Vancouver Foundation and its affiliate, the British Columbia Unclaimed Property Society, joined the C$13.5 billion ($10.1 billion) Colleges of Applied Arts and Technology Pension Plan, Toronto, effective Oct. 1.
The two not-for-profit organizations, which combined have 65 employees and pension plan participants, are the newest organizations to join CAAT's DBplus plan design, a CAAT spokesman confirmed in an email.
The Vancouver Foundation and BCUPS did not have defined benefit plans prior to joining CAAT.
CAAT currently has more than 63,500 participants and is expected to grow by 300,000 in the next six years. The plan is open to new participants from public, private and not-for-profit sectors in Canada.
Participants pay into the DBplus plan at fixed contribution rates, with their respective employers matching dollar for dollar.