Retirement and Benefits

CLAC manages two retirement plans—the CLAC Pension Plan and CLAC Group RSP. These plans were created to help members save for their retirement. The retirement income from these plans, along with government benefits such as the Canada Pension Plan (CPP) and Old Age Security (OAS), and your own personal savings, will help you build a strong foundation for your future.

CLAC also manages a range of group benefit plans. Membership with CLAC gives faculty the opportunity to negotiate participation in these plans into their collective agreement (terms of employment). Let us put our plans to work for you!

RETIREMENT PROGRAMS

CLAC Pension Plan

The CLAC Pension Plan is a defined contribution, multi-employer, registered pension plan. The plan was established in 1974 and has grown considerably, with $1.5 billion in assets (as of December 31, 2024). It currently has over 122,300 individual account holders and approximately 665 participating employers, representing a variety of industries across the country.

Proven Performance
The plan has a history of excellent long term performance.

Annualized Net Rates of Return* as of December 31, 2024
1 year	15.02%
3 year	6.77%
5 year	8.11%
10 year	7.33%

*The net rate of return is for the CLAC Balanced Fund – Pension Class, after investment management fees, operating expenses, and applicable taxes have been deducted

Quality Investments
Assets are invested by best-in-class managers who regularly research the markets and invest in high-quality, well-managed companies. The investment managers’ performance is monitored by a board of trustees and the plan’s consultant to ensure it continues to be in-line with expectations.

*CLAC Balanced Fund – Pension Class

Investment Glidepath
The CLAC Pension Plan offers an investment glidepath feature specifically for members aged 53 and above. This feature helps members approaching retirement reduce the investment risk of their portfolio by protecting their retirement savings against short term market volatility. Members eligible for the investment glidepath have the option to opt out based on their individual retirement goals.

Immediate Vesting
All of the money in your account—including your employer’s contributions—is yours as soon as it is remitted and will not be used to pay anyone else’s pension.

Low Fees
Through group buying power and careful management, the cost to run the plan is very low: less than one percent of the plan’s assets each year. This is lower than the average cost of a retail mutual fund, which generally ranges from 1.5 percent to 3.5 percent. This cost covers all of the administrative, investment, communication, and regulatory costs incurred in the operation of the plan. The plan expenses are shared equally among all plan members as a percentage of their account balance.

CLAC Group RSP

Highlights of this plan include:

• The plans assets totalled $564 million (as of December 31, 2024).

• Over 116,300 individual account holders in the plan (as of December 31, 2024).

• There are approximately 360 participating employers, representing a variety of industries across the country.

• Various investment fund options are available to members in the plan. Members can customize their own retirement portfolios based on a variety of pre-built and individual fund options.

• Fees range between 1.095% to 1.625%.

Who Manages the CLAC Retirement Plans?

CLAC Pension Plan and Group RSP Board of Trustees — Each of CLAC’s retirement savings plans is managed by a board of trustees, who are responsible for the overall management of the plan, including plan design, governance, and investment offerings. The board uses skill, diligence, and care to focus on the strategic and long term goals of the plan. It works closely with various external professionals including a delegated investment services team, consultants, lawyers, and accountants to make decisions in the best interest of all plan members. The board consists of three plan members, three participating employers, three CLAC representatives, and one independent trustee.

Plan Staff/Administration — The CLAC Retirement Team is responsible for the day-to-day administration of CLAC’s two retirement savings plans. If you have any questions, the team would be happy to be of assistance!

HEALTH BENEFITS

CLAC offers group benefit plans provided by leading insurers that cover a range of benefits. Some features* of our plans include:

• 100% basic dental coverage

• 100% extended health coverages (chiropractor, physiotherapy, RMT etc.)

• 100% paramedical coverages (psychologist, registered counsellors, etc.)

• Optical coverages

*Subject to plan limitations.

The size of our benefit programs allows us to provide comprehensive plans at lower costs than most individual organizations can secure.

CLAC’s benefit programs provide security and peace of mind for our members and their families. We look forward to working to deliver comprehensive benefits and enhance the well-being of Crandall University faculty members.

Learn How to Join CLAC