The Segal Group summarizes and analyzes important compliance news affecting benefit plans in a publication called Briefing.

On April 5, 2018, Ontario’s Ministry of Finance released a proposed funding framework for target benefit multi-employer plans (TB MEPPs). The proposal addresses:

  • The applicability of solvency funding requirements
  • The amortization period for going-concern deficiencies
  • A provision for adverse deviations
  • A contribution sufficiency test
  • Requirements for benefits improvements
  • A new standard for commuted values
  • Transition rules for contribution requirements

The proposed changes would apply to newly established TB MEPPs and multi-employer pension plans that choose to convert to a TB MEPP.

A public consultation period will end on May 4, 2018.

Our latest Briefing summarizes the guidance.

See previous issues of Briefing.

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