R-15.1 - Supplemental Pension Plans Act

Section 63 Disposition versions

1990-01-01

63. In the case of an insured plan, or of an uninsured plan under which refunds or pension benefits are guaranteed by an insurer, coverage for service completed in the course of a fiscal year of the plan and credited under such plan shall be granted as the insurer receives contributions from the employer or from the pension committee.

Coverage for service credited in respect of any period prior to the current fiscal year of the plan shall be granted upon receipt of the total amount of the premium required by the insurer.

1989, c. 38, s. 63.