R-15.1, r. 3.1 - Regulation providing temporary relief measures for the funding of solvency deficiencies

Section 2 Disposition versions

2012-09-01

2. An employer that is a party to a pension plan or, in the case of a multi-employer pension plan, even not considered as such under section 11 of the Act, the person or body empowered to amend the plan may, in writing, instruct the pension committee that administers the plan to take one or more of the following measures for the purposes of the first actuarial valuation of the plan dated after 30 December 2011:

(1)  the application of an asset valuation method that, in accordance with the conditions in sections 4 and 5, levels the short-term fluctuations in the market value of the assets of the plan for the purposes of determining the value of those assets on a solvency basis;

(2)  the elimination, as of the date of the actuarial valuation, of any amortization payments related to an improvement unfunded actuarial liability determined on the date of a previous valuation and related to an amendment made before 31 December 2008, and of any amortization payments related to a technical actuarial deficiency determined on the date of a previous actuarial valuation of the plan;

(3)  the extension, in accordance with the rules in section 8, of the period provided in the Act to amortize the technical actuarial deficiencies determined on the date of the first actuarial valuation of a pension plan whose date is after 30 December 2011 or thereafter.

O.C. 503-2012, s. 2.