advantage
C anadian C E B S N E W S L E T T E R
December 2013 | Volume XXXI | Number 3
issue HIGH L IG H T S
Computer-Based Testing
Coming in 2014 | page 2
Computer-Based Testing
2
Online Study
4
Graduate Recognition
5
2013 Symposium
Highlights8
Online Study
Enroll Now—
Classes Begin in January!
page 4
Course Corner
12
Resources for You
and Your Employer
13
News in Brief
14
CEBS Study Materials
15
CEBS Information
16
Published for registrants of the Certified
Employee Benefit Specialist ® program.
CEBS Department | December 2013
SANDRA L. BECKER, CEBS | Director, CEBS/ISCEBS
LINDA S. BIELSKI, CEBS | Director, CEBS Field Services
CEBS Graduate Recognition
page 5
SHERI BEARDEN-MILLER | Manager, Instructional Services
JANEL HYNEK | Administrative Assistant, CEBS Field Services
LAURA J. JESKE, CEBS | Administrator, CEBS Operations
MONICA PETTS | Administrative Manager—CE
ERIKA R. TURNER, CEBS | Manager, CEBS Operations
BOBBIE YODER | Assistant Director, Technical Services
CHRIS VOGEL, CEBS | Editor
With the exception of official CEBS announcements, the
opinions given in articles are those of the authors. The
International Foundation disclaims responsibility for views
expressed and statements made in articles published.
©2013 International Foundation of Employee Benefit Plans, Inc.
ISSN: 0895-9226
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advantage | December 2013 | 2
Computer-Based Testing
to Debut in 2014!
G
et ready to put away the No. 2 pencils and forget about the fill-in-thedot answer sheets and sealed exam
booklets. These testing icons will fade into
the past as the CEBS program transitions to
computer-based testing (CBT).
In April 2014, CEBS exams will be available year-round, at various Prometric Testing Centres in Canada. You can take exams
at your convenience—to meet your own personal schedule. For those who prefer to sit
for exams during nonbusiness times, evening and Saturday hours will be available in
most areas. Grade results will be displayed
on the screen at the end of the exam, and
you’ll receive a printout to take back to your
employer to speed your reimbursement.
CEBS will also add a summer session of online study classes to accommodate those
who want to continue their studies yearround.
“We are thrilled about this initiative,”
states Ann O’Neill, academic director of the
Canadian CEBS Program at Dalhousie University. “The three-day, June/December
window, pen-and-paper testing model definitely presented challenges to our working
professionals. Computer-based testing
(CBT) is an efficient way to provide a se-
cure, consistent, individualized environment for certification while significantly
enhancing the candidate experience. It will
dramatically improve access and flexibility.
Candidates will be able to schedule their exams on a day and at a time that is convenient for them. In addition, more frequent
and longer testing windows will facilitate
faster completion for those who have felt
constrained by the limited testing schedule.”
Over the years, the CEBS program has
maintained the highest standards of excellence. That’s why CEBS exams are not easy—
but now they are a lot easier to take! The
exam format for computer-based tests will
not change. The same types of multiplechoice questions presently used in paper-andpencil tests will be converted to a computerized format. And, under Dalhousie’s
continuing direction, you will find the same
high-quality exams and study materials that
you would expect from the leading and mostrespected designation in the benefits industry.
The migration from pen and paper to
CBT will start after the December 2013
exam session. “We definitely have work to
do in the coming months to keep CEBS
candidates informed,” comments O’Neill.
“We will be providing tools to introduce the
new ‘look and feel’ of a CEBS exam, demonstrating how to navigate through the
CBT version as well as providing information on new operational procedures, including registration and scheduling processes and site administration policies.”
As the end of the year approaches, why
not renew your commitment to professional development by ordering your next
set of study materials and setting a weekly
study schedule? Then solidify that commitment by applying for an exam as one of the
first in your area to take a computer-based
CEBS exam.
Now, more than ever, you can count on
CEBS to give you the tools that will help you
move ahead in your career. Take advantage
of the increased knowledge and performance that you attain from CEBS. It’s a powerful combination that can lead to immediate recognition and career enhancement!
Policies and Fees
Examination applications filing instructions and procedures have greatly changed
for tests being administered by CBT
through the Prometric Testing Centres. The
following information is an overview of the
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new examination policies and fees and will be in effect when computer-based testing begins on April 15, 2014.
You will select one of the four CEBS testing windows when filing an exam application.
• #1—January 15-March 15
• #2—April 15-June 15
• #3—July 15-September 15
• #4—October 15-December 15
Payment of the examination application fee establishes eligibility for one testing quarter window.
Exam Applications
$380 per examination. The fee is discounted to $355 if you are an
active member of the International Society of Certified Employee
Benefit Specialists (ISCEBS) or the International Foundation of Employee Benefit Plans (IFEBP). You may print out an application
form, submit online or request one from CEBS at (800) 449-CEBS,
option 3.
