In this edition
CAAT’s Year in Review
Putting better pensions on the map
In 2022, CAAT welcomed new members and employers from across Canada.
Read our highlights to see how CAAT continues to give our employers a competitive edge in the marathon for talent.
2022 Year in Review
2025 plan changes will increase pension value
Thanks to its prudent, long-term approach to managing funding, CAAT remains in a strong position at 124% funded and has moved into Level 5 of the Funding Policy, as of January 1, 2023.
This means that conditional benefits such as inflation protection increases have been granted through to 2026. And the Plan’s Governors have also approved valuable changes to both DBprime and DBplus, starting January 1, 2025.
Learn more
To learn about these changes, the 2022 valuation, and CAAT’s Funding Policy, visit these webpages:
Keep an eye out for the Spring member learning series!
We’ll be kicking off our Spring learning series for all active members in the coming weeks. These presentations give your employees the opportunity to ask questions and learn about their CAAT pension. They’re perfect for new members who want to know why the defined benefit pension you offer is a big deal.
Encourage your members to sign up for an upcoming session directly on the CAAT Pension Plan website:
Register now
Book a customized session for your members today
In addition, we continue to receive requests from employers and are booking customized sessions covering the following topics:
- A future you can count on: Your CAAT Pension
- Retirement planning
- DBprime pension purchases
- DBplus pension purchases
Members can always learn more about what their CAAT pension provides – the more they know, the more they will value their defined benefit pension.
Contact CAAT directly to book your own learning session for your employees today by emailing your request to:
Presentations
Upcoming events
Mark your calendar for these events. We send invitations straight to your inbox two weeks prior to the event and registration is available on our website.
Pensions for Everyone Conference 2023 – CAAT’s Annual Performance Update (May 11 – 11:00am EDT - 12:45pm EDT)
Register for the Employer Breakout Session
Discover new tools and resources to recruit, engage, and demonstrate the value of a defined benefit pension plan to employees.
Register here
Employer Update webinar (June 28)
Employer Education Session – Plan Enrolment and Eligibility (July 13)
Updates and reminders
Thank you for completing the 2022 attestation
We have received 2022 employer attestations from all employers required to complete them. Thank you for completing your attestation and helping the Plan manage operational risk through the attestation process.
Annual statement processing update
We have started processing 2022 annual statements for active and retired members, as well as former members with a deferred pension, and those within the Extension of Membership period. We aim to send 95% of them to members by May 31. We'll keep you updated as we work towards our goal.
Employers working directly with CAAT:
- Active members: The first statements were released in late February this year and we are on track to have 95% completed by the end of May, with 100% sent to members by June 30.
- Retired members: Statements are being sent out in batches each week in April and will be 100% complete by April 30.
- Deferred members: Statements will be sent out by May 31.
- Extension of Membership (EOM): Statements will be sent out by June 30.
Employers working with CAAT administration partners:
- All statements are on track and will be processed by May 31.
Submit your June 30 retirement applications
Early summer is a popular time for retirements, and we encourage you to submit your retirement applications for any June 30 retirements as soon as possible.
If a retiring member wants to make a pension purchase, please let them know that their purchase payment should be completed at least two months before their retirement date to avoid their first pension payment being delayed.
Submit non-contributing member data by May 31
Please read if you are an Ontario college employer:
This is a reminder that any member who has not contributed to the Plan for a period of 12 months or more must be reported to the Plan as a terminated member. Please report any members who have not contributed since June 1, 2022.
If you have fewer than 25 non-contributing members, report them via PAL. If you have more than 25 non-contributing members, report them via this spreadsheet.
We’re working on a better Employer Manual just for you
Last year, we started a project to redesign the Employer Manual. We took the feedback we received from you to update this valuable resource, to make it easier to use and give you a better way to find the information you need to administer the Plan.
Development is in progress, and we will provide more updates on the status of this project in the coming months.
What’s new in PAL
Read this if… you are an employer who works directly with CAAT
Monthly Contribution Remittance Forms in PAL
We will be rolling out the new process for entering your monthly contribution remittance information directly in Pension Administration Link (PAL). Stay tuned for further communications from us on this new PAL functionality.
Get the highlights about the latest features and enhancements to PAL. Connect with us if you have questions or experience any issues.
Sign in
Planned Outages for PAL in 2023
PAL will be unavailable from 5 PM to 10 PM on these dates while we undergo planned maintenance:
Wednesday April 26
Wednesday May 24
Wednesday June 21
Wednesday July 19
Wednesday August 16
Wednesday September 13
Wednesday October 11
Wednesday November 8
Wednesday December 6
We want to hear from you
Have a question, comment, or suggestion for us about PAL? Let us know. Your feedback is important to us. Over the course of the next year, we’re planning on adding more exciting features to improve PAL functionality. It’s an innovative platform that continues to expand and put information into a single, unified experience for you. Reach out to your Employer Pension Analyst to share your thoughts at any time.
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