R-15.1 - Supplemental Pension Plans Act

Section 306.2 Disposition versions

2010-01-01

306.2. (Repealed).

1998, c. 2, s. 41; 2006, c. 42, s. 46.

1998-03-12

306.2. As concerns the pension plans referred to in section 135.1, the amortization amounts remaining to be paid as at 30 December 1997 for any unfunded actuarial liability referred to in the second paragraph of section 135.3 shall be modified from that date to ensure that

(1)  the same amount is paid in the course of each year occurring between 1 January 1998 and 31 December 2003;

(2)  an amount corresponding to 170% of the amount referred to in subparagraph 1 is paid in the course of the year 2004;

(3)  an amount corresponding to 106% of the amount to be paid for the preceding year is paid in the course of each year occurring between 1 January 2005 and 31 December 2015;

(4)  an amount identical to the amount required to be paid for the year 2015 in accordance with subparagraph 3 is paid in the course of each year occurring between 1 January 2016 and 31 December 2045;

(5)  no amount is paid after 31 December 2045.

The amount referred to in subparagraph 1 of the first paragraph must be determined in such a manner that, as at 30 December 1997, the value of all the amounts referred to in that paragraph is the same as the value of the amortization amounts that remained to be paid after that date and that had been identified in the report of the latest actuarial valuation of the entire pension plan transmitted to the Régie before 12 March 1998. The values must be calculated using the same interest assumption as that used for the valuation. The amounts referred to in the first paragraph may not be modified after 30 December 1997 except in accordance with subdivision 3 of Division II of Chapter X and with sections 306.3 to 306.5.

1998, c. 2, s. 41.