The Ontario government’s new compensation restraint legislation – the Broader Public Sector Executive Compensation Act, 2014 (or "BPSECA") – will come into force on Monday, March 16, 2015. While the proclamation of the Lieutenant Governor has not yet been published in The Ontario Gazette, it is listed in the government’s online listing of proclamations and…
Tag: Broader Public Sector
BPS Compensation and Accountability Legislation Receives Royal Assent
On December 11, 2014, Bill 8, the Public Sector and MPP Accountability and Transparency Act, 2014 (formerly Bill 179), received Royal Assent, as amended by the Standing Committe on General Government. Highlights of the Committee amendments and the impact of the legislation on affected organizations is now available in our FTR Now, “BPS Accountability Legislation Passes…
Reaching Out – Sixth Edition
Dear Friends, With summer heating up, burning human resources issues continue to smolder as well. At Hicks Morley, we hope that you are enjoying the summer sunshine and we welcome you to the Summer 2014 Edition of Reaching Out, designed to address a number of relevant practical issues of particular interest and application to management…
Ontario Budget 2014
On Monday, July 14, 2014, the newly elected Liberal government introduced the 2014 Ontario Budget. As was pledged by Premier Wynne during the election campaign, the new Budget is virtually identical to the version that was first tabled on Thursday, May 1, 2014 (and which triggered the recent election). The newly tabled Budget is still…
Ontario Re-Introduces BPS Accountability, Transparency Legislation (Formerly Bill 179)
On July 8, 2014, the Ontario government re-introduced broader public sector (“BPS”) accountability and transparency legislation. If passed, proposed measures in Bill 8, the Public Sector and MPP Accountability and Transparency Act, 2014, would give the government the authority to create comprehensive compensation frameworks for certain employers in the BPS, and would implement a number…
Ontario Re-Introduces BPS Accountability, Transparency Legislation (Formerly Bill 179)
On July 8, 2014, the Ontario government re-introduced broader public sector (“BPS”) accountability and transparency legislation. If passed, proposed measures in Bill 8, the Public Sector and MPP Accountability and Transparency Act, 2014, identified in the government’s press release would, among other matters: authorize the government to directly control compensation of senior executives in the BPS by…
Ontario Amends “Letter of Credit” and BPS Solvency Funding Relief Regulations
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…
Ontario Government Proposes New Public Sector Compensation Restraint Legislation
On Monday, March 24, 2014, the Ontario government introduced Bill 179, the Public Sector and MPP Accountability and Transparency Act, 2014. If passed, Bill 179 would give the government the authority to create comprehensive compensation frameworks for certain employers in the broader public sector (“BPS”), and would implement a number of measures to enhance “accountability…
Ontario Introduces New BPS Accountability, Transparency Legislation (Bill 179)
On March 24, 2014, the Ontario government introduced Bill 179, the Public Sector and MPP Accountability and Transparency Act, 2014, proposed legislation intended to enhance oversight and increase transparency in the broader public sector (“BPS”). Proposed measures in the Bill identified in the government’s press release would, among other matters: authorize the government to control compensation…
New Pension Asset Transfer, Public Sector Solvency Funding Regulations
On December 14, 2013, the Ontario government published the following regulations under the Pension Benefits Act (the “Act”): O. Reg. 308/13 (Asset Transfers Under Section 80.1 of the Act), providing a supporting asset transfer framework for certain prescribed plans under paragraph 2 of subsection 80.1 (2) of the Act (transition, transfers upon the sale of…