Expired Eligibility
If you do not transfer your examination and fail to take it before
the eligibility period has expired, you must reapply for the examination at the full fee of $380 ($355 with discount). If you would like to
reapply for the exam, you may print out an application form, submit
online or request one from CEBS at (800) 449-2327, option 3.
Extension
$125 per examination. You may extend your examination to a
future window with payment of a $125 fee. Your request must be
received by the end of the window. For example, if you elected to
take your examination in the second testing window, April 15-June
15, you may extend the examination fee at any time before June 15,
to a future window. After June 15, the full exam fee of $380 ($355
with discount) will apply. If you would like to extend your exam(s)
you may print out an application form, submit online or request
one from CEBS at (800) 449-2327, option 3.
Retake
$175 per examination. If you receive a nonpassing grade for a
computer-based examination, you may reapply for the exam at the
reduced fee of $175. You may retake the exam during the same testing
window or a future testing window. You can reapply at any time; but
you must wait until you receive your new confirmation letter from
CEBS before you schedule an appointment to retake your examination. Reestablishing your eligibility for your retake exam can take
7-10 working days as CEBS must receive your initial grade before
processing your new eligibility. If you would like to retake an exam
due to a nonpassing grade you may print out an application form,
submit online or request one from CEBS at (800) 449-2327, option 3.
Computer Based Testing—Prometric Sites
For complete address information,
visit the Prometric site at www.prometric.com
British Columbia
Burnaby, BC
Vancouver, BC
Quebec
Montreal, QC
Nova Scotia
Halifax, NS
Alberta
Edmonton, AB
Calgary, AB
Newfoundland
St. John’s, NL
Saskatchewan
Saskatoon, SK
Additional Locations
in the United States
Presque Isle, Maine
Sault Ste. Marie, Michigan
Troy, Michigan
Buffalo, New York
East Syracuse, New York
Rochester, New York
Erie, Pennsylvania
Pittsburgh, Pennsylvania
Williston, Vermont
Spokane, Washington
Manitoba
Winnipeg, MB
Ontario
Hamilton, ON
London, ON
North York, ON
Ottawa, ON
Toronto, ON
No Show/Late Cancel
$75 per examination. You will be assessed a $75 penalty fee for
lost computer time if you do not cancel your appointment on time,
if you fail to show up for your appointment, or if you arrive too late
for your appointment. Upon payment of the penalty fee, you can
make another appointment in the same testing window without
payment of additional examination fees. This fee may be assessed
in addition to the above fees if the testing appointment is not
changed or canceled on time.
On-Site Testing Option
If you are not located within 130 kilometers (80 miles) of a Prometric Testing Centre, CEBS will work with you to set up testing within
your organization. There are certain technology and administration
requirements that need to be met. Please contact the CEBS Customer
Service Department at (800) 449-2327, option 3, for more information.
ISCEBS Fellow Examination
CEBS graduates who elect to take the ISCEBS continuing education exam will be able to test during the second testing window—
between April 15 and June 15. This format offers flexibility and convenience to those seeking fellowship status. Additional
details can be found on the Society’s website at www.iscebs.org.
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Online Study
C
EBS online study classes are a great
way to enhance your studying and
help you prepare for an exam. By enrolling in an online study class, you’ll have
Internet access to your class seven days a
week, 24 hours a day, giving you the flexibility to choose when, where and how you
want to study. And with computer-based
testing coming in 2014, CEBS will offer a
summer session of online classes to help
you continue your studies year-round.
CEBS online instructors are benefits
professionals with real-world experience.
Once you enroll, you will be provided
with:
• A structured syllabus to guide you
through the course information
• Supplemental assignment notes that
correspond to the readings of the
Learning Guide and textbook
• An audio overview of the material for
each assignment
• Interactive quizzes and learning activities help monitor your progress.
• At least one live interactive review session (most classes even include recordings of previously held review
sessions)
• A discussion board to allow you to ask
questions of your instructor and interact with other students
• Some classes also provide supplemental course information with additional
resources such as current articles and
websites.
Classes begin again soon—Enroll in online study today!
Spring 2014 Online Class Schedule
February 3-May 2, 2014
GBA 1—Principles of Group Benefits
GBA 2—Applications of Group Benefits
GBA 3—Health Care Economics and
Issues
CMS 2—C ompensation Concepts and
Principles
February 17-May 16, 2014
RPA 2—Asset Management
RPA 3—Government-Sponsored
Benefits
CMS 1—Compensation Concepts
and Principles
Summer 2014 Online Class Schedule
May 19-August 15, 2014
GBA 1—Principles of Group Benefits
GBA 2—Applications of Group Benefits
GBA 3—Health Care Economics and
Issues
RPA 3—Government-Sponsored
Benefits
“My journey for earning my CEBS designation lasted six years. It was hard work and well worth the effort.
