Tag: Reg. 36
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New Brunswick Draft Regulation re Solvency Funding
New Brunswick published draft regulations, which will amend the General Regulation to provide plan sponsors with greater flexibility in funding solvency deficits. Comments are due by July 13, 2020 . . .
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Saskatchewan Bill 151 re Priority of Pension Plan Deemed Trust
Saskatchewan Bill 151, The Personal Property Security Amendment Act, 2018, which is currently at first reading, includes amendments that would enhance the priority of amounts held in a pension plan's deemed trust . . .
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New Brunswick Regulation re Multi-jurisdictional Plan Funding Relief
New Brunswick has filed Regulation 2017-35 amending the General Regulation under its Pension Benefits Act (NBPBA).
The amendments provide temporary solvency funding relief for multi-jurisdictional defined benefit pension plans. In particular, the amendments extend the period for special payments from 5 to 10 years, and permit consolidation of previous solvency funding deficiencies. The solvency funding relief applies to a valuation report with a review date between December 31, 2016 and December 31, 2018.
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