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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
Bahamas April 2024 Social security change Increase to National Insurance Contributions Medium https://aon.io/3TZJnXp
           
Canada April 2024 Governance Nova Scotia-Bill 419, Financial Measures (2024) Act Medium https://aon.io/3Uts9Sz
  April 2024 Governance Old Age Security (OAS) Payment Amounts Medium https://aon.io/3UtEO7T
  April 2024 Governance Minimum Wage 2024 Medium https://aon.io/3vMxv1M
  March 2024 Governance Canadian Sustainability Disclosure Standards Medium https://aon.io/3TxJcRW
  March 2024 Governance Federal – Multi-Jurisdictional Pension Plans Medium https://aon.io/4airJDx
  March 2024 Governance Registered Plans Portal Medium https://aon.io/48S61Fi
  March 2024 Governance Review of Occupational Health and Safety (OHS) Code and minimum wage/ Healthcare budget items Medium https://aon.io/3P2q8JN
  February 2024 Governance New Income Tax Folio S2-F1-C3, Pension Benefits Medium https://aon.io/3SKFZ0J
  February 2024 Governance Quebec proposals for retirement savings Medium https://aon.io/3w8AuS4
  February 2024 Governance Canadian Benefits Guide Medium https://aon.io/3w59bru
  January 2024 Governance Weekly Radar Medium https://aon.io/47M2Aje
  January 2024 Governance Employment Standards/Employment Equity Medium https://aon.io/3TM0hJw
  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
           
Puerto Rico February 2024 Pension plan benefits 2024 Qualified Retirement Plans limits High https://aon.io/49KpM2J
           
United States of America April 2024 Governance SECURE 2.0: Time-Limited Opportunity for Cash Balance Plans to Eliminate Minimum Interest Crediting Rates High https://aon.io/3TWSXuf
  April 2024 Governance Comment Period for SECURE 2.0 Section 319 – Effectiveness of Reporting and Disclosure Requirements Extended to May 22 Medium https://aon.io/3QdVZb8
  March 2024 Governance Legal Consulting & Compliance Quarterly Update High https://aon.io/3P8SnGO
  February 2024 Governance Aon Publications on Federal Developments in 2023 Medium https://aon.io/48cKve9
  February 2024 Pension plan benefits 2024 Aon Compliance Calendar Medium https://aon.io/3Umr5jW
  February 2024 Pension plan benefits Departments Issue Guidance on New Emergency Savings Accounts (PLESAs) Medium https://aon.io/42ymzkb
  February 2024 Pension plan benefits Internal Revenue Service (IRS) Releases Final Regulations Updating Minimum Present Value Requirements for Defined Benefit Plan Distributions Medium https://aon.io/3SKYROv
  January 2024 State pension reform Internal Revenue Service (IRS) Releases Guidance on Miscellaneous Changes Under the SECURE 2.0 Act Medium https://aon.io/42aHtWv
  January 2024 DC change Internal Revenue Service (IRS) Publishes Notice on 2023 Cumulative List of Changes in Plan Qualification Requirements for Defined Contribution Qualified Pre-Approved Plans Medium https://aon.io/4blbibd
  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

 

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