New rules for employers to inform workers about hazardous products at work
This and other subjects are included in the current issue of the Morneau Shepell monthly publication, News & Views
TORONTO, Jan. 14, 2016 /CNW/ - In the January 2016 issue of its monthly newsletter, News & Views, Morneau Shepell provides a detailed look at new rules and changes to the Workplace Hazardous Materials Information System (WHMIS). In this edition, the Company also looks at a new method that could reduce the pension plan cost reported on employer financial statements.
- Informing workers about hazardous products at work – New legislative provisions introduced by the federal government will take effect over a three-year period. Morneau Shepell explains to employers the process and how to be prepared for the changeover in rules and regulations.
- Accounting for employee benefits: alternative methods for determining current service cost and interest cost – During the past year, major international audit firms have started looking at the possibility of using alternative methods for determining the interest rate used to calculate current service cost and interest on net defined benefit assets (liabilities).
- Update: Ontario and New Brunswick amend regulations to adopt new CIA mortality tables – As a result of these new amendments, all provinces now require the use of the new CIA mortality tables. The new tables came into force October 1, 2015, in all provinces except Ontario, where they came into force on December 10, 2015. Morneau Shepell breaks down what this means for employers.
- Market Indices – Monthly summary of returns from various market indices such as the FTSE TMX Bond Indices and Canadian, U.S. and Foreign Equity Indices. Also includes returns from benchmark portfolios used by pension funds.
- 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 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 - Pension/Retirement