BMKP Sidebars

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Employer Entitled to 100% of Pension Plan Surplus

As far as pension matters go, dealing with surplus funds is a good “problem” for an employer to have. When excess assets remain in a pension fund after all pension benefits have been paid to plan members, that surplus may be paid to the employer, paid to plan members, or shared between the employer…Read More

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Moving Beyond the Pandemic: Pension and Benefit Highlights from the 2022 Federal Budget

On April 7, 2022, Justin Trudeau’s Government released its sixth budget, called A Plan to Grow Our Economy and Make Life More Affordable (Budget 2022). Budget 2022 is the first “post-pandemic” budget…Read More

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Everyone makes (DC contribution) mistakes. Soon it will be easier to fix them.

This Sidebar has now been updated by our January 4, 2024 Sidebar: “Everyone makes (DC contribution) mistakes. So, what is the process for fixing…Read More

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Temporary DB Plan Funding Relief Introduced in Ontario

On September 21, 2020, the Ontario Government filed Regulation 520/20 under the Ontario Pension Benefits Act (“Ontario PBA”), which offers temporary short-term funding relief to eligible employers to assist with cashflow constraints during the COVID-19 crisis. Eligible employers…Read More

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COVID-19: Cross-Canada Updates for Pension Plan Administrators

Updated as of: September 8,2020 (9:00 am ET) Pension regulators and governments across the country have responded to the COVID-19 pandemic. While relief efforts to date vary by jurisdiction and are generally limited by existing pension legislation and regulations, it is clear that…Read More

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COVID-19: Cross-Canada Pension Updates for Employers

Updated as of: August 4, 2020 (9:00 am ET) Pension regulators and governments across the country have implemented a variety of initiatives in response to the COVID-19 pandemic. This Sidebar focuses on employer funding relief initiatives, including a summary of novel solvency…Read More

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A New Agreement Respecting Multi-Jurisdictional Pension Plans is in Force

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

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Helpful Changes are on the Horizon: Ontario Pension Reform Update

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

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The Wildman Case - U.S. Court Provides Practical Guidance On Fulfilling Pension Fiduciary Duties

The 2019 decision of the U.S. District Court for the Western District of Missouri in Wildman v American Century Services, LLC1Read More

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2019 Funding Regulations Refine Ontario’s Defined Benefit Pension Plan Funding Rules

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