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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 DateTopicHeadline Expected ImpactRead More
BarbadosMarch 2023TaxationProposed tax allowance for pensionersMediumhttps://aon.io/3nsdpFu
BermudaMay 2022GovernanceAdditional withdrawal from pension fundMediumhttps://aon.io/3PtdAK5
CanadaMarch 2023GovernanceBritish Columbia – Employment Standard/Pay TransparencyMediumhttps://aon.io/3J32pGW
March 2023GovernanceAn Act to amend the Employment Insurance Act and the Canada Labour Code (adoptive and intended parents)Mediumhttps://aon.io/3FZqfSb
March 2023GovernanceRetraite QuebecMediumhttps://aon.io/4054JDo
March 2023GovernanceProposed amendments to the Canada Pension Plan Investment Board ActMediumhttps://aon.io/3ynI216
February 2023GovernanceMinimum wageMediumhttps://aon.io/3Iq2K4O
February 2023GovernanceWage-Fixing/No-Poaching AgreementsMediumhttps://aon.io/3I8t2tA
January 2023GovernanceGuidance on overlay strategyMediumhttps://aon.io/3JhgAIX
January 2023Governance2023 pension and benefit amounts/Old Age Security (OAS) AmountsMediumhttps://aon.io/3ZDEpAF
January 2023GovernanceOffice of the Superintendent of Financial Institutions (OSFI) final Instruction Guide on Defined Benefit PlansMediumhttps://aon.io/3GcW9tt
December 2022GovernanceActuarial ReportsHighhttps://aon.io/3HzRlRj
December 2022GovernanceEmployment StandardsMediumhttps://aon.io/3HgDEXu
December 2022GovernanceExtension of Employment Insurance (EI) sickness benefitsMediumhttps://aon.io/3Heivgk
November 2022GovernanceCanada Revenue Agency (CRA) publishes 2023 Maximum LimitsMediumhttps://aon.io/3AjOAPx
November 2022GovernanceAnnual Risk Outlook-Fiscal Year 2022-2023 UpdatedMediumhttps://aon.io/3zZaMya
October 2022GovernanceManitoba – Health Tax /Federal – Annual Assessment RatesMediumhttps://aon.io/3W2zWpm
October 2022GovernanceDiabetes Framework/ British Columbia – Funding/ Manitoba – Marriage BreakdownMediumhttps://aon.io/3yQUreA
October 2022GovernanceFederal – Defined Contribution (DC) Plans – Asset TransfersMediumhttps://aon.io/3CoVinQ
October 2022GovernancePrince Edward Island increase in minimum wageMediumhttps://aon.io/3SUejoL
September 2022GovernanceCanadian Association of Pension Supervisory Authorities (CAPSA) ConsultationMediumhttps://aon.io/3UCIann
September 2022GovernanceEmployers’ Guide – Payroll Deductions and RemittancesMediumhttps://aon.io/3RZIIBU
September 2022GovernanceGuidance on annuity productsMediumhttps://aon.io/3S3iX3J
September 2022GovernanceManitoba minimum wage/Ontario pension plan consultationMediumhttps://aon.io/3RtgzTk
August 2022GovernanceDraft legislation on medical expenses /Final Instruction Guides for Defined Benefit and Contribution PlansMediumhttps://aon.io/3wpifVy
August 2022GovernanceDraft Regulations Amending Certain Regulations Made Under the Canada Labour Code (Medical Leave with Pay)Mediumhttps://aon.io/3d2ROOP
July 2022GovernanceCanada Labour Standards RegulationsMediumhttps://aon.io/3OjlVyp
July 2022GovernanceLabour Code amendmentsMediumhttps://aon.io/3ICkSIM
June 2022GovernanceCanadian Association of Pension Supervisory Authorities (CAPSA) consultationMediumhttps://aon.io/3HHdlHR
June 2022GovernanceBill C-22 (Canada Disability Benefit Act)/Alberta’s consultation on legislation for private sector pensionsMediumhttps://aon.io/3zEs849
