United States: IRS Updates Special Tax Notice For Retirement Plans

The Internal Revenue Service has issued Notice 2014-74, updating its safe harbor model notices for use by qualified retirement plans to satisfy the special tax notice requirement under Section 402(f) of the Internal Revenue Code relative to recipients of eligible rollover distributions. The Notice explains why the changes were made and provides updated safe harbor model notices for distributions from both non-Roth and designated Roth accounts.

In general, administrators of qualified retirement plans must provide […]

By | January 6th, 2015 ||

Canada: OHRC Issues Statement On Sexual Harassment

Perhaps not surprisingly given all the media attention on the issue of sexual harassment in recent months, the Ontario Human Rights Commission recently issued a statement regarding sexual harassment and Ontario’s Human Rights Code.

The Commission reiterates that employers have a legal duty to prevent and respond to sexual harassment in the workplace. The Commission states that employers can prevent many cases of sexual harassment by:

Having a clear, comprehensive anti-sexual harassment policy in place;
Ensuring all […]

By | January 6th, 2015 ||

Canada: Broader Public Sector Accountability Bill Receives Royal Assent

Bill 8, An Act to promote public sector and MPP accountability and transparency by enacting the Broader Public Sector Executive Compensation Act, 2014 and amending various Acts, received royal assent on December 11, 2014.

Among the changes, the enactment of the Broader Public Sector Executive Compensation Act, 2014, provides for the establishment of “compensation frameworks” for certain designated executives of designated employers. These frameworks, when established, may limit compensation and payments made to designated executives, […]

By | January 6th, 2015 ||