R-15.1 - Supplemental Pension Plans Act

Section 146.55 Disposition versions

2020-12-11

146.55. A target benefit pension plan may be established only if the eligible employees consent to the obligations incumbent on them under the plan.

Likewise, a plan amendment resulting in an increase in member contributions may be made only if the members subject to the increase consent to it, unless the amendment

(1)  results from the application of recovery measures;

(2)  is submitted for a consultation pursuant to section 146.3 or 146.87;

(3)  is made for the withdrawal of an employer or a cessation of eligibility considered a withdrawal of an employer under section 146.93; or

(4)  has been made mandatory by a new legislative or regulatory provision.

Approval in writing of the plan’s establishment or amendment, as the case may be, by a certified association constitutes consent of the eligible employees or the members concerned that it represents.

For the employees eligible for membership under the plan or the members concerned who are not represented by such an association, their consent is deemed obtained if less than 30% of them oppose the plan’s establishment or amendment, as the case may be. The second and third paragraphs of section 146.87 apply, with the necessary modifications, to the consultation required to obtain the consents.

2020, c. 30, s. 61.