Canadian Lawyer

May 2020

The most widely read magazine for Canadian lawyers

Issue link: http://digital.canadianlawyermag.com/i/1240413

Contents of this Issue

Navigation

Page 1 of 59

Lawyers Financial products and plans are sponsored by The Canadian Bar Insurance Association (CBIA). Lawyers Financial is a trademark of CBIA. CAAT Pension Plan is a trademark of Colleges of Applied Arts and Technology Pension Plan. 03/2020 Sign up to receive updates at lawyersfinancial.ca/pension Defined Benefit Pension Plan for Law Firms The Bottom Line DBplus will provide a guaranteed retirement income that is paid monthly for life. On average, a member who participates over their entire career in DBplus is expected to receive approximately $8 in pension benefits for each $1 they contribute. DBplus is expected to launch for the legal community in mid 2020. Most law firms have no pension arrangements at all. But that's about to change. Lawyers Financial is partnering with CAAT, an $11-billion, not-for-profit trust, to launch DBplus, a defined benefit pension plan for law firms of any size. DBplus eliminates the funding risk for employers and creates a guaranteed retirement pension income for lawyers and staff. Everyone benefits. For employers • Attract and retain top talent. • Reduced costs, risks and administration. • Eliminates compliance and fiduciary risks of administering a pension. For employees • Earnings are predictable. • Reduced stress – no complex investment decisions. • Consolidate existing registered funds into DBplus.

Articles in this issue

Links on this page

Archives of this issue

view archives of Canadian Lawyer - May 2020