BMKP Sidebars

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Temporary DB Plan Funding Relief Introduced in Ontario

September 23, 2020

Authors

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

September 08, 2020

Authors

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

August 04, 2020

Authors

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

July 20, 2020

Authors

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

December 02, 2019

Authors

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

September 16, 2019

Authors

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

June 03, 2019

Authors

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

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Pension and Benefit Highlights from Ontario's Budget 2019

April 15, 2019

Authors

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

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Investing in the Middle Class, Budget 2019 Pension, Benefit and Executive Compensation Highlights

March 21, 2019

Authors

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

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Employer Benefit Plans to Resume Responsibility for Dependent Children Rx Coverage on March 1, 2019

January 21, 2019

Authors

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