July 20, 2020
On July 1, 2020, the new Agreement Respecting Multi-Jurisdictional Pension Plans (the “2020 MJPPA”) came into force. The 2020 MJPPA has been adopted federally and by every province that has a pension regulator, other than two (Manitoba and Newfoundland and Labrador). Widespread adoption of the 2020…Read More
December 02, 2019
In recent weeks, a number of changes applicable to Ontario-registered pension plans have been introduced, including the following: On October 28, 2019, the Ontario Legislature introduced Bill 132, Better for People, Smarter for Business Act, 2019 (“Bill…Read More
September 16, 2019
The 2019 decision of the U.S. District Court for the Western District of Missouri in Wildman v American Century Services, LLC1Read More
June 03, 2019
On May 1, 2018, a new funding regime came into force for Ontario-registered defined benefit (“DB”) pension plans. The new funding regime for DB plans, introduced through Ontario Regulation 250/18 (the “2018 Funding Regulations”) and complimentary…Read More
April 15, 2019
On April 11, 2019, Ontario’s Progressive Conservative Government released its first budget after winning a majority of seats in the Ontario Legislature in the 2018 Ontario general election. Titled “Protecting What Matters Most”, Budget…Read More
March 21, 2019
On March 19, 2019, Justin Trudeau’s Government released its fourth budget - Investing in the Middle Class, Budget 2019. Budget 2019 includes a number of policy initiatives that will impact employers, including: the…Read More
January 21, 2019
The prior Ontario government implemented OHIP+, under which OHIP-insured children and youth under age 25 receive free prescription drug coverage. Effective January 1, 2018, OHIP+ became the first payer at 100% of the cost for eligible drugs. OHIP+ effectively removed from employer-sponsored benefit…Read More
November 28, 2018
In conjunction with the release of the federal Government’s 2018 Fall Fiscal update last week, three federal Departments released a Consultation Document on Enhancing Retirement Security for Canadians. According to the Consultation Document “the Government is seeking feedback from pensioners, workers,…Read More
November 19, 2018
Last Thursday the new Ontario government presented the 2018 Fall Economic Outlook and Fiscal Review. Budget legislation, Bill 57, Restoring Trust, Transparency and Accountability Act, 2018, was introduced in the legislature on the same day. The 2018 Fall Economic Outlook and Bill 57 included…Read More
June 20, 2018
De-risking of defined benefit (“DB”) pension plans has been an important topic for Canadian employers and pension plan administrators in recent years. The use of “buy-out annuities” is one of the de-risking strategies available while a pension plan is ongoing. Very generally, a buy-out annuity purchase…Read More