Solvency Funding Relief Regulations

24 (1) The administrator shall file the following documents and information with the Superintendent for the first plan year of funding of the initial solvency deficiency:

• (a) written notification that the initial solvency deficiency is to be funded in accordance with this Part;

• (b) the actuarial report valuing the plan as of the day on which the initial solvency deficiency emerged;

• (c) a written statement confirming that a resolution of the board of directors of the employer has been passed, if the employer is a corporation, or, if the employer is not a corporation, an approval of the persons who have the authority to direct or authorize the actions of that body, has been given, authorizing the special payment schedule calculated in accordance with this Part;

• (d) a copy of each letter of credit in effect for the plan year;

• (e) a written statement from the administrator that the letters of credit comply with this Part; and

• (f) a copy of the trust agreement set out in section 23 together with the name and address of the holder of the letters of credit.

(2) For each subsequent plan year of funding, the administrator shall file with the Superintendent copies of all subsequent letters of credit that have been obtained by the employer and a written statement, for each letter of credit filed, that it complies with this Part.