MORNEAU SHEPELL - CORPORATE

Hub International acquires the benefits consulting practice of Morneau Shepell Inc.

Retrieved on: 
Monday, March 2, 2020
Morneau Shepell, ONTARIO, Bill Morneau, Toronto, Economy of Canada, Warren Shepell

Morneau Shepell doubles down on areas of growth and market leadership; Hub to round out Canadian employee benefits solution with extensive actuarial services

Key Points: 
  • Morneau Shepell doubles down on areas of growth and market leadership; Hub to round out Canadian employee benefits solution with extensive actuarial services
    TORONTO, March 2, 2020 /CNW/ - HUB International Limited (Hub),aleadingglobalinsurance brokerage,and Morneau Shepell Inc. (TSX: MSI) (Morneau Shepell), a North American leader in integrated HR solutions, announcedtoday the sale of Morneau Shepell'sbenefits consulting practice to Hub.
  • Stephen Liptrap, President and Chief Executive Officer, Morneau Shepell, commented, "After a comprehensive review, we made the decision to divest our benefits consulting practice.
  • "The closing of this strategic transaction marks the beginning of a partnership between Morneau Shepell and Hub Hub choosing Morneau Shepell as a key partner in delivering Internet-based Cognitive Behavioural Therapy (iCBT) services and employee well-being services and Morneau Shepell selecting Hub as a preferred provider for benefits consulting services."
  • JP Girard, Morneau Shepell's Health & Benefits Consulting Canadian Practice Leader has joined Hub as Executive Vice President, Benefits Consulting National Accounts and is named to Hub's Canadian Employee Benefits leadership team .

Canadian Institute of Actuaries updates pension commuted value standards

Retrieved on: 
Thursday, February 27, 2020
Academic disciplines, Actuarial science, Economy, Mathematics, Demography, Insurance, Actuary, Morneau Shepell, Canadian Institute of Actuaries, Institute of Actuaries, International Actuarial Association

TORONTO, Feb. 27, 2020 /CNW/ -Morneau Shepell released the February 2020 issue of its monthly newsletter, News & Views , in which the company looks at the following topics:

Key Points: 
  • TORONTO, Feb. 27, 2020 /CNW/ -Morneau Shepell released the February 2020 issue of its monthly newsletter, News & Views , in which the company looks at the following topics:
    Canadian Institute of Actuaries finalizes new commuted value standards The Actuarial Standards Board of the Canadian Institute of Actuaries has updated its pension commuted value standards.
  • The new commuted value standards are expected to reduce slightly the commuted values of defined benefit pension entitlements, while increasing the complexity of commuted value calculations.
  • The revised standards also include new rules for calculating commuted values in target pension arrangements.
  • The regulation also provides that updates to the commuted value standards by the Canadian Institute of Actuaries will be adopted automatically.

Sixty-two organizations recognized as Employee Recommended Workplaces for 2020

Retrieved on: 
Thursday, February 20, 2020
Morneau Shepell, Workplace, Draft:Lifemark Health Group, Occupational safety and health

TORONTO, Feb. 20, 2020 /CNW/ - Today, Morneau Shepell and The Globe and Mail announced 62 Employee Recommended Workplaces for 2020.

Key Points: 
  • TORONTO, Feb. 20, 2020 /CNW/ - Today, Morneau Shepell and The Globe and Mail announced 62 Employee Recommended Workplaces for 2020.
  • Now in its fourth year, the Employee Recommended Workplace Award recognizes workplaces with proven success creating a healthy environment and one that supports employee well-being.
  • All recipients have earned the right to use the Employee Recommended Workplace badge in their communications materials to identify them as employers of choice.
  • The list of the 62 Employee Recommended Workplaces for 2020 is provided below.

Morneau Shepell finds employees would accept lower pay for enhanced well-being support

Retrieved on: 
Tuesday, January 28, 2020
Articles, Contents, Morneau Shepell, Mental health, Health, Bill Morneau

Across all geographies, employees ranked mental health as the top factor in their overall well-being, rising above physical health and personal health.

Key Points: 
  • Across all geographies, employees ranked mental health as the top factor in their overall well-being, rising above physical health and personal health.
  • Despite mental health being cited as the main priority, employees in Canada and the United States ranked their employers support of physical health issues above both mental and financial well-being.
  • The need for mental health support is largely driven by the continued stress that Canadians experience in their personal lives and in the office environment.
  • Morneau Shepell employs approximately 6,000 employees who work with some 24,000 client organizations that use our services in 162 countries.

Federal government delays proposed changes to employee stock option tax rules

Retrieved on: 
Thursday, January 23, 2020
Economy, Money, Finance, Pensions, Personal finance, Social law, Employee benefits, Defined benefit pension plan, Employee stock option, Benefit plan, Employee compensation in the United States, Social Security debate in the United States

The introduction of variable benefit accounts can make a pension plan more attractive to members, offer lower investment management fees and retain assets in the pension plan.

Key Points: 
  • The introduction of variable benefit accounts can make a pension plan more attractive to members, offer lower investment management fees and retain assets in the pension plan.
  • Federal government delays changes to employee stock option tax rules The federal government has announced that changes to the tax treatment of employee stock options that had been proposed in June 2019 have been delayed and would not come into effect on January 1, 2020, as previously scheduled.
  • A revised timeline for the implementation of the proposed changes is expected to be announced in the 2020 federal budget.
  • A graph shows the changes in the financial position of a typical defined benefit plan since the end of 2018.

