4. Despite the second paragraph of section 118 of the Act, an actuarial valuation as at 31 December 2020 is not required for a pension plan whose funding level determined in the actuarial valuation as at 31 December 2019 or after that date is less than 90%.
The notice referred to in the first paragraph of section 119.1 of the Act on the financial position of the plan as at 31 December 2020 must be sent to Retraite Québec, not later than nine months after that date.
In addition, the pension plan must be subject to an actuarial valuation not later than on 31 December 2021.
1186-2020O.C. 1186-2020, s. 4.