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Ontario Court Finds Administrators Not Obligated to Disclose Contemplated Changes
Plan administrators are breathing a sigh of relief after the unanimous Ontario Court of Appeal (OCA) decision in Hembruff et al. v. Ontario Municipal Employees Retirement Board. The OCA overturned a lower court decision that administrators have an obligation to inform members of contemplated plan changes. While the Ontario Pension Benefits Act has long required advance disclosure of the terms of adverse amendments, the requirement to disclose possible changes raised a number of serious questions and concerns for administrators. Fortunately, the OCA has provided reassurance on the nature and extent of the disclosure obligation.
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