Funding Relief Measures for Pension Plans in Quebec and Regulation Changes for Retirement Savings Accounts in Ontario

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, Aug. 22, 2013 /CNW/ - Morneau Shepell examines a series of regulatory issues in the current issue of its newsletter, News & Views.

• QUEBEC - FUNDING RELIEF MEASURES FOR DEFINED BENEFIT PENSION PLANS IN THE PRIVATE SECTOR - The purpose of the draft Regulation is to offer relief measures, for a two-year period, for the funding of deficiencies of defined benefit pension plans in the private sector.
• QUEBEC - FUNDING RELIEF MEASURES FOR PENSION PLANS IN THE MUNICIPAL AND UNIVERSITY SECTORS - The draft Regulation proposes relief measures, for a two-year period, related to the funding of technical actuarial deficiencies for defined benefit plans in the university and municipal sectors.
• QUEBEC - PROPOSED REGULATION CONCERNING TARGET-BENEFIT PENSION PLANS IN CERTAIN PULP AND PAPER SECTOR ENTERPRISES - This new Act permits the establishment of target-benefit plans for employers in the pulp and paper industry who enter into an agreement with a union to establish such a plan while being subject to an order under the Companies' Creditors Arrangement Act.
• FSCO'S POSITION ON THE IMPLICATIONS OF THE CARRIGAN DECISION - On July 3, 2013, FSCO posted on its website its position on the implications of the Carrigan decision for purposes of the PBA.
• ONTARIO AMENDS FINANCIAL HARDSHIP UNLOCKING RULES - On June 20, 2013, the Ontario government filed a regulation that will update the rules for financial hardship unlocking from locked-in retirement savings accounts. The changes come into force effective January 1, 2014.

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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 pension 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 3,000 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.

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