S-2.1.1 - Act to foster the financial health and sustainability of municipal defined benefit pension plans

Section 5 Disposition versions

2014-12-05

5. For the purpose of calculating the portions of the deficiencies attributable to active members, retired members and municipal bodies under this Act, the gains accumulated in the reserve for service prior to 1 January 2014, the amounts accumulated in the stabilization fund for service subsequent to 31 December 2013 and any amounts accumulated in a stabilization fund referred to in section 61 must be subtracted from the deficiencies identified in the actuarial valuation established on the basis of the data as at 31 December 2013, in the actuarial valuation established on the basis of the data as at 31 December 2014 or in the actuarial valuation established on the basis of the data as at 31 December 2015. However, the stabilization fund established in accordance with subparagraph 3 of the first paragraph of section 7 must not be taken into account in the actuarial valuation established on the basis of the data as at 31 December 2015.

2014, c. 15, s. 5.