Employer Receipt Report
On October 17th, GSI sent each employer a listing of all the pension contributions and benefits premiums that we have received for each of their employees to date.
Please review the listing carefully and reconcile it to your records. This is a great way to detect errors prior to year-end, when it may be more complex and costly to correct.
Let us know if you notice any discrepancies.
The life insurance rates paid to Manulife will be changing for 2024. The revised taxable benefit calculation form will be available December 1 on the Forms page as you prepare for your 2024 payroll. Please use the new form to determine the monthly withholdings base for 2024.
Short-term disability (STD) benefits kick in after 14 consecutive days of absence due to medically supported illness or injury. Sometimes medical leaves that seem like they will be short, end up becoming more serious. It’s easier to implement the STD if some planning has been done in advance.
New and Departing Employees
Do you have new employees? Employees who have changed marital status or have recently had a new baby? Employees who are leaving to pursue other opportunities?
All of these situations require paperwork to be filed — for the benefit of both employer and employee.
Please keep GSI informed!
We encourage all Treasurers to review the GSI website from time to time to ensure you are not missing anything.
If you are a new Treasurer and would like an orientation, please contact our office.
There are just a few congregations/employers left that continue issuing a monthly cheque. We strongly encourage you to move to the automatic electronic payment that is scheduled for the 15th of each month.
Year-End Opportunity to Change Benefits Module
As we move to the end of the year, members will have the opportunity to reflect on their benefits needs and select their benefits module option that would start on January 1st. Members can move to an adjacent module (e.g., from green to teal) by filling in a Group Benefits Enrollment form and submitting it to the GSI office by Monday, December 18, 2023.
This is a good time to meet with your pastors and other employees to see if they plan on making any changes, and then discuss how any additional premiums will be paid. Employers are required to provide their employees with the Blue module. Any other arrangements are as per the agreement between the employer and Plan Member.
New Reporting Requirement on T4/T4A
with Introduction of the Canadian Dental Care Plan
Last spring, the federal government announced the new Canada Dental Care Plan (CDCP).
Details are still being finalized, but it has been announced that new boxes will be added to the T4 and T4A forms asking employers to report whether their employees have access to dental benefits of any kind.
Short-Term Employees Are Still Eligible for the Plans!
Sometimes a congregation or other employer will engage employees on a short-term contract. You may bring someone in for a special project, for example, or have a temporary administrative assistant filling in when your regular employee is on leave.
Since 2017, there has been no waiting period before an employee becomes eligible to join the ELCIC Pension and Benefits plans. This is great for new employees, who can rest assured that they can access healthcare and begin saving for retirement as soon as they begin work.
However, it also means that if short-term employees meet the salary requirement, they need to be enrolled in the Plans — with at least Blue-level benefits — even if their period of employment is expected to be short. The salary requirement is monthly earnings of 25% of YMPE; in 2023, that was $1387.50/mo.
For more information about eligibility, please visit this page on the GSI website.