Tag: Act s. 198
Retraite Québec published Newsletter #31, which provides guidance for plan administrators on the key amendments to the Supplemental Pension Plans Act that took effect on January 1, 2016. The Newsletter addresses the following changes:
- Pension Plan Funding: actuarial valuation frequency and requirements, notice requirements, stabilization provisions, letters of credit, transitional rules
- Measures for Risk Management: funding, investment and annuity purchasing policies
Earlier this year, the Quebec government enacted legislation, which established a new funding method for Quebec defined benefit pension plans. Draft regulations, released last week, provide DB plan administrators with additional guidance regarding these new funding requirements.