In this edition: My Pension is live, Thank you for using PAL, 2021 Annual DCT, Employer attestation update, 2020 forms required for LTD/WSIB Pension Adjustments, Book a member webinar, Calendar of events.
My Pension is now live
For employers whose members have access to My Pension
Since My Pension launched on January 25, we’ve received an impressive response. With over 9,000 members registering and completing over 11,000 updates and transactions, members are eager to access their pension information on My Pension.
With My Pension, your members now have all the tools and information that they need at their fingertips. We’ve designed it to make it easier for members to:
- Update their personal information
- Send and receive pension documents
- Get a pension estimate
On February 12, CAAT mailed the last group of registration packages to members. By now, most members who have access to the portal should have received a registration letter letting them know they can sign up.
If your members have access to My Pension
Thank you for endorsing the use of My Pension to your members. Your encouragement for members to use the portal helps in assisting with its adoption, and provides members with more opportunities to effectively access and manage their pension details. As a result, members will value their pension more. If you did not receive the pass-along email to send to your members, please contact your PA.
If your members have not received their registration letter or need assistance with My Pension, please advise them to call the member hotline for help.
Thank you for using Pension Administration Link (PAL)
For employers who have access to PAL
Over the last month, more than 190 users have logged into PAL, and more than 400 transactions have already been processed from 34 employers. Thank you to those who logged in to use and explore the new tool.
Your feedback is important to us so please let us know about our experience using PAL. Remember, your Employer PA is only a call away to help guide you through the portal and answer any questions you may have.
2021 Annual data collection – due March 15
CAAT’s Data Collection Tool (DCT) is now open for employers who use the annual data submission process. The DCT deadline is fast approaching, so ensure to send your data as soon as it is ready.
Please review and submit your data by Monday, March 15 at the latest.
Your Employer PA is here to help if you have any questions or need assistance. Thank you to employers who have already submitted their DCT.
If you provide your data on a schedule other than annual, the DCT will not apply to you.
Employer attestations are 49% complete
In January, we reached out to you to complete the 2020 Employer Attestation of Administrative Compliance. This is an important part of ensuring that CAAT pension plan is administered in compliance with the Plan requirements. To date, we have already received half of the employer attestations. Thank you for sending the completed form to the Plan.
Please return your completed attestations by March 31, 2021.
If you have any questions on the attestation, please contact Sandy Cook at email@example.com.
Reminder: 2020 forms required for Pension Adjustments for members on LTD/WSIB
CAAT will be issuing and reporting T4As with Pension Adjustments for members on LTD in 2020 by February 28, 2021.
Please make sure to send forms to the Plan for any LTD/WSIB leaves that started or ended in 2020 to ensure timely Pension Adjustments for the member.
We are booking webinars for 2021!
Give your members the opportunity to learn and value their pension through webinars on a variety of topics:
- Plan overview
- Retirement planning
- Introduction to DBplus
- Pension purchases
To arrange a webinar for your employees, contact firstname.lastname@example.org with your preferred date so we can secure it for you.
Block your calendar for the upcoming events.
- February 23 – Employer Update
- March 15 – DCT submissions due (for employers who provide their data on an annual schedule)
- March 31 – Signed employer attestations due
- April 8 – Employer Education Session – Annual Statement Overview
- April 20 – Employer Update
- May 6 – Employer Education Session – In-Year Reporting – Terminations, Retirements and Deaths
You will receive an invitation for any webinars approximately two weeks in advance.