On September 30, 2010, the Ontario government announced that Harry Arthurs will chair the Funding Review of the unfunded liability of the Workplace Safety and Insurance Board. As announced by the WSIB on the same date, the year-long Funding Review will gather input from experts and stakeholders regarding policy issues relating to the financial future…
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Federal Government to Set Limits On EI Premium Rate Increase for 2011
On September 30, 2010, the federal government announced plans to limit the Employment Insurance (“EI”) maximum premium rate increase for 2011 to five cents per $100 of insurable earnings, and ten cents per $100 of insurable earnings for subsequent years. The rate increase is set by the Canada Employment Insurance Financing Board, which by November…
FSCO Publishes FAQ on Surplus Distribution for Full or Partial Plan Wind Ups
The Financial Services Commission of Ontario (“FSCO”) updated its long-running online “FAQ” for pension plan administrators to set out FSCO’s position on surplus distribution on full or partial plan wind ups in light of recent amendments to the Pension Benefits Act. A detailed discussion of the FAQ and FSCO’s position on this point is available…
New General Pension Regulation Amendments Filed
On September 17, 2010, the Ontario government filed O. Reg. 367/10 under the Pension Benefits Act, amending Reg. 909 of R.R.O. 1990 (General). The amendments extend certain filing deadlines and funding schedules under the temporary solvency funding relief regulations for two university-sponsored pension plans. By way of background, Ontario’s temporary solvency funding relief regulations were…
New Education Act Regulation Filed – Audit Committees
On September 13, 2010, the Ontario government published a regulation setting out the rules applicable to audit committees established by district school boards under subsection 253.1(1) of the Education Act. O. Reg. 361/10 is now in force.
Ontario Not-For-Profit Corporate Governance Legislation Ordered for Third Reading
On September 13, 2010, Bill 65, the Not-for-Profit Corporations Act, 2010, was reported as amended by the Standing Committee on Social Policy and Ordered for Third Reading. As previously reported, the legislation is designed to modernize the legal framework in which not-for-profit corporations operate.
Technical Pension Amendments Proclaimed In Force on October 1, 2010
On October 1, 2010, amendments to the Pension Benefits Act and Financial Services Commission of Ontario Act, 1997, set out in Bill 16, the Foundation for Jobs and Growth Act, 2010, will come into force. These Bill 16 amendments permit the Ontario government and the pension regulator to enter into agreements with other designated provincial…
Proposed Integrated Accessibility Regulation Under the AODA: FTR Now
On Friday, September 10, 2010, Hicks Morley published a detailed overview of the “Integrated Accessibility Regulation Proposed Under the AODA” in an FTR Now, which is available on our website. As previously reported, the proposed Integrated Accessibility Regulation was published by the Ontario government on September 2, 2010.
New Education Act Regulation Amendments Filed – Operation of Schools, Exchange Teachers
On September 8, 2010, the Ontario government published a regulation implementing a number of amendments to Reg. 298 of R.R.O. 1990 (Operation of Schools). O. Reg. 341/10 (Operation of Schools–General) adds section 22.1, which deals with exchange teachers. Among other things, the amendments define “criminal background checks” and “jurisdiction outside Ontario”. The O. Reg. 341/10…
New General Pension Regulation Amendments Filed
On September 8, 2010, the Ontario government published O. Reg. 342/10 (General) under the Pension Benefits Act, amending Reg. 909 of R.R.O. 1990. The amendments authorize the Ontario government and the pension regulator to enter into reciprocal agreements with designated jurisdictions providing for the orderly regulation of multi-jurisdictional pension plans. O. Reg. 342/10 will come…