Knowledge & Insights
On October 8 and 9, 2014, Morneau Shepell partnered with the Public Policy Forum and Sun Life to host the second National Summit on Pension Reform in Toronto.
At the best of times, making changes to a DB pension plan is a task, as sponsors try to balance business constraints with funding and risk concerns. But throw a union into the mix and the process becomes even more difficult.
The biggest stories of the quarter with significant ongoing impact
Future boards will know the rules and what to do when shared risk plans are in deficit or surplus situations and that is one of the key advantages, says Steve Mahoney, partner, asset and risk management, at Morneau Shepell.
Endowments and Foundations ("E&Fs") typically accumulate assets and disperse income to beneficiaries over extended periods of time, potentially covering several decades.
Unions are generally opposed to target benefit plans, a newish pension vehicle that looks like a defined benefit plan but strips away the guarantee.
Target benefit plans (TBPs) have been making significant inroads in the public sector of late, more so than most of us realize.
On July 22, 2014, the Alberta Government passed the new Employment Pension Plans Regulation (the "New Regulation").
The New Brunswick government adopted legislation in a special one-day session permitting the two Fraser Papers pension plans to move to the "shared risk" model.
On July 22, 2014, the Alberta Government passed the new Employment Pension Plans Regulation (the “New Regulation”).