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FSRA releases guidance on commuted value transfers and annuity purchases for db plans

from Koskie Minsky

FSRA releases guidance on commuted value transfers and annuity purchases for db plans Koskie Minsky On May 22, 2020, FSRA released Guidance on its approach to reviewing applications for commuted value transfers and annuity purchases under sections 19(4) and 19(5) of the Pension Benefits Act’s Regulation 909. The newly released Guidance addresses what restrictions apply to a Plan Administrator when a defined benefit pension plan’s transfer ratio has declined by ten per cent or more and the resulting transfer ratio is below 0.9. The Guidance replaces FSCO’s Policy on Commuted Value Transfers. READ MORE

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