On September 26, 2012, the government announced draft omnibus legislation, the Protecting Public Services Act, 2012 (the “Draft Bill”), that would implement new, substantially more restrictive compensation restraint measures, and impose a significant new provincially mandated collective bargaining regime, for the Broader Public Sector (“BPS”).
Tag: Broader Public Sector
Ontario Files BPS Solvency Funding Relief, JSPP Funding Rules and Filing of Actuarial Valuations Regulation
On June 22, 2012, the Ontario government filed O. Reg 164/12 made under the Pension Benefits Act, amending Regulation 909 (General). Generally speaking, plan administrators are required to file actuarial valuations within nine months from the date of the valuation. O. Reg 164/12 provides an extension to the window for filing actuarial valuations in accordance…
Ontario Announces Consultations to Enhance BPS Pension Fund Investment Efficiencies
Further to initiatives first announced in its 2012 Budget, the Ontario government has appointed a special Pension Investment Advisor, Bill Morneau, to develop recommendations for the government’s consideration through a public consultation process in anticipation of a new legislative framework that will facilitate the pooling of pension fund assets in the broader public sector (“BPS”)….
Regulation Proposed To Extend Filing Deadlines of Public Sector, BPS Pension Plans
The Ontario government has proposed an amendment to Regulation 909 made under the Pension Benefits Act, Filing Extension for Certain Pension Plans in the Public Sector and Broader Public Sector. This regulation would extend the timeframe for these pension plans to file their actuarial valuation reports and extend the time for the commencement of special…
The Drummond Report – Impact on the Broader Public Sector
On February 15, 2012, the Commission on the Reform of Ontario’s Public Services (the “Commission”) released its long-awaited, 543-page report (the “Report”, commonly referred to as the “Drummond Report”) which identifies sweeping reform measures aimed at increasing efficiencies within the broader public service (“BPS”). In our companion FTR Now, Drummond Commission Reports on Elementary and…
BPS Solvency Funding Relief Regulation Amended
On February 17, 2012, the Ontario government filed an amendment to O. Reg. 178/11 (Solvency Funding Relief For Certain Public Sector Pension Plans) under the Pension Benefits Act. O. Reg. 12/12 prescribes those plans that have successfully applied for and, are receiving, solvency funding relief under O. Reg. 178/11. The Regulation is now in force….
Second Window for Broader Public Sector Solvency Funding Relief Announced
On November 2, 2011, the Ontario government announced the second window of eligibility for broader public sector (“BPS”) solvency funding relief. As previously discussed in our FTR Now of February 11, 2011, “Solvency Funding Relief Details for Broader Public Sector Released by Ontario Government”, BPS solvency funding relief provides BPS pension plans two stages of…
Broader Public Sector Perquisites Directive Issued by the Ontario Government
Management Board of Cabinet has issued the Broader Public Sector Perquisites Directive (the Directive), dated August 2, 2011, which will apply to any person in a designated broader public sector (BPS) organization, including appointees, board members, elected officials (e.g. school trustees) and employees. The Directive has been issued under the provisions of the Broader Public…
“Publicly Funded Organization” Exclusions Designated Under BPS Act
On June 7, 2011, the Ontario government filed a regulation under the Broader Public Sector Accountability Act, 2010, expressly designating (1) district social services administration boards established under the District Social Services Administration Boards Act, and (2) “First Nations” as defined in the Indian Act as excluded “Publicly Funded Organizations” for the purposes of the…
BPS Accountability “Perquisites” Provisions To Come Into Force
August 2, 2011 has been named as the date sections 11.1 and 11.2 of the Broader Public Sector Accountability Act, 2010 will come into force. These amendments are contained in Schedule 4 of the Better Tomorrow for Ontario Act (Budget Measures), 2011. Section 11.1 pertains to the issuance of perquisite directives by the Management Board…