Standing Technical Advisory Committee for Multi-Employer Pension Plans (MEPP)
Meeting summary
Date: October 17, 2024
Time: 1:30 pm to 3:00 pm
Location: Videoconference
This Summary sets out the key points discussed at the October 17, 2024 meeting.
Target Benefit Framework
The Ministry of Finance staff updated the committee on the Target Benefit Framework. The framework will come into effect on January 1, 2024. Ministry staff thanked committee members who were involved in the consultation and engagement.
Impact of PPA on MEPPs
The committee members discussed the impact and implications of the federal Pension Protection Act (PPA) changes that come into effect on April 27, 2027. A working group of the committee will be structured to explore the effect on MEPP members by insolvent employers.
Guidance
FSRA released its final Guidance on Principles-Based Regulation on September 5, 2024. This replaces the previous Pension Sector Guiding Principles Guidance.
Committee survey update
The committee was presented with the results of the first survey of all Pensions Standing Technical Advisory Committee Members. Members discussed findings specific to the MEPP Committee as well as cross-committee results including engagement; collaboration, meeting frequency, among others. Feedback was sought on ways to move forward. This will now become an annual survey. The Terms of Reference for all the Pensions Standing Technical Advisory Committees will be evaluated in the new year.
AMPS & Filing issues
Pensions staff presented FSRAs approach to compliance with filing requirements and the levying of SAMPs for non-compliant plans.
Communication & engagement update
Members were given an update on the upcoming Pensions Awareness Day set for February 5, 2025, and FSRA Exchange to take place on March 3, 2025. Feedback was sought for participation in the Pensions Awareness Day campaign as well as a canvass of topics for the 2025 FSRA Exchange Pensions Plenary session.
Next meeting
The next meeting of the Committee is scheduled for February 2025.
Attendance record
|
Invited/Attended |
Company name |
Attendance status |
|---|---|---|
|
Paul Martiniello |
FSRA –Director, Relationship Management and Committee Co-Chair |
A |
|
Susan Bird |
Multi-Employer Benefit Plan Council of Canada and Committee Co-Chair |
VC |
|
Alex McKinnon |
VC |
|
|
Shenagh Rose |
United Church |
VC |
|
Doug Lefaivre |
Goldblatt Partners |
VC |
|
Domenic Barbieri |
Eckler |
VC |
|
Luc Girard |
Mercer |
VC |
|
Mike Mazzuca |
KM Law |
VC |
|
Joan Tanaka |
PBAS |
VC |
|
Kim McPherson |
Teibas |
R |
|
Alain Malaket |
In Benefits |
VC |
|
Neesha Singh |
PBI Actuarial |
R |
|
Kevin Rozak |
Segalco |
VC |
|
Mike Neheli |
Manion Wilkins |
R |
|
Lindsay McLeod |
BMKP Law |
VC |
|
Paul Martiniello; Rhea Tubigan; Tim Thomson; David Bartucci; Karima Shajani; Mathew Ou; Lester Wong, Jesse-Heath Rawlings; Renee Fong; Victoria Lesau; Fern Karsh; Sylvie Charest; Jennifer Mullen; Chantal Laurin; Jessica Ramdin; Mathew Ou; Stephanie Babb; Andrea Wooland; Kevin Cheon; Yalady Linares; Vanessa Taylor; Marco Ciavatta; Michelle Peng |
FSRA |
VC |
|
Jeff Sweeting; Alex Killoch; Anjali Raghunath |
MOF |
VC |
Disponible en français sur demande.