On April 25, 2019, OPTrust announces that it has enrolled the first nonprofit organizations to the OPTrust Select Plan. This is OPTrust’s new defined benefit offering.
In total, seven (7) employers and two-hundred and fifteen (215) members have joined OPT Select. An additional seventy organizations (70) from across Ontario have applied and are in the process of joining those already enrolled.
The organizations joining OPTrust Select provide a range of essential services within the nonprofit sector including disability supports, settlement services and care for seniors. OPTrust Select is the first and only sector-wide pension plan recommended by the Ontario Nonprofit Network.
OPTrust Select, which offers a defined benefit pension at a moderate cost, will provide members with a steady stream of secure, reliable retirement income for life. The plan is targeted to the Ontario workplaces in the broader public sector, charitable and nonprofit groups that do not have a workplace defined benefit pension plan but may have a defined contribution plan, a group RRSP or no retirement savings arrangement at all.
This is a great accomplishment and will provide a more meaningful, retirement benefit for a wider range of hardworking not-for profit sector employees.
For more information about OPTrust Select, please visit optrustselect.com.