What is vesting?

Vesting gives a plan member ownership of the employer’s DPSP contributions.  A DPSP can have a maximum vesting period of two years from the plan enrollment date. If an employee terminates their employment before they vest in the plan, the account value will be forfeited and returned to the employer, and the member’s RRSP contribution […]

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How does a DPSP work?

Only for-profit making companies are eligible to sponsor a DPSP, and only employers can contribute to the plan. Contributions are tax-deductible for the employer and must be made no later than 120 days after the end of the fiscal year.   There is no requirement for an employer to make contributions if they did not generate

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What is a DPSP?

A Deferred Profit Sharing Plan (DPSP) is a workplace savings program that many businesses use for employee incentives, or to help them save for retirement. Only employers can contribute to a DPSP. The annual contribution limit is either 18% of the employee’s annual earned income or half of the money purchase limit (up to $15,390

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What is the plan’s policy on ESG or responsible investing?

We are interested in offering something thoughtful on responsible investing, also known as ESG (Environmental, Social, and Governance), as part of our plan. The plan’s target date funds are managed by BlackRock, which manages more than $10 trillion in assets and serves more than 35 million investors. BlackRock is committed to evaluating sustainability insights and

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What is the employer role in supporting the plan?

As the sponsor of the plan, you would be responsible for: Supporting Common Wealth with the distribution of plan materials Working with us to facilitate employee education sessions Providing an up-to-date file of eligible employees, including information to support payroll deduction processing Providing a payroll file that contains member and, if applicable, employer contribution details

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