Employer News - September Roundup

Posted for Employers, September 6, 2019

News & Events

Member and employer portal project update – initial consultations and next steps

In the early stages of the member and employer portal project, we invited employers to give us feedback on the direction we are taking to better understand the impact the portal will have on you and your work.

In August, we held two separate consultations with representatives from various employers, including a representative from the College Employer Council.

Thank you to everyone who attended and shared their perspective. We will use the feedback to help us prioritize the portal requirements over the next few months and the development phase of the project in 2020.

Stay tuned for updates on the portals via the Employer News and Employer Updates.

If you want to provide input on features you’d like to see in the member and employer portals, be sure to complete the Employer Survey (closing Sept 9).

Continuous improvement: simplifying purchase contribution remittance forms

We have updated the Contribution Remittance Summary for Purchased Service form to make it easier for you to use and submit.

  • You can now select the type of purchase from a drop-down menu under the “contribution type” column. If you’re entering information for multiple members, remember to provide a separate row per person.
  • Additionally, we have improved the way that you submit the form! You will now submit the form through the Plan’s Secure document sharing tool (S-Doc). Be sure to use the new S-Doc for purchases at: sdoc.caatpension.on.ca/filedrop/service-purchase. Note, we are no longer accepting faxes.

All documents will go directly to CIBC Mellon, and the Plan will receive a copy.

Annual Employer Opinion Survey closing September 9

Our 2019 employer opinion survey is still open! Take the survey today as it closes on September 9. Your opinion helps us measure our performance, shape our strategic direction, and identify ways we can improve.

This year’s survey will also give you the opportunity to share your feedback on the Plan’s continued growth, and the features you’d like to see in the member and employer portals.

Change of Employment form updated – no need to report DBplus pension adjustment 

The pension adjustment for DBplus members will only need to be reported through the annual DCT process.

The updated Change of Employment form will be available for use later this fall. Please continue the practice of not reporting DBplus pension adjustment amounts on the current version of the change form until the revised form is available.

Annual EOM and Termination project – on track to complete by October 31

We have completed 85% of the EOM letters and option packages for members who ended OTRFT employment in 2017.

Pension confirmation process in final stages: Payment suspensions October 1

As of August 28, we have received 97% of pension confirmations from retired members. The Plan will be making follow-up phone calls until mid-September to those who have not returned their pension confirmation form.

Effective October 1, the payments of those members we are unable to locate will be stopped until we hear from them.

Annual employer administration process reviews: focus on DCT

The annual employer administration process review helps us understand the issues you experience during the pension administration process. This year, the review will focus on the annual data collection process and the DCT. In the coming weeks, we will reach out to four or five employers to schedule an on-site review session.

During the session, we will seek your feedback on

  • How you work on the DCT
  • What features you find useful, and
  • Your suggestions for improvements

And we will share our experience using the DCT once you have submitted the data.

We believe this continued collaboration will help us understand pension administration issues from both sides.

Enhancing service and support to employers - outreach meetings this fall

Angela Goodchild and Sandy Cook will reach out to a small group of employers to plan an outreach meeting to take place this fall. During these meetings, we will be seeking your feedback on the timeliness and accuracy of the services that we provide to both you and your members.

Changes coming to Annual Statements

We are making changes to member’s annual statements to ensure DBplus and DBprime members can all benefit from this valuable planning tool.

The next Annual Statement in spring of 2020 will have:

  • A new and simplified design that makes the statement easier to read.
  • A graph that shows the increase in the pension from the last statement (for all members with more than one year of membership).
  • The summary of the total lifetime pension from DBprime and DBplus (if applicable). Members who have built a pension in DBprime, DBplus (or both), will see the contributions they’ve made in each plan design, and the pension calculation.

The September member newsletter will introduce the statement improvements to members. More communication will follow later in the year and early next year.

Employers will get a chance to see the new statement templates in more detail later this fall.

Member Presentations – book a session for the fall!

This fall, we will be holding two series of webinars: Retirement Planning and DBplus Pension Purchases.

To accommodate all members, English and French webinars will be held at various times of the day, so attendees can choose a time that works best for them. Invitations for the webinars will be sent in early September. The registration links will also be available in the September member newsletter and on the CAAT website.

Members are invited to attend a regional retirement planning event scheduled for a Saturday in November at George Brown College. Invitations will be sent out a few weeks in advance.

Book a presentation at your workplace!

If you’re interested in organizing an onsite presentation for your employees, or if you’d like to host a regional session, contact Sylvia Golebiowski at presentations@caatpension.on.ca.

Upcoming events

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

October 3 - Employer Education Session

Pension purchases

November 7 - Employer Education Session 

Pensionable earnings, service, contributions and pension adjustments

Invitations for these sessions will be sent out approximately 2 weeks before the session

Service Standard Levels

For the month of August 2019

Event Quantity Service standard compliance
Enrolments 366 processed 100%
Retirements 93 options provided
58 elections processed
Pension Estimates

90 estimates provided

Terminations 55 notifications of extension of membership (EOM)
121 termination option documents
48 elections processed

Service & Pension Purchases 41 quotes provided 100%