Sending the termination report to the employer (and the union, if any)
Within 90 days following receipt of the written notice of termination from the employer (or the decision of Retraite Québec), the plan administrator must:
- have the termination report prepared
- send the termination report to the employer (and the union, if any)
- send statements of benefits to plan members and beneficiaries
- publish a notice in a daily newspaper.
Upon expiry of the 90-day period, the administrator must send the termination report to Retraite Québec (with any corrections).
Time limit for presenting observations
The administrator must notify the employer and the union that they may present written observations, allowing them to, among other things, ask for corrections if they found mistakes or omissions in the termination report.
Important
The employer and the union have until the day before the expiry of the 90-day period to present their observations.
The time limit given to the employer for presenting observations must be a minimum of 10 days as of the date that the termination report is received.
A helpful example...
The 90-day period for sending the termination report to Retraite Québec ends on 30 June. The employer and the union have until 29 June to present their observations. Therefore, the termination report must be sent to them no later than 19 June.
Notice to accompany the termination report
In addition to the termination report, the administrator must send the employer a notice specifying one or the other of the following elements, as the case may be:
- the required employer contributions not paid into the pension fund
- member contributions collected by the employer and not paid into the pension fund
- the employer debt as established in the termination report.
Legal reference
Section 207.2 of the Supplemental Pension Plans Act 