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| Self-Funded Leave Arrangements |
Self-funded leave arrangements are a means for employers to help employees accumulate savings for a leave for educational or other purposes.
Designed to help your organization:
- Expand your incentives program to reward and retain highly valued employees.
- Provide peace of mind for both you and your employees knowing that the funds held within the plan are in the hands of a professional trustee.
Concentra provides:
- Skilled professionals to continuously monitor and interpret the Income Tax Act and Canada Revenue Agency (CRA) administrative policies.
- Preparation and execution of trust agreements.
Contribution processing.
- Safe custody of the plan assets.
- Release of funds to individual employees during the leave of absence.
- Complete plan reporting for the employer, with individual plan statements for each employee participating in your program.
- Preparation and filing of the required annual tax return.
- Easy access for your organization’s staff to obtain ongoing support and assistance via phone, fax or email.
Your organization:
- Determines which employees are eligible to participate.
- Retains Concentra to receive and hold a defined portion of each participating employee’s salary for future leave of absence purposes.
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