Protecting Your Drug Plan from Rising Costs

Protecting Your Drug Plan from Rising Costs

A major concern for employers looking to control their costs is health and dental benefits. One of the fastest rising health care costs for employers is drug plans. With the advances in medicine, there seems to be new drugs every other month. Employers have to make the tough decision of balancing cost control with the

Dealing with Pension Plan Longevity Risk

Dealing with Pension Plan Longevity Risk

Retirees aren’t the only ones who need to worry about outliving their money. Longevity risk is a major concern for defined benefit pension plan sponsors as well. While longevity risk largely remains with workers for defined contribution pension plans and group RRSPs, it’s the employer that bears the brunt of the risk with traditional defined

Flexible Pension Plan: Enhancing Your Defined Benefit Plan

Flexible Pension Plan: Enhancing Your Defined Benefit Plan

With many private sector pension plans reaching fully funded status, a growing number of plan sponsors are considering de-risking strategies. De-risking can take many forms from plan redesign to plan consolidation. The purpose of de-risking is to reduce an employer’s exposure to pension plans risks like a market downturn. Before undertaking a de-risking strategy, it’s

Five Elements of Workplace Wellness

Five Elements of Workplace Wellness

Over the past few years, the growing importance that we place on creating and maintaining some kind of work-life balance has had a huge influence on corporate hiring and employee retention efforts. In generations past, employees were expected to leave the concerns of their personal lives at the door and to focus all their attention

Changes to Taxable Disability Benefits

Changes to Taxable Disability Benefits

Effective January 1, 2015, Carriers will update how taxable long-term and short-term disability benefits are administered to align with new requirements outlined by the Canada Revenue Agency (CRA). Previously, plan sponsors or plan members could select other options for withholding tax such as a specific amount or percentage, or defer them until annual taxes are filed. The

Alberta’s new pension legislation effective September 1

Alberta’s new pension legislation effective September 1

It’s finally come . . . Alberta’s new pension legislation will be effective September 1, 2014 The Alberta Employment Pension Plans Act received Royal Assent in December 2012. The proclamation was delayed pending the drafting and approval of the accompanying Employment Pension Plans Regulation. The Regulation was passed on July 22, 2014 and becomes effective (unless otherwise

Basics of Emergency Travel Insurance

Basics of Emergency Travel Insurance

When you’re travelling across Canada or to another country you could face an unexpected medical emergency. Emergency Travel Insurance is part of most group benefit plans and is designed to make your business or pleasure travel worry free. Many plans will cover items such as: Medical & Hospital Benefits (referrals, in-patient and out-patient services etc.) Emergency

Corporate Social Responsibility Helps Build a Team

Corporate Social Responsibility Helps Build a Team

At Ideaca, people and the community are important. Through the coordinating efforts of its Social Responsibility Task Force, which includes a representative from each of its five offices, Ideaca has extended its reach – locally, nationally and internationally. Community involvement is driven by employee feedback. Ideacans (as they call themselves) get to choose where they