R-15.1 - Supplemental Pension Plans Act

Full text The appropriation of surplus assets under this subdivision is permitted only if, according to the actuarial valuation of the pension plan, the plan’s assets are equal to or greater than its liabilities on a funding basis, increased by the value of the stabilization provision target level.
The maximum amount of surplus assets that may be used in a fiscal year is equal to 20% of the amount by which the plan’s assets determined on a funding basis exceed the minimum amount set under the first paragraph.
Section 122.1 applies to this subdivision.
2020, c. 302020, c. 30, s. 51.