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

Section 60 Disposition versions

2016-04-13

60. For the purposes of the negotiations required under section 26, the reference actuarial valuation is the valuation prepared on the basis of the data as at 31 December 2014, and the deadlines prescribed in Chapter IV apply, with the necessary modifications.

The maximum interest rate applicable to the actuarial valuations referred to in sections 16 and 26 is set by the Minister.

For the purposes of the second paragraph of section 7, the increase of the current service contribution to be made by not later than 1 January 2017 is deferred until the expiry of the collective agreement or of any other agreement providing for the pension plan if its expiry is subsequent to 1 January 2017, in the cases described in section 26.

In addition, the maximum proportion of the payroll that the current service contribution may reach under the first, second and third paragraphs of section 8 must be increased in the same manner as the rate in the fiscal rule that sets the maximum percentage of the salary or wages that can be contributed to a defined contribution pension plan.

2014, c. 15, s. 60.

The maximum interest rate applicable to the actuarial valuations referred to in section 26 of this Act is 6%. Order of the Minister of Employment and Social Solidarity dated 25 February 2015; (2015) 147 G.O. 2 (French), 531.

The maximum interest rate applicable to the actuarial valuations referred to in section 16 of this Act is 6%. Order of the Minister of Employment and Social Solidarity dated 29 March 2016; (2016) 148 G.O. 2 (French), 1816.

2014-12-05

60. For the purposes of the negotiations required under section 26, the reference actuarial valuation is the valuation prepared on the basis of the data as at 31 December 2014, and the deadlines prescribed in Chapter IV apply, with the necessary modifications.

The maximum interest rate applicable to the actuarial valuations referred to in sections 16 and 26 is set by the Minister.

For the purposes of the second paragraph of section 7, the increase of the current service contribution to be made by not later than 1 January 2017 is deferred until the expiry of the collective agreement or of any other agreement providing for the pension plan if its expiry is subsequent to 1 January 2017, in the cases described in section 26.

In addition, the maximum proportion of the payroll that the current service contribution may reach under the first, second and third paragraphs of section 8 must be increased in the same manner as the rate in the fiscal rule that sets the maximum percentage of the salary or wages that can be contributed to a defined contribution pension plan.

2014, c. 15, s. 60.

The maximum interest rate applicable to the actuarial valuations referred to in section 26 of this Act is 6%. Order of the Minister of Employment and Social Solidarity dated 25 February 2015; (2015) 147 G.O. 2 (French), 531.