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The remittance of missed mandatory contributions can be initiated by either the
employer or OPTrust. For missed mandatory contributions upon enrolment, OPTrust
will normally allow the employer 3 payrolls to catch-up the missed contributions
before initiating the process below.
OPTrust will identify any periods for which the employer has missed mandatory
contributions and calculate the total amount to be remitted, including interest.
We will then send a letter and remittance stub the employer to inform them of
the amounts due.
Upon receipt of the missed mandatory contribution letter, the employer must
remit funds based on one of the following methods.
- Current-year contributions – For current year missed contributions, the
employer will remit the funds/data through the biweekly data feed.
- The employer must ensure that both the contributions and the actual hours
worked for the period are remitted correctly.
- The employer must indicate to OPTrust the payment method and the term of the
repayment.
The missed contributions must be remitted by the final pay date of the year in
which the contributions were missed.
- Contributions from prior years – For all prior-year contributions, the
employer must submit a cheque to OPTrust.
- When submitting a cheque the employer must return the Remittance Stub from the
missed mandatory contribution letter with the remittance.
- If the employer is submitting contributions for the current year and prior
years together, OPTrust will accept a cheque covering all periods
- Once OPTrust receives payment for the missed mandatory contributions (and/or
any corrected data), we will update the member’s file to reflect the
contributions received.
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Important! All cheques are to be made payable to the OPSEU Pension Trust for the full
amount due, including both the employee and employer share as well as all
applicable interest. While the member may negotiate directly with the employer
on payment terms, OPTrust must receive payment for the full amount of the
contributions by the due date. If funds are not remitted on time, a
recalculation of interest will be applied.
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Revised March 31, 2004
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