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Currently offering a defined benefit (DB) pension plan

If your organization currently offers one or more DB pension plans, there are two options for joining CAAT:

1. Outsourced pension management (merging existing DB plan(s) with CAAT)

Join DBplus going forward and pursue an agreement with CAAT and regulatory approval to merge the prior DB plan(s) with CAAT, in which case CAAT would assume responsibility for past liabilities, governance, risk and investment management, and all administration.

Contact us for more information about the process.

2. Joint pension management (maintain existing DB plan(s) and join CAAT going forward)

Join DBplus going forward in respect of some or all employee groups and keep the existing DB plan in place, as either a closed plan, to only pay out past benefits, or an open plan if some employee groups will continue to participate in it.

Following approval of the employer’s application, employees would build DBplus pensions from the point they are enrolled and contributions begin. At retirement, termination, or death members would receive their benefit entitlements from DBplus and from the prior DB plan.

1. Contact us for information

CAAT answers your questions about the plan design and easy steps to joining. You only need to consider two options: when to start contributing, and how much you want to pay. If your organization is interested in proceeding to the next step, a non-disclosure agreement is signed by CAAT and the prospective employer or group and non-identifying employee data is supplied to CAAT for preliminary analysis.

2. Document the details

Review and document the details in a Participation Agreement and New Employer Application, subject to due diligence activities. For CAAT, this includes a detailed demographic analysis and risk assessments. Alignment of key stakeholders is confirmed in a Participation Agreement that forms part of the employer’s application to join the Plan. The Participation Agreement is signed following approval by CAAT Plan governors.

3. Confirm support for participation

CAAT can help inform employees, including holding information sessions and providing website tools and a helpline.

4. Onboarding and collaborative administration

Employees enrol in DBplus and contributions begin. Employer notifies CAAT of standard HR events such as enrolments, terminations, retirements, leaves. CAAT administers DBplus entitlements such as paying pensions, sending annual pension statements and option documents at termination and retirement.

We are leaders in pension plan mergers

CAAT is a leader in pension plan mergers, having completed the first merger of a single- employer plan with a jointly sponsored pension plan in Ontario as well as the merger with the largest asset transfer in the province. The Plan’s success with mergers includes large and small plans in the broader public and private sectors.
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Interested in bringing DBplus to your workplace?