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

Section 9 Disposition versions

2014-12-05

9. The stabilization contribution provided for in subparagraph 3 of the first paragraph of section 7 represents at least 10% of the current service contribution, established without taking into account any margin for adverse deviation provided for by the Canadian Institute of Actuaries. It is paid in equal parts by the municipal body and the active members into the fund described in that subparagraph from the date of any agreement reached or any decision made by the arbitrator under Chapter IV. Actuarial gains generated from 1 January 2014 must also be paid into the fund.

The required value of the stabilization fund must be calculated in the same manner as the provision for adverse deviation established with respect to the plan’s obligations prior to 1 January 2014.

2014, c. 15, s. 9.