R-17.0.1 - Voluntary Retirement Savings Plans Act

Section 113 Disposition versions

2020-12-11

113. The Government may, by regulation,

(1)  for the purposes of section 3, determine

(a)  the manner of registering a voluntary retirement savings plan and its amendments;

(b)  the documents and information the administrator must file with Retraite Québec; and

(c)  the fees the administrator must deposit with Retraite Québec;

(2)  for the purposes of section 4, determine the information that must be included in the text of the plan;

(3)  for the purposes of section 8, determine the cases in which a plan and its amendments may become effective on a date before the date on which they are registered;

(4)  for the purposes of section 17, prescribe the information that must be included in a contract between the plan administrator and the employer or a member, as the case may be;

(5)  for the purposes of section 19, determine the information that may be contained in the summary the plan administrator transmits to each member whose employer is subscribed to a plan;

(6)  for the purposes of section 21, determine the grounds on which an administrator may refuse the application of an employer or an individual to subscribe to the plan;

(7)  for the purposes of section 23, determine the cases where a plan administrator may give, offer or agree to give or offer an employer an inducement to enter into a contract with the administrator in respect of a voluntary retirement savings plan, the conditions that apply and the type of inducement, if any;

(8)  for the purposes of section 24, prescribe the fees to be paid with the annual statement as well as the information to be presented in the statement of changes in the net assets available for the provision of benefits;

(9)  for the purposes of section 25, determine the criteria to be met by the default investment option as well as the conditions subject to which other investment options may be offered to a member by the plan administrator as a possible investment choice, and the other criteria to be met in determining the investment strategy of these other investment options;

(10)  for the purposes of section 26, determine the circumstances in which the plan administrator may change a member’s investment choices and how such a change is made;

(11)  for the purposes of section 27, establish the criteria for determining if the plan is low cost, as well as the nature or amount of the fees that may be deducted from the return on assets and of the fees that a plan administrator may charge members;

(12)  for the purposes of section 46, determine the information that the agreement must contain;

(13)  for the purposes of section 47, determine the personal information concerning the employees with which the employer will provide the administrator and any other information that may be contained in the notice the employer sends the employees;

(14)  for the purposes of section 50, prescribe the conditions for the payment of the costs related to the transfer of the employee accounts and for the transfer itself;

(15)  for the purposes of section 54, provide the cases in which an employer may demand, accept or agree to accept an inducement from a plan administrator, or offer or agree to offer a plan administrator an inducement, with a view to entering into a contract with the administrator in respect of a voluntary retirement savings plan, the conditions that apply and the type of inducement, if any;

(16)  for the purposes of section 55, set the default contribution rate;

(17)  for the purposes of section 56, determine the conditions under which a member may set a contribution rate at 0%;

(18)  for the purposes of section 60, determine the rate at which and the manner in which the contributions bear interest;

(19)  for the purposes of section 65, determine the other amounts credited to the member’s locked-in and not locked-in accounts;

(20)  for the purposes of sections 67, 69, 72, 78 and 125, determine the pension plans to which the amounts from the locked-in and not locked-in accounts, as the case may be, may be transferred;

(21)  for the purposes of section 68, set the conditions and a percentage other than 20%;

(22)  for the purposes of section 70, regulate variable payments;

(22.1)  for the purposes of section 70.1, regulate variable payment life pensions;

(23)  for the purposes of section 73, determine the details of the benefit payable on the death of a member who was receiving variable payments;

(24)  for the purposes of section 76, determine

(a)  the other information contained in the statement the member and his or her spouse may apply for upon the introduction of an application for separation from bed and board, divorce, annulment of marriage, dissolution or annulment of a civil union or payment of a compensatory allowance;

(b)  the rules according to which the benefits accumulated by the member and their value are established; and

(c)  the information contained in the statement the member and his or her spouse are entitled to receive for the purposes of a pre-hearing mediation;

(25)  for the purposes of section 77, prescribe the manner in which the member’s benefits are partitioned;

(26)  for the purposes of section 78, determine

(a)  the rules governing the partition of the member’s benefits from both the locked-in and the not locked-in accounts;

(b)  the conditions in which the spouse may apply for a refund; and

(c)  the manner in which the benefits awarded to the spouse following a seizure for non-payment of support must be paid;

(27)  for the purposes of section 79, set the limit for the costs and expenses that may be claimed;

(28)  for the purposes of section 84, determine the member’s options for the payment of his or her benefits and the other information the notice may contain;

(29)  for the purposes of section 91, determine the information a plan administrator must file with Retraite Québec after liquidating the plan assets;

(30)  for the purposes of section 95, determine the manner in which a plan administrator must provide members with statements, as well as the information the statements must contain;

(31)  for the purposes of section 97, establish the costs related to an inspection or an inquiry that a plan administrator may charge;

(32)  for the purposes of section 101, determine the information Retraite Québec may post on its website; and

(33)  prescribe any other measure required for the application of this Act.

