your merged plan
November 2024
CAAT Pension Plan Members from The Manitoba Teachers’ Society Staff Pension Plan (“MTS Staff Pension Plan”)
The assets have transferred from The Manitoba Teachers’ Society Staff Pension Plan (Registration Number 0270256) (the “MTS Staff Pension Plan”) to the CAAT Pension Plan. The Office of the Superintendent – Pension Commission (the “Manitoba Superintendent”) consented to the transfer of assets from the MTS Staff Pension Plan to the CAAT Pension Plan. The assets, totaling approximately $16.8M, were transferred to CAAT on November 8, 2024.
With the transfer of assets, the CAAT Pension Plan assumes responsibility for all defined benefit pension payments to members of the MTS Staff Pension Plan.
Members of the MTS Staff Pension Plan should have received a communication with further details about their pension now that the assets have been transferred.
Members of the MTS Staff Pension Plan started contributing to and earning a pension under CAAT’s DBplus Plan design effective January 1, 2024 (“effective date”).
CAAT filed applications with the Manitoba Superintendent on May 3, 2024 for its consent to transfer assets from the MTS Staff Pension Plan to the CAAT Pension Plan.
On August 6, 2024, the Manitoba Superintendent provided consent to transfer the assets from the MTS Staff Pension Plan to the CAAT Pension Plan.
Effective January 1, 2024, you and your employer started making contributions to DBplus based on a percentage of your eligible earnings indicated in the table below:
Manitoba Teachers’ Society member services at the CAAT Pension Plan Phone: 1-800-210-7806 Email: caat.mts@mercer.com
The total combined retirement pension for active members in the MTS Staff Pension Plan will be made up of two parts:
MTS Staff Pension Plan past pension + CAAT pension = Total annual pension payable from the CAAT Pension Plan
Your DBplus pension, once in pay, will continue to grow with annual conditional inflation protection increases at a rate of 75% of the year-over-year percent increase in the Consumer Price Index (“CPI”) (up to a maximum increase of 8% with a carry forward provision for any amount above 8% in a given year), beginning January 1, 2025 (or from your pension commencement date, if later). These increases will allow your pension to continue to grow with the economy, maintaining your spending power in retirement. Inflation protection increases are conditional on the CAAT Pension Plan Funding Policy.