auto-escalation – Benefits Canada.com

41% of U.S. employees cashing out 401(k) savings when leaving job: report

Sadie Janes — Thu, 27 Jul 2023 19:00:32 +0000

Two-fifths (41 per cent) of U.S. employees are cashing out their 401(k) plan savings when they leave a job, with 85 per cent draining their entire accounts, according to a new report by the University of British Columbia, Texas State University and the University of Colorado Boulder. The report, which analyzed data from more than […]

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2023 Top 100 Pension Funds Report: How to improve retirement outcomes across diverse plan member groups

Jennifer Paterson — Fri, 23 Jun 2023 12:56:55 +0000

At the beginning of April, the OPSEU Pension Trust made a change to a definition in its plan text that will have meaningful implications for plan members with disabled children who need to continue to rely on their parents into adulthood. The organization expanded the definition of a child eligible for survivor benefits to include […]

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CIA supporting going-concern plus regime, auto features in Alberta’s private sector pensions

bwolfe — Mon, 07 Nov 2022 14:00:53 +0000

The Canadian Institute of Actuaries is supporting several of the Alberta government’s proposed legislative and policy updates for private sector pension laws, including the move towards a going-concern plus regime for defined benefit plans and the introduction of automatic features in defined contribution plans. In its response to the consultation draft, the CIA cited the benefits […]

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2022 Top 50 DC Plans Report: How are DC pension plans evolving?

bwolfe — Fri, 14 Oct 2022 12:55:41 +0000

While defined contribution pension plans currently outnumber defined benefit pension plans, this wasn’t always the case, recalls Bita Jenab, a principal at RetirementWorks Services Inc. DC plans began to gain popularity in the mid-1980s, due to a combination of legislative and economic changes, she adds. “This period marks the introduction of pension accounting rules under […]

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PIAC providing feedback on potential updates to Alberta’s private sector pension legislation

bwolfe — Thu, 22 Sep 2022 13:00:05 +0000

The Pension Investment Association of Canada is providing feedback on the Alberta government’s consultation draft of potential legislative and policy updates for private sector pension laws. While the PIAC doesn’t have specific views on how to calculate the provision for adverse deviation, it’s encouraged Alberta is considering a harmonized approach, wrote Sean Hewitt, chair of […]

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2022 CAP Member Survey: Perceptions of CAPs against a changing economic landscape

Jennifer Paterson — Fri, 16 Sep 2022 12:56:32 +0000

After a tough couple of years, Canadians continue to face several challenges against an increasingly turbulent economic landscape. While most coronavirus restrictions were lifted in late spring 2022, the seventh wave of the pandemic arrived in July alongside rising inflation, which is compounding prices from the gas pump to the grocery store. Though the 2022 […]

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Two years later: Canada’s DB, DC pension plans weathering the pandemic

bwolfe — Mon, 07 Mar 2022 14:00:50 +0000

Canada’s pension plans are weathering the coronavirus pandemic, with many plans currently in their best financial shape in several years. The early days of the pandemic painted a bleak picture for institutional investors. Between Feb. 19 and March 23, 2020, the S&P/TSX composite index dropped by 37 per cent — the latter date marking the index’s lowest point […]

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Automatic features in DC pension plans may benefit members: FSRA

mdunne — Fri, 12 Nov 2021 14:00:52 +0000

The Financial Services Regulatory Authority of Ontario is encouraging defined contribution pension plan sponsors and administrators to evaluate the use of automatic features within the context of their plans. New guidance posted to the FSRA’s website affirms that the Pension Benefits Act and its regulations don’t prohibit the use of automatic features in defined contribution pension […]

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Learn more about the DC Investment Innovation Award finalists

mschmit — Mon, 16 Nov 2020 05:08:27 +0000

Pension investments are a key component of ensuring secure benefits for plan members upon their retirement. To celebrate the plan sponsors and pension investors who work hard to ensure strong investment outcomes, the first-ever Pension Leadership Awards will recognize winners across several categories. The Defined Contribution Investment Innovation Award will go to a DC pension […]

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