2013, c. 26, s. 113; 2015, c. 20, s. 61; 2020, c. 30, s. 89.

2016-01-01

113. The Government may, by regulation,

(1)  for the purposes of section 3, determine

(a)  the manner of registering a voluntary retirement savings plan and its amendments;

(b)  the documents and information the administrator must file with Retraite Québec; and

(c)  the fees the administrator must deposit with Retraite Québec;

(2)  for the purposes of section 4, determine the information that must be included in the text of the plan;

(3)  for the purposes of section 8, determine the cases in which a plan and its amendments may become effective on a date before the date on which they are registered;

(4)  for the purposes of section 17, prescribe the information that must be included in a contract between the plan administrator and the employer or a member, as the case may be;

(5)  for the purposes of section 19, determine the information that may be contained in the summary the plan administrator transmits to each member whose employer is subscribed to a plan;

(6)  for the purposes of section 21, determine the grounds on which an administrator may refuse the application of an employer or an individual to subscribe to the plan;

(7)  for the purposes of section 23, determine the cases where a plan administrator may give, offer or agree to give or offer an employer an inducement to enter into a contract with the administrator in respect of a voluntary retirement savings plan, the conditions that apply and the type of inducement, if any;

(8)  for the purposes of section 24, prescribe the fees to be paid with the annual statement as well as the information to be presented in the statement of changes in the net assets available for the provision of benefits;

(9)  for the purposes of section 25, determine the criteria to be met by the default investment option as well as the conditions subject to which other investment options may be offered to a member by the plan administrator as a possible investment choice, and the other criteria to be met in determining the investment strategy of these other investment options;

(10)  for the purposes of section 26, determine the circumstances in which the plan administrator may change a member’s investment choices and how such a change is made;

(11)  for the purposes of section 27, establish the criteria for determining if the plan is low cost, as well as the nature or amount of the fees that may be deducted from the return on assets and of the fees that a plan administrator may charge members;

(12)  for the purposes of section 46, determine the information that the agreement must contain;

(13)  for the purposes of section 47, determine the personal information concerning the employees with which the employer will provide the administrator and any other information that may be contained in the notice the employer sends the employees;

(14)  for the purposes of section 50, prescribe the conditions for the payment of the costs related to the transfer of the employee accounts and for the transfer itself;

(15)  for the purposes of section 54, provide the cases in which an employer may demand, accept or agree to accept an inducement from a plan administrator, or offer or agree to offer a plan administrator an inducement, with a view to entering into a contract with the administrator in respect of a voluntary retirement savings plan, the conditions that apply and the type of inducement, if any;

(16)  for the purposes of section 55, set the default contribution rate;

(17)  for the purposes of section 56, determine the conditions under which a member may set a contribution rate at 0 %;

(18)  for the purposes of section 60, determine the rate at which and the manner in which the contributions bear interest;

(19)  for the purposes of section 65, determine the other amounts credited to the member’s locked-in and not locked-in accounts;

(20)  for the purposes of sections 67, 69, 72, 78 and 125, determine the pension plans to which the amounts from the locked-in and not locked-in accounts, as the case may be, may be transferred;

(21)  for the purposes of section 68, set the conditions and a percentage other than 20 %;

(22)  for the purposes of section 70, regulate variable payments;

(23)  for the purposes of section 73, determine the details of the benefit payable on the death of a member who was receiving variable payments;

(24)  for the purposes of section 76, determine

(a)  the other information contained in the statement the member and his or her spouse may apply for upon the introduction of an application for separation from bed and board, divorce, annulment of marriage, dissolution or annulment of a civil union or payment of a compensatory allowance;

(b)  the rules according to which the benefits accumulated by the member and their value are established; and

(c)  the information contained in the statement the member and his or her spouse are entitled to receive for the purposes of a pre-hearing mediation;

(25)  for the purposes of section 77, prescribe the manner in which the member’s benefits are partitioned;

(26)  for the purposes of section 78, determine

(a)  the rules governing the partition of the member’s benefits from both the locked-in and the not locked-in accounts;

(b)  the conditions in which the spouse may apply for a refund; and

(c)  the manner in which the benefits awarded to the spouse following a seizure for non-payment of support must be paid;

(27)  for the purposes of section 79, set the limit for the costs and expenses that may be claimed;

(28)  for the purposes of section 84, determine the member’s options for the payment of his or her benefits and the other information the notice may contain;

(29)  for the purposes of section 91, determine the information a plan administrator must file with Retraite Québec after liquidating the plan assets;

(30)  for the purposes of section 95, determine the manner in which a plan administrator must provide members with statements, as well as the information the statements must contain;

(31)  for the purposes of section 97, establish the costs related to an inspection or an inquiry that a plan administrator may charge;

(32)  for the purposes of section 101, determine the information Retraite Québec may post on its website; and

(33)  prescribe any other measure required for the application of this Act.

