Employer News - February Roundup

Posted for Employers, February 6, 2019

News & Events

Administering DBplus

DBplus pension purchases – coming in April

We have launched a “purchase module” on the DBplus Estimator.

It will let members see the impact of a purchase on their pension. In April we will be launching an additional tool to assist members in completing the purchase application, similar to the ACE Tool for members of DBprime.

DBplus pension purchases will be available starting April 1. If you have received requests for purchases from members, please do not submit them to CAAT until April 1.


DBplus form updates are ongoing

Reminder: The Employer Manual has been revised with DBplus information and forms. Be sure to use the manual as your source for up-to-date information and forms.

The next form to be updated will be the Termination Smart form which will be available towards the end of this month.

As always, take some time to review new forms, and follow up with your Employer PA if you have any questions.


Annual data collection in process

The Data Collection Tool (DCT) has launched, and we have already received completed submissions from three employers.

If you missed the training session, or need a refresher, a recording of the webinar is available here, where you will also find the DCT guide and checklist. In addition, there is a spreadsheet for you to simplify reporting of "Not Contributing" members who should be terminated and put into the Plan’s Extension of Membership status.

Remember that the DCT completion deadline is March 13, 2019.


Employer attestation on track

Thank you to everyone who has sent in their completed attestation.  To date, we have received 15 completed attestation forms. The attestation deadline is March 29, 2019.

If you have any questions about the attestation process, contact Angela Goodchild.


Pension Adjustments (PA) for members on LTD/full WSIB 

You can help us stay on schedule and avoid penalty fees: Please provide all LTD start/stop notices to the Plan as soon as possible. We will be preparing T4As to meet the tax reporting deadline at the end of February.


Member Presentations

As usual, we are booking up fast for presentations and webinars in February and March, but we still have room on our schedule. Remember that we can hold sessions outside of work hours, including on weekends, to provide flexibility for your employees, and give them the opportunity to attend with a friend or their spouse.

Reach out to presentations@caatpension.on.ca if you would like to book an in-person session for your members, or if you’d like to be the host location for a regional event. We can also provide logistical support – including help promoting your session, or tracking registrations.

DBplus is generating a lot of interest! To accommodate it, we are hosting a series of DBplus webinars for any employee interested in joining DBplus, in English and French. Find the schedule here.


Upcoming events

Be sure to register and attend these upcoming education sessions

Employer Education Session - February 21

In-year reporting for terminations, retirements, and deaths

Employer Education Session - March 28

DBplus pension purchases

Invitations for each session will be sent out approximately 2 weeks before the webinar.

 


Service Standard Levels

For the month of January 2019

Event Quantity Service standard compliance
Enrolments 531 processed 94%
Retirements 18 options provided
37 elections processed
94%
97%
Pension Estimates

357 estimates provided

(includes 185 estimates provided to one employer with voluntary incentive retirement program)
97%
Terminations 45 notifications of extension of membership (EOM)
108 termination option documents
49 elections processed
96%

99%
100%
Service Purchases 49 quotes provided 98%