When Kristy Dickinson’s health took a turn eight years ago and she was diagnosed with a rare and complex disease, she stepped away from her role in recruitment. Managing her chronic illness — from the appointments with her specialist, the information-gathering and sharing across three hospital jurisdictions and the medications and expenses — was too […]
Employers, employees and benefits advisors alike have long struggled with the inefficient and largely paper-based approach to administrating benefits. Advisors face long wait times for quotes, employers face the annoyance of a slow onboarding process that prevents employees from accessing their benefits immediately after enrolment and employees can have difficulty submitting claims and face confusion […]
Yale University and some of its employees have settled a class-action lawsuit over the university’s employee wellness program for US$1.29 million net of lawyers’ fees. The Healthy Expectations Program required its 5,000 unionized staff and their spouses to pay US$25 for every week they declined to participate in the program, for a total penalty of […]
It took an “intense, painful and scary” flare and emergency surgery at age 38 for Marie-Josée Lafleur (pictured right) to finally be diagnosed with inflammatory bowel disease, after being misdiagnosed for 15 years. IBD, which is typically diagnosed between ages 16 and 30, is caused by the body’s immune system attacking the gastrointestinal tract, creating […]
Women who develop inflammatory arthritis or psoriasis often do so in the prime of their lives, leaving them with concerns related to their reproductive and sexual health. But they struggle to find support in their employer-sponsored benefits plans. “We know that diversity, equity and inclusion are a really big piece of [human resources] these days,” […]
Canadian Forest Products Ltd.’s new financial wellness program may have originated as the brainchild of its defined contribution pension plan committee, but it’s just as applicable to its defined benefit plan members — and the organization chose to roll it out for all employees. When you have broad financial wellness topics, it’s fine, but when […]
Defined contribution plan sponsors must carefully consider diversification and risk as they evaluate their target-date fund strategy to ensure it’s meeting the needs of members. But while these terms are commonly used in the industry, they can take on different meanings when it comes to target-date funds, said Ruthann Pritchard, institutional portfolio manager of global […]
While target-date funds have traditionally been a one-sized-fits-almost-all solution, innovation to integrate environmental, social and governance-oriented strategies into these funds is coming just as plan members are seeking more sustainable investing options. “The vast majority of Canadians say ESG integration is important in their investing,” said Wylie Tollette, executive vice-president and head of client investment […]
Defined contribution plan sponsors are facing much more challenging market conditions heading into 2022, with lower expected returns across core asset classes and high levels of uncertainty around the pandemic, rising inflation and other market factors. “This is truly an exceptionally difficult environment to navigate,” said Som Priestly, multi-asset solutions strategist at T. Rowe Price, […]
Alternative assets have long been the domain of institutional investors seeking to increase their risk-adjusted returns, but defined contribution plan sponsors now have the opportunity to access these assets in the form of liquid alternatives in their target-date fund offerings. Over the last five years, the expected returns of traditional balanced portfolios in target-date funds […]