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

Section 70 Disposition versions

2016-01-01

70. The report on the actuarial valuation required under section 4 is deemed to be the report mentioned in section 119 that is applicable under section 8 of the Regulation respecting the funding of pension plans of the municipal and university sectors (chapter R-15.1, r. 2), when such a report on a complete actuarial valuation established on the basis of the data as at 31 December 2013 is required. If the latter report was sent to Retraite Québec, a version of that report amended under the third, fourth and fifth paragraphs of section 4 is deemed to be the report required under section 4.

If a report must be produced under section 16 or 26, the report mentioned in section 119 that is applicable under section 8 of the Regulation respecting the funding of pension plans of the municipal and university sectors is not required.

In a case of failure to produce the report required under the second paragraph of section 4 or section 16 or 26, fees equal to 20% of the fees calculated in the manner prescribed by section 13.0.1 of the Regulation respecting supplemental pension plans (chapter R-15.1, r. 6), taking into account the number of members and beneficiaries indicated in the annual information statement for the last fiscal year of the plan ended on the date of the actuarial valuation, must be paid to Retraite Québec for each full month of delay, up to the amount of those fees.

2014, c. 15, s. 70; 2015, c. 20, s. 61.

2014-12-05

70. The report on the actuarial valuation required under section 4 is deemed to be the report mentioned in section 119 that is applicable under section 8 of the Regulation respecting the funding of pension plans of the municipal and university sectors (chapter R-15.1, r. 2), when such a report on a complete actuarial valuation established on the basis of the data as at 31 December 2013 is required. If the latter report was sent to the Board, a version of that report amended under the third, fourth and fifth paragraphs of section 4 is deemed to be the report required under section 4.

If a report must be produced under section 16 or 26, the report mentioned in section 119 that is applicable under section 8 of the Regulation respecting the funding of pension plans of the municipal and university sectors is not required.

In a case of failure to produce the report required under the second paragraph of section 4 or section 16 or 26, fees equal to 20% of the fees calculated in the manner prescribed by section 13.0.1 of the Regulation respecting supplemental pension plans (chapter R-15.1, r. 6), taking into account the number of members and beneficiaries indicated in the annual information statement for the last fiscal year of the plan ended on the date of the actuarial valuation, must be paid to the Board for each full month of delay, up to the amount of those fees.

2014, c. 15, s. 70.