Employer News - June Roundup

Posted for Employers, June 5, 2019

News & Events

DCT change for DBplus

There will only be one change to the 2019 DCT process for DBplus.

The 2019 DCT will have two Pension Adjustment fields: a DBprime Pension Adjustment amount field, and a DBplus Pension Adjustment amount field.

For members who do not change employment status in the same reporting year, employers will report either a DBprime Pension Adjustment for full-time members or a DBplus Pension Adjustment for OTRFT members.

For members who switched between OTRFT and full-time employment status (or vice-versa) in the same reporting year, employers will need to report both Pension Adjustment amounts.

If you have any questions about this change, please contact your employer PA.


DCT Contribution Reconciliations

We have completed and sent out contribution reconciliations for 35 employers. The remainder will be completed and sent in June.


Annual Statements mailed to 89% of all active members

To date, we have printed and mailed out Annual Statements for 95% of employers, and printed and mailed Statements to 89% of all active members in the Plan.

Annual Statements for members in the 24 month extension of membership period will be mailed this month.

If members have any questions, they can contact the Plan through the Member Services hotline.


June 30 retirements – documents due June 12

For June 30 retirements, the deadline for receiving completed pension option forms and supporting documents from members is June 12.

There will be an additional run to set up pensions on July 15 for documents received by July 4.


Pension Confirmations – follow up letters

We have received more than 77% of the Pension Confirmation forms from retired members. Follow-up letters will be sent out at the end of June to those who have not sent their completed forms.


Annual CAAT Pension Plan member survey

The annual CAAT Pension Plan member survey was emailed to members the week of May 27.

Surveys will be completed online through an email invitation, using the password provided to them in the email initiation.

Employer surveys will be sent out in August.

Please have members contact the Plan if they require another password or have any questions about the survey.


Member Presentations – DBplus pension purchase sessions

A new member information session on DBplus pension purchases will be offered to members in a series of webinars starting this month and again in the fall. The DBplus pension purchase webinar will introduce part-time members to pension purchases.

The first set of webinars on DBplus pension purchases have been scheduled for the following dates:

  • Monday, June 24: 12:00 pm – 1:00 pm
  • Thursday, June 27: 3:00 pm – 4:00 pm

Invitations for the DBplus pension purchase webinar will be sent out this week.

If you wish to book an in-person session, we have combined the DBplus pension purchase and the DBprime service purchase sessions into one presentation.

The next set of in-person sessions will be scheduled for the fall.

Book a session on DBplus pension purchases now

Contact us at presentations@caatpension.on.ca, or contact Sylvia Golebiowski directly, to book an in-person session for your members.


Upcoming events

Be sure to register and attend these upcoming education sessions:

Employer Education Session - June 6

Enrolments and Eligibility

Employer Update - July 23

Join us for an Employer Update

Employer survey - August

Employer survey to be sent out
 

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


Service Standard Levels

For the month of May 2019

Event Quantity Service standard compliance
Enrolments 263 processed 100%
Retirements 241 options provided
96 elections processed
99%
96%
Pension Estimates

134 estimates provided

100%
Terminations 105 notifications of extension of membership (EOM)
75 termination option documents
40 elections processed
96%

97%
100%
Service & Pension Purchases 44 quotes provided 93%