Pension

BILSLAND & GRIFFITH





Fast and accurate member calculations;
Responsive call centre with same/next business day return calls;
Website development, including online pension calculators;
One on one member information meeting;
Organization/attendance at Trustee meetings;
All year end functions;
Contribution reconciliations;
Pension and benefit eligibility tracking;
Dental and extended health claims adjudication;
Health Spending Account administration.

LEITH-WHEELER





Background & Experience

• Founded in 1982 • Funded by a multi-employer, union pension plan (still a client!) • We have been managing your Pension Plan since April 2010
Independent & Employee Owned

• Succession planning in place to ensure continued independence • Our livelihood depends on the success of our company – if our clients do well we will do well
Our Clients Come First

• We have controlled our growth to ensure we will continue to provide excellent performance results for our clients
Disciplined Value Investment Approach

• Excellent long term performance & preservation of capital

CMAW Pension Plan- BILSLAND & GRIFFITH

NEW BROCHURE COMING SOON

NEW BROCHURE COMING SOON

Pension Break-Down- Are you almost ready for retirement? Keep the below in mind when you are preparing.

This is a defined contribution plan.

Vesting = Immediately and fully vested upon enrollment in the plan

Termination = Members after a break in service in which the member has worked 350 hour or less during a period of 2 consecutive plan years (Jan-Dec)

These are employer paid contributions and are locked in for retirement (amounts under the government small pension rule (set by the government) can be transferred to a non locked in RRSP or taken in cash less government tax)

Voluntary contributions are allowed they can be either submitted by their employers on a monthly payroll remittance or done as a lump sum deposit or transfer into the plan.

Retirement – normal retirement age is 65 early retirement age is 55.

 

PENSION PLAN FAQ’S

The following are the most commonly asked questions by Members regarding their Pension Plans. If you have any questions please fill out form below:

Where can I get detailed information on my specific Pension Plan?
Every Member of every Pension Plan is issued a Pension Plan Booklet when they enroll in the Pension Plan. This should be your first resource for detailed information on your Pension Plan.

What kind of Pension Plan does my company/union have?
There are two basic types of Pension Plans:

  • Traditionally, most Pension Plans were “Defined Benefit” Plans. This means that the formula that will be used to calculate your Pension benefits is pre-determined. Usually it is tied to your annual earnings while working. For example, the Pension benefit formula used to determine your annual Pension benefit at retirement might be: 50% of your earnings in the year immediately prior to retirement. If you earned $60,000 in your final year of employment, your Pension benefit would be $30,000/year.
  • The newer form of Pension is a “Defined Contribution” Plan. In a Defined Contribution Plan, the amount that the company contributes into your Pension Fund each year is determined in advance. The company might contribute a fixed amount each year (e.g. $1000) or they might contribute a percentage of your earnings in the year (e.g. 3%). The amount of Pension that you receive at retirement will be determined by how much the company contributes to the fund each year and how much interest is gained by the fund prior to your retirement.