Blakes Continuity Podcast: COVID-19: The Regulatory Impact on Pensions
Viewpoints: Portfolio Company Pension Liabilities
JONES DAY TALKS®: ESG: The Opportunities and the Risks
Welcome to our latest update, in which we cover: Inheritance tax and pensions: revised policy Pensions Commission and State Pension age review Pensioner poverty: results of inquiry Pensions dashboards: clearing “data debts”...more
Since we last discussed environmental, social, and corporate governance (“ESG”) developments in the context of ERISA retirement plans, ESG litigation has taken a rather unexpected turn. Although the plan lineup in Spence v....more
Le 16 décembre 2024, le ministère fédéral des Finances a publié l’Énoncé économique de l’automne de 2024 (l’« ÉÉA de 2024 »), lequel fait suite aux mesures annoncées précédemment par le gouvernement fédéral dans l’Énoncé...more
On December 16, 2024, the Department of Finance published the 2024 Fall Economic Statement (FES). The FES builds on the federal government’s earlier announcements in the 2023 Fall Economic Statement, as discussed in our...more
A bankruptcy court in Delaware recently upheld rules issued by the Pension Benefit Guaranty Corporation (PBGC) that severely impact how liability is calculated for employers withdrawing from multiemployer pension plans...more
“Withdrawal liability” blindsides many employers when they stop contributing to collectively bargained pension plans. Multiemployer plans have used different calculations for years that inflate the withdrawal liability they...more
On March 26, 2024, the Ontario government published their 2024 Budget, in which it was announced that draft regulations to Ontario’s Pension Benefits Act (PBA) would be introduced for review in the summer of 2024, with the...more
On March 29, 2024, the U.S. District Court for the Northern District of Illinois issued its decision in Central States, Southeast and Southwest Areas Pension Fund v. Event Media, Inc. In a matter of first impression for...more
Over the last several years, numerous large pension plan sponsors have transferred billions of dollars in financial risk related to their pension plan benefit obligations to insurance companies through the purchase of group...more
In a classic man-bites-dog turnaround, a federal appeals court ordered a Teamsters pension fund to return approximately $2 million in withdrawal liability payments to an employer that had stopped contributing in 2005. The...more
Canadian pension law went through numerous changes in 2023. Below is an overview of certain significant developments from the previous year as we look ahead to what may be coming next....more
Private equity and other illiquid private market investment funds have become increasingly relevant to pension fund investors in recent years as they have sought to diversify a minority proportion of their portfolios away...more
On November 30, 2023, the federal government introduced Bill C-59, Fall Economic Statement Implementation Act, 2023 (Bill C-59), which included proposed amendments to the Income Tax Act (Canada) (ITA) to implement changes...more
In a recent case involving the Steelworkers Pension Trust (the “SPT”) versus Republic Steel, a federal magistrate judge in the Western District of Pennsylvania ordered Republic Steel to pay the SPT nearly $1.4 million for...more
The Knesset Finance Committee recently approved an amendment to regulations designed to restrict new enrollees in managers’ insurance plans. This amendment will come into effect on September 1, 2023, and is likely to affect,...more
On June 22, 2023, Bill C-47 received royal assent, implementing a variety of amendments to the Income Tax Act (Canada) (ITA) and its regulations (ITA Regulations) tabled as part of the 2023 Federal Budget. As we previously...more
This is an update of our original blog dated April 24, 2023. Bill C-228, An Act to amend the Bankruptcy and Insolvency Act, the Companies’ Creditors Arrangement Act and the Pension Benefits Standards Act, 1985 received Royal...more
Key Points - Recently proposed regulations would significantly curtail the ability for private fund sponsors and non-U.S. investors to use a so-called D-REIT to facilitate a tax-efficient exit from U.S. real property...more
Christmas came early this year for the beleaguered Teamsters Central States Pension Fund and its over 350,000 participants – but employers may soon realize they just received a lump of coal in their stockings. On December 8,...more
Early this morning the White House announced that $36 billion was being allocated from the American Rescue Plan (i.e., the 2021 Coronavirus relief package) to shore up the Teamster’s Central States Pension Plan....more
The Canadian Association of Pension Supervisory Authorities' (CAPSA) draft guideline on ESG sets out three principles as guidance for pension plan administrators - - consider ESG characteristics that may have material...more
On June 9, 2022, the Canadian Association of Pension Supervisory Authorities (CAPSA) published consultation drafts of pension plan guidelines covering environmental, social and governance (ESG) considerations, as well as...more
On April 28, 2022, the federal government introduced Budget Implementation Act, 2022, No. 1 (Bill C-19) for first reading, to implement certain aspects of the federal government's 2022 Budget. Included in Bill C-19 is a...more
Beiträge in Direktversicherungen können im Regelfall nicht gepfändet werden. Aber auch in anderen Durchführungswegen unterliegen Einzahlungen im Wege der Entgeltumwandlung nicht der Pfändung....more
Over the years, tax shelter ideas have occasionally arisen in connection with the interpretation of some of the pension provisions found in US tax treaties, encouraged, perhaps, by the lack of guidance on many treaty...more