Annual information return and residual benefits for supplemental pension plans
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The Régie des rentes du Québec has posted the 2014 version of the Annual information return (AIR) for supplemental pension plans (SPP). There are very few changes for 2014, and the main ones are summarized on the 1st page of the form available on the Régie des rentes website.
The Régie also removed residual benefits from liabilities referred to in the guidance for the actuarial valuation as at December 31, 2013 prior to restructuring required under the Act to foster the financial health and sustainability of municipal defined benefit pension plans.
CPAs who audit municipal pension plans can find out from their clients how the residual benefits will be treated and determine the most appropriate accounting treatment under the circumstances.