Involuntary Terminations Can Be Costly for Employers in Ontario

Involuntary Terminations Can Be Costly for Employers in Ontario

If you’re an employer with a provincially-registered defined benefit pension plan with employees in Ontario, it’s important to know the rules surrounding involuntary terminations. Even if you outsource your pension administration to a third-party provider, it’s your duty to determine whether a termination is voluntary or involuntary. As you’ll soon find out, the financial implications

Managing or Reducing Costs of an Employee Benefit Plan

Managing or Reducing Costs of an Employee Benefit Plan

Here in Alberta, there is a huge change in trends underway when it comes to Employee Benefit Plans. For the past 10 years or more, we have seen unprecedented growth in Alberta because of the oil boom.  In the Employee Benefits industry, the priorities for employers when it comes to their plans have been: Offering

Aging Parents and Employee Wellness

Aging Parents and Employee Wellness

With a growing percentage of the work force finding themselves part of the “sandwich generation” (caring for both children and elderly parents) it’s not surprising that the 2012 National Study on Work, Life and Caregiving recommends that employers consider creating formal elder care policies and/or allowing employees to take advantage of practices such as flexible

Accessing Health Benefits in Retirement

Accessing Health Benefits in Retirement

According to the 2014 edition of the Sanofi Healthcare Survey almost half of plan members expect to be able to access their current health benefit plan after they retire from their employer. However, a separate survey of plan sponsors reveals that just 23% actually offer post-retirement benefits. Of those 23%, 12% allow plan members to continue

2014 Year end stock market review

2014 Year end stock market review

Stock market reviews and predictions are abundant this time of year.  For me, 2014 flew by and I thought stock markets were much the same from previous years – mostly good news.  Here’s a chart showing different asset class returns for the past 6 calendar years. Cash DEX Bond Universe TSX Composite S&P500 MSCI World 2014 0.91%

Historical Stock Market Data

Historical Stock Market Data

I like numbers so I don’t shy away fro the fact that I like statistical analysis and data.  As a result, I’ve collected some data on the stock markets that may be interesting to some people. Before I show you the stock market historical data, I want to put forth my disclaimer: This data has

New Financial Planning Data for 2015

New Financial Planning Data for 2015

A new year means new limits and data.  Here’s a list of new financial planning data for 2015 (In case you want to compare this to past years, I’ve included old data as well). Pension and RRSP contribution limits The new limit for RRSPs for 2015 is 18% of the previous year’s earned income or

Protecting Your Drug Plan from Rising Costs

Protecting Your Drug Plan from Rising Costs

A major concern for employers looking to control their costs is health and dental benefits. One of the fastest rising health care costs for employers is drug plans. With the advances in medicine, there seems to be new drugs every other month. Employers have to make the tough decision of balancing cost control with the