Toronto
Email: terra.klinck@bmkplaw.com
Direct:416-922-1106
Mobile:289-795-4598
Main:416-368-6800
Year of Call: Ontario, 1997
Terra has over 20 years’ experience advising both provincially and federally regulated private employers and administrators, primarily in the private sector, on all legal issues relating to pension and benefit plans.
In recent years, much of Terra’s practice has focused on advising private sector employers restructure their legacy DB pension arrangements, including investment restructuring and de-risking initiatives (e.g., buy-in and buy-out annuity purchases), and the full closure of DB plans for international and national employers. Coincidentally, she had increased experience with DC arrangements and legal issues relating to such plans.
Terra has extensive experience advising on pension and benefit matters in corporate transactions, including mergers and acquisitions, insolvencies and corporate restructuring.
Terra has a wealth of experience advising employers and plan administrators on a wide range of governance and administrative matters relating to pension and employee benefits plans.
In addition to her pension and benefits practice, Terra advises Boards of Directors and senior management on executive compensation matters. She has expertise in the design, implementation and drafting of equity compensation plans and other long-term incentive and compensation plans, including compliance with tax and other regulatory requirements.
Acted as pension and benefits counsel to a large steel manufacturer in its 2014-2017 Companies Creditors’ Arrangement Act proceedings, in which the restructuring of legacy pension and post-retirement benefits were a critical aspect of the restructuring. Acted for this employer in 2018 in the successful further restructuring of the "post-retirement benefit deal" with the unions and retiree groups.
In 2018, advised the employer sponsor of a public sector jointly sponsored pension plan on the creation of a new benefit option under the plan for the not-for-profit sector.
Acted for both purchasers and sellers, advising on pension, benefits and employment matters, in a number of corporate M&A transactions in recent years.
In 2015-2016, acted as pension counsel to one of two pension plans who entered into a novel $530 million buy-in annuity transaction where longevity and inflation risk were transferred to the insurer. This was the largest transaction of its kind in Canadian history.
