S-2.1.1 - Act to foster the financial health and sustainability of municipal defined benefit pension plans

Section 59 Disposition versions

2014-12-05

59. Despite section 7 and until an agreement is reached between the municipal body and the active members or until the decision of the arbitrator under Chapter IV, the municipal body assumes any increase in the portion of the current service contribution attributable to active members from 1 January 2014.

The amount by which the value of the current service contribution paid by the municipal body from 1 January 2014 until the date of the agreement or of the arbitrator’s decision under Chapter IV exceeds the contribution that should have been paid under section 7, from which the value of the increase in the contribution referred to in the first paragraph must be subtracted, is allocated to the payment of the current service contribution of the municipal body for the following year and, if applicable, for subsequent years.

The amount by which the value of the contributions paid by active members from 1 January 2014 until the date of the agreement or of the arbitrator’s decision exceeds the contribution that should have been paid under section 7 is allocated to the payment of the active members’ current service contribution for the following year and, if applicable, for subsequent years.

This section applies, with the necessary modifications, to the situations described in section 26, if applicable.

2014, c. 15, s. 59.