The teachers’ notes were very helpful and knowing they were available whenever I needed answers to
my many questions made things easier. The CEBS online study program is well designed and is part of
the reason why I was able to earn my designation.”
Manuela Del Dotto, CEBS
Analyst, Standard Life Assurance Co., Montreal Quebec
Meet Julie Poroznuk
RPA 3 Instructor
Julie Poroznuk, B.Ed., CEBS, ABC
Owner of JP Communication
Calgary, Alberta
Ms. Poroznuk is a communication consultant specializing in pension and beneJulie Poroznuk,
fits communication. She holds a bachelor
CEBS
of education degree from the University of
Saskatchewan and earned the certified employee benefit specialist designation in 2000. She also holds an accredited business communicator (ABC) designation from the International
Association of Business Communicators.
After ten years as an educator in English and business education and 15 years as a communication consultant with Mercer,
she launched a career as an independent consultant in 2006. She
provides pension, benefits and total rewards communication
services for a wide variety of Alberta-based companies, including a number of large union pension plans. Ms. Poroznuk has
been teaching employee communications at the University of
Calgary since 2007. She started teaching the RPA 3 online
course in 2012 and conducted the peer review of the annual
course revisions for the fall of 2013.
“I believe that it’s important to keep the course material interesting and relevant by examining the impacts of things that are
happening in the news today. The annual course revisions completed for each fall session are not just necessary to update changes
in legislation and processes. They are also signposts that will lead
us to discover the intriguing controversies and consultations that
were necessary to achieve needed improvements to our important
government programs.”
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Graduate Recognition
New CEBS Graduates Were Recognized at the
Conferment Ceremony During the ISCEBS
Symposium in Boston, Massachusetts
Special tribute was given to the new CEBS graduates at this year’s conferment ceremony. All new graduates from the Canadian and U.S. programs were invited to attend this annual event, held in conjunction
with the ISCEBS Employee Benefits Symposium. Congratulatory remarks were made by the International
Foundation President and Chair of the Board George
Laufenberg, CEBS; Ann O’Neill, Canadian CEBS Academic Director; Dr. Peter Cappelli, U.S. CEBS Academic
Director; and ISCEBS President, Gordon Erley, CEBS.
New CEBS graduates and GBA, RPA and CMS
designees are honoured at the Sunday conferment ceremony.
Graduates stand to recite the CEBS pledge.
CEBS Canadian Academic Director Ann O’Neill
extends her congratulations to the new graduates.
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Graduate Recognition and the 20th Anniversary
of the Toronto Area Chapter of ISCEBS
N
ew Canadian CEBS graduates as well as GBA, RPA and
CMS designees and new ISCEBS fellows had the opportunity to be honoured at the CEBS graduate recognition
event that was held at the Hilton Toronto Hotel in Toronto, Ontario on November 7, 2013. Adding to this prestigious event was
the celebration of the 20th anniversary of the Toronto Area Chapter of ISCEBS.
Michael Wilson, CEO of the International Foundation and the
International Society, led the celebration with his opening remarks.
Ann O’Neill, Canadian CEBS Academic Director, added her congratulations to the distinguished guests, as well as her thoughts on
the impact that they will have on the employee benefits profession.
“For many reasons, when I think about the future of CEBS . . . I am
so excited. The most important reason being—we have you to call
upon—as champions and influencers today and visionaries of tomorrow,” comments O’Neill. “I often hear, ‘no one chooses benefits
as a career.’ This may be true, or not, but how we got here (whether
we chose this career or it chose us) does not lessen its significance
or importance. As we move further into models of defined contribution and consumerism in both retirement and health care, your
influence and impact on people’s thinking on these issues, innovative solutions and ultimately their well-being will make a difference,” O’Neill went on to state. “With wide and deep reach into
different corners of this industry, you wield the power of community building at an individual level. You are a source of inspiration
and energy. You are a compelling ‘why’ for like-minded others
. . . why choose this career, why commit to a professional credential, why stay connected to ISCEBS, why give back to your industry.
With your experience, knowledge and connectedness to the industry, we can learn from you . . . how CEBS can provide the kind of
long-term knowledge required to address unforeseen events and to
seize opportunities not yet imagined. We haven’t even imagined
how far we can go.”
The 2013 Toronto Area Chapter president, Joan Bonkowski,
CEBS, led all of the graduates in the CEBS pledge. She paid tribute
to the past and present boards of the chapter—citing their vision
and dedication as a key reason for the success of the chapter.
Adding his congratulations and remarks was Wayne Murphy,
CEBS, a past president of the Toronto Area Chapter and the newly
elected 2014 president of ISCEBS. Murphy reminded the audience
that we are all ambassadors of the CEBS program—and have the
responsibility of promoting the CEBS designation and the benefits
industry as a whole. He encouraged participation in the local
chapter—noting the personal benefits received will far outweigh
the cost of the membership dues. As part of the benefits community, he challenged the new graduates to help work toward finding
the strategic solutions to the challenges that lie ahead.
