...from the Globe and Mail.... Torstar Corp. (TS.B-T) says it has received approval from the members of its eight registered defined benefit pension plans to proceed with the merger of the Torstar Plans with the Colleges of Applied Arts & Technology Pension Plan, effective Oct. 1. Torstar and certain of its subsidiaries will become participating employers under the CAAT Plan, the company said.
“Following the consent of the Superintendent of Financial Services (Ontario), the liabilities for all past benefits under the Torstar Plans will be transferred to the CAAT Plan together with the assets of the Torstar Plans, and the CAAT Plan will assume responsibility for all pension benefit payments to members of the Torstar Plans going forward,” the company stated. “No additional cash funding related to the transferred liabilities is expected to be required from Torstar in connection with the merger.”