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  • The Benefits Alliance Group - Conference Calendar
    Conte Financial Services Inc CFS Crillion Benefits Advisory Group Inc Davis Benefits Pensions Ltd DiBrina Sure Benefits Consulting Inc ES3 Advisory Fairfield Watson Lewis Inc Gary Shea Financial Ltd Green Benefits Group Inc Group Benefits Consulting of Canada Inc Johnson Insurance Consulting Laws Benefits Inc Laws Benefits Inc Toronto Lindsay Webb Financial Inc McFadden Benefits Pension Ltd mls Financial Services Morrow Crossdale Associates Inc MSC Financial Group Inc ONYX Financial

    Original URL path: http://www.benefitsalliance.ca/calendar (2016-04-27)
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  • The Benefits Alliance Group - Contact Us - Members
    is for general enquiries To send a message to the other site members please use the form on your profile page once you have logged in Contact Form Fields marked with are mandatory President and CEO Gil McGowan email protected Administrative Marketing Assistant Sarah Toth email protected 905 669 5577 ext 225 Name Email Subject Message Submit Advanced Benefits Consulting Altitude Employee Benefits Solutions New Brunswick Altitude Employee Benefits Solutions Nova Scotia Altitude Employee Benefits Solutions Prince Edward Island Belay Advisory Bell Financial Inc Benefits Associate Markham Benefits Associate St John s Benefits Associate Toronto Calow Benefit Partners Inc CAPCORP Financial Capital Benefit Financial Group Inc Capri Insurance Consortia Inc Conte Financial Services Inc CFS Crillion Benefits Advisory Group Inc Davis Benefits Pensions Ltd DiBrina Sure Benefits Consulting Inc ES3 Advisory Fairfield Watson Lewis Inc Gary Shea Financial Ltd Green Benefits Group Inc Group Benefits Consulting of Canada Inc Johnson Insurance Consulting Laws Benefits Inc Laws Benefits Inc Toronto Lindsay Webb Financial Inc McFadden Benefits Pension Ltd mls Financial Services Morrow Crossdale Associates Inc MSC Financial Group Inc ONYX Financial Group Peak Benefit Solutions Penmore Benefits Inc PROTECT Insurance Agencies Inc River Oaks Insurance Ltd Robert M Livie Insurance Agencies

    Original URL path: http://www.benefitsalliance.ca/contact-us-members#contact_form (2016-04-27)
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  • The Benefits Alliance Group - Benefits Alliance ORPP Response
    similar outcome As previously mentioned people who are using RRSP s to supplement their retirement plans are typically earning 50 000 year or more If these folks are required to contribute 1 9 to the ORPP they will likely reduce the amount they contribute to RRSP If their ORPP contribution adds to their pension adjustment calculation it will reduce their ability to contribute to RRSP s Retirement savings typically becomes a priority for people 45 50 years of age when other financial commitments are lessened and incomes are generally higher When we consider the factors that affect the growth of funds on a cash accumulation basis we consider the level of contribution the earnings of the fund investment and the time horizon Typically the level of contribution and the time horizon are the most significant contributors Defined Contribution arrangements typically favours the younger plan member where the investment time horizon is longer The ORPP will do very little for majority of Ontarians who are currently saving enough for retirement other than re direct their current savings to a plan ORPP where the cost of operation is not defined or understood It is our opinion that the cost to fund and operate the ORPP is understated It costs 7 28 of payroll to fund the current CPP retirement benefit 2 62 for other benefits It also costs 800 million to administer CPP The CPP maximum in 2015 is 13 400 year 53 600 x 0 25 The ORPP would provide a maximum benefit of 13 500 90 000 x 0 15 at a cost of 3 8 of payroll In 1966 the initial CPP contribution level was also 3 8 On the surface it appears that the proposed funding formula would not satisfy the funding requirements and expenses of the plan COMPARABLE PLANS The proposed ORPP legislation would only recognize defined benefit plans or hybrid plans on the basis that they provide Predictable income stream Pool longevity and investment risk Target 15 income replacement Require locking in All of the features included are available through existing DC pension plans which are required to Provide a guaranteed income for the life of the pensioner and spouse Locking in of funds Group Annuity investment options eliminate investment and longevity risk immediately upon enrollment Purchase the same pension dollar that would be available under a comparable DB or Hybrid plan at the same cost Private sector employers cannot afford to operate Defined Benefit Plans that offer all the above plus indexation With 3 8 funding we would wonder how much of the contribution would actually be used to fund retirement benefits without increasing contribution levels or adding to the tax burden Ontario taxpayers and businesses feel right now It is interesting that Hybrid Plans are considered comparable plans These plans typically eliminate the investment risk which is assumed by the plan sponsor They allow for a reduction in benefit to reduce funding costs in the event that liabilities exceed the assets of the plan

