R-26.2.1 - Act respecting the restructuring of university-sector defined benefit pension plans

Section 77 Disposition versions

2016-01-01

77. In the case of a pension plan that must be restructured under section 19, if the pension committee was instructed to reduce the monthly payments due by 50% before 11 November 2015 under section 39.2 of the Regulation respecting the funding of pension plans of the municipal and university sectors (chapter R-15.1, r. 2), the funding relief measure set out in that section is extended until the date of the agreement or the arbitrator’s decision under Chapter V, but not later than 31 December 2017.

In the case of a pension plan that does not have to be restructured under section 19 and in order for the funding relief measure referred to in the first paragraph to apply, the employer must post, in a conspicuous place within the establishment and in an area usually frequented by the active members, a notice indicating that the parties that have the power to amend the plan have agreed to restructure the benefits of the active members for service prior to 1 January 2016 and service subsequent to 31 December 2015 and that, consequently, the funding relief measure set out in section 39.2 of the Regulation respecting the funding of pension plans of the municipal and university sectors continues to apply until the date of the agreement on the amendments, but not later than 31 December 2017.

The provisions of the Regulation apply with the necessary modifications.

The pension committee must immediately inform Retraite Québec if the funding relief measure referred to in the first paragraph ceases to apply before 31 December 2017.

2016, c. 13, s. 77.