August 2021 Edition

All along the plan member journey, we aim to send the right message, to the right person, at the right time. That’s why we put the automated communications program in place. So, if you sign up for our automated communication campaigns, your plan members will receive personalized messages. These messages will remind them to complete certain actions based on the steps they’ve accomplished, or have yet to accomplish, in their journey.

The objective of automated communications is to allow your plan members to fully benefit from the group retirement savings program you offer them. For example, if you request to be included in automated communication campaigns, your plan members who have yet to finalize their enrolment or designate their beneficiaries, or who need to review their investment instructions will receive a message inviting them to do so.

More details on the message about reviewing investment instructions

This message will encourage your plan members to make sure their investment instructions still correspond to their situation so they can achieve their savings goals. It will be sent to plan members who have never updated their investment instructions or who haven’t updated them for 2 years or more.

Do you want your plan members to receive our automated communications?

Contact your client relationship manager now, and we’ll set it up.

Our enhanced digital solutions are always evolving, practical and available 24/7 to help your employees achieve their savings goals, as announced last May Opens in a new window..

We’re pleased to see that Group retirement savings plan members value our digital tools and are using them more than ever!

In addition, between April 6 and June 6, the Savings shouldn’t be puzzling Opens in a new window. contest encouraged our plan members to download the new Omni Desjardins app and access their Group retirement savings account. The participation rate more than doubled compared to the results of the fall 2020 contest. Clearly, plan members are now more connected!

Learn more

Check out our Communication and education Opens in a new window. page to find out about our digital tools and how we can support your plan members’ financial wellness. While you’re there, watch our virtual guide Penny’s video presenting Omni and our Wellness Centre.

Communications to plan members

In the coming days, we’ll send your plan members an email encouraging them to:

• Keep using our digital tools
• Sign up for the new intermediate-level budget management webinar

Promotion of the digital offer

We also encourage you to use these posters to promote Desjardins’ Group retirement savings digital offer to your plan members.

8.5 x 11 poster (PDF, 797 ko) External link. Opens in a new window.

11 x 17 poster (PDF, 797 ko) External link. Opens in a new window.

Still paying contributions by cheque, e-transfer or online payment? A PAD payment could help you save time and energy.

What’s a PAD?

A pre-authorized debit (PAD) is an authorization you give to Desjardins to withdraw the contribution amounts from your company’s bank account when you remit contributions to your plan.

Why change your actual method to PAD?

Because it’s quick, easy and reliable. A PAD is automatically triggered when you send us your contribution list and then the exact amount is withdrawn from your account.

Here are some of the advantages of going with PAD:

• Saves you the extra step of sending in the contributions by cheque, e-transfer or online payment
• Requires only one operation
• Makes sure that your payment and your contribution total balance
• Avoids extra processing delays

You keep control

You control when the withdrawals are made and how much is withdrawn, since the PAD is triggered when you send in your contribution list. Also, the PAD doesn’t permit any other types of transactions to be performed in your account.

How to enrol

Simply fill out the PAD for businesses form Opens in a new window.. It’s available in the Forms section at dfs.ca/PlanSponsor Opens in a new window., or you can also contact your plan administrator or Plan Sponsor Services by email at grs_plansponsor@dfs.ca or by phone at 1-888-510-4762, from 8 am to 5 pm (ET), Monday to Friday.

Please disregard this article if your plan has immediate vesting.

What is vesting?

Vesting can be used as a strategy to retain employees. It’s subject to plan membership or employment requirements (as defined by plan rules) up to a maximum of 24 months. Employees are encouraged to remain in employment, failing which they forfeit their employer contributions.

What happens if an employee leaves before employer contributions are vested?

If you offer a deferred profit-sharing plan (DPSP) or a defined contribution (DC) plan without immediate vesting, non-vested employer contributions are returned to you. The benefits forfeited in a given year must be used by December 31 of the following year. This means that the amounts forfeited in 2020 must be used by December 31, 2021.

What happens to forfeited benefits?

Depending on your plan rules, you can:

• Pay for all or part of the contributions you would normally make to your plan
• Pay the fees you are responsible for
• Receive forfeited amounts in cash or by bank transfer less applicable taxes
• Distribute the unused benefits to your plan members

If you choose the last option, you have to let Desjardins know whether you would like the unused benefits to be distributed evenly among all employees or on a pro rata basis.

If you haven’t already done so, please contact your client relationship manager or call Plan Sponsor Services at 1-888-510-4762 to let us know what you would like to do with these forfeited benefits.

Your employees who are turning 71 this year will need to transfer the assets in their retirement savings plan to a retirement income vehicle (RRIF, LIF, annuity, etc.).

As of September, Desjardins will send these employees a statement outlining their options. They will then have until December 31, 2021, to make their choice.

To avoid errors, you should:

• Check that we have the correct address and date of birth on file for these employees, and make sure their names don’t show up in your Missing Information Report.
• Let us know if you plan on remitting any contributions for these employees between now and the end of the year. If so, we’ll need to receive the contributions no later than December 15, 2021; otherwise, they’ll be returned to you.

If you have any questions, please call your plan administrator or Plan Sponsor Services at 1-888-510-4762.

Desjardins Global Asset Management (DGAM)

On June 8, 2021, DGAM announced that Eric Bergeron has joined Guy Lamontagne’s Senior Investment Strategies Department as Investment Risk Management, Expert Advisor. Eric joined the team on June 14, 2021. In addition, DGIA also announced the departure of Marie-Michèle Brault, a credit analyst in the fixed income team. Marie-Michèle left DGIA on June 9, 2021. The sectors previously under her authority are now covered by the team’s 2 senior analysts.

Royal Bank of Canada (RBC)

On June 18, 2021, RBC, which manages the PH&N Funds, announced the imminent retirement of Bill Tilford, Head of Quantitative Strategies, including the RBC QUBE Global Equity mandate, a component of the PH&N Balanced Fund. His supervisory responsibilities will be transferred to Jaco van der Walt, Head of Research and Quantitative Investments. Bill Tilford’s last day at RBC will be October 31, 2021.

MFS Investment Management^®

Mawer Investment Management

On July 8, 2021, Mawer announced that effective January 1, 2022, Peter Lampert, CFA, will take on the position of Senior Manager of the International Equities Strategy. David Ragan, CFA, will remain co-manager of this strategy.