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defined contribution plan

By Occasional Contributors | 12 Minutes Read June 29, 2018

Ontario pension reforms – Where are they now?

The pace of pension reforms in Ontario has been fast-moving since the release of the Ontario Budget on March 28, 2018. Among other things, the Budget announced continued work on the new funding rules for defined benefit pension plans and related increases to coverage under the Pension Benefits Guarantee Fund, a consultation on a new funding framework for target benefit multi-employer pension plans, consultations regarding new protections for plan members affected by employer insolvencies, and continued work on the new pension and financial services regulator, the Financial Services Regulatory Authority.

Article by Occasional Contributors / Employee Relations, Employment Standards, Payroll, Union Relations / annuity discharge regulations, benefit plans, Canada pensions and benefits law, DB plan funding, DC plans, defined benefit pension plan, defined contribution pension plan, defined contribution plan, disclosure to members, Financial Services Regulatory Authority, Financial Services Regulatory Authority of Ontario Act, FSRA, MEPP, multi-employer pension plan, PBA, PBGF, pension benefits act, pension plan administration, pension plans, pension reform, Pensions Benefits Guarentee Fund, reduced solvency deficiency, solvency funding, Supplemental Pension Plans Act

By McCarthy Tétrault LLP | 3 Minutes Read May 4, 2018

Giving individual investment choice in DC plans is a bad idea

It is no secret that DB plans are too financially risky for individual employers. It is also no secret that, on average, it costs approximately 92% more to provide the same $1 of retirement income under a DC plan than under a DB plan. DB plans are just that much more cost efficient. To provide more satisfactory results, DC plans should take the best features of DB plans.

Article by McCarthy Tétrault LLP / Finance and Accounting, Payroll / defined benefit plan, defined contribution plan, investment choice, retirement saving

By Amery Boyer | 2 Minutes Read May 30, 2012

Applying pension lessons learned from paper mill closures

On May 17, 2012, the Province of Nova Scotia adopted Bill 86, the NewPage Port Hawkesbury Pension Plans Act in response to a request by members of Local 972 of the Communications, Energy, and Paperworkers Union of Canada. The Act extends the life of four underfunded defined pension plans for the employees of the former NewPage Port Hawkesbury pulp and paper mill.

Article by Amery Boyer / Payroll, Union Relations / collective agreement, defined contribution plan, employment law, Nova Scotia, pension liability, pension plan, Pension wind-up, underfunded defined pension plans, wind-up period

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