The FTQ presented a proposal to the Government of Quebec regarding the introduction of a multi-employer defined benefit pension plan. Under this plan, the employer contribution is a fixed amount. Because it is a multi-employer plan, the companies do not assume the risk. On the other hand, rather than a plan that is limited in terms of the reserve—for example, to 100% or 105%—this type of plan could go as high as 130%, meaning that when there are stock market fluctuations, the pension amount will not be reduced. In other words, there is a need to build up a large reserve, to be sure that the money will be there. The problem we encountered in the past is that companies would take premium holidays when everything was fine, but when the situation deteriorated subsequently, there was no more money left or not enough. So, that is the type of plan we are advocating in future in order to avoid--
On April 13th, 2010. See this statement in context.