84. The plan’s degree of solvency taken into account for the purposes of applying section 83 is the most recent of the following: the degree as determined in the course of the last actuarial valuation of the plan, the degree established at the end of the plan’s last complete fiscal year or the degree determined according to the periodicity provided for under the plan. The most recent degree of solvency shall be determined at the day on which the pension committee receives an application to exercise the rights referred to in section 83.
The pension committee shall establish or cause to be established the plan’s degree of solvability at the end of each of the plan’s fiscal years ending on a date other than the date of a valuation required pursuant to paragraph 3 of section 118 of the Act or at the date fixed in accordance with the established periodicity where such date precedes the ending date of a fiscal year provided for under the plan. For this purpose, the actuary responsible for preparing the report relating to an actuarial valuation required pursuant to paragraph 1 or 3 of section 118 of the Act shall define in the report a method which, taking into account the return obtained on the investment of the plan’s assets and the change in the valuation rate, will allow the summary establishment of the degree of solvency at any time prior to the date of the next such valuation.
O.C. 159-2007, s. 5; O.C. 833-2017, s. 12.