Standing Technical Advisory Committee for Multi-Employer Pension Plan (MEPP)
Meeting summary
Date: Thursday, October 19, 2023
Time: 1:30 p.m. to 3:00 p.m.
Location: Videoconference
This summary sets out the key points discussed at the October 19, 2023 meeting.
General items
- The committee discussed principle-based regulation and the possibility of discharge on annuitization of MEPP benefits. FSRA spoke to the planned changes for next year’s AIR.
Defined Benefit MEPP leading practice benchmarking
- FSRA updated the committee on its progress to date. There has been good response from the sector.
Target benefit framework
- Ontario Ministry of Finance updated the committee on the most recent consultation for a target benefit framework. The responses have been positive but there is more to consider. The draft regulations will be released in 2024.
Member-Focused work
- FSRA discussed with the committee the upcoming Pension Awareness Day in February 2024 and ways to increase its reach.
Guidance updates
- FSRA provided updates on upcoming pension-specific guidance documents, including guidance related to plan amendments and guidance on roles and responsibilities, as well as an upcoming consultation on rule-making authority with respect to family law. The proposed all-sector guidance on general Administrative Monetary Penalties was discussed.
Improving regulatory harmonization across Canada
- FSRA provided an update to the committee on the progress of work on various CAPSA guidelines.
Examinations
- FSRA provided an update to the committee on the pilot examinations program which uses a risk-based and outcomes-focused approach.
Brewers retail decision
- FSRA updated the committee on the court’s ruling. This was fact-specific and FSRA will continue to reject void amendments.
Next meeting
The next meeting of the committee is scheduled for Spring 2024.
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 |
|
Alain Malaket |
InBenefits |
VC |
|
Alex McKinnon |
United Steelworkers |
VC |
|
Domenic Barbiero |
Eckler Ltd. |
VC |
|
Doug LeFaive |
GoldBlatt Partners |
VC |
|
Joan Tanaka |
Prudent Benefits Administration Services Inc. |
VC |
|
Kevin Rozek |
Segal |
R |
|
Kim MacPherson |
TEIBAS |
VC |
|
Lindsay McLeod |
Brown Mills Klinck Prezioso LLP |
VC |
|
Luc Girard |
Mercer |
R |
|
Michael Mazzuca |
Koskie Minsky |
VC |
|
Mike Neheli |
Manion, Wilkins & Associates Ltd. |
VC |
|
Nisha Singh |
PBI |
VC |
|
Shenagh Rosa |
United Church |
VC |
|
Claire Woodcock, David Bartucci, Elissa Sinha, Jennifer Mullen, Jesse Heath-Rawling, Jessica Ramdin, Karima Shajani, Kevin Cheon, Lester Wong, Leticia Cooper, Marco Ciavatta, Marco Maseelall, Mathew Ou, Michelle Peng, Reesha Hosein, Rhea Tubigan, Stephanie Babb, Siddhartha Kalita, Tamara DeMos, Tim Thomson, Trevor Cartlidge |
FSRA |
VC |
|
Jeff Sweeting |
MOF |
VC |
Disponible en français sur demande.