The Mohawk College Foundation is the latest employer to join the Colleges of Applied Arts and Technology pension plan’s DBplus.
Prior to the move, which took effect Aug. 1, 2020, foundation employees contributed to a group registered retirement savings plan. On an individual basis, they’re now eligible to transfer their group RRSP balances into DBplus.
They join their academic, support and administrative colleagues on the campuses of Mohawk College as members of the plan.
Since its introduction in 2018, more than 15,000 members have joined DBplus, according to a press release, including employees from Brink’s Canada Ltd., Postmedia Network Inc., Saint John Airport and the United Way Greater Toronto.
“We are pleased to be joining the CAAT DBplus plan,” said Ron McKerlie, president of the Mohawk College Foundation, in a press release. “This move allows us to improve the benefits we offer to Mohawk College Foundation employees, helping ensure long-term, sustainable and secure retirement savings.”