This and other subjects are included in the current issue of the Morneau Shepell monthly publication, News & Views
TORONTO, Sept. 14, 2016 /CNW/ - In the September 2016 issue of its monthly newsletter, News & Views, Morneau Shepell reviews new provincial, pension-related measures.
- Ontario: Revised proposed rules on Pension Advisory Committees released – Ontario has released revised draft regulations relating to Pension Advisory Committees (PACs). The publication seems to indicate that the government is likely to adopt new rules on PACs in the near future. Morneau Shepell experts identify the changes made in the most recent draft PAC regulation and explain what these changes will mean for plan administrators.
- British Columbia: Union consent for conversions to target benefit plans – In August 2016, the Financial Institutions Commission of British Columbia (FICOM) released a bulletin titled, "Clarification of Union Consent Requirement for Target Benefit Plan Conversions." The Bulletin clarifies the requirement for union consent when a plan provision is converted to a target benefit provision.
- Tracking the funded status of pension plans as at August 31, 2016 – During the month of August, Canadian universe bonds, Canadian long-term bonds, Canadian and global equity markets and alternative investments showed positive returns, while Canadian long-term provincial bonds showed negative returns.
- Impact on pension expense under international accounting as at August 31, 2016 – The expense impact for a typical defined benefit pension plan that starts the year at an arbitrary value of 100 (expense index).
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Morneau Shepell is the only human resources consulting and technology company that takes an integrative approach to employee assistance, health, benefits and retirement needs. The Company is the leading provider of employee and family assistance programs, the largest administrator of retirement and benefits plans and the largest provider of integrated absence management solutions in Canada. 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 approximately 20,000 clients, ranging from small businesses to some of the largest corporations and associations in North America. With almost 4,000 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 - Corporate
For further information: Cathren Ronberg, Morneau Shepell, 416-355-5632, [email protected]