2013, c. 26, s. 113; 2015, c. 20, s. 61.

2014-07-01

113. The Government may, by regulation,

(1)  for the purposes of section 3, determine

(a)  the manner of registering a voluntary retirement savings plan and its amendments;

(b)  the documents and information the administrator must file with the Régie; and

(c)  the fees the administrator must deposit with the Régie;

(2)  for the purposes of section 4, determine the information that must be included in the text of the plan;

(3)  for the purposes of section 8, determine the cases in which a plan and its amendments may become effective on a date before the date on which they are registered;

(4)  for the purposes of section 17, prescribe the information that must be included in a contract between the plan administrator and the employer or a member, as the case may be;

(5)  for the purposes of section 19, determine the information that may be contained in the summary the plan administrator transmits to each member whose employer is subscribed to a plan;

(6)  for the purposes of section 21, determine the grounds on which an administrator may refuse the application of an employer or an individual to subscribe to the plan;

(7)  for the purposes of section 23, determine the cases where a plan administrator may give, offer or agree to give or offer an employer an inducement to enter into a contract with the administrator in respect of a voluntary retirement savings plan, the conditions that apply and the type of inducement, if any;

(8)  for the purposes of section 24, prescribe the fees to be paid with the annual statement as well as the information to be presented in the statement of changes in the net assets available for the provision of benefits;

(9)  for the purposes of section 25, determine the criteria to be met by the default investment option as well as the conditions subject to which other investment options may be offered to a member by the plan administrator as a possible investment choice, and the other criteria to be met in determining the investment strategy of these other investment options;

(10)  for the purposes of section 26, determine the circumstances in which the plan administrator may change a member’s investment choices and how such a change is made;

(11)  for the purposes of section 27, establish the criteria for determining if the plan is low cost, as well as the nature or amount of the fees that may be deducted from the return on assets and of the fees that a plan administrator may charge members;

(12)  for the purposes of section 46, determine the information that the agreement must contain;

(13)  for the purposes of section 47, determine the personal information concerning the employees with which the employer will provide the administrator and any other information that may be contained in the notice the employer sends the employees;

(14)  for the purposes of section 50, prescribe the conditions for the payment of the costs related to the transfer of the employee accounts and for the transfer itself;

(15)  for the purposes of section 54, provide the cases in which an employer may demand, accept or agree to accept an inducement from a plan administrator, or offer or agree to offer a plan administrator an inducement, with a view to entering into a contract with the administrator in respect of a voluntary retirement savings plan, the conditions that apply and the type of inducement, if any;

(16)  for the purposes of section 55, set the default contribution rate;

(17)  for the purposes of section 56, determine the conditions under which a member may set a contribution rate at 0 %;

(18)  for the purposes of section 60, determine the rate at which and the manner in which the contributions bear interest;

(19)  for the purposes of section 65, determine the other amounts credited to the member’s locked-in and not locked-in accounts;

(20)  for the purposes of sections 67, 69, 72, 78 and 125, determine the pension plans to which the amounts from the locked-in and not locked-in accounts, as the case may be, may be transferred;

(21)  for the purposes of section 68, set the conditions and a percentage other than 20 %;

(22)  for the purposes of section 70, regulate variable payments;

(23)  for the purposes of section 73, determine the details of the benefit payable on the death of a member who was receiving variable payments;

(24)  for the purposes of section 76, determine

(a)  the other information contained in the statement the member and his or her spouse may apply for upon the introduction of an application for separation from bed and board, divorce, annulment of marriage, dissolution or annulment of a civil union or payment of a compensatory allowance;

(b)  the rules according to which the benefits accumulated by the member and their value are established; and

(c)  the information contained in the statement the member and his or her spouse are entitled to receive for the purposes of a pre-hearing mediation;

(25)  for the purposes of section 77, prescribe the manner in which the member’s benefits are partitioned;

(26)  for the purposes of section 78, determine

(a)  the rules governing the partition of the member’s benefits from both the locked-in and the not locked-in accounts;

(b)  the conditions in which the spouse may apply for a refund; and

(c)  the manner in which the benefits awarded to the spouse following a seizure for non-payment of support must be paid;

(27)  for the purposes of section 79, set the limit for the costs and expenses that may be claimed;

(28)  for the purposes of section 84, determine the member’s options for the payment of his or her benefits and the other information the notice may contain;

(29)  for the purposes of section 91, determine the information a plan administrator must file with the Régie after liquidating the plan assets;

(30)  for the purposes of section 95, determine the manner in which a plan administrator must provide members with statements, as well as the information the statements must contain;

(31)  for the purposes of section 97, establish the costs related to an inspection or an inquiry that a plan administrator may charge;

(32)  for the purposes of section 101, determine the information the Régie may post on its website; and

(33)  prescribe any other measure required for the application of this Act.

2013, c. 26, s. 113.