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’sContinue Reading

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 attentionContinue Reading

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. TheContinue Reading

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 otherwiseContinue Reading

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.) EmergencyContinue Reading

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 theyContinue Reading

Target Benefit Pension Plans

Target Benefit Pension Plans

Pension de-risking can take many forms. As a plan sponsor, you can introduce minor changes like switching to a less generous plan formula (final average earnings to career average earnings), or more drastic measure like closing the plan to new entrants or switching to a defined contribution pension plan.  Recently introduced by the federal government,Continue Reading