Employer News - March Roundup

Posted for Employers, March 6, 2019

News & Events

DBplus pension purchases - Timeline and training  

Members will be able to make DBplus pension purchases starting April 1. DBplus pension purchase training will be provided to employers in the March 28 webinar.

  • In the March 28 webinar training, you will learn about the process for DBplus pension purchases, and the timelines associated with this process.
  • In April, the Member Newsletter will provide information about DBplus pension purchases.
  • The Plan will start processing DBplus pension purchase requests for members who want to purchase a period of part time employment prior to enrolling in the Plan.
  • In July, all other types of pension purchases for DBplus members will be processed by the Plan.

Reach out to your PA if you have any questions regarding DBplus pension purchases.


Annual Data Collection due on March 13

The Data Collection Tool (DCT) launched in January, and we have already received completed submissions.

The DCT completion deadline is March 13, 2019. If you are unable to deliver your file by this date, please advise your PA by March 8 and provide your expected delivery date for your DCT.


Contribution reconciliation process starts once DCT submissions are complete

Once we receive the DCT, the contribution reconciliation process will be run.  Any missed contributions for 2018 must be reported directly to your Employer PA after the DCT has been sent to CAAT Pension Plan. 

If you become aware of any corrections to your 2018 data after the DCT has been submitted, contact your PA who can help guide you on how to correct the data.


Employer attestation on track

Thank you to everyone who has sent in their completed attestation.  To date, we have received 21 completed attestation forms. The attestation deadline is March 29, 2019.

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


T4As mailed

545 Tax slips with Pension Adjustments for members in receipt of disability benefits were mailed on February 26, 2019.


June 30 retirement applications due March 29

Be sure to send retirement applications by March 29 for members retiring on June 30, so that pensions can start on time.

If a retiring member wants to purchase a strike period, please make sure to let them know that they should have the payment completed at least two months before their retirement date to avoid their first payment being delayed.


2018 Retired Member Annual Statements mailing starts soon

Annual statements for retired members and survivors will be mailed directly to them between March 27 to April 24. The annual Pension Payment Confirmation form will be included in the statement, along with instructions on how to complete it.

For members who have questions about their statements, please direct them to call member services.


Member Presentations – Regional event March 30

We have scheduled a regional presentation at Seneca College on Saturday, March 30. Invitations to surrounding colleges will be sent out this week.

The 2018 survey results show that regional events are in demand:

  • 81% of survey respondents said that the day and time of the event was important or very important to them
  • 67% said the location was important or very important

Contact us at 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, and tracking registrations.


Upcoming events

Be sure to register and attend these upcoming education sessions

Employer Education Session - March 28

DBplus pension purchases

Employer Upda - April 23

April Employer Update

Employer Education Session - May 9

Revised forms

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

 


Service Standard Levels

For the month of February 2019

Event Quantity Service standard compliance
Enrolments 531 processed 100%
Retirements 70 options provided
55 elections processed
96%
100%
Pension Estimates

226 estimates provided

(includes 65 estimates provided to one employer with voluntary incentive retirement program)
100%
Terminations 46 notifications of extension of membership (EOM)
53 termination option documents
40 elections processed
100%

100%
100%
Service Purchases 23 quotes provided 100%