1. The purpose of this Act is to require the amendment of any defined benefit pension plan governed by the Supplemental Pension Plans Act (chapter R-15.1) and established by a municipal body, as well as of the Régime de retraite des employés municipaux du Québec, with a view to improving the plans’ financial health and ensuring their sustainability.
A process and special rules are provided for restructuring the pension plans.
The Régime de rentes de l’Association de Bienfaisance et de Retraite de la Police de Montréal and the Régime de retraite des policiers et policières de la Ville de Montréal are pension plans established by a municipal body within the meaning of the first paragraph.
For the purposes of this Act, a defined benefit-defined contribution pension plan is considered a defined benefit plan. However, only the defined benefit component of such a pension plan is subject to restructuring.
2014, c. 15, s. 1; 2019, c. 282019, c. 28, s. 1411.