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The Kerry Decision: Contributions, Expenses and Surplus
On June 5, 2007 the Ontario Court of Appeal released its decision in Kerry (Canada) Inc. v. DCA Employees Pension Committee. The Court unanimously ruled in favour of the employer, overturning the Divisional Court decision and restoring the Financial Services Tribunal decision. The Kerry decision raises several interesting possibilities for plan sponsors regarding payment of expenses from the pension fund and using surplus under the DB component of a plan to make contributions to the plan''s DC component.
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