PPAC 2: LEGISLATION AND PENSION PLANS

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