Morneau Shepell and Sun Life announce a $560 million pension risk transfer from Iron Ore Company of Canada

Retrieved on: 
Thursday, January 16, 2020
Morneau Shepell, Actuarial science, Academic disciplines, Financial law, Financial risk, Risk management, Articles

There will be no change for members, who will continue to be paid from the plan as before the transaction.

Key Points: 
  • There will be no change for members, who will continue to be paid from the plan as before the transaction.
  • "Our unique bid process produced a great outcome for IOC and Sun Life," says Benot Labrosse, vice president, Morneau Shepell Asset & Risk Management.
  • "We were thrilled to work with IOC and Morneau Shepell to create such a meaningful and historic transaction.
  • Through the Asset and Risk Management practice, the company has also become an industry leader in pension risk management and pension risk transfer consulting.

Morneau Shepell and Interaxon collaborate for brain health and workplace well-being innovation

Retrieved on: 
Monday, January 13, 2020
Branches of biology, Mind–body interventions, Medicine, Spirituality, Brain–computer interfacing, Muse, Research on meditation, Mindfulness, Meditation, Electroencephalography, Biofeedback

We are continuously seeking and investing in innovation to improve lives and support organizations, and improving mindfulness with bio-feedback is aligned to this."

Key Points: 
  • We are continuously seeking and investing in innovation to improve lives and support organizations, and improving mindfulness with bio-feedback is aligned to this."
  • Employers are recognizing the potential benefits of mindfulness and meditation in improving workplace productivity and reducing costs.
  • Interaxon's Muse headband is a research grade electroencephalography (EEG) device that provides visual and auditory feedback to this user on brain activity.
  • More information about Interaxon and the Muse headband and the new Muse S is available at www.choosemuse.com .

Manitoba introduces reduced solvency funding and greater flexibility for unlocking pension funds

Retrieved on: 
Monday, December 30, 2019
Economy, Finance, Money, Pensions in Canada, Morneau Shepell, Pension, Defined benefit pension plan, Companies' Creditors Arrangement Act, Bankruptcy and Insolvency Act, Insolvency

Bill C-97 adds a "duty of good faith" to the Bankruptcy and Insolvency Act (BIA) and the Companies' Creditors Arrangement Act (CCAA).

Key Points: 
  • Bill C-97 adds a "duty of good faith" to the Bankruptcy and Insolvency Act (BIA) and the Companies' Creditors Arrangement Act (CCAA).
  • Manitoba amends The Pension Benefits Act On November 27, 2019, the Manitoba government introduced Bill 8, which will permit greater flexibility for both unlocking pension funds and dividing pension assets following the breakdown of a spousal or common-law relationship.
  • The Manitoba government also promised to introduce regulations to reduce solvency funding requirements to 85 per cent of solvency liabilities and enhance going concern funding requirements.
  • The impact of pension expense under international accounting as at November 30, 2019 Morneau Shepell has shown the evolution of the pension expense for a typical defined benefit pension plan.

CAA Club Group adds 24/7 virtual doctors to employee benefits package

Retrieved on: 
Wednesday, December 18, 2019
Land transport, Morneau Shepell, CAA South Central Ontario, Transport, CAA, Roadside assistance, Canadian Automobile Association

Offered through a joint partnership with Maple and Morneau Shepell's employee and family assistance program (EFAP) team, CAA Club Group's associates will now be able to access doctors in minutes, 24/7, through an industry-leading virtual care platform.

Key Points: 
  • Offered through a joint partnership with Maple and Morneau Shepell's employee and family assistance program (EFAP) team, CAA Club Group's associates will now be able to access doctors in minutes, 24/7, through an industry-leading virtual care platform.
  • The new benefit will be added on top of CAA Club Group's comprehensive and forward-thinking workplace well-being package, which includes EFAP services through Morneau Shepell.
  • Even with a progressive benefits package in place, CAA Club Group saw this new offering as essential to the health and well-being of employees.
  • The CAA Club Group is Canada's largest automotive association comprised of two clubs, CAA South Central Ontario and CAA Manitoba, providing roadside assistance, travel, insurance service and member savings for over 2.3 million members.

Financial Services Regulatory Authority of Ontario issues pension priorities for 2020

Retrieved on: 
Wednesday, November 27, 2019
Economy, Personal finance, Finance, Money, Pension, Social law, Pensions in the United Kingdom

The documents detail FSRA's priorities to strengthen its oversight activities in the pension sector and identifies the principles that will help guide those activities.

Key Points: 
  • The documents detail FSRA's priorities to strengthen its oversight activities in the pension sector and identifies the principles that will help guide those activities.
  • New pension regulator established in British Columbia As of November 1, 2019, the Financial Institutions Commission (FICOM) was officially replaced by the BC Financial Services Authority (BCFSA) as British Columbia's pension regulator.
  • Changes to benefit plans in Ontario, Quebec and Alberta Several changes to provincial health care benefits have been announced recently.
  • Effective January 1, 2020, the Ontario Health Insurance Plan will no longer cover emergency medical costs for individuals from Ontario travelling outside of Canada.