R-15.1 - Supplemental Pension Plans Act

Section 146.44 Disposition versions

2015-04-02

146.44. The provisions of subdivision 4 of Division II of Chapter XIII, concerning the debts of an employer in the event of the withdrawal of the employer or the termination of the plan, apply to negotiated contribution plans only with respect to contributions provided for in the plan that are unpaid at the date of the withdrawal or termination.

However, an employer may, before the date of payment, pay into the pension fund an additional amount to cover all or part of the amount to be funded to ensure full payment of the benefits of the members or beneficiaries affected by the withdrawal of an employer or the termination of a pension plan.

The amounts paid by an employer under the second paragraph must be applied to paying the benefits of the members or beneficiaries which relate to that employer.

2015, c. 7, s. 1.