Pension Funding Reform Continues: Taking Aim at Target Benefit Multi-Employer Pension Plans

Pension plans that meet the definition of specified Ontario multi-employer pension plans (SOMEPPs) are one step closer to having the option to convert accrued defined benefits (DB) to target benefits (TB) – and one step closer to a permanent exemption from solvency funding. If your organization participates in a SOMEPP, find out what this could mean for your organization in this FTR Now.

Bill 177 Receives Royal Assent, Amends WSIA, OHSA, PBA and BPSECA

On December 14, 2017, Bill 177, Stronger, Fairer Ontario Act (Budget Measures), 2017, received Royal Assent. Bill 177 is omnibus legislation which amends several statutes, including the Workplace Safety and Insurance Act, 1997, the Occupational Health and Safety Act, the Pension Benefits Act and the Broader Public Sector Executive Compensation Act. Workplace Safety and Insurance…

FTR Now Written by Natasha Monkman, Jordan Fremont, Stephanie Kalinowski and Paul Migicovsky Mentioned in Benefits and Pensions Monitor on the Next Wave of Pension Reform

An FTR Now written by Hicks Morley’s Natasha Monkman, Jordan Fremont, Stephanie Kalinowski and Paul Migicovskywas was mentioned in the November 21, 2017 Benefits and Pensions Monitor Daily News Alert. The alert summarizes the FTR Now titled “Ontario’s Next Wave of Pension Reform”, which discusses the new legislation that will, if passed, change the retirement framework in Ontario – and the rules around pension plan administration, governance and funding.

Bill 177 Introduces Transitional Provisions for WSIB Mental Stress, Increased Fines under OHSA

On November 14, 2017, the Ontario government introduced Bill177, the Stronger, Fairer Ontario Act (Budget Measures), 2017, omnibus legislation which, if passed, would amend several employment-related statutes. In this FTR Now, we discuss the proposed changes to the Workplace Safety and Insurance Act, 1997 and the Occupational Health and Safety Act.

Ontario’s Next Wave of Pension Reform

New legislation has been tabled that will, if passed, change the retirement framework in Ontario – and the rules around pension plan administration, governance and funding. The proposals outlined in Bill 177, Stronger, Fairer Ontario Act (Budget Measures), 2017, include permanent solvency funding measures, discharges for annuity purchases, a new registry for missing beneficiaries, multi-employer pension plans and target benefits changes and a host of other key amendments. Learn more about these important Bill 177 pension proposals and how they could impact your organization in this FTR Now.