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International Wealth Solutions

North America Retirement Legislative Updates

Below you will find recent legislative developments from across the North America region, with a focus on retirement.

Country Date Topic Headline Expected Impact Read More
Barbados March 2023 Taxation Proposed tax allowance for pensioners Medium https://aon.io/3nsdpFu
Canada December 2023 Governance 2023 Fall Economic Statement Measures Medium https://aon.io/4ak1tJQ
December 2023 Governance 2023 Fall Economic Statement Measures (1) Medium https://aon.io/46TWlcs
December 2023 Governance 2024 Canada the basic Pension Plan/Second additional CPP contribution (CPP/CPP2) Rates Medium https://aon.io/41fPysr
December 2023 Governance British Columbia Bill 33, Pension Benefits Standards Amendment Act, 2023/Ontario (FSRA) final guidance on Information Technology (“IT”) risk management Medium https://aon.io/3t4kMpO
November 2023 Governance Canada Revenue Agency (CRA) – 2024 Maximum Limits/Nova Scotia – Pay Equity and Pay Transparency Medium https://aon.io/47Pxkjy
November 2023 Governance British Columbia – Pay Transparency/Ontario – Employment Standards Medium https://aon.io/40CUS8U
November 2023 Governance Canadian Association of Pension Supervisory Authorities (CAPSA) published a Canadian Association of Pension Supervisory Authorities (CAPSA) Commentary Guide for the 2020 Agreement Respecting Multi-jurisdictional Pension Plans Medium https://aon.io/49q0cjR
November 2023 Governance Nova Scotia’s Bill 339, Financial Measures (Fall 2023) Act Medium https://aon.io/3FFHrLM
October 2023 Governance British Columbia Bill 33, Pension Benefits Standards Amendment Act, 2023 Medium https://aon.io/46Lk27t
October 2023 Governance Consultation on Alberta Pension Plan Medium https://aon.io/490x6r6
October 2023 Governance Proposed Pension Plan Risk Management Guideline Medium https://aon.io/3LTqpxg
September 2023 Governance Employment Standards Medium https://aon.io/44P0Q75
August 2023 Governance Proposed amendments to Regulation 909 under the Pension Benefits Act Medium https://aon.io/3rTJx78
July 2023 Governance Canadian Association of Pension Supervisory Authorities (CAPSA) Guideline for Pension Plan Risk Management (Ctd. below) Medium https://aon.io/3PWR3rY
July 2023 Governance Canada Labour Code amended/The Dental Care Measures Act amended Medium https://aon.io/44HMS7g
June 2023 Governance Federal – Employment Standards Medium https://aon.io/3JCuUuV
June 2023 Governance Canadian Association of Pension Supervisory Authorities publications Medium https://aon.io/3p7oRaV
June 2023 Governance British Columbia – Pay Transparency/Saskatchewan-The Pension Benefits Amendment Act, 2022 Medium https://aon.io/3oTyie1
June 2023 Governance Order in Council 2023-0360 and 2023-0361 (OICs) published Medium https://aon.io/43F7TQh
May 2023 Governance Bill C-228, Pension Protection Act/Order in Council 2023-0360 Medium https://aon.io/3Wy9OTI
May 2023 Governance Proposal to expand leave/dental care proposals/Pension Protection Act Medium https://aon.io/3O0Wu83
May 2023 Governance Nova Scotia Employment Standards/Sick Notes Medium https://aon.io/42fZgKH
April 2023 Governance Old Age Security (OAS) payment amounts Medium https://aon.io/3NiCQUP
April 2023 Governance Budget 2023 Medium https://aon.io/3UMh7GG
April 2023 Governance Increase in minimum wage/National Strategy for Drugs for Rare Diseases Medium https://aon.io/40gAc4J
April 2023 Governance Federal – Employment Standards – Employees Under 18 Medium https://aon.io/41kbwJR
March 2023 Governance British Columbia – Employment Standard/Pay Transparency Medium https://aon.io/3J32pGW
March 2023 Governance An Act to amend the Employment Insurance Act and the Canada Labour Code (adoptive and intended parents) Medium https://aon.io/3FZqfSb
March 2023 Governance Retraite Quebec Medium https://aon.io/4054JDo
March 2023 Governance Proposed amendments to the Canada Pension Plan Investment Board Act Medium https://aon.io/3ynI216
