New Quebec Bill will impact university DB plans and all DC plans

This and other subjects are included in the current issue of the Morneau Shepell monthly publication, News & Views

TORONTO, Nov. 17, 2015 /CNW/ - In the November 2015 issue of its monthly newsletter, News & Views, Morneau Shepell provides a detailed look at the new Bill 75 in Quebec, which restructures legislation governing university sector pension plans. The newsletter also examines new pension guidelines in Alberta and Ontario.

• Quebec: Bill 75 will impact university DB plans and all DC plans – This month Quebec introduced Bill 75. Morneau Shepell explains what the Bill will mean to stakeholders in the university sector. The Bill proposes that all university-sector DB plans must be restructured to limit totals costs and revise cost-sharing by December 31, 2017 and also introduces the possibility that all DC plans (not only university-sector plans) could pay variable benefits to a retired member.
• Ontario proposes to extend solvency funding relief in broader public sector – The Ontario Ministry of Finance has proposed to extend Stage 2 solvency funding relief to more defined benefit pension plans in the broader public sector. Morneau Shepell looks at what this will mean for stakeholders.
• Ontario investment policies: DC plans and ESG factors –The Financial Services Commission of Ontario has released final versions of its proposed Investment Guidance Notes on Environmental, Social, & Governance (ESG) factors and on statements of investment policies and procedures for member-directed defined contribution (DC) pension plans. Morneau Shepell breaks down what the revised FSCO policies will mean for DC plans.
• Alberta: draft guidelines on successor plans and surplus use – Last month, Alberta issued draft guidelines on legislative requirements pertaining to successor employer/plan situations and to utilization of surplus or excess assets. Morneau Shepell examines outcomes of the proposed legislation.
• 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

Nathan Gibson, Manager, Corporate Communications, Morneau Shepell, 416-390-2641, [email protected]