R-15.1 - Supplemental Pension Plans Act

Section 127 Disposition versions

2016-01-01

127. The method for smoothing the market value of the assets of the pension plan may not level the short-term fluctuations in that value over a period exceeding five years.

1989, c. 38, s. 127; 1994, c. 24, s. 8; 2006, c. 42, s. 11; 2015, c. 29, s. 24.

2010-01-01

127. For the purpose of determining the degree of solvency of a pension plan, the value of the plan’s assets and that of its liabilities are both reduced by an amount representing 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; and

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

The degree of solvency of the plan at the date of a complete actuarial valuation corresponds to the value of the assets, increased by the special amortization payment provided for in section 132 but reduced as provided in the first paragraph, over the value of the liabilities reduced in the same manner, expressed as a percentage.

1989, c. 38, s. 127; 1994, c. 24, s. 8; 2006, c. 42, s. 11.

1994-06-17

127. An improvement unfunded actuarial liability may be considered to be an initial unfunded actuarial liability if the amendment from which it arises provides only for the crediting of service in respect of a period prior to the effective date of the plan or, in the case of a multi-employer plan, even a plan not considered to be a multi-employer plan pursuant to section 11, in respect of a period prior to the date of coming into force of an amendment to provide for the participation of a new employer. In the latter case, however, the unfunded liability must pertain only to the crediting of service to members who were employed by the new employer.

1989, c. 38, s. 127; 1994, c. 24, s. 8.

1990-01-01

127. An improvement unfunded actuarial liability may be considered to be an initial unfunded actuarial liability if the amendment from which it arises provides only for the crediting of service in respect of a period prior to the effective date of the plan.

1989, c. 38, s. 127.