Some staff members contribute under a prior arrangement (6% minus Canada Pension Plan contributions) and should contact a consultant to discuss changing to the 2.5% level. Faculty members can choose to contribute either 1.5% or 5.5% of regular annual earnings and can change their level of contribution on July 1st each year. For more information, please contact a consultant.

Your total contributions (include required contributions, UWO contributions and voluntary contributions) can not exceed the lesser of: 18% of your UWO pensionable earnings up to the annual Income Tax Limit (2002: $13,500; 2003: $14,500). To start voluntary contributions you must complete the Voluntary Contribution Change Form and the Pension Investment Change Form indicating your investment direction under column 4 (click here to download the form).

The amount that can be contributed annually is based on factors such as a client's age, income, length of time before retirement and rate of return of the investment portfolio. In 2006, the annual benefit payable at retirement can be as high as $175,000 per year. As a result, annual contributions into a defined benefit plan can be even larger than $175,000 in some cases in order to meet that level of retirement income target.

Legislation restricts the payment of pension funds. You cannot cash out pension funds in your regular account. If you have made voluntary contributions, these can be cashed subject to tax and an administration fee by completing the Withdrawal of Voluntary Funds Form. You are encouraged to speak with a consultant before deciding to cash your voluntary funds.

an employee of the State of Delaware, you contribute a certain percentage of each paycheck to the State's pension fund. As of January 1, 1987, all employees contribute at the same rate: 3% of that portion of your monthly compensation which exceeds $6,000 per year.

The Board always encourages Church of God employers to contribute in behalf of their employees whenever possible. An employer contribution is sometimes called a "fringe benefit" and is not part of the employee's taxable income. An employee is also permitted to contribute pre-tax dollars to their pension account. This is often referred to as a salary reduction and the employer should have a salary reduction agreement, signed by the employee, on file.

of January 1, 2003 under IRS rules, you can generally contribute 100% of your Northwestern University salary up to $12,000, whichever is lower. Employees who have attained 15 years or more years of qualifying University service may make additional contributions above the limits specified in the table above if they failed to maximize their 403(b) contributions earlier in their employment.

AFM members may participate in the AFM-EPF (American Federation of Musicians and Employers Pension Fund). Currently musicians who perform on MPF jobs receive a 4% pension contribution for each job. Members may also file pension contributions on their own behalf on special single-engagement contract forms. Please contact us for copies of the LS-1 contract form and information on how to take advantage of this valuable new member benefit.

The Employee Retirement Income Security Act (ERISA) requires plan administrators - the people who run plans - to give you in writing the most important facts you need to know about your pension plan. Some of these facts must be provided to you regularly and automatically by the plan administrator. Others are available upon request, free of charge or for copying fees. Your request should be made in writing.

Most Ontario registered pension plans are listed in FSCO's Pension Plan Information Access, or you can check with your plan administrator. Certain plans are excluded from Pension Plan Information Access for privacy reasons. Also, if your employer has locations in other provinces, your pension plan may be registered in another jurisdiction. As noted below, pensions of employees in federally-regulated employment are not regulated by FSCO.

Your plan administrator is your first source of information on the pension plan. As well as providing information required by the Pension Benefits Act, your administrator is available to answer your pension plan questions. A complete list of the information that your administrator must provide can be found at Your Pension Rights, in the section Information Provided to Plan Members on page 46.

Pensions are protected under Federal legislation as are. RRSP’s that are not pension roll-overs, or are held by life insurance companies. All other RRSP's must be paid over to the Trustee to distribute to your creditors. If you have a non-life insurance funded RRSP, you should discuss your rights with your agent and with your family solicitor.

BF&M Insurance Group has devised an investment strategy quiz to help you understand the intricacies of the market and calculate your tolerance of risk. Click on the link to go the quiz.

The minimum age for joining is age 23, the maximum is age 64. The minimum service required to join a pension plan is 720 hours of employment. If your employer's pension plan has a shorter service requirement, such as 3 months you will join the plan on the earlier date.

The minimum contribution for 2002 is 3% each from the employee and the employer. In 2003 it rises to 4% each and in 2004 it will reach the maximum of 5% each. You may make voluntary contributions as well, however, these are not matched by your employer.

Not necessarily. If you think you may be eligible to join, contact your employer, plan administrator, or your union representative. You may be required to fill in an application form in order to join the plan. The plan is required to provide an explanation or summary of the plan to each employee at least 30 days before the employee first becomes eligible, or is required to be a member of that plan.

The PBSA does not require you to join your pension plan. Your employer, however, may require you to join as a condition of your employment.

A Defined Contribution Pension Plan is an Employer sponsored Plan that allows an Employer to accumulate Retirement benefits for employees through fixed or discretionary annual contributions.

A Defined Benefit Pension Plan is an Employer Sponsored Plan that defines a monthly retirement benefit at the Social Security Retirement Age, or a stipulated retirement age. The Plan is formula driven for all eligible employees, and requires a contribution each year.