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PPAC 2: LEGISLATION AND PENSION PLANS

This course focuses on provincial and federal legislation, required reporting and the resultant effects on plan design. It also deals with plan administration and related issues.

Pension Benefits/Standards Legislation

  • Evolution of provincial legislation
  • Impacts of legislation
  • Legislation impacts plan administration
    • plan registrations
      • where to register a pension plan
      • plan documentation – legal & filings
    • plan amendments
    • plan windups
  • professional help
    • actuarial & legal
  • Practical exercise – case study scenarios

Income Tax Legislation

  • Review of ITA & RPPs
  • ITA filing requirements for RPPs
  • The Pension Adjustment system
    • PAs, PSPAs & PARs
  • The ITA and DB plans
  • The ITA and DC plans
  • Practical exercises – calculations throughout

Legislation & Plan Administration

  • The pension plan Administrator
  • Recordkeeping and administrative functions
  • Legislation affecting pension administration
  • Administrative challenges – minimum standards
    • joining & leaving the plan
    • death benefits & spousal rights
    • disclosure
  • Multi-Jurisdictional challenges
  • Practical exercises – plan membership reconciliation & AIR

Pension Plan Governance

  • What is pension governance?
  • Why governance is needed
  • The rules and obligations of the game
  • Litigation – the outcome of bad governance
  • Pension industry guidelines
  • Pension administrator liability
  • Elements of a governance system
  • Case study – Identifying governance issues

 

“This course enabled us to get up-to-date on pension matters and to go deep into the nature of pensions and related matters. This program will absolutely enhance the work I do on a daily basis.”

Michael Ketchum | New Brunswick Teachers’ Association