While McGill University has factored decumulation into its pension plan for decades, the plan sponsor is continually fine tuning these strategies for members, said John D’Agata, the university’s director of pension and benefits, during a session at Benefits Canada‘s 2023 DC Plan Summit. McGill’s pension plan has more than $1.5 billion in assets and more than 9,500 […]
Defined benefit. Defined contribution. Target benefit. Shared risk. Collective. Multi-employer. Pooled. Canada’s pension and retirement landscape is littered with lingo that can often be confusing for the people who participate in these plans and count on them for their retirement income. As pension plans evolve and the terms describing them expand, does the industry have […]
The Colleges of Applied Arts and Technology pension plan is increasing the pension factor used in its calculation of defined benefit payments from its DBplus plan. For pensions earned after Jan. 1, 2025, members of the jointly sponsored pension plan will see annual payouts increase from 8.5 per cent of their total contributions per annum […]
To bolster Alaska’s public sector, a bipartisan effort is underway to relaunch the state’s pensions as defined benefit plans. “I’m carrying this bill on behalf of thousands of state employees who have worked for more than a decade to refine it,” said Cathy Giessel, leader of the state senate’s Republican majority during her introduction of […]
The College of Family Physicians of Canada pension plan is joining the Colleges of Applied Arts and Technology pension plan’s DBplus. “As a result of merging our plan with CAAT, we will be able to provide all of our employees with a defined benefit pension for life with a number of features including inflation protection […]
Employees of the City of Whitehorse represented by the Yukon Employees’ Union and N.W.T.-based Collège nordique francophone are joining the Colleges of Applied Arts and Technology pension plan’s DBplus arrangement. The two employers are among a number of organizations that have recently joined the CAAT’s plan, including the Canadian Coalition for Good Governance, the Saskatchewan College […]
Few people have as clear a perspective on the differences between public sector defined benefit pension plans in Canada and the U.S. as Paul Matson. “I know the Canadian system,” said the executive director of the Arizona State Retirement System, during a session at the Canadian Investment Review‘s 2022 Investment Innovation Conference. “Before [the Alberta Investment […]
The Canadian Coalition for Good Governance is joining the Colleges of Applied Arts and Technology pension plan’s DBplus arrangement. “Our participation in a [defined benefit] plan speaks to our beliefs and values as an organization and demonstrates our commitment to our employees,” said Catherine McCall, executive director of the CCGG, in a press release. “We […]
The Saskatchewan College of Pharmacy Professionals is joining the Colleges of Applied Arts and Technology pension plan’s DBplus arrangement. “I did a lot of research with respect to plan options for our staff and felt that [the] CAAT had the best offering as it was flexible, affordable and offered a great opportunity to support them […]
Members of the New Brunswick Public Service Pension Plan are receiving a cost-of-living adjustment that doesn’t cover increases in the cost of living in Canada. According to a press release, the $6.6 billion hybrid pension plan’s board of trustees voted to award its 40,000 members with a 5.24 per cent COLA, set to begin on […]