These are among the subjects included in the current issue of the
Morneau Shepell News & Views, a monthly publication dedicated to
providing insights to its clients in Canada
TORONTO, Feb. 27, 2014 /CNW/ - Morneau Shepell presents a brief summary
of elements of the 2014 Budget that concern or impact pension plans,
retirement savings and benefit plans, and analyzes the growing use of
specialty drugs in drug plans in the current issue of its newsletter, News & Views.
2014 FEDERAL BUDGET - Federal Finance Minister Jim Flaherty tabled his 2014 Budget on
Tuesday, February 11, 2014. Here is a brief summary of elements
concerning or impacting pension plans, retirement savings and benefit
ARE SPECIALTY DRUGS A THREAT TO DRUG PLANS? - The specialty drugs sector is growing at a rate of 16 per cent
annually, with the average cost of treatment running at $30,000 per
year. Prices have been soaring in the past few years, a phenomenon we
will shed some light on in this article.
CIA FINAL MORTALITY TABLES RELEASED - On February 13, 2014 the Canadian Institute of Actuaries (CIA)
published the final report and tables on Canadian Pensioners'
Mortality. The report was published after considering comments from
approximately 30 varying sources on the July 31, 2013 draft Canadian
Pensioners' Mortality Report. The final report includes three new sets
of mortality tables.
CLARIFICATIONS ON CPP AND EI DEDUCTIONS FOR WAGE LOSS REPLACEMENT PLANS - CRA has expanded on their initial ruling in an article on wage loss
replacement plans. The article lays out a two-step test to determine
whether payments are subject to deductions for CPP and EI.
CANADA AND U.S. AGREEMENT ON FOREIGN ACCOUNT TAX COMPLIANCE ACT (FATCA) - On February 5, 2014 the Government of Canada announced that Canada
and the United States have signed an intergovernmental agreement
related to FATCA.
MARKET INDICES - Monthly summary of returns from various market indices such as the
TSX Group / PC Bond Indices and Canadian, U.S. and Foreign Equity
Indices. Also includes returns from benchmark portfolios used by
TRACKING THE FUNDED STATUS OF DEFINED BENEFIT PENSION PLANS - Impact of past returns on plan assets and the effect of interest rate
changes on solvency liabilities.
IMPACT ON PENSION EXPENSE UNDER INTERNATIONAL ACCOUNTING - Expense impact for a typical defined benefit pension plan.
About Morneau Shepell Inc.
Morneau Shepell is the largest company in Canada offering human
resources consulting and outsourcing services. The Company is the
leading provider of Employee and Family Assistance Programs, as well as
the largest administrator of retirement and benefits plans. Through
health and productivity, administrative, and retirement solutions,
Morneau Shepell helps clients reduce costs, increase employee
productivity and improve their competitive position. Established in
1966, Morneau Shepell serves more than 8,000 clients, ranging from
small businesses to some of the largest corporations and associations
in North America. With approximately 3,300 employees in offices across
North America, Morneau Shepell provides services to organizations
across Canada, in the United States, and around the globe. Morneau
Shepell is a publicly-traded company on the Toronto Stock Exchange
(TSX: MSI). For more information, visit morneaushepell.com.
SOURCE: Morneau Shepell Inc.
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