Morneau Shepell examines the link between workplace stress levels and mental health issues and the 2013 financial position of pension plans in Canada in the current issue of its newsletter, News & Views.

   -- STRONG IMPROVEMENT IN THE FINANCIAL POSITION OF PENSION PLANS - The 
      financial position of pension plans improved significantly in 2013. The 
      good performance of the stock markets combined with rising interest rates 
      helped raise solvency ratios for most pension plans by about 20 per cent. 

   -- NEW RESEARCH ON WORKPLACE STRESS LEVELS AND THE LINK TO MENTAL HEALTH A 
      new study conducted by Morneau Shepell and Queen's University looks at 
      the connection between productivity and mental health in the workplace. 
      The results were reported by Executive Chairman, Bill Morneau, to an 
      audience of Human Resources Leaders in Toronto in December 2013. 

   -- ACTUARIAL VALUATION OF THE CANADA PENSION PLAN - The 26th actuarial 
      report on the Canada Pension Plan (CPP) has been released. It basically 
      shows that the CPP is sustainable over the next 75 years with 
      employer/employee contributions continuing at the current rate of 9.9 per 
      cent of covered earnings. 

   -- ACTUARIAL VALUATION OF THE QUEBEC PENSION PLAN - The Régie des 
      rentes du Québec has recently completed an actuarial valuation of 
      the Quebec Pension Plan. This valuation shows that the contribution rate 
      already scheduled to increase until 2017 may need to increase further in 
      future years. 

   -- NEW BRUNSWICK ANNOUNCES DRUG PLAN On December 10, 2013, the New Brunswick 
      government introduced Bill 27, the Prescription and Catastrophic Drug 
      Insurance Act, which, if passed, would create the most comprehensive 
      provincial prescription drug benefit in the country. 

   -- 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.

About Morneau Shepell Inc.

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 retirement 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 3,300 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: The Wall Street Journal