26 02, 2015

Quebec : Funding and restructuring of multiemployer pension plans

2015-02-26T01:42:12-07:00February 26th, 2015|Categories: Pension Funding|Tags: , , |

On February 18, 2015, the Quebec Minister of Employment and Social Solidarity, François Blais, tabled Bill 34, “An Act to amend the Supplemental Pension Plans Act with respect to the funding and restructuring of certain multi-employer pension plans.” This Bill amends the Supplemental Pension Plans Act (“SPP Act”) to introduce special measures for the funding of certain multi-employer pension plans as well as rules that apply to the restructuring of those plans when contributions are found to be insufficient. […]

6 12, 2014

Quebec legislators approve shared-risk structure for municipal pension funds

2014-12-06T00:05:20-07:00December 6th, 2014|Categories: Pension Funding|Tags: , , , |

Quebec municipal defined benefit plans will change to a shared-risk structure from a final-salary pension framework under legislation approved Thursday by the province’s National Assembly. Retroactive to Jan. 1, 2014, workers will contribute more to ease past and future plan deficits. Originally, the bill required workers and employers to pay an equal share, but an amendment approved with the final bill will allow employers through negotiations with workers to lower employees’ share of the payments toward the deficit to [...]

24 02, 2014

Quebec gives municipalities tools to deal with pension costs

2014-03-10T23:55:46-07:00February 24th, 2014|Categories: Defined Benefit Plans|Tags: , , |

Quebec municipalities that have been begging the provincial government for measures to help them deal with surging pension-plan costs received an answer to some of their pleas on Thursday. Quebec Labour Minister Agnès Maltais tabled Bill 79 in the National Assembly, “An Act to provide for the restructuring of … municipal defined benefit plans,” that responds to many of their requests to lessen the cost burdens on municipalities and would force a timetable for negotiations between municipalities and their [...]