Defined contribution plan members are contending with volatile equity markets, ultra-low interest rates and the threat of inflation as the country’s economy begins its tentative recovery. In the first half of 2020, equities took an almost round trip, dropping significantly in the first quarter and recovering to the point that most markets are in neutral or positive […]
While it’s likely a small mercy that defined contribution plan members, by and large, didn’t have knee-jerk reactions to recent market turbulence, plan sponsors have been rather quiet as well. Much of this is related to the reality that the people who typically deal with small to mid-size DC plans at their organization are busy with other […]
Health and productivity is affected by a lack of access to care, according to Dr. Hanif Jamal, Canadian medical director at Teledoc Health, during a webinar hosted by Benefits Canada. Referring to a recent survey by the Canadian Medical Association, he noted 73 per cent of Canadians said they believe virtual care will improve access, followed by more […]
On May 21, Benefits Canada hosted a webinar to explore the coronavirus pandemic’s impact on chronic disease in the workplace, as well as how virtual solutions can support employee health through this unprecedented time. All employers are currently facing the same concerns, said Marie-Josée Le Blanc, a partner at Mercer, during the webinar. Pointing to the 2019 […]
Once again, we’re experiencing volatile markets. During these times, it’s common to hear the following statements: It isn’t time to panic. This has happened before. Make sure the pension plan’s asset mix is correct. While these messages may be good advice for individual investors, defined contribution plan sponsors should be considering how to help their employees. Here are […]
Historically, Epcor Utilities Inc. provided employees with $1,000 in annual coverage for each paramedical service, ranging from massage therapists, physiotherapists and chiropractors to speech therapists, naturopaths and dieticians. But in 2018, the Edmonton-based utilities company looked at its annual paramedical costs and found its massage therapy spend had ballooned to nearly match the cost of […]
As social media becomes increasingly pervasive, employers should consider adding the tool to their communications arsenal. Indeed, David McArthur, principal and creative director at Morello Communications Inc., says it’s too big a phenomenon for plan sponsors to ignore. “It’s something we’re certainly seeing a lot more of,” notes Cameron McNeill, senior vice-president and Canadian business […]
Defined contribution plan sponsors have to stay aware of plan design developments to improve their benefits offerings for their specific workforces, according to a new report by Callan. As workplace demographics shift, it’s important for plan sponsors to make sure their DC plan features are keeping up with those changes to ensure the benefits they’re providing are most effective […]
Canadians looking to replace their working income with benefits from capital accumulations plans and the government are facing a grim reality. Indeed, pre-retirement income replacement from those two sources sits at 55 per cent for Canadian women and 57 per cent for men, according to Eckler Ltd. income tracker. Worsening the situation, returns from equity and […]
A new report looking at four U.S. states that moved new employees from defined benefit to defined contribution or cash balance pension plans found the changes resulted in higher taxpayer costs and no meaningful improvements to the plans’ funding and liabilities. The report, by the National Institute on Retirement Security, looked at Alaska, Kentucky, Michigan and West Virginia — […]