Employer News - August Roundup

Posted for Employers, August 13, 2019

News & Events

New member and employer portal project – we are collecting your feedback!

As part of our ongoing commitment to simplifying pension administration work, we are developing employer and member portals. This project is in the early stages, and we want to talk to employers about the direction we are taking to gain a better understanding of the impact the portal will have on you and your work. We’re also looking for your perspective on what would be valuable for your members.

We held our first consultation with some employers on August 8th at the CAAT office where we received helpful feedback. Thank you to everyone who attended. A second consultation session will be conducted on August 15 with another group of employers.

We want to thank the selected employers for their time and for assisting us with this initiative. We will use this feedback when we are completing the business requirements for the portals over the next couple of months.

Continuous improvement: simplifying purchase contribution remittance forms

We have updated the Contribution Remittance Summary for Purchased Service form to make it easier for you to use and submit.

  • You can now select the type of purchase from a drop-down menu under the “contribution type” column. If you’re entering information for multiple members, remember to provide a separate row per person.
  • Additionally, we have improved the way that you submit the form! You will now submit the form through the Plan’s Secure document sharing tool (S-Doc). Be sure to use the new S-Doc for purchases at: sdoc.caatpension.on.ca/filedrop/service-purchase. Note, we are no longer accepting faxes.

All documents will go directly to CIBC Mellon, and the Plan will receive a copy.

Annual EOM and Termination project – 70% complete

The Plan is currently preparing EOM letters and option packages for members who did not contribute to the Plan in 2018, and therefore were reported as non-contributory (NC) in the DCT.

This year, we received approximately 500 notifications of termination or retirement for members who ended OTRFT employment in 2017. We have completed approximately 70% and are on-target to complete the project by October 31, 2019.

Pension confirmation process in final stages: 97% complete

As of July 29, we have received 97% of pension confirmations from retired members. The Plan will be making follow-up phone calls in August to those who have not returned their pension confirmation form.

Arrangements will be made in September for the October 1 pension payments to stop for those that we are unable to locate.

Annual Employer Opinion Survey now open – your opinion counts!

Our 2019 employer opinion survey is now open. Email invitations to take the survey were sent August 1. Please take the survey to help us measure our performance, shape our strategic direction, and identify ways we can improve.

This year’s survey is a little shorter, with some new questions. We want to hear your feedback on the Plan's continued growth. We also want your input on the features to build into self-serve portals for members and employers and your thoughts on our continuing service to you and your employees.

The employer survey will be open until September 9.

The survey of retired members remains open until early September too. The active member survey has closed. Both have had excellent response rates.

Updates to the Employer Manual for DBplus employers

We are in the process of updating the employer manual to include information that applies to DBplus-only employers. None of the current content within the manual will be changed.

Member Presentations – book a session for the fall!

We are currently booking presentations for the fall and spaces are filling up fast!

We offer presentations on the following topics:

  • Retirement planning
  • Plan overview
  • DBplus pension purchases or DBprime service purchases

If you’re interested in organizing an onsite presentation for your employees, or if you’d like to host a regional session, contact Sylvia Golebiowski at presentations@caatpension.on.ca.

Upcoming events

Be sure to take note of the following dates, and register for and attend upcoming sessions:

October 3 - Employer Education Session

Pension purchases

November 7 - Employer Education Session 

Pensionable earnings, service, contributions and pension adjustments

Invitations for these sessions will be sent out approximately 2 weeks before the session

Service Standard Levels

For the month of July 2019

Event Quantity Service standard compliance
Enrolments 252 processed 100%
Retirements 79 options provided
93 elections processed
Pension Estimates

110 estimates provided

Terminations 79 notifications of extension of membership (EOM)
101 termination option documents
36 elections processed

Service & Pension Purchases 42 quotes provided 100%