These are among the subjects included in the current issue of
the Morneau Shepell News & Views, a monthly publication
dedicated to providing insights to its clients in Canada
TORONTO, July 24, 2014 /CNW/ - In the current issue of its
newsletter, News & Views, Morneau
Shepell examines the reintroduction of the Ontario
Retirement Pension Plan (ORPP) as a part of the July 14, 2014 budget. The current issue also
analyses the new consultation paper released by the Federal
Government aimed at improving the financial literacy of
seniors.
- UPDATE – ONTARIO BUDGET
REINTRODUCES ORPP AND CLARIFICATIONS TO PENSION RULES –
Following the recent re-election of Ontario's Premier Kathleen Wynne, she reaffirmed her commitment to
the previously announced ORPP. The ORPP would expand pension
coverage initially to more than three million working Ontarians who
do not currently have a workplace pension plan.
- FINANCIAL LITERACY FOR SENIORS – The Federal Government has
released a consultation document that outlines four goals geared at
improving the financial literacy of seniors, and those approaching
that stage in life.
- 2014 SURVEY – ECONOMIC ASSUMPTIONS FOR ACCOUNTING –
Morneau Shepell issued its 14th
annual survey on the economic assumptions used by Canadian public
companies to account for the costs of their defined benefit
plans.
- UPDATE – FOREIGN ACCOUNT TAX COMPLIANCE ACT (FACTA) – On
June 20, 2014, the Canada Revenue
Agency (CRA) published guidance on the required reporting by
financial institutions. Under the legislation, financial
institutions in Canada holding
certain assets will provide information to CRA, which will then
forward the information to the IRS.
- 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
largest company in Canada offering human resources
consulting and outsourcing services. The Company is the leading
provider of employee and family assistance programs, as well as 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
more than 20,000 clients, ranging from small businesses to some of
the largest corporations and associations in North America.
With approximately 3,500 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 Inc.