February 2023 Governance Minimum wage Medium https://aon.io/3Iq2K4O
February 2023 Governance Wage-Fixing/No-Poaching Agreements Medium https://aon.io/3I8t2tA
January 2023 Governance Guidance on overlay strategy Medium https://aon.io/3JhgAIX
January 2023 Governance 2023 pension and benefit amounts/Old Age Security (OAS) Amounts Medium https://aon.io/3ZDEpAF
January 2023 Governance Office of the Superintendent of Financial Institutions (OSFI) final Instruction Guide on Defined Benefit Plans Medium https://aon.io/3GcW9tt
Puerto Rico February 2023 Social security change Limits applicable for the year 2023 to Qualified Retirement plans Medium https://aon.io/3lA9TYH
United States of America December 2023 Social security change 2024 Limits for Benefit Plans Medium https://aon.io/41cAADt
December 2023 Governance Aon Quarterly Update, Retirement Legal Consulting & Compliance (Fourth Quarter 2023) Medium https://aon.io/3NkdZ2f
November 2023 Pension plan benefits Internal Revenue Service (IRS) 2024 Official Indexed Figures for Retirement Plans and Other Employee Benefit Plans High https://aon.io/3sS8gtu
November 2023 Governance Internal Revenue Service (IRS) Releases Final Regulations on Mortality Tables for Determining Present Value Under Defined Benefit Pension Plans Medium https://aon.io/3MvFndb
November 2023 Governance Internal Revenue Service (IRS) Releases Mortality Table for Use in Determining Minimum Present Value for 2024 Medium https://aon.io/3SvsL9D
November 2023 Social security change Social Security Administration (SSA) Releases 2024 Indexed Figures; Announces 3.2% Benefit Increase Medium https://aon.io/49l3uVO
October 2023 Pension plan benefits Year-End Update Medium https://aon.io/40bx3Vp
September 2023 Social security change Internal Revenue Service (IRS) Issues Notice Providing Two-Year Administrative Delay for SECURE 2.0 Roth Catch-Up Provisions Medium https://aon.io/3t2UiVm
September 2023 Governance Employee Benefits Security Administration (EBSA) Issues request for information (RFI) on Reporting and Disclosure Requirements Under SECURE 2.0 Medium https://aon.io/3PAZfgP
August 2023 Governance Aon’s Retirement Legal Consulting & Compliance Quarterly Update Medium https://aon.io/3Eanc88
August 2023 Governance Internal Revenue Service (IRS) Releases Notice on Transition Relief and Guidance Relating to Certain Required Minimum Distributions (RMDs) Medium https://bit.ly/3QiNZqh
July 2023 Governance Spring 2023 Regulatory Agenda Released High https://aon.io/43hWO6p
July 2023 State pension reform Pension Benefit Guaranty Corporation (PBGC) Publishes Final Rule on Benefit Payments and Allocation of Assets Medium https://aon.io/3DuRAK9
June 2023 Governance Internal Revenue Service (IRS) Releases Guidance on Section 305 of SECURE 2.0 With Respect to Expansion of Employee Plans Compliance Resolution System (EPCRS) Medium https://aon.io/3Pbl6f4
May 2023 Governance United States Legal Consulting Quarterly Update High https://aon.io/3IFelhC
March 2023 Governance Setting Every Community Up for Retirement Enhancement Act (SECURE) 2.0: Major Provisions Impacting Defined Contribution Plans (March 2023) High https://aon.io/3TzTbWr
March 2023 Governance United States (US) Legal Consulting Quarterly Update High https://aon.io/3SCsPlX
March 2023 Governance SECURE 2.0: Major Provisions Impacting Defined Benefit Plans Medium https://aon.io/3ynleyo
February 2023 Governance Aon Publications on Federal Developments in 2022 Medium https://aon.io/3YvZLyV
February 2023 Governance Setting Every Community Up for Retirement Enhancement (SECURE) Act 2.0: Improving Retirement Outcomes Medium https://aon.io/3JN9jR
February 2023 Governance Aon 2023 Compliance Calendar Medium https://aon.io/3jlFhtf
January 2023 Investment policy Department of Labor (DOL) Releases Final Rule on Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights Medium https://aon.io/3WHzn4c

 

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