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R-15.1 - Supplemental Pension Plans Act

Section 248
Disposition versions

Full text
248. Retraite Québec may make an order directing the pension committee, the person exercising a delegated power or any party to the pension plan to take any remedial measure determined by Retraite Québec within the time and on the conditions it fixes, where it is of the opinion that
(1)  his or its action is contrary to sound financial practices;
(2)  the assumptions, methods or scenarios used
 — for the actuarial valuation of the plan,
 — for the fixing of the interest rate applicable to contributions, or
 — in the preparation of a report or any other document required by Retraite Québec,
do not accord with generally accepted actuarial or accounting principles;
(3)  the assumptions, methods or scenarios used are inappropriate for the type of plan concerned or in view of its obligations, the financial position of the pension fund or the investment policy;
(4)  (subparagraph repealed);
(5)  the pension plan or its administration is not in compliance with this Act, for instance by reason of the fact that the plan is not being wound up in accordance with the provisions of Chapter XIII; or
(6)  the content of a document provided for in this Act or required by Retraite Québec is not in compliance with the requirements of this Act or of Retraite Québec.
In addition, if Retraite Québec considers it necessary in the best interests of the members and beneficiaries, it may order any person who has custody, possession or control of funds, securities or other assets of a pension plan not to dispose of them without the authorization of Retraite Québec or otherwise than in accordance with the conditions it fixes.
1989, c. 38, s. 248; 2000, c. 41, s. 164; 2006, c. 42, s. 41; 2015, c. 20, s. 61; 2015, c. 29, s. 69.
248. The Régie may make an order directing the pension committee, the person exercising a delegated power or any party to the pension plan to take any remedial measure determined by the Régie within the time and on the conditions it fixes, where it is of the opinion that
(1)  his or its action is contrary to sound financial practices;
(2)  the assumptions, methods or scenarios used
 — for the actuarial valuation of the plan,
 — for the fixing of the interest rate applicable to contributions, or
 — in the preparation of a report or any other document required by the Régie,
do not accord with generally accepted actuarial or accounting principles;
(3)  the assumptions, methods or scenarios used are inappropriate for the type of plan concerned or in view of its obligations, the financial position of the pension fund or the investment policy;
(4)  (subparagraph repealed);
(5)  the pension plan or its administration is not in compliance with this Act, for instance by reason of the fact that the plan is not being wound up in accordance with the provisions of Chapter XIII or Chapter XIV.1; or
(6)  the content of a document provided for in this Act or required by the Régie is not in compliance with the requirements of this Act or of the Régie.
In addition, if the Régie considers it necessary in the best interests of the members and beneficiaries, it may order any person who has custody, possession or control of funds, securities or other assets of a pension plan not to dispose of them without the authorization of the Régie or otherwise than in accordance with the conditions it fixes.
1989, c. 38, s. 248; 2000, c. 41, s. 164; 2006, c. 42, s. 41.
248. The Régie may make an order directing the pension committee, the person exercising a delegated power or any party to the pension plan to take any remedial measure determined by the Régie within the time and on the conditions it fixes, where it is of the opinion that
(1)  his or its action is contrary to sound financial practices;
(2)  the assumptions, methods or scenarios used
 — for the actuarial valuation of the plan,
 — for the fixing of the interest rate applicable to contributions, or
 — in the preparation of a report or any other document required by the Régie,
do not accord with generally accepted actuarial or accounting principles;
(3)  the assumptions, methods or scenarios used are inappropriate for the type of plan concerned or in view of its obligations, the financial position of the pension fund or the investment policy;
(4)  the corrective measures transmitted by the pension committee under section 135 will not allow amortization of an unfunded actuarial liability within the period initially fixed;
(5)  the pension plan or its administration is not in compliance with this Act, for instance by reason of the fact that the plan is not being wound up in accordance with the provisions of Chapter XIII or Chapter XIV.1; or
(6)  the content of a document provided for in this Act or required by the Régie is not in compliance with the requirements of this Act or of the Régie.
In addition, if the Régie considers it necessary in the best interests of the members and beneficiaries, it may order any person who has custody, possession or control of funds, securities or other assets of a pension plan not to dispose of them without the authorization of the Régie or otherwise than in accordance with the conditions it fixes.
1989, c. 38, s. 248; 2000, c. 41, s. 164.
248. The Régie may make an order directing the pension committee, the person exercising a delegated power or any party to the pension plan to take any remedial measure determined by the Régie within the time and on the conditions it fixes, where it is of the opinion that
(1)  his or its action is contrary to sound financial practices;
(2)  the assumptions or methods used
 — for the actuarial valuation of the plan,
 — for the determination of the value referred to in section 60,
 — for the fixing of the interest rate applicable to contributions, or
 — in the preparation of the termination report or any other document required by the Régie,
 — do not accord with generally accepted actuarial principles;
(3)  the assumptions or methods used are inappropriate for the type of plan concerned or in view of its obligations, the financial position of the pension fund or the investment policy;
(4)  the corrective measures transmitted by the pension committee under section 135 will not allow amortization of an unfunded actuarial liability within the period initially fixed;
(5)  the pension plan or its administration is not in compliance with this Act, for instance by reason of the fact that the plan is not being wound up in accordance with the provisions of Chapter XIII or Chapter XIV.1; or
(6)  the content of a document provided for in this Act or required by the Régie is not in compliance with the requirements of this Act or of the Régie.
In addition, if the Régie considers it necessary in the best interests of the members and beneficiaries, it may order any person who has custody, possession or control of funds, securities or other assets of a pension plan not to dispose of them without the authorization of the Régie or otherwise than in accordance with the conditions it fixes.
1989, c. 38, s. 248; 2000, c. 41, s. 164.
248. The Régie may make an order directing the pension committee, the person exercising a delegated power or any party to the pension plan to take any remedial measure determined by the Régie within the time and on the conditions it fixes, where it is of the opinion that
(1)  his or its action is contrary to sound financial practices;
(2)  the assumptions or methods used
 — for the actuarial valuation of the plan,
 — for the determination of the value referred to in section 60,
 — for the fixing of the interest rate applicable to contributions, or
 — in the preparation of the termination report or any other document required by the Régie,
 — do not accord with generally accepted actuarial principles;
(3)  the assumptions or methods used are inappropriate for the type of plan concerned or in view of its obligations, the financial position of the pension fund or the investment policy;
(4)  the corrective measures transmitted by the pension committee under section 135 will not allow amortization of an unfunded actuarial liability within the period initially fixed.
1989, c. 38, s. 248.
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