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R-12.1 - Act respecting the Pension Plan of Management Personnel
Section 138.3
Disposition versions
138.3. An employee may be credited with all or part of the years and parts of a year of service not credited under this plan by reason of section 138.1 by paying to Retraite Québec the difference between the actuarial values of the benefits resulting from those years and parts of a year of service.
An employee referred to in section 138.2 may be credited with all or part of the years and parts of a year of service not credited under this plan by paying to Retraite Québec an amount equal to the refund referred to in that section.
The years and parts of a year of service referred to in the first and second paragraphs are credited beginning with the most recent service.
The amount to be paid by the employee bears interest, compounded annually, at the rates determined in Schedule VII from the date on which the actuarial values are established until the date the application is received at Retraite Québec and at the rate determined in Schedule VIII from the day following the date the application is received until the date of the redemption proposal made by Retraite Québec. However, for the purpose of the second paragraph, interest is computed from the date on which Retraite Québec paid the refund instead of the date on which the actuarial values were established.
The amounts established under this section are payable in cash or, if provided for in the employee’s conditions of employment, by using all or part of their accumulated sick leave. In the latter case, their employer shall pay all or part of the amount according to the terms determined by Retraite Québec.
138.3. An employee may be credited with all or part of the years and parts of a year of service not credited under this plan by reason of section 138.1 by paying to Retraite Québec the difference between the actuarial values of the benefits resulting from those years and parts of a year of service.
An employee referred to in section 138.2 may be credited with all or part of the years and parts of a year of service not credited under this plan by paying to Retraite Québec an amount equal to the refund referred to in that section.
The years and parts of a year of service referred to in the first and second paragraphs are credited beginning with the most recent service.
The amount to be paid by the employee bears interest, compounded annually, at the rates determined in Schedule VII from the date on which the actuarial values are established until the date the application is received at Retraite Québec and at the rate determined in Schedule VIII from the day following the date the application is received until the date of the redemption proposal made by Retraite Québec. However, for the purpose of the second paragraph, interest is computed from the date on which Retraite Québec paid the refund instead of the date on which the actuarial values were established.
The amounts established under this section are payable in cash or, if provided for in the employee’s conditions of employment, by using all or part of his or her accumulated sick leave. In the latter case, his or her employer shall pay all or part of the amount according to the terms determined by Retraite Québec.
138.3. An employee may be credited with all or part of the years and parts of a year of service not credited under this plan by reason of section 138.1 by paying to Retraite Québec the difference between the actuarial values of the benefits resulting from those years and parts of a year of service.
An employee referred to in section 138.2 may be credited with all or part of the years and parts of a year of service not credited under this plan by paying to Retraite Québec an amount equal to the refund referred to in that section.
The years and parts of a year of service referred to in the first and second paragraphs are credited beginning with the most recent service.
The amount to be paid by the employee bears interest, compounded annually, at the rates determined in Schedule VII from the date on which the actuarial values are established until the date the application is received at Retraite Québec and at the rate determined in Schedule VIII from the day following the date the application is received until the date of the redemption proposal made by Retraite Québec. However, for the purpose of the second paragraph, interest is computed from the date on which Retraite Québec paid the refund instead of the date on which the actuarial values were established.
The amounts established under this section are payable in a lump sum.
138.3. An employee may be credited with all or part of the years and parts of a year of service not credited under this plan by reason of section 138.1 by paying to the Commission the difference between the actuarial values of the benefits resulting from those years and parts of a year of service.
An employee referred to in section 138.2 may be credited with all or part of the years and parts of a year of service not credited under this plan by paying to the Commission an amount equal to the refund referred to in that section.
The years and parts of a year of service referred to in the first and second paragraphs are credited beginning with the most recent service.
The amount to be paid by the employee bears interest, compounded annually, at the rates determined in Schedule VII from the date on which the actuarial values are established until the date the application is received at the Commission and at the rate determined in Schedule VIII from the day following the date the application is received until the date of the redemption proposal made by the Commission. However, for the purpose of the second paragraph, interest is computed from the date on which the Commission paid the refund instead of the date on which the actuarial values were established.
The amounts established under this section are payable in a lump sum.
138.3. An employee may be credited with all or part of the years and parts of a year of service not credited under this plan by reason of section 138.1 by paying to the Commission the difference between the actuarial values of the benefits resulting from those years and parts of a year of service.
An employee referred to in section 138.2 may be credited with all or part of the years and parts of a year of service not credited under this plan by paying to the Commission an amount equal to the refund referred to in that section.
The years and parts of a year of service referred to in the first and second paragraphs are credited beginning with the most recent service.
The amount to be paid by the employee bears interest, compounded annually, at the rates determined in Schedule VII from the date on which the actuarial values are established until the date the application is received at the Commission and at the rate determined in Schedule VIII from the day following the date the application is received until the date of the redemption proposal made by the Commission. However, for the purpose of the second paragraph, interest is computed from the date on which the Commission paid the refund instead of the date on which the actuarial values were established.
The amounts established under this section are payable either in a lump sum or in instalments over the period and at the times determined by the Commission. An amount paid in instalments bears interest, compounded annually, at the rate determined in Schedule VIII on the date the application is received at the Commission and computed from the date on which the redemption proposal made by the Commission expires.
