The National Association of Federal Retirees and the United Way Centraide North East Ontario/Nord-est de l’Ontario are the latest employers to join the Colleges of Applied Arts and Technology pension plan’s DBplus.
The National Association of Federal Retirees, which represents nearly 18,000 members from a variety of pension plans, joined DBplus as of Oct. 22.
“It is only fitting that the employees of the National Association of Federal Retirees, who work so diligently to protect the defined benefit pension plans of all our members, should benefit themselves from the lifetime security of a defined benefit pension plan,” said Jean-Guy Soulière, president of the association, in a press release.
Prior to joining DBplus on Oct. 1, the United Way Centraide North East Ontario/Nord-est de l’Ontario’s employees participated in a group registered retirement savings plan. According to a press release, the organization was attracted to DBplus’ plan design for its flexibility and extra benefits like inflation protection, early retirement features and survivor benefits.
“The CAAT pension plan was a perfect fit for our organization,” said Mary Lou Hussak, executive director at UWCNEO, in a press release. “By joining DBplus, staff members are able to plan for a better retirement future while focusing on delivering quality programs and services for those who need it now.”
Since the DBplus was launched in 2019, it has welcomed more than 200 employers across 11 industries. As of Jan. 1, 2021, the CAAT pension plan had $15.8 billion in assets and earned an 11.1 per cent rate of return in 2020.