On May 17, 2014, the Ontario government published regulatory amendments to Regulation 909 (General) under the Pension Benefits Act that: clarify that for purposes of determining the total amount of all letters of credit (“LOC”) held in trust for the pension fund for inclusion in the solvency asset adjustment, the value of any special payments…
Industry: Social Services
CAPSA Releases Guideline on Defined Contribution Pension Plans
On March 28, 2014, the Canadian Association of Pension Supervisory Authorities (“CAPSA”), the association which represents all Canadian pension regulators, released the final version of Guideline No. 8: Defined Contribution Pension Plans, (“DC Guidelines”) along with an accompanying reference document. The DC Guidelines were issued following the circulation of a draft version and extensive public…
Ontario Budget 2014 and the Provincial Election – Voting Requirements and More
Last week saw significant developments at Queen’s Park that will be of interest to all employers in Ontario. On Thursday, May 1, 2014, the Ontario government introduced its 2014 Budget, entitled Building Opportunity, Securing Our Future (the “Budget”). On the same day, the government introduced Bill 194, the Building Opportunity and Securing Our Future Act…
Provincial Parliament Dissolved; General Election on June 12, 2014
On May 2, 2014, the 40th Parliament of Ontario was dissolved. As a result, all outstanding business before the Legislative Assembly, including all government and Private Members’ Bills, expired on the Order Paper. Parliament will reconvene following the general election, which has been set for June 12, 2014. More information is available in our FTR…
Employer Permitted to Define “Spouse” under Benefit Plan to Exclude Married but Separated Spouses
In a recent decision of the Ontario Human Rights Tribunal (“Tribunal”) in VanderLinde v. Oshawa (City) (“VanderLinde”), the Tribunal found that it is not discriminatory for an employer to require that an employee’s legally married spouse be living with the employee as a condition of eligibility as a spouse under its group benefit plan. In…
Ontario Government Introduces Budget 2014
On May 1, 2014, the Ontario government tabled its Budget 2014: Building Opportunity, Securing Our Future. An FTR Now providing an analysis of proposals of interest to employers and plan administrators will be available shortly on our website.
Three New Leaves of Absence Added to the Employment Standards Act, 2000 Effective October 29, 2014
On April 29, 2014, the Ontario Legislature passed Bill 21, the Employment Standards Amendment Act (Leaves to Help Families), 2014. Royal Assent was given on the same day. Bill 21 will amend the Employment Standards Act, 2000 (the “Act“) to add three new job-protected leaves of absence effective October 29, 2014 – family caregiver leave,…
Ontario Proposes Significant Pension Regulation Reforms
On April 25, 2014, the Ontario government released four proposals (the “Proposals” or the “Proposal”) in respect of proposed amendments to Regulation 909 (the “Regulations”) under the Pension Benefits Act (“PBA”) and is seeking comments from interested stakeholders. The Proposals relate to PBA reforms introduced or announced by the Ontario government over the past four…
Bill 21, Leaves to Help Families Act, Coming Into Force October 29, 2014
On April 29, 2014, Bill 21, Employment Standards Amendment Act (Leaves to Help Families), 2014, as amended by the Standing Committee on General Government, passed Third Reading in the Ontario Legislature and received Royal Assent. As previously reported, the Bill will allow eligible employees to take the following job-protected unpaid leaves of absence: •Family Caregiver Leave…
Ontario Proposes Significant Regulatory Amendments under Pension Benefits Act
On April 25, 2014, the Ontario government announced a number of proposed amendments to Regulation 909 made under the Pension Benefits Act (“PBA”), further to its ongoing pension reform initiatives. The government is inviting comments from stakeholders on the following proposals: Proposed Amendment to Regulation 909 under the Pension Benefits Act: Disclosure of Environmental, Social…