A reception followed the recognition event. New graduates,
chapter members and their guests enjoyed great food, beverages
and most importantly, conversation. Congratulations to all!
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Graduate Recognition (continued)
CEBS Graduates
(Left to right) Mureth Rhone, CEBS, Rogers Communications;
Carol Bisson, CEBS, Rogers Communications; Kathleen
Malone, CEBS, Desjardins Insurance; Veena Lewis, CEBS, Green
Shield Canada; Constantina Judzinski, CEBS, Aon Hewitt; Lynn
Georgeff, CEBS, Town of Newmarket; Jennifer Kruusi, CEBS,
Great-West Life; Peter Bodi, CEBS, Comprehensive Benefit Solutions;
Kelly Logan, CEBS, Great-West Life; Jonathan Ho, CEBS, Sun Life
Financial; Amee Wadman, CEBS, Morneau Shepell; Vanessa
Chung, CEBS, Sun Life Financial; Dolorese Bujold-Wright, CEBS,
Bujold Colburn Employee Benefits Agency; Erika Chifa, CEBS,
CIBC Mellon.
GBA, RPA and CMS Designees
(Front row, left to right) Anne Marie Callender, CMS, RPA,
Centennial College; Emily Chen, RPA, Great-West Life;
Quice Digba, RPA, Towers Watson;
Carla Chung, GBA, Manion Wilkins & Associates.
(Back row, left to right) Leo DeSumma, RPA, Great-West
Life; Teresa Liu, RPA, Great-West Life;
Iyona Francis, RPA, Pension Office Anglican Church;
Andrew MacKay, RPA, Goodyear Canada;
Sandrine Lam, RPA, Standard Life;
Shirley Tran, CMS, GBA, Manion Wilkins & Associates.
New RPA designee
Terese Liu celebrates
with guest Kent Wong.
New CEBS graduate Kathleen Malone is pictured with Michael Wilson,
International Foundation and ISCEBS CEO, and Ann O’Neill, CEBS
Academic Director.
Toronto Area Chapter President, Joan Bonkowski, CEBS, addresses
the new graduates.
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The Road to CEBS
Kandrice (Kandy) Cantwell, CEBS
Managing Partner
Montridge Financial Group Ltd.
Vancouver, British Columbia
“I
nsurance? Um, yeah . . . thanks, but no thanks.”
That was my reaction when a family friend asked me
whether I wanted to join his employee benefits third-party administrator firm. It was 1996. I had finished my business degree the year
prior and was working in the accounting department at the provincial natural gas provider. The crown corporation was restructuring, and based on
union seniority I knew that I was going
to be job hunting. So I was trying to
stay ahead of the game.
“Insurance? That’s a step above a
Kandrice (Kandy)
used-car salesman!” (This was my
Cantwell, CEBS
second thought, but I don’t think I
said it aloud. Pretty sure.)
Thankfully, he was persistent, and 17 years later, I would buy
him a pint—anywhere, anytime—to thank him for the amazing career he threw me into.
A lot has happened in those 17 years. I started there with a hybrid job managing commission reconciliations, accounting and a
bit of benefits work. It didn’t take long for me to realize that employee benefits was the best fit for me, however, my working in
accounting was a better fit for them. I took an opportunity with
Great-West Life as a service representative, under a deal where I
would become an account representative before the year was
through. That transition parlayed me back onto the consulting side
of the fence, and I joined Montridge as an associate in 2002.
Looking back, I can now say with confidence that studying, stressing
over and finishing my CEBS designation has had a monumental effect on
my career.
I won’t lie—I started taking CEBS® courses only for continuing
education credits. I was not one of those students who hunkered
down and got through in record time. It took me a decade. Within
that decade, I got married, made partner, had a daughter, became
managing partner and traveled every chance I got.
As with everyone, some courses were easier than others. I did
GBA 3 via night school. Economics wasn’t my strongest suit back
in college when all I did was study. So after hyperventilating when
I opened the textbook, I promptly signed up for the class. My exam
prep skills? They involved barricading myself in our living room
for a few days, with my daughter’s IKEA chalkboard/whiteboard
The networking, support and friendships I now have with fellow CEBS
graduates and students from around North America are inspiring.
easel and snacks that I would ration based on each module that I
had mastered. (P.S. Ensure room ventilation. Whiteboard markers
will make you higher than a kite.)
Looking back, I can now say with confidence that studying,
stressing over and finishing my CEBS designation has had a monumental effect on my career. The CMS courses have been instrumental in my managing partner duties, as well as in discussing
human resources challenges and solutions with clients. Courses
such as Health Care Economics have given me a greater appreciation for the advantages and challenges of both the Canadian and
U.S. health care systems. I even met a client while studying at my
daughter’s skating lesson. The hulking textbook was a conversation starter. Those four letters after my name say I am an expert
in what I do, and I know that it plays a role in the growth of our
firm.
