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.
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 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.