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R-15.1 - Supplemental Pension Plans Act

Section 202
Disposition versions

Full text
202. Within 60 days after the application for registration is filed with Retraite Québec, the pension committee shall require the withdrawing employer to pay any contribution the employer has failed to pay into the pension fund or, as the case may be, to the insurer.
Within the same time or within such additional time as Retraite Québec may grant, the pension committee shall file with Retraite Québec a report establishing the benefits accrued to each member and beneficiary affected and the value thereof, and containing the information prescribed by regulation. The report must be prepared by an actuary. The value of the benefits accrued to the members and beneficiaries must be determined at the effective date of the amendment allowing for the withdrawal of the employer or, with the authorization of and subject to the conditions determined by Retraite Québec, at the date of the next full actuarial valuation of the plan.
If, within the time prescribed in the second paragraph, the pension committee sends a notice to Retraite Québec certifying that the employer has paid all unpaid contributions in full and, where Chapter X applies to the pension plan, a declaration of an actuary attesting that the plan is solvent at the effective date of the amendment, the pension committee is dispensed from filing the report provided for in the second paragraph. The exemption does not apply to target benefit pension plans.
1989, c. 38, s. 202; 1992, c. 60, s. 18; 2000, c. 41, s. 114; 2015, c. 20, s. 61; 2020, c. 30, s. 72.
202. Within 60 days after the application for registration is filed with Retraite Québec, the pension committee shall require the withdrawing employer to pay any contribution the employer has failed to pay into the pension fund or, as the case may be, to the insurer.
Within the same time or within such additional time as Retraite Québec may grant, the pension committee shall file with Retraite Québec a report establishing the benefits accrued to each member and beneficiary affected and the value thereof, and containing the information prescribed by regulation. The report must be prepared by an actuary; in the case of a plan referred to in paragraph 2 of section 116, it can be prepared by the pension committee. The value of the benefits accrued to the members and beneficiaries must be determined at the effective date of the amendment allowing for the withdrawal of the employer or, with the authorization of and subject to the conditions determined by Retraite Québec, at the date of the next full actuarial valuation of the plan.
If, within the time prescribed in the second paragraph, the pension committee sends a notice to Retraite Québec certifying that the employer has paid all unpaid contributions in full and, where Chapter X applies to the pension plan, a declaration of an actuary attesting that the plan is solvent at the effective date of the amendment, the pension committee is dispensed from filing the report provided for in the second paragraph.
1989, c. 38, s. 202; 1992, c. 60, s. 18; 2000, c. 41, s. 114; 2015, c. 20, s. 61.
202. Within 60 days after the application for registration is filed with the Régie, the pension committee shall require the withdrawing employer to pay any contribution the employer has failed to pay into the pension fund or, as the case may be, to the insurer.
Within the same time or within such additional time as the Régie may grant, the pension committee shall file with the Régie a report establishing the benefits accrued to each member and beneficiary affected and the value thereof, and containing the information prescribed by regulation. The report must be prepared by an actuary; in the case of a plan referred to in paragraph 2 of section 116, it can be prepared by the pension committee. The value of the benefits accrued to the members and beneficiaries must be determined at the effective date of the amendment allowing for the withdrawal of the employer or, with the authorization of and subject to the conditions determined by the Régie, at the date of the next full actuarial valuation of the plan.
If, within the time prescribed in the second paragraph, the pension committee sends a notice to the Régie certifying that the employer has paid all unpaid contributions in full and, where Chapter X applies to the pension plan, a declaration of an actuary attesting that the plan is solvent at the effective date of the amendment, the pension committee is dispensed from filing the report provided for in the second paragraph.
1989, c. 38, s. 202; 1992, c. 60, s. 18; 2000, c. 41, s. 114.
202. Within 60 days after the date of receipt of a decision of the Régie relating to a notice of termination or terminating a pension plan or within such extension of time as may be granted by the Régie, the pension committee shall cause a draft termination report to be prepared, for approval by the Régie, establishing, in particular, the benefits of each member or beneficiary affected and the value of such benefits, and containing the information prescribed by regulation. In addition, where the provisions of subdivision 4.1 of Division II of Chapter XIII must be applied in order to determine to whom the surplus assets are to be allocated, the draft report shall mention, in respect of that surplus, only the amount thereof. The draft report shall be prepared by an actuary. In the case of a defined contribution plan, it may be prepared by an accountant and, in the case of an insured plan, by the insurer.
The pension committee shall also, within the same time limit, obtain the opinion of the Régie as to the conformity of the draft report with this Act. If applicable, the Régie shall send a notice of conformity to the pension committee.
1989, c. 38, s. 202; 1992, c. 60, s. 18.
202. Within 60 days after the date of receipt of a decision of the Régie relating to a notice of termination or terminating a pension plan or within such extension of time as may be granted by the Régie, the pension committee shall cause a draft termination report to be prepared, for approval by the Régie, establishing, in particular, the benefits of each member or beneficiary affected and the value of such benefits, and containing the information prescribed by regulation. The draft report shall be prepared by an actuary. In the case of a defined contribution plan, it may be prepared by an accountant and, in the case of an insured plan, by the insurer.
The pension committee shall also, within the same time limit, obtain the opinion of the Régie as to the conformity of the draft report with this Act. If applicable, the Régie shall send a notice of conformity to the pension committee.
1989, c. 38, s. 202.
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