In this edition:

• CAAT's 2020 Year in Review, Annual Statement update, June 30 retirement, Annual EOM and termination project, Member webinars, Calendar of events, Enhancing the monthly Employer News

Strong, Secure and Sustainable: the CAAT 2020 Year in Review and Annual Report now available

Learn how CAAT is keeping pensions secure, despite a year like no other.

CAAT was well positioned entering the pandemic and continues to grow stronger. The 2020 Year in Review highlights how long-term planning and a dedicated team contributed to:

• 119% funding status
• $3.3 billion in funding reserves
• $15.8 billion in net assets

Explore the 2020 Year in Review and Annual Report on our website.

Discover CAAT’s 2020 highlights and Annual Report

Annual Report Webinar recording now available

If you missed our webinar on May 4, 2021, or you want to hear it again, a recording is now available on our website. Watch the webinar online.

Members’ Annual Statements—distribution on track!

We have started processing and distributing members’ Annual Statements. The majority of members will receive their Annual Statement by May 31, 2021, with some receiving theirs by June 30, 2021.

Active member Statements

• Members who have registered to receive communication electronically through My Pension will have access to their Annual Statements as soon as it is available in the portal. Members will receive an email communication advising that their Annual Statement is ready. Members who did not elect to receive their communications electronically will receive a paper Annual Statement in the mail.
• Employers that have access to PAL will be able to view member Annual Statements electronically.
• If your pension is serviced by an Administration Partner, your members will receive a paper Annual Statement in the mail.

Retired members and survivors

• Along with their Annual Statements, members will find the annual pension payment confirmation form and instructions on how to submit it.
• Pension suspensions will not occur in 2021, however, we will continue to follow up and research any situations where we do not receive confirmation.

For June 30 retirements – please send applications as soon as possible

Read this if: you’re in the Ontario College sector or expect a large amount of June 30 retirements

To date, we have received approximately 114 retirement applications for June 30. Members who retire on June 30 are required to submit their election and supporting documents by June 14. This will ensure they receive their first pension payment on June 30.

For any June 30 retirements, we encourage you to submit your retirement applications as soon as possible.

Annual Extension of Membership (EOM) and termination project starts this month

Read this if: you are an employer in the Ontario College sector

The EOM and termination project is an annual project. DCT reporting identifies members who did not contribute to the Plan in the reporting year. These members are reported as non-contributory (NC).

NC members still receive information about their pension from the Plan. Upon termination, members who are eligible for retirement receive a Retirement Package.

The termination project will start mid-May

We will provide regular progress updates during this project. This year, we received 1,100 NC member statuses. NC members will either receive a Termination Package or Retirement Package from the Plan based on their age and when their EOM period is ending. The end of the EOM period will be based on the member’s last day worked as reported on this year’s DCT.

The more members know about their pension, the more they value it

Your members now have more ways to learn about their pension than ever before.

Encourage your members to attend a webinar open to all members

The CAAT Plan is now offering monthly webinars open to all members. The all-member webinars are offered during lunch hours and in the evening so members can attend at their convenience.

Each month we will be hosting a Retirement Planning webinar and Purchase webinar. In future months, we will expand to include more topics and dates.

If you don't currently have an employer-specific webinar booked, please direct your members to register for an all-member webinar on the Attend a member presentation page.

Book sessions on specific topics for your members

You can also book an employer-specific webinar catered to topics your members are interested in. Plus in a smaller group, members will have more time available to ask questions and receive answers.

To request a webinar for your employees on topics ranging from Plan overview, pension purchases and retirement planning, please contact presentations@caatpension.ca with your preferred date so we can secure it for you.

Upcoming Events

Block your calendar for the upcoming events:

• June 3 at 10:00 am ET (DBprime and DBplus employers) – Employer Education Session – In-Year Reporting – Terminations, Retirements and Deaths
• June 3 at 1:00 pm ET (DBplus-only employers) – Employer Education Session – In-Year Reporting – Terminations, Retirements and Deaths

You will receive an invitation for any webinars approximately two weeks in advance.

Enhancing CAAT’s monthly Employer News

Thank you for sharing your feedback through the Employer News Survey over the past few months.

In the coming months, we’ll be enhancing the Employer News with a fresh layout. It will contain the same valuable information and even more exciting content.

Stay tuned to CAAT’s monthly Employer News as we work to improve the way we communicate with you!