R-15.1 - Supplemental Pension Plans Act

Section 146.98 Disposition versions

2020-12-11

146.98. If, in the event of the termination of a pension plan, there remains a balance following payment of the benefits referred to in subparagraph 2 of the first paragraph of section 218, the balance must be appropriated to the restoration of benefits that were reduced, if applicable, up to the benefits target. If there are insufficient assets to restore all the reduced benefits, benefits are restored proportionately to the value of the reduced benefits.

If there are sufficient assets to pay all the benefits according to the benefit target and there remains a balance, the balance must be allocated to the members and beneficiaries proportionately to the value of their benefits restored in accordance with the first paragraph.

2020, c. 30, s. 61.