pension plan design – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Mon, 15 Jul 2024 20:34:28 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Dollar cap matching could more equitably distribute 401(k) contributions, reduce plan sponsor costs: report https://www.benefitscanada.com/pensions/cap/dollar-cap-matching-could-more-equitably-distribute-401k-contributions-reduce-plan-sponsor-costs-report/ Tue, 11 Jun 2024 13:00:00 +0000 https://www.benefitscanada.com/?p=156675 Dollar cap match formulas could distribute employer contributions to 401(k)s more equitably than other common match formulas, according to a new report by Vanguard Inc. The report analyzed more than 1,300 large employer-sponsored plans that are record-kept by Vanguard between 2013 and 2022. It found among two-thirds of plans, employer contributions exacerbate pay inequity and […]

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]]> Cross-border pension plans increasing due to political, economic tension: survey https://www.benefitscanada.com/pensions/cap/cross-border-pension-plans-increasing-due-to-political-economic-tension-survey/ Tue, 28 May 2024 19:00:40 +0000 https://www.benefitscanada.com/?p=156127 The number of international pension plans and international savings plans that are offered in countries operating in challenging political or economic circumstances has risen to 126, up from 54 in 2019, according to a new survey by WTW. The survey, which polled 960 global plan sponsors that offer IPPs and ISPs, found this increase is […]

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]]> 74% of U.S. DC pension plan sponsors to conduct plan fee review in 2024: survey https://www.benefitscanada.com/pensions/cap/74-of-u-s-dc-pension-plan-sponsors-to-conduct-plan-fee-review-in-2024-survey/ Wed, 08 May 2024 19:00:28 +0000 https://www.benefitscanada.com/?p=155327 Three-quarters (74 per cent) of U.S. defined contribution pension plan sponsors say they’ll review plan fees throughout 2024, according to a new survey by investment consulting firm Callan. The survey, which polled more than 130 DC plan sponsors, found that half of respondents said they’re likely to move to lower-cost investment vehicles in 2024, up […]

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]]> N.S. legislation allowing private employers to transfer pensions into PSSP https://www.benefitscanada.com/pensions/governance-law/n-s-legislation-allowing-private-employers-to-transfer-pensions-into-pssp/ Thu, 23 Nov 2023 14:00:16 +0000 https://www.benefitscanada.com/?p=147565 Nova Scotia-based private employers can now transfer their pension plans into the Public Service Superannuation Plan. The Private Sector Pension Plan Transfer Act, which received royal assent on Nov. 9, provides all employers based in the province with the option of offering or continuing to offer a defined benefit pension plan with a prescribed funding […]

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]]> Majority of U.S. 401(k) plan sponsors making changes by end of year: survey https://www.benefitscanada.com/pensions/cap/majority-of-u-s-401k-plan-sponsors-making-changes-by-end-of-year-survey/ Wed, 30 Aug 2023 19:00:48 +0000 https://www.benefitscanada.com/?p=142723 The majority (95 per cent) of U.S. 401(k) plan sponsors say they intend to change their plan design by the end of the year, according to a new survey by Fidelity Institutional. The survey, which polled more than 1,300 employers, found a quarter said they plan to increase their matching contribution (26 per cent) and […]

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]]> 2023 DC Plan Summit: DC industry’s objectives shifting from retirement to financial wellness https://www.benefitscanada.com/events/conference-coverage/2023-dc-plan-summit-dc-industrys-objectives-shifting-from-retirement-to-financial-wellness/ Fri, 12 May 2023 12:50:43 +0000 https://www.benefitscanada.com/?p=137536 The traditional aim for the defined contribution pension industry has been helping plan members save for retirement, but as the nature of employment, plan design, investment choice and member engagement evolves, that objective is changing to financial wellness. “The world has changed significantly since the defined contribution business emerged,” said Marc-Antoine Morin, assistant vice-president of […]

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]]> 76% of U.S. DC pension plan sponsors offering auto-enrolment: survey https://www.benefitscanada.com/pensions/cap/76-of-u-s-dc-pension-plan-sponsors-offering-auto-enrolment-survey/ Fri, 31 Mar 2023 13:00:38 +0000 https://www.benefitscanada.com/?p=135871 Three-quarters (76 per cent) of U.S. defined contribution pension plan sponsors say their plan offers automatic enrolment, according to a new survey by investment consulting firm Callan. The survey, which polled roughly 100 DC plan sponsors, found the vast majority used auto-enrolment for new hires, while far fewer offered this feature for current employees. Half […]

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]]> OECD report urging policy-makers to consider role of employers in supporting pension growth https://www.benefitscanada.com/pensions/governance-law/oecd-report-urging-policy-makers-to-consider-role-of-employer-in-supporting-pension-growth/ Fri, 02 Dec 2022 14:00:56 +0000 https://www.benefitscanada.com/?p=130604 Since employers play a key role in supporting pension growth, policy-makers should consider their involvement when implementing pension reforms, according to a new report by the Organisation for Economic Co-operation and Development. The report found OECD member countries can optimize employer involvement by reducing financial and administrative barriers that prevent employers from establishing pension plans, […]

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]]> 2022 Top 50 DC Plans Report: How are DC pension plans evolving? https://www.benefitscanada.com/archives_/benefits-canada-archive/2022-top-50-dc-plans-report-a-look-at-the-past-present-and-future-of-dc-pension-plans/ Fri, 14 Oct 2022 12:55:41 +0000 https://www.benefitscanada.com/?p=128067 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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]]> 2022 DC Plan Summit: Tracing the roots of dynamic pension pools across history, geographies https://www.benefitscanada.com/pensions/governance-law/2022-dc-plan-summit-tracing-the-roots-of-dynamic-pension-pools-across-history-geographies/ Fri, 12 Aug 2022 12:49:02 +0000 https://www.benefitscanada.com/?p=125188 Dynamic pension pools can have a significant and positive impact on retirement outcomes if they’re supported by the appropriate legislative changes, said Barbara Sanders, associate professor in statistics and actuarial science at Simon Fraser University, during a session at Benefits Canada‘s 2022 DC Plan Summit. The University of British Columbia has a dynamic pension pool […]

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