R-15.1 - Supplemental Pension Plans Act

Section 228 Disposition versions

2001-01-01

228. The amount to be funded to ensure full payment of the benefits of the members or beneficiaries affected by the withdrawal of an employer from a multi-employer pension plan or the termination of a pension plan shall constitute a debt of the employer. The amount to be funded shall be established at the date of termination.

If, at the date of termination, the employer has failed to pay contributions into the pension fund or to the insurer, as the case may be, the debt shall be the amount by which the amount to be funded exceeds such contributions.

In the case of a multi-employer plan, this section applies to every employer who is a party to the plan and to whom a group of benefits under subdivision 3 consisting of the benefits of the members or beneficiaries affected by the withdrawal or termination pertains.

1989, c. 38, s. 228; 1992, c. 60, s. 33; 2000, c. 41, s. 133.

1999-04-01

228. The amount to be funded to ensure full payment of the benefits of the members or beneficiaries affected by the total termination of a pension plan or partial termination of a multi-employer plan due to the withdrawal of an employer who was a party to the plan shall constitute a debt of the employer.

The amount to be funded to ensure full payment of the benefits of the members or beneficiaries affected by the partial termination of a plan not exempt from the provisions of sections 220 to 227, except a partial termination to which the first paragraph applies, shall be paid by the employer into the pension fund as though it were an amount determined pursuant to subparagraph 4 of the second paragraph of section 137, subject to the first paragraph of section 229 as to spreading the payment.

If, at the date of termination, the employer has failed to pay contributions into the pension fund or to the insurer, as the case may be, the debt shall be the amount by which the amount to be funded exceeds such contributions.

In the case of a multi-employer plan, this section applies to every employer who is a party to the plan and to whom a group of benefits under subdivision 3 consisting of the benefits of the members or beneficiaries affected by the termination pertains.

1989, c. 38, s. 228; 1992, c. 60, s. 33.

1990-01-01

228. In the event of total or partial termination of a pension plan, the amount to be funded to ensure the full payment of all the benefits of the members or beneficiaries affected by the termination shall constitute a debt of the employer.

If, at the date of termination, the employer has failed to pay contributions into the pension fund or to the insurer, as the case may be, the debt shall be the amount by which the amount to be funded exceeds such contributions.

In the case of a multi-employer plan, this section applies to every employer who is a party to the plan and to whom a group of benefits under subdivision 3 consisting of the benefits of the members or beneficiaries affected by the termination pertains.

1989, c. 38, s. 228.