R-15.1 - Supplemental Pension Plans Act

Section 199.2 Disposition versions

2020-12-11

199.2. If the benefits accrued to all the members and beneficiaries affected by the withdrawal of an employer that is a party to a multi-employer pension plan derive only from defined contribution benefits, the amendment to the plan allowing for the withdrawal of the employer is not subject to the authorization of Retraite Québec.

The members’ and beneficiaries’ benefits affected by the withdrawal of the employer may be maintained in the plan if the plan so provides. In such a case, the notice referred to in section 200 must mention that option, allow the member or beneficiary at least 10 days to communicate his or her choice, and specify that if no choice is made, his or her benefits will, as provided for in the plan, either be paid or be maintained in the plan.

Furthermore, the plan is exempted from the application of sections 202 and 203. However, the pension committee must include the attestation referred to in paragraph 2 of section 203 with the application for registration of the amendment allowing for the withdrawal of the employer.

The pension committee must, within 30 days after the expiry of the time limit for exercising choices and options, pay the benefits to which the members and beneficiaries affected by the withdrawal of the employer are entitled. Section 217 applies to the payment.

2020, c. 30, s. 70.