ACE Help - Step 1

IMPORTANT!

The Actuarial Cost Estimator was developed to provide members of the CAAT Pension Plan with basic service purchase estimates only. Results are displayed as a cost range, based on information provided by you, and are neither reviewed nor verified by the CAAT Pension Plan. These estimates are not binding on the CAAT Pension Plan.

The final cost of any service purchase can only be calculated by the CAAT Plan at the time of the official request. It will be calculated based on the information provided by you, your former non-CAAT employer’s pension plan or the CAAT employer with which you worked prior to joining the Plan and your current employer as of the date of request.

If you are a participant in the CAAT RCA and are interested in exploring the possibility of making a purchase or a transfer above the ITA maximum into the CAAT RCA, please have your HR department contact the CAAT Pension Plan for a quote. Your employer, who must pay for at least half of the purchase cost under income tax law (with you paying the balance), must agree to the purchase. If you have accrued benefits in respect of a previous employer's retirement compensation arrangement, it may be possible to have such credits and assets transferred into the CAAT RCA directly.

INPUTS

Your name

Your name is optional and is not saved or sent to the CAAT Pension Plan or your employer. Include it if you will be printing your results on a shared printer, to make sure you receive the correct copy.

Your age

We use your age to estimate the cost of the service purchase. Generally, the older you are, the more the past service purchase will cost.

This estimator assumes that you are between the ages of 19 and 71 years old.

Your annual salary rate

Enter your expected total annual earnings for the current year. The cost of your purchase takes into consideration your earnings at the time of the purchase.

If you have been employed full-time for less than one year, enter your annual salary rate.

Your current pensionable service

Pensionable service is the total years of service in the CAAT Pension Plan, including purchased service.

Enter your total pensionable service in the CAAT Plan to the end of the current year, rounded up to the next whole number. For instance, if you have 4 years and 5 months of service, enter 5 years.

If you have not yet joined the Plan, or have less than one month of service, enter 0.

The Actuarial Cost Estimator will project your pensionable service based on your status as a full-time employee. It assumes you will earn one year of pensionable service for each calendar year until your retirement date.

Your earnings will be annualized based on the percentage of full time hours that you entered.