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Article: Pension plan sponsors in Canada need fiduciary protection: Expert; U.S.-style shield would help efforts to educate workers.
- Article from:
- Business Insurance
- Article date:
- September 24, 2007
- Author:
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: GLORIA GONZALEZ
CHARLOTTETOWN, Prince Edward Island-Canadian pension plan sponsors want to aid members' retirement preparation, but they also want a legal shield similar to a relatively new law that protects U.S. sponsors, a consultant says.
Such a law could spur automatic enrollment in defined contribution plans and result in more advice to Canadian plan members on investment strategies, experts told the Assn. of Canadian Pension Management at its annual conference held Sept. 10-13 in Charlottetown, Prince Edward Island.
The Pension Protection Act of 2006 gave plan sponsors in the United States fiduciary relief in implementing ...