SARC

SARC Pension Plan

The SARC Pension Plan is a Defined Contribution Pension Plan serving members for over 25 years. The SARC Pension Plan has over 100 divisions encompassing more than 4,200 individual plan members. At March 31, 2017, the SARC Pension Plan had assets in excess of $82 million and the return on the Balanced Fund, which holds the majority of the participant funds, had an annual return of 10.0% with an 8.9% return over 5 years.

The SARC Pension Plan is a registered pension plan with a 4% employee contribution and a 4% employer match. There are 6 fund options available for plan members to choose from including  the Money Market Fund, Canadian Fixed Income Fund, Balanced Fund, Aggressive Balanced Fund, Canadian Equity Fund and the MFS LifePlanTM  retirement funds.

If you require additional information or wish to participate in the SARC Pension Plan, please contact John Friesen, Manager, Payroll & Benefits at 306-933-0616 or by email.

If you are a SARC Member, you can access additional information on SARC’s pension plan via the Member Manager Resource Area.

 

Employee Group Benefit Plans

Participation in the Group Benefit Plans is open to SARC Members and Non-Member organizations. SARC administers three benefit plans; currently, there are over 110 participating employers and nearly 2,000 employees receiving coverage under the plans. Although there are three benefit plans administered by SARC, currently only one (Plan #102688) is open to new members. The current service provider is Sun Life Financial.

The Base Plan consists of:

  • Basic Life Insurance
  • Accidental Death, & Dismemberment (AD & D)
  • Long Term Disability (LTD)
  • Single Dental

Additional coverage options are:

  • Short Term Disability (STD)
  • Family Dental
  • Single Health
  • Family Health
  • Dependent Life Coverage
  • Optional Life Insurance

Organizations can customize the plan with coverage that suits their needs and meets their budget. Once enrolled and plan options have been chosen, an organization is considered a “participating employer”. A participating employer may enhance the plan option choices at any time after having joined the plan; however, it cannot revert back to a lesser coverage. For example, if a participating employer chooses to add STD, it does not have the option to discontinue it.

The Advantages of Participating in SARC’s Benefits Program

By collectively joining forces as an association, the benefits plan available through SARC offers the following to its Members:

  1. Economies of scale of insurer expenses – The larger a group size, the lower the expenses required by the insurer to administer the benefit program which means less premium is used to cover administrative expenses. 
  2. Favourable coverage levels – Basic Life and LTD are eligible for higher maximums, since the risk can be spread over more people.
  3. Sharing the risk saves money – Larger employer groups have access to more options and can share the risk which results in lower costs.
  4. Rate stability – With a large plan risks are spread across a large population that leads to better rate stabilization
  5. Favorable negotiation position – SARC’s plan has over 60 CBOs and 2,000 members, all with one insurance company, which allows for stronger negotiation in renewal actions. 
  6. Flexibility and choice – You can choose to add one or all of Short Term Disability (STD), Extended Health Care (EHC), Vision Care, Family Dental, Dependent Life and Optional Life if you would like to increase the benefit plan offering. 

If you require additional information or wish to participate in the SARC Group Benefit Plan, please contact John Friesen, Manager, Payroll & Benefits at 306-933-0616 or by email

If you are a SARC Member, you can access additional information on SARC’s benefit plans via the Member Manager Resource Area.