New Year’s resolution: make retirement security a priority for your organization
New Year’s resolutions top many to-do lists. After all, a new year is a new beginning – new goals, plans and directions naturally fuel our thoughts.
What kind of New Year’s resolution can benefit your nonprofit organization?
How about making retirement security a priority?
We all know we should be saving for retirement but getting the most from our hard-earned dollars can be a challenge. That’s where OPTrust Select comes in.
What’s OPTrust Select? Simply put, it’s a defined benefit pension plan that provides secure, predictable retirement income - for life. That means you can’t outlive your money. And who wouldn’t want to plan on that? There are numerous benefits to joining OPTrust Select for both employers and employees:
- An affordable way to support your employees with a modest pension
- Easy to join and roll out: with a dedicated OPTrust resource there for you at every step
- Predictable contribution rates
- A valuable attraction and retention tool
- Plan administration managed by OPTrust
- No additional administration fees.
- Your pension is payable for life – you can’t outlive it
- You receive steady retirement income typically starting at age 65
- Your employer also contributes to the pension fund
- You are not responsible for managing any investments unlike some other retirement savings plans
- Your monthly pension is based on a formula and is not impacted by day-to-day market fluctuations
- Pensions may be increased annually to adjust for inflation at the discretion of the board
- OPTrust Select, combined with personal savings, and government programs such as CPP and OAS, can help you plan your future better, so you can rest easier.
To learn more about OPTrust Select and your eligibility to join, contact us.