FTR Quarterly

FTR Quarterly – 2016, Issue 1

FTR Quarterly

FTR Quarterly – 2016, Issue 1

Date: May 31, 2016

In This Issue

Featured Articles

Conducting a Benefits Plan Governance Health Check

By: Elizabeth M. Brown and Natasha D. Monkman

Pension plan governance has long had headline-grabbing status – and most plan sponsors regularly review their governance framework to identify and address any governance gaps. At the same time, employers who sponsor group benefits plans too rarely build regular reviews of their benefits plan into their larger governance responsibilities.

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Preparing for the ORPP

By: Hicks Morley

The Ontario Retirement Pension Plan (ORPP) was first announced in the 2014 Ontario Budget as a major initiative to help address the Ontario government’s concerns about retirement income adequacy, particularly for middle income earners. Since then, the Ontario government has made a series of announcements about the design and roll-out of the ORPP, culminating with the introduction of much anticipated new implementation legislation on April 14, 2016.

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Featured Group

Pension, Benefits & Executive Compensation

Pension Benefits and Executive Compensation Header Image From plan design, compliance and governance, to complex corporate transactions, wind ups and insolvency, Hicks Morley’s Pension, Benefits & Executive Compensation practice group provides tailored and innovative advice to employers and governments and pragmatic solutions to their unique business needs – whether in the context of single employer defined benefit pension plans, target benefit plans, jointly sponsored pension plans or benefits administration.

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Did You Know?

Uncle Sam Welcomes Your Pension Investments

By: Hicks Morley

Canadian pension funds are continually seeking investment opportunities abroad. Offerings of investments in U.S. real estate and infrastructure projects will likely increase as a result of recent U.S. legal reforms which aim to attract foreign investment in these areas.

The new law exempts qualified foreign pension funds (QFPF) from a U.S. tax that applies to foreign investors’ gains from disposition of a U.S. real property interest. Most broad-based Canadian registered pension plans should satisfy the 5-part test for QFPF status. Canadian pension master trusts should also qualify in most cases. However, plans with few remaining members, and master trusts that include such plans, may not qualify.

Managers offering investments in U.S. real estate and infrastructure will ask the investing pension fund to certify its QFPF status. Contact your regular Hicks Morley lawyer should you require assistance reviewing a pension fund investment agreement or addressing your plan’s QFPF status.

Thank You

Harvey A. Beresford, Q.C.

Harvey Beresford Image In January 2016, Harvey Beresford retired from the partnership after 44 years with Hicks Morley to start a new independent mediation/arbitration practice. A founding member of the firm, Harvey is regularly recognized as one of the leading labour and employment lawyers in Canada. His extensive knowledge in a wide variety of practice areas and his dedication to the firm is inspiring.

We thank Harvey for his tremendous contribution and dedication to the firm and wish him every success in his mediation/arbitration practice.

In Memoriam

Christopher Riggs, Q.C. (1942 – 2016)

Christopher Riggs Photo It is with great sadness that we note the passing of Christopher Riggs. Christopher passed away on January 13, 2016.

Chris joined the firm in 1972 at its inception and was the firm’s managing partner from 1994 to 2002 through a period of great expansion. Chris retired from practice in 2013. Chris was one of the country’s leading labour, employment and administrative lawyers and was universally respected by his colleagues, the judiciary and opposing counsel. He was also a mentor to many of us at the firm and was a role model for generations of young lawyers, both within Hicks Morley and in the broader community.

The articles in this Client Update provide general information and should not be relied on as legal advice or opinion. This publication is copyrighted by Hicks Morley Hamilton Stewart Storie LLP and may not be photocopied or reproduced in any form, in whole or in part, without the express permission of Hicks Morley Hamilton Stewart Storie LLP. ©