R-15.1 - Supplemental Pension Plans Act

Section 135.3 Disposition versions

2010-01-01

135.3. (Replaced).

1998, c. 2, s. 40; 2006, c. 42, s. 11.

1999-04-01

135.3. Notwithstanding section 132, the amortization amounts payable in respect of any initial unfunded actuarial liability or any improvement unfunded actuarial liability may be reduced only to the extent provided for in section 135.4.

Moreover, the amortization amounts payable in respect of any initial unfunded actuarial liability which affects a pension plan subject to this subdivision and for which the amortization period originally fixed by law exceeds 15 years may be increased only to the extent required by section 135.5.

However, no reduction in amortization amounts authorized by this section may be made that would cause an amount payable to be determined pursuant to subparagraph 4 of the second paragraph of section 137 or to be higher than it would have been without the reduction.

1998, c. 2, s. 40.