24. The employer must inform the retired members of any planned amendment to the automatic indexation formula for their pension at least 60 days before the agreement to be made under Chapter V.
To that end, the pension committee must convene the retired members to an information meeting during which the employer must report on the pension plan’s financial position set out in the actuarial valuation as at 31 December 2015, on the effort the retired members are being asked to make and on the reasons for the amendment. The pension committee must convene the retired members at least 30 days before the date of the information meeting and enclose with 11 the notice of meeting a copy of the planned amendment and the notice required under the first paragraph of section 113.1 of the Supplemental Pension Plans Act (chapter R-15.1).
At that time, retired members must be allowed to present comments to the employer on the planned amendment and submit any proposal on their pension’s automatic indexation formula.
The employer must send Retraite Québec the planned amendment and a summary of the meeting for information purposes.