R-15.1 - Supplemental Pension Plans Act

Section 306.3 Disposition versions

2010-01-01

306.3. (Repealed).

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

1998-03-12

306.3. As long as the value, as at 31 December 1997, of the reduction in amortization amounts effected up to or after that date, pursuant to the third paragraph of section 135.2 and to this section, is less than 9/14 of the portion of gain determined in respect of the pension plan pursuant to the first paragraph of section 32 of the Act respecting the negotiation of agreements concerning the reduction of labour costs in the municipal sector (1998, chapter 2), the balance of the surplus referred to in section 135.4 shall be used in the following manner and order:

(1)  to reduce proportionately each of the amortization amounts remaining to be paid to amortize any improvement unfunded actuarial liability or technical unfunded actuarial liability identified in the report of the latest actuarial valuation of the entire pension plan transmitted to the Régie before 12 March 1998, from the oldest to the most recent, if there is more than one;

(2)  to reduce proportionately each of the amortization amounts remaining to be paid after 31 December 2003 to amortize any unfunded actuarial liability referred to in the second paragraph of section 135.3.

1998, c. 2, s. 41.