R-15.1 - Supplemental Pension Plans Act

Section 120 Disposition versions

2016-01-01

120. The funding of a pension plan must be based on an actuarial valuation report prepared at the request of the pension committee and transmitted to Retraite Québec. Unless the report concerns a partial actuarial valuation carried out under the conditions set out in the third paragraph of section 118, it must refer to a complete actuarial valuation of the plan.

Except in the case provided for in section 121, an actuarial valuation report that has been transmitted to Retraite Québec can be amended or replaced only at the request of or with the authorization of Retraite Québec and subject to the conditions fixed by Retraite Québec. If a report is amended or replaced, any unfunded actuarial liability determined by the valuation must be re-established and any actuarial certification required for the purposes of such valuation must be renewed.

1989, c. 38, s. 120; 2006, c. 42, s. 11; 2015, c. 20, s. 61; I.N. 2016-04-01.

2010-01-01

120. The funding of a pension plan must be based on an actuarial valuation report prepared at the request of the pension committee and transmitted to the Régie. Unless the report concerns a partial actuarial valuation carried out under the conditions set out in the second paragraph of section 118, it must refer to a complete actuarial valuation of the plan.

Except in the case provided for in section 121, an actuarial valuation report that has been transmitted to the Régie can be amended or replaced only at the request of or with the authorization of the Régie and subject to the conditions fixed by the Régie. If a report is amended or replaced, any unfunded actuarial liability determined by the valuation must be re-established and any actuarial certification required for the purposes of such valuation must be renewed.

1989, c. 38, s. 120; 2006, c. 42, s. 11.

1990-01-01

120. A plan is funded if, at the date of the actuarial valuation, the value of its assets is equal to or greater than the value at that date of the obligations arising from the plan in respect of service credited to the members.

1989, c. 38, s. 120.