Another benefit of my CEBS designation has been attending the
ISCEBS Symposiums and becoming a director with our British Columbia ISCEBS Chapter. The networking, support and friendships
I now have with fellow CEBS graduates and students from around
North America are inspiring. Vancouver is the host city for the
2015 Symposium, and I already have a list of ideas for our chapter
in its hosting duties.
We recently hired for a junior position within our firm, and the
majority of candidates were individuals fresh out of university,
with varying degrees. In every single interview, I said the words,
“There aren’t many people who plan on a career in employee benefits—everyone I know fell into it like I did. And yet, you’d be hardpressed to get any of us to leave. It’s that great a gig.”
What a difference 17 years make. My husband joked last week,
“You’re usually studying in the fall. What are you going to do with
all of your spare time?”
For the last decade, I couldn’t wait to finish. However, as I look
around my office, I still have my last CEBS course materials sitting
on the edge of my desk. They have been there for a year, and I don’t
have the heart to move them. Maybe in 2014.
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New Pension Standards in Western Canada
Aaron Walker-Duncan
Director, Policy Branch
Pension Corporation of British Columbia
Victoria, British Columbia
The following is based on the author’s
presentation at the Symposium.
O
ver the past few years, a number
of provinces in Canada, including British Columbia and Alberta, have been taking a close look at
the question of pension coverage and
Aaron Walker-Duncan
standards. Both provinces are leaders
in modernizing their pension standards to reflect the reality of today’s world.
New pension standards legislation is being introduced in both
provinces. While the two pieces of legislation are independent of
one another, and there are some minor differences, the two governments have been working in partnership to bring forward
largely complementary statutes.
The British Columbia Pension Benefits Standards Act (PBSA)
and the Alberta Employment Pension Plans Act (EPPA) have both
been in place for more than 20 years. A lot has changed over this
time period and, in many ways, the existing laws no longer address
the new complexities in the current pension world. The purpose of
the new legislation is to modernize pension laws and harmonize
pension legislation more closely between the two provinces. The
legislation also reflects the need to have more flexibility in pension
plan design and risk sharing.
A key example of this, in relation to plan design, is the introduction of the concept of jointly sponsored pension plans in which
governance of the plan is shared between the employer and members. Under this concept, there is no need for a collective agreement, and accrued benefits can be cut with the consent of the provincial Superintendent of Pensions. There also would be no
employer liability for solvency deficiency on termination of the
plan.
Another example of a flexible pension plan structure is the introduction of rules for target benefit plans, which is one of the
most significant additions to the legislation. This structure will effectively allow for the sharing of risk between the plan members
and employers. The plan sponsor is able to promise a pension
based on a benefit formula, similar to a defined benefit plan, but
with fixed or capped contributions, similar to a defined contribu-
tion plan. A target benefit plan allows for a reduction in benefits
under certain circumstances if the plan’s investment performance
is not sufficient for the assets to meet the liabilities. This is new territory within Canada and is receiving a lot of attention in the pension community.
The changes brought about by the new legislation also extend
to some of the benefit entitlements. Currently most jurisdictions
in Canada have a two-year vesting requirement, under which
members must participate in the plan for two years before they
are entitled to a benefit from the plan beyond a refund of their
contributions. The new legislation will see a move to immediate
vesting, which recognizes that pension benefits are part of an
employee’s compensation instead of a reward for long service.
This is consistent with changes also being adopted in other jurisdictions.
The new legislation also will introduce new standards for funding, including the concept of a solvency reserve account. While
this will only be applicable for defined benefit plans, the plan will
be able to set up a separate account in the fund that can to be used
to hold any solvency deficiency payments. Regardless of the plan
text language, the sponsor may withdraw prescribed actuarial excess from the account. This isn’t a large issue in today’s environment of unfunded liabilities, but disputes over pension surpluses
have been an issue in the past, and this new concept will attempt
to deal with it.
The purpose of the new legislation is to modernize pension laws and
harmonize pension legislation more closely between the two provinces.
The legislation also reflects the need to have more flexibility in pension
plan design and risk sharing.
The final significant element of the new legislation is oversight,
specifically a new part of the legislation on monitoring and enforcement that allows for increased powers of the regulator. This
includes the introduction of administrative penalties for noncompliance. These penalties can range up to $250,000 for administrators/corporations and $50,000 for individuals, in addition to the
existing penalties. The monitoring and enforcement provisions
also give the provincial superintendent of pensions the ability to
appoint a plan administrator or designate an actuary, conduct a
compliance evaluation, commission an actuarial valuation and recover costs.
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The Organizational Impact of Mental Health Issues
A Call to Action
Joseph Ricciuti
President and CEO
Mental Health International
Toronto, Ontario
The following article is based on the author’s presentation at the
Symposium.
ental health issues have a profound and challenging impact on the health of working populations and the organizations they work for.
