The insightful Conference Board of Canada to join CAAT

TORONTO, April 27, 2021 /CNW/ - Canada's largest independent applied research organization is poised to join the CAAT Pension Plan.

The 150 employees of The Conference Board of Canada will join the CAAT Pension Plan through DBplus, effective June 1, 2021. It currently offers employees a Group RRSP.

As Canada's foremost independent not-for-profit research organization, The Conference Board of Canada is dedicated to analyzing economic trends, organizational performance, and public policy issues.

The Conference Board of Canada will be among other nonprofit organizations to join CAAT, such as Vancouver Foundation, Northwest Community Legal Clinic, and St. John Ambulance. These organizations were looking to upgrade to the CAAT Pension Plan and offer a more secure retirement for their valued employees. They did so through an industry leading defined benefit pension plan and without taking on any associated risks and costs of running their own program. By having CAAT take care of their pension management, it allows them to focus on their core business.

The CAAT Plan is open for growth in membership from the for-profit, nonprofit, and broader public sectors in Canada. This includes workplaces currently offering defined benefit pension plans, defined contribution plans, group RRSPs, and those with no current workplace retirement savings plan.

As an innovative and award-winning plan, DBplus is making secure defined benefit pensions accessible to more working Canadians across the country.

Although DBplus was only made available to Canadian workplaces in 2019, about 60 employers have already joined. CAAT now has members across Canada from nine industries and has support and participation from 15 unions and member associations. Notable employers include Brink's Canada, Greater Toronto Airport Authority, University of Saskatchewan, SHARE, United Way of Greater Toronto, Lawyers Financial and Sanofi Pasteur. 

The CAAT Plan has $15.8 billion in assets and last year earned an 11.1% rate of return net of investment management fees. The 2020 investment return brings the annualized 10-year net rate of return to 9.9%.

Quotes

"I'm delighted to be welcoming The Conference Board of Canada and its employees to the CAAT Plan. We were pleased to support their thorough research of the options available to them. We are excited that they selected CAAT as the best option to meet their goals of providing valuable and desirable defined benefit pensions to its employees at a fixed-cost with no financial risks to the organization."

- Derek W. Dobson, CEO, CAAT Pension Plan

"I am tremendously excited for our organization to join the CAAT Pension Plan through DBplus. This is a game changer for The Conference Board of Canada, as this modern defined benefit plan is a competitive differentiator that puts us in a different league as an employer. We know from our research that Canadians don't save enough for retirement, and that professional pension management yields big benefits. As part of our commitment to invest in our talent, it made sense to transition to a new retirement plan that better supports the long-term financial security of our employees."

- Dr. Susan Black, CEO, The Conference Board of Canada

About CAAT Pension Plan

Established in 1967, the CAAT Pension Plan is an independent, jointly governed plan that offers two designs of a defined benefit pension. CAAT's award-winning DBplus offering is leading to an extraordinary pace of growth for the Plan. Originally created for the 24 Ontario colleges, the CAAT Plan now proudly serves more than 125 participating employers from the for-profit, nonprofit, and broader public sectors from across Canada, and is open to continued growth in membership where it is mutually beneficial. It has 70,000 active and retired members. The CAAT Plan is respected for its pension and investment management expertise and focus on benefit security. At January 1, 2021, the Plan was 119% funded on a going-concern basis with a $3.3 billion funding reserve. Learn more at www.caatpension.ca.

About The Conference Board of Canada

The Conference Board of Canada is the country's leading independent research organization. Our vision is to empower and inspire leaders to build a stronger future for all Canadians through our trusted research and unparalleled connections. Learn more at www.conferenceboard.ca

SOURCE CAAT Pension Plan

John Cappelletti, CAAT Pension Plan, [email protected], Mobile: [phone]

Related Links

www.caatpension.ca