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Technical Advisory Committee for Missing Members in the Pension Sector
Meeting Summary
Date: Friday, February 14, 2020
Time: 9:30 a.m. to 12:30 p.m.
Location: Financial Services Regulatory Authority of Ontario
Searching Guidance / Biennial Statement Waiver Guidance
Feedback received from the committee at the January 17, 2020 meeting was incorporated into the draft Guidance documents. These were discussed at the February meeting. Each committee member was given an opportunity to provide additional comments. FSRA will incorporate feedback received from the committee and will recirculate the revised draft Guidance documents to the committee before publishing for public consultation in April 2020.
Missing Member Registry
The committee reviewed existing, but not yet in force, legislation for a missing member registry. The committee recommended FSRA collect data on the size of the issue in terms of missing members and the value of their benefits and develop a trend analysis before determining appropriate next steps for the registry. However, the committee did provide advice on both how the registry could operate, and alternative models; should the government wish to move forward.
Data Access
The committee recommended that FSRA explore partnerships with ministries, departments and agencies of the governments of Ontario and Canada to investigate information sharing arrangements that would improve administrators’ ability to locate members. FSRA has initiated this exploration and will continue to do so.
Measuring Success
FSRA will begin collecting data on missing members. This is being done in order to build an evidence-based starting point and trends analysis to determine the success of new guidance on the missing member issue and determine appropriate next steps for the registry.
Summary
A draft summary of the discussions and recommendations from the working groups and the committee was reviewed. Comments on the summary will be incorporated into the draft and recirculated before it is finalized.
The meeting concluded with thanks from the Chair to the committee members for their engagement and contributions to the missing member committee.
Attendance Record
| Invited/Attended |
Company Name |
Attendance Status |
|---|---|---|
|
Caroline Blouin |
FSRA-EVP and TAC Chair |
A |
|
Anna Zalewski |
Ontario Teachers Pension Plan |
A |
|
Doug LeFaive |
Goldblatt Partners, LLP |
A |
|
Glorie Alfred |
Osler |
A |
|
James Hoffner |
SunLife |
A |
|
James Pierlot |
Blue Pier |
A |
|
John Hnatiw |
Morneau Shepell |
A |
|
Jennifer Agnew |
BMKP Law LLP |
A |
|
Joseph Tang |
Mercer |
A |
|
Karen Kahansky |
Willis Towers Watson |
A |
|
Kimberly Houston |
McAteer Group |
A |
|
Melodie Mason |
CSA Group |
A |
|
Nadine Orr |
RBC Insurance |
A |
|
Patrick Rettig |
Unifor |
A |
|
Paul Migicovsky |
Ontario Municipal Employees Retirement System (OMERS) |
A |
|
Scott Linnell |
Fiat Chrysler Canada |
A |
|
Tracey Ball |
Healthcare of Ontario Pension Plan (HOOPP) |
A |
|
Maureen Johnson |
MoF |
A |
|
Andrew Bucci |
MoF |
A |
|
Monica Chu |
MoF |
A |
|
Mark Eagles |
FSRA |
A |
|
Lynn Barron |
FSRA |
A |
|
Michael Palozzi |
FSRA |
A |
|
Anne Slivinskas |
FSRA |
A |
|
Jessica Rose |
FSRA |
R |
|
David Bartucci |
FSRA |
A |
|
Ali Alsaden |
FSRA |
A |