100.52(1)Despite section 12, the Local Governance Act and the regulations under that Act and any contract or trust, including a document that creates or supports a pension plan or pension fund, a conversion of a defined benefit plan to a shared risk plan may affect escalated adjustments not yet granted as of the conversion date and future increases in the pension benefits accrued as of the conversion date resulting from increases in the member’s pensionable earnings after the conversion date.

100.52(2)Despite section 12, the Local Governance Act and the regulations under that Act and any contract or trust, including a document that creates or supports a pension plan or pension fund, a conversion of a pension plan to a shared risk plan is not void if the amount of the pension benefits is frozen as of the conversion date and changed to a form of contingent indexing as of that date.

100.52(3)Despite section 12, the Local Governance Act and the regulations under that Act and any contract or trust, including a document that creates or supports a pension plan or pension fund, a conversion of a pension plan to a shared risk plan is not void if the vested right to escalated adjustments is changed to a form of contingent indexing as of the conversion date.

100.52(3.1)Despite section 12, the Local Governance Act and the regulations under that Act and any contract or trust, including a document that creates or supports a pension plan or pension fund, a pension plan may be amended for the purpose of converting the pension plan to a shared risk plan, including converting pension benefits to base benefits as of the conversion date and reducing accrued or vested pension benefits as of the conversion date.

100.52(3.2)Despite section 12, the Local Governance Act and the regulations under that Act and any contract or trust, including a document that creates or supports a pension plan or pension fund, a conversion of a pension plan to a shared risk plan is not void if the pension benefits under the pension plan are converted to base benefits as of the conversion date, if accrued or vested pension benefits are reduced as of the conversion date and if the base benefits are reduced after the conversion date.

100.52(4)On the conversion date and despite section 12, the Local Governance Act and the regulations under that Act and any contract or trust, including a document that creates or supports a pension plan or pension fund, the administrator of the pension plan shall transfer the ownership of all of the assets in the plan as of that date to the shared risk plan.

100.52(5)Sections 69 and 70 do not apply to a conversion of a pension plan to a shared risk plan.

100.52(1)Despite section 12, the Municipalities Act and the regulations under that Act and any contract or trust, including a document that creates or supports a pension plan or pension fund, a conversion of a defined benefit plan to a shared risk plan may affect escalated adjustments not yet granted as of the conversion date and future increases in the pension benefits accrued as of the conversion date resulting from increases in the member’s pensionable earnings after the conversion date.

100.52(2)Despite section 12, the Municipalities Act and the regulations under that Act and any contract or trust, including a document that creates or supports a pension plan or pension fund, a conversion of a pension plan to a shared risk plan is not void if the amount of the pension benefits is frozen as of the conversion date and changed to a form of contingent indexing as of that date.

100.52(3)Despite section 12, the Municipalities Act and the regulations under that Act and any contract or trust, including a document that creates or supports a pension plan or pension fund, a conversion of a pension plan to a shared risk plan is not void if the vested right to escalated adjustments is changed to a form of contingent indexing as of the conversion date.

100.52(3.1)Despite section 12, the Municipalities Act and the regulations under that Act and any contract or trust, including a document that creates or supports a pension plan or pension fund, a pension plan may be amended for the purpose of converting the pension plan to a shared risk plan, including converting pension benefits to base benefits as of the conversion date and reducing accrued or vested pension benefits as of the conversion date.

100.52(3.2)Despite section 12, the Municipalities Act and the regulations under that Act and any contract or trust, including a document that creates or supports a pension plan or pension fund, a conversion of a pension plan to a shared risk plan is not void if the pension benefits under the pension plan are converted to base benefits as of the conversion date, if accrued or vested pension benefits are reduced as of the conversion date and if the base benefits are reduced after the conversion date.

100.52(4)On the conversion date and despite section 12, the Municipalities Act and the regulations under that Act and any contract or trust, including a document that creates or supports a pension plan or pension fund, the administrator of the pension plan shall transfer all of the assets in the plan as of that date to the shared risk plan.

100.52(5)Sections 69 and 70 do not apply to a conversion of a pension plan to a shared risk plan.

100.52(1)A conversion of a defined benefit plan to a shared risk plan may affect escalated adjustments not yet granted as of the conversion date and future increases in the pension benefits accrued as of the conversion date resulting from increases in the member’s pensionable earnings after the conversion date.

100.52(2)Despite section 12, a conversion of a pension plan to a shared risk plan is not void if the amount of the pension benefits is frozen as of the conversion date and changed to a form of contingent indexing as of that date.

100.52(3)Despite section 12, a conversion of a pension plan to a shared risk plan is not void if the vested right to escalated adjustments is changed to a form of contingent indexing as of the conversion date.

100.52(4)On the conversion date, the administrator of the pension plan shall transfer all of the assets in the plan as of that date to the shared risk plan.

100.52(5)Sections 69 and 70 do not apply to a conversion of a pension plan to a shared risk plan.