R-15.1 - Supplemental Pension Plans Act

Section 122.1 Disposition versions

2020-12-11

122.1. For the purposes of this chapter, the assets and liabilities of a pension plan are both reduced by an amount corresponding to the sum of the following values:

(1)  the value of any additional voluntary contributions paid into the pension fund, with accrued interest;

(2)  the value of the contributions paid into the pension fund under provisions which, in a defined benefit plan or a target benefit plan, are identical to those of a defined contribution plan, with accrued interest;

(3)  the value of amounts received by the pension plan following a transfer, even otherwise than under Chapter VII, with accrued interest.

2015, c. 29, s. 23; 2020, c. 30, s. 39.

2016-01-01

122.1. For the purposes of this chapter, the assets and liabilities of a pension plan are both reduced by an amount corresponding to the sum of the following values:

(1)  the value of any additional voluntary contributions paid into the pension fund, with accrued interest;

(2)  the value of the contributions paid into the pension fund under provisions which, in a defined benefit plan, are identical to those of a defined contribution plan, with accrued interest;

(3)  the value of amounts received by the pension plan following a transfer, even otherwise than under Chapter VII, with accrued interest.

However, in the case of a floor plan, the assets and liabilities of a plan are not to be reduced by the value referred to in subparagraph 2.

2015, c. 29, s. 23.