Ease funding challenges with letters of credit
On Jan. 1, 2013, amendments to Ontario’s Pension Benefits Act (PBA) took effect, allowing employers to use a letter of credit (LOC) to cover up to 15% of solvency liabilities in a pension plan. For employers in the province, the welcome change may help alleviate some of the funding challenges faced by DB plan sponsors.
- April 8, 2013 September 13, 2019
- 07:00