Community Living Toronto voting to join the Plan
Community Living Toronto has entered into an agreement to merge its pension plans with the CAAT Pension Plan. As with previous mergers of this type, active members of the Community Living Toronto pension plans must consent to the merger through a voting process, with unionized members being represented by their local CUPE 2191. This process concludes on September 30, 2019. If the merger proceeds, employees will start contributing to and earning a benefit under the CAAT Pension Plan as of October 1, 2019. The assets of approximately $100 million from the Community Living Toronto’s existing defined benefit plans would be transferred and benefits will be replicated under the CAAT Pension Plan after approval from the Financial Services Regulatory Authority of Ontario.