This week saw the culmination of many months of work by the Ontario and Federal Governments with respect to solvency funding relief measures. As of yesterday, June 24, 2009, both sets of solvency funding relief regulations have been enacted. The new regulations attempt to balance the goals of maintaining benefit security for employees and retirees,…
Tag: Federal
Court Dismisses Motion to Certify Class Action for Overtime Wages
On June 18, 2009, Madam Justice Lax of the Ontario Superior Court of Justice released her decision, in which she dismissed the motion for certification of a proposed class action brought by Dara Fresco on behalf of current and former employees in the retail branches of the Canadian Imperial Bank of Commerce (“CIBC”) with respect…
Federal Government Consults on Changes to Labour Standards
The Federal Government has launched a consultation process to determine whether changes should be made to federal labour standards legislation, which is found in Part III of the Canada Labour Code (the “Code”) and the Canada Labour Standards Regulations. The consultations cover a wide range of subjects, and, if acted upon, would have a significant…
No Surplus Distribution Required on Partial Termination of Federally-Regulated Pension Plans
In its much anticipated decision in Cousins v. Canada (Attorney General) and Marine Atlantic Inc. (“Marine Atlantic”), the Federal Court of Appeal has concluded that the federal Pension Benefits Standards Act, 1985 (the “PBSA”) does not require a proportionate distribution of surplus on a partial termination of a defined benefit (DB) pension plan. The Federal…
Federal Budget 2008
IN THIS ISSUE: Tax-Assisted Savings and Retirement Initiatives Tax-Free Savings Accounts Life Income Funds (LIF) Registered Education Savings Plans (RESP) Registered Disability Savings Program (RDSP) Guaranteed Income Supplement (GIS) Employment Insurance Reform Benefits Motor Vehicle Expenses Medical Expense Tax Credit (METC) Application of GST/HST to Health Care Services and Products Continued Support for Common Securities…