    Original URL path: http://www.benefitsalliance.ca/blog/benefits-alliance-orpp-response (2016-04-27)
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  • The Benefits Alliance Group - News Release: New Data Shows Major Problems with ORPP Design
    readiness released by McKinsey Company which found that 83 of Canadian households are financially on track for retirement McKinsey s data shows that the problem of inadequate savings is limited largely to mid to high income households that do not have an employer plan or do not make sufficient contributions to their plans We strongly urge the Ontario government to consider the unintended consequences of their proposal states Swedlove If you consider the Environics survey along with the McKinsey analysis it is clear that the proposal as it now stands not only undermines existing retirement savings but would force additional contributions on a large segment of the population who are already on track for retirement About the CLHIA Established in 1894 the CLHIA is a voluntary association whose member companies account for 99 per cent of Canada s life and health insurance business The industry provides a wide range of financial security products such as life insurance annuities including RRSPs RRIFs and pensions and supplementary health insurance to almost 28 million Canadians It also holds close to 647 billion of assets in Canada and employs about 150 100 Canadians For more information please contact Wendy Hope Vice President External Relations 613 230 0031 Email Read the news release at Canadian Life and Health Insurance Association Posted by benefitsalliance Categories Retirement Expert Advice We recommend the right plans for your company your staff and your bottom line With Better Advisors be prepared to reap the benefits Blog Post view all 08 Jun A study finds employee engagement levels have plateaued 31 Mar When considering the stresses of life money would rank 11 Mar In response to New Data Shows Major Problems with Blog Categories Benefit Trends Company Owners CPP Finance Generic Drugs Prescription Drugs Retirement Group RRSPs Advanced Benefits Consulting Altitude

    Original URL path: http://www.benefitsalliance.ca/blog/news-release-new-data-shows-major-problems-with-orpp-design (2016-04-27)
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  • The Benefits Alliance Group - Astronomical jump in stop loss premiums
    before We ve seen groups that are seeing 20 per cent increases in the premiums that they re paying Related How advisors can combat high drug costs The numbers are bearing it out too The U S business group of Sun Life Financial reported a tenfold increase in the number of individual 1 million or more catastrophic claims paid by the company between 2010 2013 The total of all stop loss claims reimbursements during the four year study was 2 billion If the first dollar claims for catastrophic conditions are added to the stop loss claim reimbursements the overall cost of the catastrophic conditions was 4 4 billion I want to say it s not sustainable but we said that about drug costs 15 years ago said Farrow I think what will likely happen this client is a good example they ll assume more risk They ll look at their claims and say what are the chances that this is going to happen again and try to do some analysis and maybe they ll assume more risk and increase their stop loss level Then of course you re back to the employees paying more It has to come from somewhere It s really really substantial and I don t see any end to it to the extent that the market stays the same way said Sullivan Source Life Health Professional Posted by benefitsalliance Expert Advice We recommend the right plans for your company your staff and your bottom line With Better Advisors be prepared to reap the benefits Blog Post view all 08 Jun A study finds employee engagement levels have plateaued 31 Mar When considering the stresses of life money would rank 11 Mar In response to New Data Shows Major Problems with Blog Categories Benefit Trends Company Owners

    Original URL path: http://www.benefitsalliance.ca/blog/astronomical-jump-in-stop-loss-premiums (2016-04-27)
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  • The Benefits Alliance Group - Small Business Challenges for Benefits and Retirement Plans
    challenge lies in the execution Under the guidance of a better advisor it will be a comfortable process as they give you better advice in order to gain the best result for your company Familiarity with the benefits and restrictions of different types of plans will save your company time cost and dissatisfaction Whether it is offering a competitive advantage to employees versus their own bank or finding a balance between flexibility and company control these are significant choices of what can be accomplished through a financial expert All in all when it comes to benefits and retirement plans choosing a better advisor is crucial as it will help your organization thrive Source Why don t more small businesses have a group retirement plan by Scott Anderson Benefits Canada 2014 Manulife Small Business Research Report Need Help with Your Group Benefits Contact a Benefits Alliance Advisor for help with your Group Benefits and or Retirement Plans About The Benefits Alliance Group The Benefits Alliance Group is Canada s largest firm of independent group benefits advisors We provide superior advice on the design and management of group insurance and retirement plans Posted by benefitsalliance Categories Benefit Trends Company Owners Retirement Group RRSPs Expert Advice We recommend the right plans for your company your staff and your bottom line With Better Advisors be prepared to reap the benefits Blog Post view all 08 Jun A study finds employee engagement levels have plateaued 31 Mar When considering the stresses of life money would rank 11 Mar In response to New Data Shows Major Problems with Blog Categories Benefit Trends Company Owners CPP Finance Generic Drugs Prescription Drugs Retirement Group RRSPs Advanced Benefits Consulting Altitude Employee Benefits Solutions New Brunswick Altitude Employee Benefits Solutions Nova Scotia Altitude Employee Benefits Solutions Prince Edward Island Belay

