R-15.1 - Supplemental Pension Plans Act

Section 119 Disposition versions

2020-12-11

119. The pension committee must transmit a report to Retraite Québec on every actuarial valuation referred to in section 118

(0.1)  not later than the expiry of the time granted under section 25 for filing the application for registration of the plan in the case of an actuarial valuation required under subparagraph 1 of the first paragraph of section 118;

(1)  within nine months after the date of the actuarial valuation in the case of an actuarial valuation required under one of the following provisions of that section:

(a)  subparagraph 2 of the first paragraph or the second paragraph;

(b)  subparagraph 3 of the first paragraph, for the payment of benefits in accordance with the plan’s annuity purchasing policy;

(c)  subparagraph 4 of the first paragraph, in relation to an amendment to the plan; no such report may, however, be required before the expiry of nine months following the date the amendment is made; or

(d)  subparagraph 5 of the first paragraph, in the case of an appropriation of surplus assets;

(1.1)  (subparagraph replaced);

(2)  within the time fixed by Retraite Québec, which shall be at least 60 days, in the case of an actuarial valuation required under subparagraph 6 of the first paragraph of that section.

A report on an actuarial valuation not referred to in section 118 must be transmitted to Retraite Québec within nine months after the date of the actuarial valuation.

All reports on a complete actuarial valuation transmitted to Retraite Québec must be accompanied by a summary drawn up on the form provided by Retraite Québec, along with the attestations and documents mentioned in the form.

1989, c. 38, s. 119; 2000, c. 41, s. 77; 2006, c. 42, s. 11; 2009, c. 1, s. 4; 2015, c. 20, s. 61; 2015, c. 29, s. 20; 2020, c. 30, s. 37.

2016-01-01

119. The pension committee must transmit a report to Retraite Québec on every actuarial valuation referred to in section 118

(0.1)  not later than the expiry of the time granted under section 25 for filing the application for registration of the plan in the case of an actuarial valuation required under subparagraph 1 of the first paragraph of section 118;

(1)  within nine months after the date of the actuarial valuation in the case of an actuarial valuation required under subparagraph 2, 4 or 5 of the first paragraph or the second paragraph of that section; or

(1.1)  within four months after the date of the actuarial valuation in the case of an actuarial valuation required under subparagraph 3 of the first paragraph of that section;

(2)  within the time fixed by Retraite Québec, which shall be at least 60 days, in the case of an actuarial valuation required under subparagraph 6 of the first paragraph of that section.

A report on an actuarial valuation not referred to in section 118 must be transmitted to Retraite Québec within nine months after the date of the actuarial valuation.

All reports on an actuarial valuation transmitted to Retraite Québec must be accompanied by a summary drawn up on the form provided by Retraite Québec, along with the attestations and documents mentioned in the form.

1989, c. 38, s. 119; 2000, c. 41, s. 77; 2006, c. 42, s. 11; 2009, c. 1, s. 4; 2015, c. 20, s. 61; 2015, c. 29, s. 20.

2010-01-01

119. The pension committee must transmit a report to the Régie on every actuarial valuation referred to in section 118

(1)  within nine months after the date of the actuarial valuation in the case of an actuarial valuation required under subparagraph 2 of the first paragraph of that section; or

(2)  within the time fixed by the Régie, which shall be at least 60 days, in the case of an actuarial valuation required under subparagraph 3 of the first paragraph of that section.

A report on an actuarial valuation not referred to in section 118 must be transmitted to the Régie within nine months after the date of the actuarial valuation.

All reports on an actuarial valuation transmitted to the Régie must be accompanied by a summary drawn up on the form provided by the Régie, along with the attestations and documents mentioned in the form.

1989, c. 38, s. 119; 2000, c. 41, s. 77; 2006, c. 42, s. 11; 2009, c. 1, s. 4.

2001-01-01

119. The pension committee shall cause a report of every actuarial valuation of the pension plan to be prepared by an actuary. The report shall contain, in addition to the information prescribed by regulation, a declaration by the actuary attesting, in particular, that the actuarial valuation is in conformity with the funding and solvency standards prescribed by this Act.

Unless the Régie grants an extension, the pension committee shall transmit every actuarial valuation report to the Régie

(1)  within nine months after the date of the actuarial valuation in the case of an actuarial valuation required under paragraph 3 of section 118 or an actuarial valuation other than an actuarial valuation required under section 118; and

(2)  within the time fixed by the Régie, which shall be at least 60 days, in the case of an actuarial valuation required under paragraph 4 of section 118.

The funding of a pension plan cannot be based on an actuarial valuation report until such time as the report has been transmitted to the Régie. In addition, a report that has been transmitted to the Régie can only be amended or replaced at the request or with the authorization of and subject to the conditions fixed by the Régie.

1989, c. 38, s. 119; 2000, c. 41, s. 77.

1999-04-01

119. The pension committee shall cause a report of every actuarial valuation of the pension plan to be prepared by an actuary. The report shall contain, in addition to the information prescribed by regulation, a declaration by the actuary attesting, in particular, that the plan is in conformity with the funding and solvency standards prescribed by this Act.

Unless the Régie grants an extension, the pension committee shall transmit the report to the Régie within six months after the end of the fiscal year of the plan or after the date fixed by the Régie, according as the report pertains to an actuarial valuation required under paragraph 3 or under paragraph 4 of section 118.

1989, c. 38, s. 119.