The Conference Board of Canada’s 150 group plan members are joining the College of Applied Arts and Technology’s defined benefit pension plan.
Effective June 1, The Conference Board will be the latest non-profit organization to join the CAAT’s DBplus plan. Other non-profits that joined the plan recently include: St. John Ambulance, the Northwest Community Legal Clinic, the United Way of Greater Toronto and the Vancouver Foundation.
“I am tremendously excited for our organization to join the CAAT Pension Plan through DBplus. We know from our research that Canadians don’t save enough for retirement, and that professional pension management yields big benefits,” said Dr. Susan Black, the non-profit’s chief executive officer, in a press release. “As part of our commitment to invest in our talent, it made sense to transition to a new retirement plan that better supports the long-term financial security of our employees.”
The plan has $15.8 billion in assets and last year earned an 11.1 per cent rate of return net of investment management fees. The 2020 investment return brings the annualized 10-year net rate of return to 9.9 per cent.