Finance’s toughest problem just got a whole lot trickier, thanks to the quandary of inflation. Legendary economist William F. Sharpe sealed his place in history when he collected the 1990 Nobel Memorial Prize in Economic Sciences for his work on investment decision-making, but in defined contribution pension circles, the emeritus professor at Stanford University is […]
When Tye McAllister was in middle school, he received a life-changing gift from his father — The Wealthy Barber, a practical guide to financial planning by Canadian investor David Chilton. “Investing became a passion,” says McAllister, senior analyst of pension investments and treasury at ATCO Group of Companies. “I was always trying to pull together […]
An article on how British Columbia’s amended definition of provision for adverse deviation will impact the province’s target-benefit pension plans was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. B.C.’s amended PfAD to provide more flexibility to target-benefit pension plans: experts 2. BNP Paribas expanding […]
A new retirement plan design could allow more public employees in the U.S. to accrue retirement benefits regardless of their length of service, according to a report by think tank the Reason Foundation. The plan, which blends elements of defined contribution and defined benefit pension plans, focuses on providing employees with the target retirement income […]
The union representing 450 employees at Domtar Corp. in Dryden, Ont. has ratified three collective agreements that include benefits and pension gains. The agreements include several group benefits enhancements, including $100 for vision, a $200 increase for dental and orthodontics, a $10,000 increase in life insurance, $1,000 for eye surgery and improvements in short- and […]
A new U.S. law that aims to strengthen retirement support for workers holds valuable lessons for Canada’s retirement system, says one pension consultant. The Secure 2.0 Act of 2022, which was signed into law in December, contains several provisions to enhance the U.S. retirement system and boost retirement savings, including a requirement for plan sponsors to […]
U.S. defined contribution pension plan sponsors are increasingly offering custom target-date funds, according to a new report by the Defined Contribution Institutional Investment Association. The report, which analyzed 100 DC plans in both the public and private sectors, found the plan sponsors used more than 1,000 investment strategies involving custom target-date funds in 2021, up […]
As the University Pension Plan increases its focus on climate change, its responsible investment policy considers environmental, social and governance factors as essential to sound long-term investing. “We’ve seen a lot of evidence from a variety of service providers — from investment banks to investment managers — that have demonstrated [the climate] is getting warmer […]
The union representing about 1,100 Jazz Aviation employees has ratified a five-year collective agreement that includes pension enhancements and bereavement leave. The agreement includes an additional employer contribution of one per cent to the defined contribution plan, effective Jan. 1, 2023, for employees with 15 years or more of service. It also includes five days of […]
The union representing roughly 300 employees at American Airlines in Toronto and Montreal has ratified a new two-year agreement that includes pension and benefits improvements. The agreement includes a 0.5 per cent increase to the matching formula for the defined contribution pension plan — from 5.5 per cent to six per cent — plus an […]