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Normandin Beaudry

Administration of defined benefit pension plans

Members’ data update and annual statements

  • Periodic data update
    • Validation of member eligibility and data
    • Reconciliation of cashflows with the fund custodian
    • Membership reconciliation
    • Production of lists and reports for the plan administrator
    • Preparation/review of pension adjustments (PAs) 
  • Production of annual statements for active, retired and other inactive members
  • Preparation /support for annual information returns (AIRs)

Benefits calculations

  • Preparation of statements of benefits, option forms and administrative forms required in the event of termination of membership, retirement or death
  • Preparation of statements of benefits in the event of legal separation or marriage breakdown and division of benefits, when applicable
  • Preparation of payment authorizations to the fund custodian
  • Indexation of pensions for retirees
  • Implementation and management of transfer agreements and past service buybacks
  • Preparation of pension adjustment reversal (PAR) and past service pension adjustment (PSPA) statements

Available tools

  • Administrative procedures guide, including all required forms
  • Information booklets and internal by-laws, in compliance with the legislation
  • Tools for updating and calculating benefits
  • Web-based solutions tailored to the diverse needs of pension plan administrators
    • Consultation of members’ data and documents
    • Changes to members’ data
    • Retirement income projection

Leading edge expertise

  • Web-based solutions for management of pension committee meetings
  • Web-based solutions available to pension plan members
  • Documentation, implementation or revision of administrative procedures
  • Audit and optimization of processes
  • Customer service, presentations to employees and retirement planning sessions