June 2022GovernanceConsultation on proposed regulations under the Pay Equity ActMediumhttps://aon.io/3Ny5cro
May 2022GovernanceIncome Tax Folios update/Consultation draft of Canadian Association of Pension Supervisory Authorities Guideline No. 3 revisionsMediumhttps://aon.io/3lCnkUL
May 2022GovernanceGuides for submitting applications through the Regulatory Reporting SystemMediumhttps://aon.io/38tH620
May 2022GovernanceBudget Implementation Act, 2022/Federal Employment StandardsMediumhttps://aon.io/3smOSkT
May 2022GovernanceEmployment Standards/COVID-19 sick leaveMediumhttps://aon.io/3sxvMbZ
April 2022GovernanceFederal Budget/Employment Equity guidelinesMediumhttps://aon.io/3KT6vQt
April 2022GovernanceMinimum Wage/Pay Equity consultationMediumhttps://aon.io/3x61TCo
JamaicaJune 2022GovernanceSocial Pension Programme Life CertificateMediumhttps://aon.io/3zFIgCI
Puerto RicoFebruary 2023Social security changeLimits applicable for the year 2023 to Qualified Retirement plansMediumhttps://aon.io/3lA9TYH
United States of AmericaMarch 2023GovernanceSetting Every Community Up for Retirement Enhancement Act (SECURE) 2.0: Major Provisions Impacting Defined Contribution Plans (March 2023)Highhttps://aon.io/3TzTbWr
March 2023GovernanceUnited States (US) Legal Consulting Quarterly UpdateHighhttps://aon.io/3SCsPlX
March 2023GovernanceSECURE 2.0: Major Provisions Impacting Defined Benefit PlansMediumhttps://aon.io/3ynleyo
February 2023GovernanceAon Publications on Federal Developments in 2022Mediumhttps://aon.io/3YvZLyV
February 2023GovernanceSetting Every Community Up for Retirement Enhancement (SECURE) Act 2.0: Improving Retirement OutcomesMediumhttps://aon.io/3JN9jR
February 2023GovernanceAon 2023 Compliance CalendarMediumhttps://aon.io/3jlFhtf
January 2023Investment policyDepartment of Labor (DOL) Releases Final Rule on Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder RightsMediumhttps://aon.io/3WHzn4c
December 2022Social security change2023 Limits for Benefit PlansMediumhttps://aon.io/3HeQ02j
November 2022GovernanceRetirement Legal Consulting & Compliance Year-End UpdateMediumhttps://aon.io/3fWJkdE
November 2022Taxation / Social security changeInternal Revenue Service (IRS) Releases 2023 Official Indexed Figures for Retirement Plans and Other Employee Benefit Plans; 401(k) Contribution Limit Increases to $22,500 for 2023Mediumhttps://aon.io/3hvX1AE
October 2022TaxationInternal Revenue Service (IRS) Extends Deadlines for Plan Amendments to Qualified Retirement Plans, Non-Governmental 403(b) Plans, and IRAs Under Coronavirus Aid, Relief, and Economic Security (CARES) and Disaster Relief ActsMediumhttps://aon.io/3yPEW6I
September 2022GovernanceInternal Revenue Service (IRS) Issues Notice on Extension of Deadline for Retirement PlansMediumhttps://aon.io/3AD0nbh
August 2022GovernanceLegal DevelopmentsHighhttps://aon.io/3dT9xst
April 2022GovernanceInternal Revenue Service (IRS)Publishes Proposed Regulations on multiple employer plans (MEPs)Mediumhttps://aon.io/37LSHbF
April 2022State pension reformHouse Passes Securing a Strong Retirement ActMediumhttps://aon.io/3L1nxMq
May 2022GovernanceLegal DevelopmentsMediumhttps://aon.io/3wIhXtG
June 2022GovernanceNotice on Final Revisions for the 2022 Form 5500 Series Annual Return/ReportMediumhttps://aon.io/3xRxBmT

 

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