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

Section 67 Disposition versions

2014-12-05

67. The amounts paid by a municipal body in excess of the amortization payments required by law, without taking into account funding relief measures, during the three fiscal years preceding the tabling of this bill, must be subtracted from the pension plan’s assets for the purpose of determining its deficiency as at 31 December 2013. These amounts are deemed to have been paid to cover the portion of the deficit borne by the municipal body. They do not constitute a debt contracted by the pension plan towards the municipal body within the meaning of subparagraph 2 of the third paragraph of section 20.

2014, c. 15, s. 67.