Profound because a large part of our wake time is work time,
and work affects us emotionally, socially and financially . . . and
challenging because work and the workplace both influence mental
health for good or ill.
The complexity of these issues
means employee benefit experts and
human resources (HR) professionals
must play a more pivotal, proactive
and strategic role to help mitigate the
harmful workplace risk factors.
The need for action demands a call
to action. Here’s why.
The brutal truths:
• 25% of Americans and Canadians suffer some form of mental
Joe Ricciuti
illness each year. That number
soars to 43% in the U.S. and 37%
in Canada across the lifetime.
• Seven out of ten of those who suffer are in the workplace.
• Depression and anxiety are the most common and disabling
across the greatest number of people and frequently lifethreatening.
• Mental disorders are now the leading and fastest growing
cause of workforce disability.
• Job performance is significantly impaired—sevenfold when
an employee lives with depression compared to one who does
not.
• On-the-job injuries are 40% more likely among employees
with mental health and addiction problems.
• Mental health issues wipe out 4% of the gross domestic product of Canada, U.S. and most European nations each year.
• Stress-related issues represent 40% of employee turnover
costs.
• Almost half of mental health cases are comorbid with other
medical conditions, such as heart disease, diabetes and
cancer.
M
• Suicide is the leading cause of violent death in both Canada
and the U.S.
Emerging issues include:
• Mental injury
—Canadian judicial experience is notable. Courts have recently rendered legal decisions and awarded financial
remedies for mental injuries of acute stress caused by catastrophic psychological harm in the workplace.
—The courts and tribunals also have rendered decisions in
favor of employees for negligence in chronic stress caused
by excessive work demands and the conditions in which
work is carried out, affecting the employees’ ability to
function at work or at home.
—Employers are now being faced with mounting legal pressures to ensure psychological health and safety in the
workplace.
• Workers’ compensation conundrum
—Across North America, on-the-job physical and mental
injuries from acute stress are now being covered by workers’ compensation boards, but there has been a resistance
to accept claims for compensation of mental injury caused
in whole or in part by gradual onset of workplace stress
(chronic stress).
—In Canada, a successful ruling through the country’s Charter of Rights and Freedoms advances the definition of
chronic job stress as an on-the-job injury. Workers’ compensation boards will soon figure into this decision.
• Cognitive impairment
—S cience has now established that depression impairs the
cognitive capacity of working people.
—This is notable because employers in the new global economy put a premium on jobs requiring brain skills and human cognition to ensure business success through innovation and productivity.
—In fact, cognitive deficits are the principle mediator of
workforce performance.
—Return-to-work strategies must take this into account because the functionality of employees is heavily dependent
on cognition and sensory balance under these circumstances.
—The recovery of “functional capacity” or health of employees tends to lag relief and recovery from medical symptoms.
—Therefore, effective treatment plans must be cognizant of
the challenges of returning to work and have an under-
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standing of the cognitive requirements of the job as well as
the individual’s functional state of health.
—This is critical to reducing the risk of relapse.
Hope for the Future
Paying attention to psychological health and safety at work is
simply good business. Employers that set a strategic direction of
improving mental health and well-being at work are rewarded with
improved employee retention and productivity, fewer days lost to
absences, lower health care costs and higher returns on shareholder value.
Personalized medicine using genetic data to make the right
choices concerning treatment offers a lot of hope for the future in
terms of improved care and better health care outcomes for employees.
The same is true of the collaborative model of care to improve
access, clinical recovery and functional return to work. The results
show improved recovery, shorter periods of absence and significant cost savings.
The development and deployment of personalized medicine, in
fact, will increasingly involve training of family physicians by neuroscientists and psychiatrists, which is, in itself, a form of collaborative care.
A Call to Action
The business case for mental health has been made time and
again over the course of the last 15 years, largely from outstanding
academic institutions and researchers in the U.S. and Canada.
In response, the Mental Health Commission of Canada has developed a national standard to help employers create psychologically healthy workplaces that have attracted international interest.
The Internet is also replete with strategies, tools and resources,
many of which are free.
The pathway for action is clearer than ever, yet there has been a
reluctance to act. Inertia, it seems, stems from conflicting business
principles and the value that employers actually put on people.
Yet according to Michael Porter, Ph.D., internationally renowned professor at Harvard University, the call for action is fundamentally a challenge of asset management—the asset being people. In this brain-based economy, the building blocks of productive
capacity will be ideas, inclusion, productive engagement, trust,
loyalty and motivation instead of the inanimate objects of equipment, glass and steel of the old economy.
I call on all employee benefit experts and HR professionals to
become champions of mental health in the workplace. It will require
determination and a passion for the common good it achieves to
ignite excitement in businesses to act. Keep focused and know this
simple truth: Brain health + brain skills = brain capital.
