Private member bills rarely become law. However Ontario Bill 54, An Act respecting retirement savings plans for employees and for self employed persons, 2010 has passed second reading and is now before the Standing Committee on Finance and Economic Affairs. This private bill was proposed by a member of the governing party, so it may […]
When Canadian companies first report under the International Financial Reporting Standards (IFRS) they may notice some unintended consequences to their shareholders’ equity. The culprit is IFRIC 14 of IAS 19—The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction. IAS 19 is the standard that the International Accounting Standards Board (IASB) has […]
When Canada moves to the international accounting standards (IFRS) the rules for multi-employer pension plans (MEPPs) will change. There are about 1.5 million Canadians who belong to multi-employer pension plans, either in the public sector or in the private sector. This compares to 3 million in all other employer-sponsored pension plans. Under international accounting standards […]