Ontario Bar Association (OBA): Pensions and Benefits 17th Annual Hot Spots

Experts discuss the evolving legal landscapes for defined contribution pension plans and group benefits, and how these changes will affect practitioners working in this legal area.  Faculty  will  also  review  changes  related  to  shared  risk  plans,  and  what  the  new  changes  mean  for consolidation in the pension sector. Agenda Topic Decumulation Options on the Horizon

Ontario Budget Bill (Bill 100) Passes

As previously reported, on April 11, 2019, the Ontario government released its 2019 Budget and introduced Bill 100, Protecting What Matters Most Act (Budget Measures), 2019. Bill 100 received Royal Assent on May 29, 2019. Of particular interest to employers and human resource professionals are the amendments made to the following statutes: Public Sector Labour…

Bill 66 Passes, Amends ESA, LRA and PBA

On April 3, 2019, Bill 66, Restoring Ontario’s Competitiveness Act, 2019, received Royal Assent. Bill 66 is omnibus legislation which amends various statutes, including the following employment-related statutes: Employment Standards Act, 2000 (ESA) The ESA has been amended to remove the need for employers to obtain the approval of the Director of Employment Standards in…

Notice of Intended Decision Considers Whether Vacation Pay Forms Part of Pensionable Earnings

The Ontario Superintendent of Financial Services (Superintendent) issued a Notice of Intended Decision (NOID) in late 2018 that considered whether vacation pay should be factored into a pension plan’s definition of pensionable earnings. The NOID indicates that, in the absence of clear exclusionary language, the Superintendent will interpret the phrase “base pay” to include vacation…

More Changes to Workplace Laws Are on the Horizon for Ontario Employers

On December 6, 2018, Bill 57, Restoring Trust, Transparency and Accountability Act, 2018 passed Third Reading and received Royal Assent. On the same date, the government tabled Bill 66, Restoring Ontario’s Competitiveness Act, 2018, omnibus legislation which, if passed, will make significant amendments to the Employment Standards Act, 2000 (ESA), the Labour Relations Act, 1995 (LRA), the Pension Benefits Act (PBA) and other statutes.

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.