Exam Transfer Credit Awarded
for the FSA Designation
CEBS will now award up to two exam transfer credits if you hold the fellow,
Society of Actuaries (FSA) designation. Two exam credits may be applied toward the
CEBS designation; one credit may be applied to the Group Benefits Associate (GBA),
Retirement Plans Associate (RPA) and Compensation Management Specialist (CMS)
designations. To see what other designations/courses have been approved or for
more information on exam transfer credit, please visit the CEBS website.
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Fall 2013 Revisions
Course
Corner
RPA 1—Retirement Income Programs
CMS 1—Compensation Concepts and
Principles
These courses have been revised for the
December exams. The new study materials
are available from Books for Business.
The course modules are listed below.
RPA 1 Module Titles
1. Canada’s Retirement Income Programs
2. Registered Pension Plans
3. Non-RPP Registered Plans
4. Income Tax Act Regulation
5. Pension Standards Legislation
6. Overview of Governance
7. Funding Methods and Policy
8. Financial Accounting of Plan Assets
9. Investment Management
10.Special Provisions: Multi-Employer
Pension Plans
11. Special Situations: Plan Terminations
12.Special Situations: Surplus and
Reorganizations
13. Nonregistered Plans
CMS 1 Module Titles
1.Compensation Management:
A Strategic Framework
2.Internal Alignment of Organizational
Pay Structures
3.Job-Based Pay Structures—
The Job Analysis Step
4.Job-Based Pay Structures—
The Job Evaluation Step
5.Person-Based Pay Systems
6. External Competitiveness Defined
7.Designing Pay Levels, Pay Mix and
Pay Structures
8. Employee Benefits
9.Pay for Performance: Plan Design and
Performance Appraisal
10. Pay-for-Performance Plans
11.Managing the System: The Impact of
Government and Unions
12.Managing the Pay System: Budgets,
Administration and Communication
13.Managing the System:
International Pay Systems
RPA 3—Government-Sponsored Benefits
This course has been revised. In order to
provide the most updated content possible,
the RPA 3 course is revised annually each
fall; it will be valid for testing from October
15, 2013 through September 15, 2014. This
will help ensure students have current information effected by legislative and regulatory updates.
Books for Business
All CEBS study materials must be
ordered through their website at www
.booksforbusiness.com or by calling (800)
387-1417. See CEBS Study Materials for a
list of study material fees.
Readings Updates
All readings updates are required reading and are subject to inclusion on the national examinations. Previously issued
readings updates are automatically included with all book orders from Books for
Business. Newly issued updates will automatically be sent to candidates who apply
for the respective examination each semester.
Readings updates can be downloaded
directly from our website. www.cebs.org/
readingsupdates
Fall 2013 readings updates are available
and required reading for the following
courses:
Textbook Correction for GBA 1
Textbook: pp. 7-17. Please note the following corrections to the far right column
of Table 7.7: The text should indicate
$10,000 pooling limit with 15% of premium, $25,000 pooling limit with 5% of
premium and $50,000 pooling limit with
2.5% of premium. The pooling limits and
premiums for the bottom three figures in
the chart are correct.
See www.cebs.org/coursecorner for
other corrections.
Upcoming Revisions—Fall 2014
RPA 3—Government-Sponsored Benefits
CMS 3—Human Resource Management
These courses will be revised for exams
taken after September 15, 2014. If you plan
to write the exam for any of these courses
using the current study materials, you
must write the exam on or before September 15, 2014, choosing the spring 2014
exam window (April 15-June 15, 2014) or
the summer 2014 exam window (July
15-September 15, 2014).
GBA 1—Principles of Group Benefits
GBA 2—Applications of Group Benefits
RPA 2—Asset Management
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Resources
for You and Your Employer
Canadian Health and Wellness Innovations Conference
February 23-26, 2014
Disney’s Grand Floridian, Lake Buena Vista, Florida
Now in its sixth year, the Canadian Health and Wellness Innovations Conference continues to offer targeted and timely sessions
that allow professionals to take their education beyond the mechanics of health and disability plan design. You can explore new
trends, share experiences and discover ways to collaborate on strategies to promote a holistic culture of health for you and your plan
participants.
Key Takeaways
• Learn about the latest trends in health and wellness.
• Find out how others have successfully introduced wellness
initiatives to their members.
• Discover ways to motivate plan participants to take part in
the shared responsibility for their own health.
Topics Include
• Defining Wellness
• The Science of Lazy
• Mental Health
• Culture of Health and Safety
• Dental Health
• Holistic Medicine
• Heart Health
Virtual Conference—New in 2014
Watch for information on how you’ll be able to participate in
this conference live from the convenience of your desk or home
and gain access to other cutting-edge resources through a virtual
conference platform. Stay tuned for regular updates.
Who Should Attend?
Trustees, administrators and staff who serve group benefit and
health care plans in the Canadian multi-employer, public and corporate sectors.
