News

Member Annual Statements – mailing to be completed by August 31 

The majority of active member statements were mailed by June 30. A small number required additional review to ensure accuracy. We will mail statements to members in batches as these reviews are completed. We expect to have all reviews and statements complete by August 31.

If members ask about the status of their statement, let them know that they should receive their statement by the end of August. Employers will receive their copies of statements and statement data, including HAPE information, in September.

We value your opinion - Employer survey coming soon Keep an eye on your inbox!

This month, you will receive an email with a link and passcode to this year’s Employer survey. We care about what you think. Please take the time to complete the survey.

Portal update: communicating to members

As we get closer to launching the new member and employer portals, we will begin communicating with members about the exciting new resource that will provide them with a secure location to stay up-to-date on their pension, get estimates, and initiate certain transactions.

Early next year, members who will have access to the portal will receive a letter mailed to their home address with the information they need to activate their portal account. Shortly after, we will follow up with members to encourage them to use the portal to access their statements, rather than receiving a paper copy.

Updates and activities at the end of the year

You are a critical partner in providing information about the portals to our members. While we will update members using our website and newsletters, we will be asking employers, including those with direct to member services, to email all their staff that are CAAT Plan members about the portal later this year. We’ll provide more information about this, including sample emails, later this year. We appreciate your support in communicating to our members about this valuable new resource.

Updated Change of Employment form

The Change of Employment form has been updated to include a field for jurisdiction of employment. Please provide any changes to a member’s jurisdiction of employment using the updated form, available on the Employer Manual.

Ontario College sector employers only: Annual EOM and termination project - Update on missing termination notices

The EOM and termination project is an annual project. DCT reporting identifies members who did not contribute to the Plan in the reporting year. These members are reported as non-contributory (NC). We have received 455 terminations and 234 retirements to date. If you have outstanding NC notices, please provide them to your employer PA as soon as possible. The target completion for this annual project is October 31, 2020. For more information on the Annual EOM and termination project, please refer to the July Employer News.

Reminder: Confirm members receiving disability benefits by August 31

Employers should have received their Q2 quarterly report by the end of July which lists EOM, deferred and other than regular full-time members, as well as those receiving long-term disability (LTD) or workers’ compensation benefits.

Please review the report and confirm with your employer PA through email that the listed members are receiving LTD or workers’ compensation benefits. The deadline to confirm and submit any additions or changes (using the LTD forms) is August 31, 2020.

84% of pension payment confirmations received – follow-up letters have been sent

On August 7, follow-up letters were mailed to retired members and surviving spouses who had not yet returned their pension payment confirmations.

Please direct any retired members or surviving spouses who have questions about their letter to our member services hotline, toll-free at 1.866.350.2228, or in Toronto at 416.673.9000.

2019 DCT contribution reconciliations being processed this month

Our Finance team will begin sending out reports in August. Once you have reviewed your report, if there is an outstanding balance, please speak to the CAAT Finance team to arrange payment. If there is an overpayment, please take a credit on your next remittance.

Now booking member webinars for the fall

To arrange a webinar for your members, contact presentations@caatpension.on.ca with your preferred date so we can secure it for you. We will also be offering a series of webinars to all members this fall, so keep an eye on your inbox to register.

Upcoming events

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

Week of August 24—Employer survey

October 1—Employer education session—Employer manual

November 5—Employer education session—Pensionable earnings, contributions and pension adjustments

November 24—Employer update Coming in November—Portal training Invitations for the webinars will be sent out approximately two weeks in advance.