Scott Anderson – Benefits Canada.com

Three tips for a healthy group retirement plan

mschmit — Tue, 22 Jan 2019 05:20:19 +0000

Since plan administrators and sponsors aren’t generally pension or group retirement specialists, they depend on information from consultants and record keepers to determine the choices they’re going to make within a group retirement plan. They’re also inundated by outside information regarding what actions to take within the plan. All of this information can be overwhelming, so here are three […]

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The real reason some staff don’t contribute to workplace savings plans

mschmit — Tue, 16 Oct 2018 04:30:02 +0000

Take the free money. This is my regular mantra for employees in employer-sponsored retirement plans. But many employees don’t enrol in company-sponsored plans or don’t take the maximum amount of free money available. When human resources professionals ask their employees why, their responses include: “I get a better return with my advisor, so I am contributing with her/him.” “The investment […]

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A look at three trends in pension plan design

mschmit — Tue, 03 Jul 2018 04:30:22 +0000

Plan sponsors often say they’re quite happy with their retirement savings plans. But is that position good enough to ensure an organization’s plan is competitive and benefits its plan members? Some of the trends across Canada, as evident from employee requests, reflect the changing needs of the workplace. They include: Group RRSPs or TFSAs with a […]

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Consistent communication key to mitigating member panic amid market volatility

mschmit — Mon, 19 Mar 2018 12:00:45 +0000

With markets showing signs of potential extreme volatility in recent weeks, how can employers address the many questions that arise from pension plan members? When speaking to members, consultants usually emphasize advice on asset allocation based on age and risk tolerance. Many members aren’t honest in their responses, often overstating their tolerance for risk because markets are typically on the rise. […]

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Why more group retirement plans are including passive investments

mschmit — Mon, 20 Nov 2017 12:12:23 +0000

It’s no secret that passive investments, such as exchange-traded and indexed funds, have become more popular with investors over the past 10 years. Such funds require very little to no intervention by investment managers and, therefore, have much lower management fees than the classic mutual fund structure. Read: Continued growth predicted as ETF industry tops $100 billion […]

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How employers can benefit from the trend towards delayed retirement

mschmit — Mon, 24 Jul 2017 03:00:14 +0000

The demise of many defined benefit pension plans, increased debt levels in retirement and lower savings levels have all contributed to the prevalence of employees working past age 65. However, there’s an often-forgotten factor: many of those Canadians are choosing to work longer because they want to. For those Canadians who do opt for semi-retirement, […]

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The benefits and drawbacks of offering a unitized stock fund

mschmit — Tue, 04 Apr 2017 05:17:14 +0000

Many publicly traded companies give employees the opportunity to own shares in the company they work for. Traditionally, that happens through an employee share plan where employees directly purchase their company’s stock, as provided to employees at Starbucks Corp. and WestJet Airlines Ltd., for example. Ownership is beneficial to both the employer and the employee for […]

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The employer’s role in addressing the psychological roots of overspending

mschmit — Mon, 19 Dec 2016 05:22:12 +0000

We’ve all heard over and over again that Canadians spend more than they earn, a trend that has been around for a couple of generations. I’m not referring to people who don’t make enough for a decent living but to those who earn plenty but still spend beyond their means. What are the real reasons […]

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The pros and cons of employee share purchase plans

mschmit — Wed, 15 Jun 2016 04:52:20 +0000

Many companies – including Great-West Life, Starbucks and WestJet – offer employee share purchase plans to employees with the expectation of employee retention and entrepreneurial thinking. You may be asking yourself: “What are employee share purchase plans? And do they create the desired results for employers?” What is an ESPP? A compensation plan typically designed to provide employees with a […]

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3 ways to engage younger employees in group retirement

mschmit — Thu, 07 Apr 2016 05:29:41 +0000

Time and again we hear employers say the reason they provide a group retirement plan is to attract and retain quality employees, while younger employees say they are looking for a benefit plan that includes group retirement when choosing an employer. But when we look at the activity statistics of group retirement plans, we see that fewer than […]

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