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

Section 66 Disposition versions

2014-12-05

66. The initial deficiencies of the pension plans of Ville de Montréal and Ville de Québec, for which averaging measures over a period of more than 20 years were granted, are not taken into account in calculating the plan’s deficiencies for the purposes of this Act.

However, the present value of amortization payments relating to the deficiencies must, from the actuarial valuation subsequent to 1 January 2017, be included in calculating the value of the assets under the second paragraph of section 19 for the sole purpose of determining whether an ad hoc indexation of retired members’ pensions can be paid.

2014, c. 15, s. 66.