Ontario releases 2014 budget and proposes changes to pension regulations; Report on U.S. public pension plan funding released

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, May 23, 2014 /CNW/ - Morneau Shepell examines Ontario's budget and breaks down proposed provincial changes to pension legislation and looks at a report on U.S. public pension plan funding in the current issue of its newsletter, News & Views.

• ONTARIO'S 2014 BUDGET - On May 1, 2014, Ontario's Liberal Government released its 2014 Budget. Given that an election was called in Ontario for June 12, depending on the election results, the Budget proposals might never come to fruition.
• ONTARIO PROPOSES CHANGES TO PENSION REGULATIONS - Morneau Shepell provides an overview of the Ontario government's proposed changes to pension regulations.
• REPORT ON (U.S.) PUBLIC PENSION PLAN FUNDING - The Society of Actuaries commissioned an independent expert panel to develop recommendations designed to strengthen funding of public sector pension plans in the U.S. This report includes some observations that may be relevant to public sector plans in Canada.
• ALBERTA INTRODUCES AND THEN POSTPONES PENSION BILLS - On April 16, 2014, the Government of Alberta introduced two pieces of pension legislation. Following public opposition and negotiations with unions, the Government referred them to the Standing Committee on Alberta's economic future.
• 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 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.

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