Employee Benefits Plan

Our Benefits Plan is designed to:

• Be meaningful and supportive of the associate and their family’s health
• Ensure the appropriate levels of care are in place when accessed and needed
• Meet or exceed plans for those who compete for the same talent
• Provide the associate with the flexibility to choose coverage based on their lifestyle and health care needs 

Benefit Type	Coverage
Life & Accidental Death and Dismemberment Insurance	– Flat $150,000  – 50% reduction at age 65  – Terminates at age 70
Dependent Life Insurance	– Spouse – $5,000 – Child(ren) – $2,500
Short term disability	– 66.2/3% of weekly earnings to a maximum of $800 – Elimination period—7th day accident/illness – 17 week benefit duration – Non-Taxable
Long Term Disability (LTD)	– 66.2/3% of monthly earnings to a maximum benefit of $5,000 (amounts over $3,000 require medical health evidence approval) – Elimination period—17 weeks – Definition of disability—24 months own occupation – Maximum Benefit Period—to age 65 – Non-Taxable
Extended Health Care	– 100% overall reimbursement for EHC In-Province expenses, unless otherwise stated – Semi -Private / Private Hospital room – Orthotics—$200 per calendar year – Orthopedic Shoes —$400 per calendar year ($200 age 18 and under) – Hearing Aids—$500 every 5 calendar years – Out of Country Emergency—$3,000,000 lifetime maximum, 180 day trip duration – Survivor Benefits—24 months – Terminates at age 85 or retirement
Drugs	– 100% reimbursement – Pay Direct Drug Card – Mandatory Generic
Paramedicals (e.g. massage, physiotherapy, chiropractor)	– 100% reimbursement, $500 per person per calendar year  (Chiropractor, Massage, Naturopath, Physiotherapist, Psychologist/Registered Clinical Counsellor, Speech, Podiatrist, Acupuncture, Homeopath ($100 per year), Dietician ($200 per year)
Vision	– 100% reimbursement – Eye Exams —1 every 24 months, $70 maximum – Glasses, Contact Lenses & Laser Eye Surgery —$300 every 24 months / 12 months for dependents
Dental	– Basic Services—100% reimbursement, $3,000 per year, combined with Major – Major Services–80% reimbursement, $3,000 per year, combined with Basic – Orthodontic—50% reimbursement, $2,500 lifetime maximum (dependents under 19) – Oral Exam recall frequency is twice per year Terminates at age 85 or retirement

Group Retirement Plan

The New Group Retirement Plan: 

• Designed to help our staff save for retirement in a cost-effective manner
• Meet or exceed plans for those who compete for the same talent
• Align with Venture Elevator values

Plan Details	RRSP	TFSA
Eligibility	Full-time employees following 6 months of employment	Full-time employees following 6 months of employment
Participation	Voluntary	Voluntary
Regular contribution	Please refer to your Pension Policy Booklet	Please refer to your Pension Policy Booklet
Employer contribution	Please refer to your Pension Policy Booklet	Please refer to your Pension Policy Booklet
Voluntary contribution	Once you are eligible to join the plan, you can make voluntary contributions however, it Is your responsibility to stay within CRA limits.	Once you are eligible to join the plan, you can make voluntary contributions however, it Is your responsibility to stay within CRA limits.
Lump sums	You can make lump sum contributions up to 18% of your pervious year’s income.	You can make lump sum contributions up to 18% of your pervious year’s income.
Investment instructions	Each member will choose their investment allocation	Each member will choose their investment allocation
Default fund	Fidelity ClearPath Target Date Fund	Fidelity ClearPath Target Date Fund
Withdrawal rules	– Employer consent is required for contributions made by you on a regular basis. – Contributions made by your employer cannot be withdrawn however withdrawals are permitted for CRA’s -Home Buyers* and Lifelong Learning Plans* *CRA’s Home Buyers: this program allows you to withdraw funds from your RRSP to buy or build a home for yourself or for a related person with a disability. The HBP allows you to pay back the withdrawn funds within a 15-year period.  *Lifelong Learning Plan: allows you to withdraw up to $10,000 in a calendar year from your RRSP to finance full-tome training or education for you or your spouse/common law partner.	Employer consent is required for contributions made by you & the employer.

Questions? Contact your Acera Benefits Advisor

Amar Munjal, Acera Benefits

Phone 604.484.0121
Email amar.munjal@acera.ca