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defined benefit pension plans

By McCarthy Tétrault LLP | 4 Minutes Read August 31, 2016

DB pension plans and Ontario’s consultation on solvency funding rules – Now is the opportunity for employers to speak up

Employers that sponsor defined benefit (“DB”) pension plans know that contribution requirements can be volatile and onerous, especially given current low interest rates. The Ontario Government has taken note. In its recent consultation paper, the Government proposes several approaches to change the current DB funding rules, including the complete elimination of solvency funding. Comments on the Consultation Paper are due by September 30, 2016. The Ontario Government then intends to hold a second public consultation on any proposed funding reforms in the Fall 2016.

Article by McCarthy Tétrault LLP / Employee Relations, Payroll, Union Relations / actuarial valuation report, DB funding regime, DB funding rules, DB pension plans, defined benefit pension plans, elimination of solvency funding, employment law, funding policy, letter of credit, pension benefits act, Pension Benefits Guarantee Fund, pension plans, Provision for Adverse Deviation, Review of Ontario’s Solvency Funding Framework for Defined Benefit Pension Plans, solvency contribution requirement, solvency funding

By Amery Boyer | 2 Minutes Read March 12, 2013

Nova Scotia announces changes to rules for funding of defined benefit plans

Pension funding rule changes announced on February 13, 2013, will protect jobs and preserve benefits for thousands of private-sector workers, according to the Government of Nova Scotia.

Article by Amery Boyer / Employee Relations, Payroll / defined benefit pension plans, defined benefit plans, employment law, five years to make the plan solvent, forced to lay off workers or reduce benefits, members' contributions, Nova Scotia, Pension funding rule, pension plans, plan was underfunded, private-sector workers, recession and low interest rates, retirement, solvency shortfall payments, underfunded

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