Significant changes came into effect on January 1, 2012,
regarding the treatment of pension benefits of Ontario members who
go through a breakdown of their spousal relationships. The new
regime is a big improvement over the old regime. There are now
detailed, clear rules as to exactly what has to happen when a plan
member's former spouse wants to receive the value of the
pension he or she is entitled to.
Plan sponsors should consider whether they need to amend their
pension plan texts to comply with the new regime in Ontario. The
significant features of the new rules are:
the non-member former spouse can get a lump sum payout from the
pension plan, even if the employee is continuing to accrue a
the plan administrator is required by law to calculate the
value of the non-member former spouse's entitlement, in
accordance with formulas set out in new regulations under Ontario
pension law; and
specific request forms must be used by the plan member and
former spouse, in order to request that the plan administrator
calculate the value of the former spouse's entitlement.
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Ten days following the election, join us for a discussion with Gary Doer, former Canadian Ambassador to the US, and Gordon Giffin, US Ambassador to Canada under Bill Clinton, to discuss how the new President and Congressional makeup will shape US-Canada relations for years to come.
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We are now beginning to see reported cases involving charges and subsequent fines laid against employers for failing to provide information, instruction and supervision to protect a worker from workplace violence.
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