Employer News - February Roundup

Posted for Employers, February 20, 2020

News & Events

Reminder: 2019 forms required for Pension Adjustments for members on LTD/WSIB

Please ensure forms for LTD/WSIB leaves that started or ended in 2019 are sent to the Plan as they were due on February 18.

The CAAT Plan will be issuing and reporting T4As with pension adjustments for members on LTD to CRA by February 29, 2020.

Due March 16: DCT 2019 data and Summary of 2019 Contributions

2019 DCT

Thank you to employers who have already submitted DCTs. Reminder that the DCTs are to be submitted to the Plan by March 16.

Summary of 2019 Contributions

You will receive the Summary of 2019 Contributions from the CAAT Finance team on February 26. Please review and email Sean McFarland at smcfarland@caatpension.on.ca to confirm the amounts by March 16.

Contact your employer PA for any assistance with your data submission.

Employer Attestation for 2019 due March 31

We have received 20 attestations to date. The 2019 Attestation forms must be completed and sent back to the Plan by March 31, 2020.

Send your completed forms to Sandy Cook, Manager, Employer Services at scook@caatpension.on.ca. For any questions about the attestation, please contact Sandy.

Pension adjustment review by CRA

The Plan has received some inquiries from employers about prior year pension adjustments (PA): CRA has requested that some employers review these PA amounts when it is lower than the member’s contribution amount reported for the year.

Based on the Plan’s review, these PA amounts have been correct in the instances where a PA will be lower than a member’s contribution.

If you are contacted by CRA about prior year pension adjustments, please advise your employer pension analyst so we can review the member's data to ensure everything is correct and assist in your response to CRA.

The more members know about their pension, the more they value it

In 2019, we reached 6,285 members through on-site member presentations, regional events, webinars, and online video views, exceeding our target of 5,000 members.

When members were surveyed about 2019 presentations, the results showed:

  • Ideas and concepts were explained better in the new and improved slides.
  • A higher number of members whose opinion on the value of their pension, security of their benefit, and the Plan’s expertise improved considerably.
  • Members are more likely to recommend one of our sessions than in the past.
    • 93% would be very likely to recommend a session after attending a session in 2019, compared to 89% in 2018.

Book a presentation for 2020

To arrange a presentation for your members, contact presentations@caatpension.on.ca with your preferred date, so that we can secure it for you.

Upcoming Events

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

  • February 25 – Employer Update webinar
  • March 16 – DCT Data due
  • March 16 – Review of Summary of 2019 Contribution due
  • March 31 – Employer Attestation forms due
  • April 2 – Employer Education Webinar – Annual Statements

Invitations for the webinars will be sent out approximately 2 weeks in advance.