This is my second blog post in a series regarding target benefit
plans (TBPs) (for Part I, which provides a general overview of
TBPs, see my March 10, 2014 post). In this post I will
focus on New Brunswick, as the first jurisdiction that has
implemented comprehensive target benefit legislation.
In 2012, New Brunswick introduced legislation and regulations for shared risk plans (SRPs), a
type of TBP. New Brunswick's approach was to introduce SRPs as
a design option outside of traditional defined benefit (DB) and
defined contribution plans. The legislation could apply to public
or private sector plans, single or multi-employer plans and in a
unionized or non-unionized environment. There have been several
plans in New Brunswick, both in the public and private sector, that
have converted to shared risk under the new legislation.
