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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 inform the employer of the amounts due via e-mail sent from the secure employer site.
The employer may
remit the funds or data through the biweekly data feed or by cheque to OPTrust.
- 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.
3) OPTrust updates the member’s file
- 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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Payments must be sent by the employer. OPTrust cannot accept direct payment from the member/employee.
Revised December 2009
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