GROUP SAVINGS AND RETIREMENT

Once your plan is set up, you will be required to remit to iA Financial Group the contributions of eligible members that have completed their enrolment. To verify the members who have completed their enrolment, log in to your account in My Client Space and go to your dashboard. Then, at the bottom left, click on the “List of enrolments” tile.

Contributions must be remitted electronically via the contribution remittance tool in My Client Space.

To see how it works, click on the “Contribution remittance” tile on your dashboard, select your contract and click on the “User guide” button. Or, watch the “Contribution Remittance Tool” video on this microsite.

If you are using a payroll provider, you do not need to use the contribution remittance tool on our website. Your payroll company will take care of the contributions. You can run a financial report found in Statistics and Reports to see the contributions.

Payments can be made three ways:

• Preauthorized payment (PAP)
  To use this payment method, simply complete and return the Business Preauthorized Payments (PAP) Agreement attached with a void cheque.
• Electronic funds transfer
  Please refer to page 17 of the contribution remittance user guide.
• Online payment
  Please refer to page 18 of the contribution remittance user guide.

When sending your contributions to iA Financial Group via your account in My Client Space, negative amounts are not accepted. Therefore, any correction or deduction must be submitted directly to us at pension@ia.ca.

Please note a correction may incur a fee.

When going on maternity leave or short/long-term leave, a member can set up pre-authorized payments to continue to make contributions.

If there is an employer match, the employer will have to coordinate getting the dollar amount from the member and contribute that amount with their remittance.

This relates to DPSP and or RPP products only. Employer credit is an unvested portion from a DPSP plan member. Under a DPSP, the employer has the opportunity to define a vesting period. A vesting period is the period an employee would need to complete or achieve to be entitled to the employer contributions that are remitted on their behalf. If a member does not complete the vesting period prior to their termination, the employer funds you remitted on their behalf would be returned to you as a credit.

The DPSP employer credit can only be applied to the DPSP contributions and/or plan fees if applicable. If you remit your contributions online via the remittance tool, Step 2 (fees/credit) is where the employer credit amount that you can allocate would be identified.

If you don’t remit your contributions online, you can refer to the T-10 Summary sent to you by iA Financial Group (this is sent on a quarterly basis if there are any applicable non-vested members and funds); it is also reflected in the Financial Report under Credits – Summary of transactions. In the Financial Report, we reference the plan member for whom the credit was issued. You may email us to verify this amount or request to use the employer credit in your next remittance.

When using the employer credit for your remittance, you must ensure that the payment amount is reduced accordingly.

You have a full calendar year to use the employer credit on file. There is a consequence if you do not use it within this timeframe: iA Financial Group must then cash out the amount and deduct a $30 transaction fee plus applicable taxes. It will be issued as a cheque mailed to the office address on file for your company.

This relates to RRSPs, DPSPs, TFSAs and FHSAs. An overpayment credit refers to additional funds that iA Financial Group has and owes the employer. The most common scenario is when a correction is made. If the correction reveals that additional funds were submitted to iA Financial Group in error, these funds will be titled as an overpayment credit. If such a situation occurs, as the employer, you will always receive an email notification from iA Financial Group, confirming the dollar amount of the overpayment credit.

If you remit your contributions online via the remittance tool, Step 2 (fees/credit) is where the overpayment credit amount that you can allocate would be identified. If you don’t remit your contributions online, you must email iA Financial Group that you want to use the overpayment amount and ensure that you remit the accurate and final amount via your payment method.

Your overpayment amount must be used within 45 days or with your next contribution remittance. There is a consequence if you do not use it within this timeframe: iA Financial Group must then cash out the amount and deduct a $30 transaction fee plus applicable taxes.

This will also apply if you are using a payroll provider.

There are five types of pending tasks:

• Missing enrolments
• Information to be confirmed
• Missing information
• Payroll deduction changes
• Payroll program account

A member is in class 99 if we receive contributions for their RRSP before they complete their plan enrolment. We do not register the contributions received with the Canada Revenue Agency (CRA), nor do we issue tax receipts. This appears as a “Missing enrolment” in your pending tasks.

If the member does not complete enrolment by December 31 of the calendar year, we must return the contributions to you, as we cannot hold them in an account that is not registered.

To guide your member through the RRSP enrolment process, please provide them with the “All Aboard” document found in the “Documents and Tools” section of the My Client Space dashboard.

My Client Space is iA Financial Group’s secure website for clients. This is where you, as the group plan sponsor, can access your dashboard and ensure the day-to-day management of your plan.

To create your account, go to ia.ca/myaccount, click on “Create account”, then on the “Plan administrator” tile. Enter your full name and contract number, and under Do you have your activation key, check No, help me! I want to get my activation key.

Once you have received your activation key, go back to ia.ca/myaccount, click on “Create account”, then on the “Plan administrator” tile. Enter your full name and contract number, but this time, check Yes, I have my activation key.

Finally, create your access code and password, and answer a few security questions. You can then access your Group Savings and Retirement plan dashboard.

To help protect our clients’ financial and personal information, we’re implementing multi-factor authentication (MFA) for My Client Space. For more information, please refer to this page.

As the plan administrator for your group, will you also be a plan member?
If so, when enrolling as a plan member, always use your personal email address. Your work email address will be linked to your plan administrator access. Using your work email address on a plan member level may cause issues with your login.

If you require assistance, please call us at 1-800-567-5670, option 2.

For further information, please see our Plan Sponsor Website Guide.

If you need a new (additional or replacement) plan administrator to have access to My Client Space, you must inform iA Financial Group and complete the Notice of contact change form.

In the form, you will see that there are three possible types of contacts:

• Contract contact person: the person who signs all documents of a legal nature relating to the group savings and retirement plan.
• Billing contact person: the person who receives invoices related to the management of the group savings and retirement plan.
• Administrative contact person: the person responsible for plan management (contribution remittances, new enrolments, termination of employment, withdrawal authorization, etc.) and the resource-person for plan members and our company.

Only these three types of individuals from your organization can access My Client Space and information relating to plan members and contributions, including financial and other reports.

If you require more than three authorized contacts, you can add additional contacts.

• Additional contact: full viewing and editing access, same functionality as other contacts, no notifications.

To do so, please fill in the Adding additional contacts  form and send it to us at: mygroupplan@ia.ca.

Yes, they also have access to My Client Space via their member accounts. In addition to monitoring the growth of their savings and the performance of their investments, they can also make transactions, get their daily updated statements and designate their beneficiaries. My Client Space also provides them with numerous retirement planning tools and financial education resources.

To learn how group plan members can access their accounts in My Client Space, see question 6 in Supporting your plan members, below.

The parameters of Canadian government programs that may impact the administration or coverage provided by private retirement and benefits plans are presented in this leaflet.