Self-Funded Leave Arrangements
Self-funded leave arrangements are a means for an employer (business member) to help their employees accumulate savings for a leave for educational or other purposes.
Designed to help your business member:
Expand their incentive program to reward and retain highly valued employees.
Provide peace of mind for their employees knowing that the funds held within the plan are in the hands of a professional trustee.
Skilled professionals to continuously monitor and interpret the Income Tax Act and Canada Revenue Agency (CRA) administrative policies.
Preparation and execution of trust agreements.
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 business member’s staff to obtain ongoing support and assistance via phone, fax or email.
Your business member:
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.
Confidentiality & Privacy
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