagraphs 1, 1.1, 3 and 4 of the first paragraph:

(1)  a description of the benefit target;

(2)  a description of the circumstances, set by the plan, giving rise to the application of recovery measures, the restoration of benefits and the appropriation of surplus assets;

(3)  a description of any adjustment to the benefits and contributions that applied during the fiscal year covered by the statement:

(a)  following the application of recovery measures;

(b)  following the restoration of benefits;

(c)  following the appropriation of surplus assets, by indicating, where applicable, the portion of surplus assets used in accordance with section 146.9.1.3 of the Act and how they were appropriated;

(4)  a description of any ajustement to the benefits and contributions, provided for in an actuarial valuation on the date of the end of the fiscal year covered by the statement and whose report was sent to Retraite Québec, that results from:

(a)  the application of recovery measures;

(b)  a restoration of benefits;

(c)  the appropriation of surplus assets, by indicating the maximum amount that may be used, determined in accordance with section 146.9.1.2 of the Act, as well as the amount used and the appropriating procedure applicable in accordance with section 146.9.1.3 of the Act.

Where the statement is sent to a member or beneficiary not referred to in the first paragraph, this part must indicate the plan’s surplus assets and the portion thereof used to pay additional obligations arising from an amendment to the plan and to pay the employer contribution during the fiscal year.

O.C. 173-2002, s. 52; O.C. 1183-2017, s. 37; O.C. 1107-2019, s. 17; O.C. 308-2022, s. 44.

2019-12-05

59.0.2. The second part of an annual statement referred to in section 112 of the Act shall, where the statement is sent to a member or beneficiary of a pension plan to which chapter X of the Act applies, contain the following information:

(1)  the degree of funding of the pension plan determined at the date of the most recent actuarial valuation of the plan and the degree of solvency of the plan determined at that date or, if it is more recent, at the date the notice referred to under section 119.1 of the Act;

(1.1)  the target level of the stabilization provision of the plan determined at the date of the most recent actuarial valuation of the plan;

(2)  the lesser of the pension plan’s surplus assets determined on a funding basis and those assets determined on a solvency basis on the occasion the last actuarial valuation of the whole plan;

(3)  the employer contribution that the employer paid during the fiscal year concerned;

(4)  the member’s current service contributions and amortization payments, paid by the members during the fiscal year concerned;

(4.1)  the amounts recorded in accordance with section 42.2 of the Act, determined as at the date of the most recent actuarial valuation of the plan;

(5)  the portion of the surplus assets used during the fiscal year in accordance with section 146.8 and, as the case may be, section 146.9 of the Act, including how they were appropriated.

Where the statement is sent to a member or beneficiary not referred to in the first paragraph, this part must indicate the plan’s surplus assets and the portion thereof used to pay additional obligations arising from an amendment to the plan and to pay the employer contribution during the fiscal year.

O.C. 173-2002, s. 52; O.C. 1183-2017, s. 37; O.C. 1107-2019, s. 17.

2018-01-04

59.0.2. The second part of an annual statement referred to in section 112 of the Act shall, where the statement is sent to a member or beneficiary of a pension plan to which chapter X of the Act applies, contain the following information:

(1)  the degree of funding of the pension plan determined at the date of the most recent complete actuarial valuation of the plan and the degree of solvency of the plan determined at that date or, if it is more recent, at the date the notice referred to under section 119.1 of the Act;

(1.1)  the target level of the stabilization provision of the plan determined at the date of the most recent actuarial valuation of the plan;

(2)  the lesser of the pension plan’s surplus assets determined on a funding basis and those assets determined on a solvency basis on the occasion the last actuarial valuation of the whole plan;

(3)  the employer contribution that the employer paid during the fiscal year concerned;

(4)  the member’s current service contributions and amortization payments, paid by the members during the fiscal year concerned;

(4.1)  the amounts recorded in accordance with section 42.2 of the Act, determined as at the date of the most recent complete actuarial valuation of the plan;

(5)  the portion of the surplus assets used during the fiscal year in accordance with section 146.8 and, as the case may be, section 146.9 of the Act, including how they were appropriated.

Where the statement is sent to a member or beneficiary not referred to in the first paragraph, this part must indicate the plan’s surplus assets and the portion thereof used to pay additional obligations arising from an amendment to the plan and to pay the employer contribution during the fiscal year.

O.C. 173-2002, s. 52; O.C. 1183-2017, s. 37.

2012-09-01

59.0.2. The second part of an annual statement referred to in section 112 of the Act shall, where the statement is sent to a member or beneficiary of a pension plan to which chapter X of the Act applies, contain the following information:

(1)  the degree of solvency of the pension plan determined at the date of the most recent actuarial valuation of the whole plan, and where the degree is less then 100%, the measures taken to bring it up to 100%;

(2)  the lesser of the pension plan’s surplus assets determined on a funding basis and those assets determined on a solvency basis on the occasion the last actuarial valuation of the whole plan;

(3)  the employer contribution that the employer paid during the fiscal year concerned;

(4)  the member contributions paid by the members during the fiscal year concerned;

(5)  the portion of the plan’s excess assets used to pay the employer contribution during the fiscal year and the portion used during that year to fund additional commitments resulting from an amendment to the plan.

Where the statement is sent to a member or beneficiary not referred to in the first paragraph, this part must indicate the plan’s surplus assets and the portion there of used to pay the employer contribution during the fiscal year.

O.C. 173-2002, s. 52.