Employer News - December Roundup

Posted for Employers, December 5, 2018

News & Events

DBplus purchase updates

At the Employer Update on December 4, we gave an introduction to DBplus purchases. If you weren’t able to attend, or would like a refresher, be sure to download the slide deck from the session.

In February, the DBplus Estimator will be enhanced to allow members to see the value a purchase can provide.

Employer Manual updated to include DBplus

We want to make sure you have the resources and information you need for DBplus in advance of the January 1, 2019 effective date. The first major DBplus update to the Manual was completed on November 30.

What’s new?

  • Where applicable, the information on a process or member event is divided into DBprime and DBplus.
  • Many forms have been updated so they can be used for DBplus or DBprime. You’ll find the forms in the Employer Manual.

What should you do?

  • Be sure to have a look at the Employer Manual before January 1, 2019 to get familiar with any new information.
  • Always get forms and spreadsheets from the Employer Manual, to ensure you have the most current version.
  • Stay tuned for more updates to content and forms in the months ahead – we’ll include any updates in the Employer News, and in the “What’s New” section of the Employer Manual.
  • If you have any questions or feedback on the Employer Manual, contact your Employer PA.

Employer Attestation starts in January

The Employer Attestation process for 2018 will start in January, 2019.

Schedule

  • Emails to all CEOs advising them of the timing of the attestation packages will be sent in first week of January.
  • The Attestation letter, form, and training schedule will be sent to CEOs between January 9 – 11.

How to get ready
Be sure to review your 2018 training attendance report, and ensure that it’s up to date. If you need to make updates, give them to your Employer PA by December 21.


Deadlines for January pension payment starts 

  • December 13: Deadline to receive completed option documents to ensure January 2 pension starts.

Data Collection Tool (DCT) schedule

The DCT process is starting in January. Be sure to put these key dates in your calendar:

January 24 – DCT training webinar – Registration information will be sent in the new year
January 25 – DCT available for use
March 13 – DCT is due


2017 strike purchase for concurrent members – mailing in December

We have completed the data analysis for concurrent members relating to the 2017 strike. Purchase packages will be mailed to these members by the end of December.

We will reach out to you if we require any data confirmations.


Keeping up to date with retired members

Inflation protection mail out to retired members starts January 4
The annual letters notifying retired members of the inflation protection increase (1.62%) will be mailed on January 4. A retired member newsletter is included with the letter. We sent an email announcement of the new rate to all retired members who subscribe to My Pension NewsLink this week.

As always, if you get pension-related inquiries from retired members or survivors, please refer the member to the CAAT Plan member services team.


Employer training schedule for 2019 – mark your calendar!

January 24 – DCT Training

February 21 – Termination, Retirement, Death – in year reporting
March 29 – DBplus pension purchases
April 23 – Employer Update
May 9 – Forms review / prior year adjustments from employers
June 6 – Re-enrolment of Plan members / Eligibility for enrolment
July 23 – Employer Update
October 3 – TBD
November 7 – Pensionable earnings, service, contributions, PA (both DBplus and DBprime)
November 26 – Employer Update

As always, you can find the employer training schedule on the website. Invitations for education webinars are sent about two weeks in advance.


Member presentations – new DBplus introduction sessions are popular

Fall webinars for DBplus are underway
As part of the rollout for DBplus, we have been holding a series of webinars for members and non-members. We’ve held three of the five scheduled for members, and one for non-members. So far, 500 members have attended one of these sessions.

The final two webinars are on Friday, December 7, and Thursday, December 13. Visit the website for more information and registration information.

Be sure to encourage any OTRFT members who has questions to register for a webinar.

2019 on site sessions are booking

We have started are booking sessions well into next year.

Contact presentations@caatpension.on.ca to schedule your on-site session. Be sure to let us know if you would like help promoting your sessions or tracking registration.

Regional retirement planning events remain popular

The most recent, hosted by Sheridan College had 168 members and spouses on a Saturday. If you would like to have a weekend event on your site, contact presentations@caatpension.on.ca.


Upcoming events

Office closure – December 14

The CAAT Pension Plan offices will be closed for the afternoon.

Office closure - December 25 - January 1, 2019

The CAAT offices will be closed for the holidays.

DBplus goes live - January 1

Employer attestation packages - January 9 - 11

Employer attestation packages will be sent out.

Employer education session - Jamuary 24

Employer Education session on DCT to take place.

Invitations for the employer updates and educations sessions will be sent out approximately two weeks prior to the scheduled date.


Service Standard Levels

For the month of Novem2018

Event Quantity Service standard compliance
Enrolments 508 processed 100%
Retirements 83 options provided
100 elections processed
96%
99%
Pension Estimates 148 estimates provided 100%
Terminations 82 notifications of extension of membership (EOM)
48 termination option documents
43 elections processed
100%

100%
100%
Service Purchases 51 quotes provided 100%