Toll free phone number for long distance numbers: 1-866-350-2228

---

Information provided by your CAAT Pension Plan

Contribution Increases (Posted 27-November-2007)

There will be an Increase of 1% for both Plan Members and employers, to be implemented on each of January 1, 2008, 2009, and 2010. The total increase will be 3% for each group.

Year	Earnings to YBE	Earnings between YBE – YMPE	Earnings above YMPE
2007	9.1%	7.3%	9.1%
2008	10.1%	8.3%	10.1%
2009	11.1%	9.3%	11.1%
2010	12.1%	10.3%	12.1%

 

---

Understanding Indexation Changes (Posted 16-Apr-07)

Following the announcement of upcoming indexation changes, we have received several questions from Plan Members as well as College pension Administrators about the possible impact on future pensions.

The attached document explains the upcoming changes and provides examples that may be particularly useful to Members who are planning to retire within the next few years.

---

CAAT Pension - Funding Policy Clarification   (Posted 16-Nov-06)

The pension is broken down in this way:   service up to Dec. 31, 1991 is indexed based on the surplus in the pension plan service from 1992 to Dec. 31, 2007 is guaranteed indexed at 75% of the consumer price index service from 2008 on is indexed based on the surplus in the plan   So essentially you are guaranteed to have the service from 1992 - Dec. 31, 2007 guaranteed no matter when you retire.   

---

CAAT Pension - Funding Policy   ( Posted 16-Oct-06)

 

On September 27, 2006, the Sponsors’ Committee of the CAAT Pension Plan approved a Funding Policy that will help to address the current deficit situation and should increase the stability of the Plan’s funding in the future.

1. The Policy, recommended to the Sponsors’ Committee by the Board of Trustees and its Funding Task Force, contains 10 points that will reduce the current deficit and provide a framework for dealing with future surpluses and deficits.
Point 1 of the Policy increases contribution rates by 1% on each of January 1, 2008, 2009 and 2010, for a total increase of 3%. This will apply equally to both Plan Member and College contributions.

Point 2 of the Policy states that the Plan will not be guaranteeing indexation increases annually, starting with the granting of indexation for service earned after December 31, 2007. Indexation for service earned after that date may be granted each year on an ad hoc basis – if it is affordable, meaning that the Plan is 100% funded according to the previous year’s actuarial valuation.

It’s important to keep in mind that pensions currently in payment, or those that start before January 1, 2008, will not be affected either by this change in the granting of indexation payments or by the change in contribution rates.

The remaining points in the Policy lay out the procedures that the Plan will follow in eliminating future deficits and making the best use of future surpluses. The key priorities for uses of surplus include making ad hoc indexation payments and “catching up” for missed years of such payments, and reducing contribution rates.

Note that this information will appear on the Plan’s website on Wednesday, October 11, and that more detailed explanations will be sent to all Plan Members and Pensioners within the next month.

 http://www.caatpension.on.ca

You may also contact CAAT Pension directly at 1 866 350 2228.

---

CAAT Pension - Separation/divorce agreement REQUIRED  ( Posted 31-Aug-06)

 

In the event of a marriage breakdown or separation by a Member, the Plan requires evidence that the ex-spouse is entitled to a share of the Member’s pension, or that he or she has waived such entitlement. The best source of this evidence is a copy of the separation or divorce agreement that directly addresses the settlement of the pension entitlement.

 

At the time a separation or divorce is being negotiated, the Plan is willing to review the proposed wording that relates to the division of the Member’s pension entitlement. This review is only to determine whether the proposed settlement is enforceable by the Plan under the terms and limits of the Ontario Pension Benefits Act.

 

When the agreement is finalized we ask that you provide a copy of the title page, the paragraph or paragraphs pertaining to the pension division and the signature page. We will keep this in the Member’s file so that any subsequent claims that occur will be supported or negated by the document.

 

 

NOTARIZED AFFIDAVIT IN LIEU OF SEPARATION/DIVORCE AGREEMENT

 

In the event that there is no agreement, or the agreement does not address the pension issue, or if the Member refuses or is unable to submit a copy of the agreement or a signed waiver, the Plan will accept a notarized affidavit, paid for by the Member or former Member, in which they must declare:

• that they are no longer married to or living in a common-law relationship with the named individual, and
• that should the former Spouse submit a valid claim at any time in the future the Member/former Member will reimburse the Plan for any costs or settlements made with the former Spouse.

For information regarding your CAAT Pension and Separation or Divorce, please visit the CAAT Pension Website regarding Divorce and Separation Agreements at

 http://www.caatpension.on.ca/Atrium/PensionerHandbook/PH10.html

You may also contact CAAT Pension directly at 1 866 350 2228.