R-9.3 - Act respecting the Pension Plan of Elected Municipal Officers

Section 80.1 Disposition versions

2001-12-20

80.1. The pension amounts computed pursuant to this Act shall be granted only within the limits authorized under the Income Tax Act (Revised Statutes of Canada, 1985, chapter 1, 5th Supplement).

Any pension amount acquired under this plan, other than by redemption in accordance with Chapter VI.0.1 and Chapter VI.0.2, that exceeds the defined benefit limit established under the Income Tax Act shall be paid to the person who participated in the plan in the form of a supplementary benefits plan established by order of the Government. That order shall determine the date on which such a plan takes effect ; that date may be prior to the date on which the order is made.

The plan referred to in this section must, in particular, provide for the sums required of the municipalities or the computation method for determining those sums, the time limit within which any payment must be made, the rate of interest payable on any payable amount and the characteristics and conditions of any benefit to be paid.

The third, fourth and fifth paragraphs of section 76.4 and section 76.6 apply to the supplementary benefits plan, with the necessary modifications.

2001, c. 68, s. 93.