The Ontario Municipal Employees’ Retirement System returned 4.6 per cent in 2023, or $5.6 billion, in investment income in 2023, according to its latest year-end report. It found as of Dec. 31, 2023, the plan’s net assets stood at $128.6 billion, up from $124.2 billion in 2022. It also reported a funded status of 97 per […]
Hub International Ltd. is acquiring Oakville, Ont.-based Mitchell Sandham Inc., an independently owned insurance brokerage company that provides commercial and personal insurance and employee benefits services. The merger will provide Mitchell Sandham’s clients with enhanced resources and expertise, including a broader geographical reach across Canada and the U.S., said Mitchell Sandham’s chief executive officer, Aaron […]
Women represent roughly a quarter of C-suite leaders in North America, while women of colour represent just one in 16, according to a report by McKinsey & Company. The report, which was based on research from more than 270 companies in the U.S. and Canada, found women of colour faced the steepest drop-off in representation […]
The Colleges of Applied Arts and Technology pension plan is promoting Sabeen Purewall (pictured left) to vice-president of solutions and partnerships and Graham Stone (pictured right) to acting vice-president of pension solutions, effective Feb. 22, 2024. In their new roles, Purewall will oversee strategic partnerships to help organizations with talent attraction and retention tactics, while […]
The Caisse de dépôt et placement du Québec is acquiring an equity stake in North American port terminal and logistics operator QSL International Ltd. The investment organization first invested in QSL in 2021 through loan deals. The deal is expected to close in mid-2024 and details of the transaction weren’t disclosed. “We are proud to take […]
An article on how the Ontario Municipal Employees Retirement System has contributed to the province’s gross domestic product was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the week: 1. OMERS pension benefits accounted for 9.3% of Ontario retirement income in 2023: report […]
The average funding ratio for U.S. public pension plans declined to 75.4 per cent in 2023, compared to 77.8 per cent in the previous year, according to a new survey by the National Conference on Public Employee Retirement Systems. The report, which was based on responses from nearly 160 public pension funds with roughly US$2.3 […]
The vast majority (89 per cent) of U.S. employees say they’d be more likely to continue working for an employer that offered a retirement plan, according to a new survey by Vestwell Holdings Inc. The survey, which polled more than 1,200 workers, found a similar percentage (89 per cent) expressed some level of interest in […]
The Canada Pension Plan Investment Board earned 3.4 per cent during the third quarter of fiscal 2024, according to its latest quarterly report. By Dec. 31, 2023, the investment organization’s net assets were $590.8 billion, compared to $576 billion at the end of the previous quarter. The $14.6 billion increase in net assets consisted of […]
The average rate of contribution by U.S. Black and Hispanic workers to employer-sponsored retirement plans is roughly 40 per cent lower than that of white workers, according to a new working paper by the Massachusetts Institute of Technology’s Sloan School of Management. The paper examined responses from more than 12 million respondents aged 24 to […]