{"id":19560,"date":"2020-09-15T15:15:23","date_gmt":"2020-09-15T19:15:23","guid":{"rendered":"https:\/\/www.benefitscanada.com\/news\/otip-employees-joining-caats-dbplus-pension-149801"},"modified":"2020-09-15T15:15:23","modified_gmt":"2020-09-15T19:15:23","slug":"otip-employees-joining-caats-dbplus-pension","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2020\/09\/15\/otip-employees-joining-caats-dbplus-pension\/","title":{"rendered":"OTIP employees joining CAAT\u2019s DBplus pension"},"content":{"rendered":"<div class=\"alignleft clearfix\">\n<div class=\"wp-caption feature-image alignleft\"> <img decoding=\"async\" loading=\"lazy\" width=\"316\" height=\"190\" src=\"https:\/\/www.benefitscanada.com\/wp-content\/uploads\/2016\/02\/Teachers-Shutterstock.jpg\" class=\"attachment-feature size-feature wp-post-image\" alt title=\"OTIP employees joining CAAT\u2019s DBplus pension\"> <\/div>\n<\/p><\/div>\n<p class=\"byline\"> <span>Staff <\/span>&nbsp;|&nbsp;September 15, 2020 <\/p>\n<p>The Ontario Teachers Insurance Plan and its group of companies are the latest employers to join the Colleges of Applied Arts and Technology\u2019s DBplus pension plan.<\/p>\n<p class=\"p2\">Effective Sept. 7,&nbsp;685 full-time employees \u2014 including 639 from Ontario, 23 from Alberta and 23 from Quebec \u2014 joined DBplus on a go-forward basis. In addition, all part-time and contract employees will have the option to join&nbsp;the plan.<\/p>\n<p class=\"p2\">With the change,&nbsp;the&nbsp;employees move from a defined contribution&nbsp;into a defined benefit pension. Members will be able to transfer their DC balances to purchase the additional pension with DBplus.<\/p>\n<p class=\"p2\"><strong>Read:&nbsp;<a href=\"https:\/\/www.benefitscanada.com\/news\/canadian-law-firms-to-join-caats-dbplus-pension-plan-142916\">Canadian law firms to join CAAT\u2019s DBPlus pension plan<\/a><\/strong><\/p>\n<p class=\"p2\">Since&nbsp;the plan was <a href=\"https:\/\/www.benefitscanada.com\/news\/caat-to-introduce-new-db-plan-113886\">introduced in 2018<\/a> and launched in 2019, more than 15,000 members from more than 30 employers have joined. The CAAT now has members across Canada from nine industries and 14 different labour unions.<\/p>\n<p class=\"p1\">\u201cOTIP and the OTIP group of companies are delighted to join CAAT and offer our employees the security of a defined benefit pension plan,\u201d said Vic Medland, chief executive officer of the OTIP, in a press release. \u201cBeing able to provide enhanced value for our hard-working and dedicated staff, while maintaining the same fixed costs for the organization made DBplus the best choice for us.\u201d<\/p>\n<p> <a href=\"https:\/\/www.benefitscanada.com\/news\/otip-employees-joining-caats-dbplus-pension-149801\">Read the full article at BenefitsCanada.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Staff &nbsp;|&nbsp;September 15, 2020 The Ontario Teachers Insurance Plan and its group of companies are the latest employers to join the Colleges of Applied Arts and Technology\u2019s DBplus pension plan. Effective Sept. 7,&nbsp;685 full-time&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/19560"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=19560"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/19560\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=19560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=19560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=19560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}