During a panel discussion at the Canadian Investment Review’s 2024 Global Investment Conference in April, three pension plan sponsors shared their perspective on plan design and the changing patterns for employees close to retirement. Nearly a decade ago, Via Rail Canada Inc. began allowing payments of lump sums to individuals up to age 65 to […]
During a panel discussion at Benefits Canada’s 2024 Defined Contribution Plan Summit in February, three defined contribution plan sponsors shared their respective decumulation journeys and their thoughts on where the DC plan sector is in terms of effectively supporting this particular phase of plan members’ lives. At ATCO Ltd., roughly 5,500 employees are enrolled across […]
While U.S. auto workers would like to see their pension plans converted from defined contribution to defined benefit, it may be more challenging than it was for their Canadian colleagues. The recent contract agreements for Unifor members at Ford of Canada and General Motors will see DC plan members move into the Colleges of Applied […]
While McGill University has factored decumulation into its pension plan for decades, the plan sponsor is continually fine tuning these strategies for members, said John D’Agata, the university’s director of pension and benefits, during a session at Benefits Canada‘s 2023 DC Plan Summit. McGill’s pension plan has more than $1.5 billion in assets and more than 9,500 […]
Defined benefit. Defined contribution. Target benefit. Shared risk. Collective. Multi-employer. Pooled. Canada’s pension and retirement landscape is littered with lingo that can often be confusing for the people who participate in these plans and count on them for their retirement income. As pension plans evolve and the terms describing them expand, does the industry have […]
The Colleges of Applied Arts and Technology pension plan is increasing the pension factor used in its calculation of defined benefit payments from its DBplus plan. For pensions earned after Jan. 1, 2025, members of the jointly sponsored pension plan will see annual payouts increase from 8.5 per cent of their total contributions per annum […]
To bolster Alaska’s public sector, a bipartisan effort is underway to relaunch the state’s pensions as defined benefit plans. “I’m carrying this bill on behalf of thousands of state employees who have worked for more than a decade to refine it,” said Cathy Giessel, leader of the state senate’s Republican majority during her introduction of […]
The College of Family Physicians of Canada pension plan is joining the Colleges of Applied Arts and Technology pension plan’s DBplus. “As a result of merging our plan with CAAT, we will be able to provide all of our employees with a defined benefit pension for life with a number of features including inflation protection […]
Employees of the City of Whitehorse represented by the Yukon Employees’ Union and N.W.T.-based Collège nordique francophone are joining the Colleges of Applied Arts and Technology pension plan’s DBplus arrangement. The two employers are among a number of organizations that have recently joined the CAAT’s plan, including the Canadian Coalition for Good Governance, the Saskatchewan College […]
Few people have as clear a perspective on the differences between public sector defined benefit pension plans in Canada and the U.S. as Paul Matson. “I know the Canadian system,” said the executive director of the Arizona State Retirement System, during a session at the Canadian Investment Review‘s 2022 Investment Innovation Conference. “Before [the Alberta Investment […]