Employer News - May Roundup

Posted for Employers, May 22, 2020

News & Events

Reporting leaves – batch file option available

To make it easier for you to report multiple leaves or layoffs for 2020, we are offering two ways to report them to the Plan:

  1. Submit a batch file spreadsheet (no forms required) - If you would like to submit multiple leaves at once using a batch file (Excel spreadsheet), please refer to the Employer Education Guide page on our website, as covered on the May 14 session. Here, you can watch the recorded session, access a batch file sample you can use as a guide, and view file specifications. If you choose to submit a batch file to report leaves or layoffs, you do not have to complete the Leave notification and purchase request within 6 months from end of leave, Unpaid Leave of Absence form. Please submit the batch file once you have confirmed all leaves and lay-offs so they can be reported all at once.
  2. Submit one form for each member - If you would like to submit the leaves or layoffs using the Leave notification and purchase request within 6 months from end of leave, Unpaid Leave of Absence form, you may do so. To improve efficiencies, a Microsoft Word version will be available so you can merge data to the form.

Contact your employer PA for assistance and answers to your questions.

Annual Report now available

The 2019 Annual Report is now available on our website. The Annual Report contains the Plan's performance for 2019 and outlook for the future.

To learn about the financial status of the Plan and its continued sustainability, read the Annual Report.

If you missed the annual year-in-review webinar with Plan CEO Derek Dobson, you can watch it on our website now. More than 800 members attended and had a chance for a Q&A with Derek.

Member Annual Statements – in progress and on schedule for June 30

Member annual statements are currently being processed and mailed to members.

As of May 19, a total of 5,000 statements have been mailed:

  • Active member statements have been sent for 19 employers so far.
  • Retired member statements started mailing on May 8. Statements will be mailed each week in batches of 2,500 until June 19.
  • Deferred and EOM statements are on schedule to be mailed by June 30.

If members ask about the status of their statement, please let them know that they should receive it by June 30, 2020.

Revised annual statements – detailed HAPE calculation removed

We received some questions asking why the detailed calculation of highest average pensionable earnings (HAPE) has been removed from annual statements for DBprime members, as employers have said that they use this information when assisting members.

Removing the detailed calculation makes the statements simpler for members to read and understand, and aligns the statements with other key information, such as the final retirement package, that members receive.

If you require information on a specific member’s HAPE, contact your employer PA.

June 30 retirements – documents due June 12

We have received approximately 140 applications 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.

The Annual Member Survey is coming

Your opinion matters! Keep an eye on your inbox in the coming weeks for the Annual Member Survey.

For employers that provide pass-along links of the survey to their members, please do so promptly so members have enough time to fill out the survey.

Book a member presentation webinar today to show members their future is secure

Over the past month, we have held four member presentation webinars. Attendance numbers are high, and many members had the opportunity to have their important questions answered by our pension expert while they were tuned in.

Watch the video that shows the feedback survey results from member presentations in 2019, and share it with your members.

To arrange a webinar 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:

  • June 4 - Employer Education Session - Plan enrolment and Eligibility
  • July 28 - Employer Update

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