    Original URL path: http://www.benefitsalliance.ca/blog/small-business-challenges-for-benefits-and-retirement-plans (2016-04-27)
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  • The Benefits Alliance Group - Risk Management: What to Consider
    transparency in the investment industry says Jane Mancini As a result advisors are in the perfect position to evaluate the risks associated with different financial plans and communicate the potential benefits and issues to clients Finding a reputable advisor who will work with you to provide the best solution for your organization is important A tailored plan as an individual or small business taking into account income pension fund and so on is something an advisor can design based on individual needs Analyzing potential risk and actively monitoring portfolios is part of an informed and strategic approach to managing risk Contact us and discover why better advisors give better advice Source Re engineering Risk by Jane Mancini Benefits Pensions Monitor Online Canada Make Sure You Are On the Same Benefits Page Contact a Benefits Alliance Advisor for help with your Group Benefits and or Retirement Plans About The Benefits Alliance Group The Benefits Alliance Group is Canada s largest firm of independent group benefits advisors We provide superior advice on the design and management of group insurance and retirement plans Posted by benefitsalliance Categories Finance Expert Advice We recommend the right plans for your company your staff and your bottom line With Better Advisors be prepared to reap the benefits Blog Post view all 08 Jun A study finds employee engagement levels have plateaued 31 Mar When considering the stresses of life money would rank 11 Mar In response to New Data Shows Major Problems with Blog Categories Benefit Trends Company Owners CPP Finance Generic Drugs Prescription Drugs Retirement Group RRSPs Advanced Benefits Consulting Altitude Employee Benefits Solutions New Brunswick Altitude Employee Benefits Solutions Nova Scotia Altitude Employee Benefits Solutions Prince Edward Island Belay Advisory Bell Financial Inc Benefits Associate Markham Benefits Associate St John s Benefits Associate Toronto Calow

    Original URL path: http://www.benefitsalliance.ca/blog/risk-management-what-to-consider (2016-04-27)
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  • The Benefits Alliance Group - Sandwich generation $560,000 short of retirement savings goal
    for children and aging relatives balancing a career and generally keeping up with daily tasks can make it hard to focus on the future and saving for retirement he adds The study also finds that 76 of the sandwich generation feel that the stress of everyday living such as working taking care of family paying household bills helping older relatives etc is having an impact on their ability to meet long term financial goals This cohort grew up generally doing things much on their own Much of what they have accomplished getting an education building their career buying their first house was done without the help of others Brisebois explains However it s clear they need assistance when planning and prioritizing finances for the future Article Source Benefits Canada Sandwich Generation 560 000 short of retirement savings goal August 12 2014 Disclaimer This article provides general information only All information contained on this article is distributed with the understanding that the authors publishers and distributors are not rendering insurance medical legal accounting or other professional advice or opinions on specific facts or matters and accordingly assume no liability whatsoever in respect to your personal situation Want to Help Your Workforce Save for Retirement Find an Advisor Contact a Benefits Alliance Advisor for help with your Group Benefits and or Retirement Plans About The Benefits Alliance Group The Benefits Alliance Group is Canada s largest firm of independent group benefits advisors We provide superior advice on the design and management of group insurance and retirement plans Posted by benefitsalliance Categories Benefit Trends CPP Retirement Expert Advice We recommend the right plans for your company your staff and your bottom line With Better Advisors be prepared to reap the benefits Blog Post view all 08 Jun A study finds employee engagement levels

    Original URL path: http://www.benefitsalliance.ca/blog/sandwich-generation-560000-short-of-retirement-savings-goal (2016-04-27)
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