Historic dental association prioritizes employee financial health with DBplus

TORONTO, June 23, 2021 /CNW/ - Signifying the importance of offering employees a secure pension for life, one of Canada's oldest professional associations, the Ontario Dental Association (ODA), as well as Accerta, a growing B-Corporation, have joined the CAAT Pension Plan.

Effective June 1, 2021, the full-time employees of ODA have joined CAAT's innovative fixed-cost defined benefit pension plan, DBplus, which is available to workplaces across the country of different sizes, industries, and sectors. CAAT also welcomes the employees of Accerta, a subsidiary of ODA.  

ODA and Accerta join other health care or benefits-related organizations, such as Sanofi Pasteur, Ontario Teachers' Insurance Plan, and St. John's Ambulance who have chosen the CAAT Plan. By transferring from group RRSPs, employees now have access to predictable retirement income, for life. They will also enjoy the benefits of inflation protection, surviving spouse pensions, and early retirement features.

The CAAT Plan is open for growth in membership from professional associations, nonprofit, for-profit and public sectors in Canada. This includes workplaces currently offering defined benefit plans, defined contribution plans, group RRSPs, and those without workplace retirement savings plans.

Although DBplus was only made available to Canadian workplaces in 2019, over 80 employers have already joined. CAAT now has members across Canada from 10 industries and has support and participation from 16 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.

Quotes:

"We are excited to welcome the Ontario Dental Association and Accerta to the CAAT Pension Plan. We always value partnering with likeminded organizations and associations who understand the value of providing benefits or care to their members and employees."

-       Derek W. Dobson, CEO, CAAT Pension Plan

"The Ontario Dental Association strives to be a top employer and that includes offering a competitive compensation package with reliable retirement benefits. It's important to us that everyone on our team has the peace of mind throughout their career that they have a secure retirement plan. We are pleased to partner with CAAT on this goal."

-       Frank Bevilacqua, CEO, Ontario Dental Association

"Our participation in CAAT demonstrates our commitment to our employees and our ongoing efforts to help them realize their personal, professional and financial goals."

-       Peter Owsiany, President, CEO & Chief Privacy Officer, Accerta

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 plan is leading an extraordinary pace of growth for the Plan. Originally created to support the Ontario college system, the CAAT Plan now proudly serves more than 125 participating employers from various sectors including the for-profit, nonprofit, and broader public sectors across Canada. Currently, it has over 70,000 active and retired members. The CAAT Plan is respected for its pension and investment management expertise and focus on stability and benefit security. At January 1, 2021, the Plan was 119% funded on a going-concern basis with a $3.3 billion funding reserve. Assets grew from $13.5 billion at the start of 2020 to $15.8 billion in 2021. Learn more at: www.caatpension.ca.

About Ontario Dental Association:

The ODA has been the voluntary professional association for dentists in Ontario since 1867. Today, it represents more than 10,000, or nine in 10, dentists across the province. The ODA is Ontario's primary source of information on oral health and the dental profession. It advocates for accessible and sustainable optimal oral health for all Ontarians by working with health care professionals, governments, the private sector and the public. Learn more at: www.oda.ca.

About Accerta:

Recognized as a leader in the administration and transformation of government-sponsored healthcare programs, Accerta is a B-Corp certified social enterprise whose solutions reduce inequities in public programs and lessen the administrative burden for governments and their stakeholders. Leveraging modern solutions, it keeps pace with governments' needs and enables healthcare equality for Canadians. Learn more at: www.accerta.ca.    

SOURCE CAAT Pension Plan

Lindsay Grillet, CAAT Pension Plan, [email protected], Mobile: [phone]

Related Links

www.caatpension.ca