Employee Benefits in Canada, Third Edition Revised
by Raymond Koskie, Mark Zigler, Murray Gold,
and Roberto Tomassini, Editors
An introduction to the general principles
and administration of public and private employee benefit plans in Canada. Both novice
and seasoned professionals will find this a useful reference on the legal and administrative
aspects of pension, health and other benefit
programs. Topics include fiduciary responsibility, investment fundamentals, member communications, taxation of benefits and the handling of delinquencies in multi-employer plans.
Interjected throughout the text are current topics such as the challenges associated with family law, socially responsible investing
and funding concerns for public sector plans.
E-Learning Course—
Life Cycle of a Group Benefits Plan
by International Foundation of Employee Benefit Plans
Outlines the insurer’s role and responsibilities at all stages of a
group benefits plan life cycle—prospecting, quoting/proposing,
selling, implementing, servicing, amending/renewing and terminating a group insurance plan. The application of principles of
ethical decision making throughout the life cycle of a group benefits plan is examined from the perspectives of all parties involved—
plan sponsor, insurer, plan advisors and plan members.
Course Outline
• Prospecting a Group Benefits Plan
• Quoting/Prospecting and Selling a Group Benefits Plan
• Selling and Implementing a Group Benefits Plan
• Servicing to Terminating a Group Benefits Plan
• Ethical Decision Making
E-Learning Course—Group Benefits Design
and Administration
by International Foundation of Employee Benefit Plans
This e-learning course outlines the plan sponsor’s role in group
benefits plan management. An overview of key requirements and
issues related to group benefits design, claims administration, premium administration, recordkeeping and communication is provided.
Course Outline
• Introduction to Group Benefits Programs
• Benefit Program Design
• Group Benefits Program Design
• Group Benefits Programs Administration
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News in Brief
Building Sustainability Through Efficiency:
A Pension Model for All Canadians
Considerations of retirement systems have hardened into a rigid
dichotomy of defined benefit and defined contribution approaches,
with risk as the basis for the division. But instead of risk shifting,
better risk sharing would lead to a more sustainable system. Risk
sharing can be apportioned reasonably among employers, employees and retirees, supported by a regulatory framework. Systemic
economic efficiency is needed, best provided by pooling both assets and risks. Asset pooling offers efficiency through professional
management, lower expense ratios and strategies to dampen volatility, and risk pooling also delivers significant efficiencies. Individual accounts can remain as supplements to the core model
based on asset and risk pooling. Innovation can come through expanding the Canada Pension Plan or creating pension delivery organizations for the private sector, modeled on Ontario’s public sector plan administration.
Fuller, Mark J., Benefits and Pensions Monitor; v23 no 4, pp 24-26,
Jun 2013, [0164078]
Don’t Forget About the “I” in ROI
Employers looking at wellness programs are eager to see the return
on their investment but should focus on the investment they are
willing to make. Wellness efforts require substantial planning, documentation, communication and repeated evaluations. Once goals
are established based on cost drivers and employee needs, program
planning should start with consideration of resources on hand.
Studies have identified the average return on investment (ROI) as
three to one, but the numbers vary by company and the level of financial investment available. Programs spending about $50 per
employee per year can raise awareness and build participation, but
for effective risk assessment and targeted intervention, employers
should expect to invest $200 to $300 per employee.
Young, Janet, Benefits and Pensions Monitor; v23 no 4, pp 30-33,
Jun 2013, [0164076]
Looking for a New Consultant?
Since a benefit and pension plan consultant relationship is often
long term, finding the right person is key, usually starting with request for proposal (RFP). The process can yield more than basic
information. Well-framed and open-ended questions should reveal
soft skills such as interaction style, creativity and knowledge, as
well as depth of personnel. Questions should explore possible future events such as a termination or discovery of errors. Billing details should be clearly laid out, including how prices are adjusted
for any changes from the norm. Questions in the RFP and subsequent interviews should be the same for each candidate, and an
evaluation form with weights for each item will provide focus and
a basis for comparison. Includes a directory of pension and benefit
consultants.
Gorham, Peter, Benefits and Pensions Monitor; v23 no4, pp 12-22,
Jun 2013, [0164079]
Quebec Expert Committee Report
on a Sustainable Retirement System
The Quebec Expert Committee released a report on April 17,
2013 containing analysis, conclusions and recommendations for
the Quebec retirement system. The Expert Committee noted that
retirement savings are often inadequate, though public programs
do well at protecting low-income workers, and that while they are
under significant pressures in 2013, defined benefit pension plans
are the best providers of financial security in retirement. In order
to meet the objectives, values and principles they defined in the
report, the Expert Committee made 21 recommendations. These
recommendations include a longevity pension payable to all
workers beginning at age 75, amended legislation to limit the
amount of pension costs carried by participants and a single valuation method to determine funding requirements for all public
and private pensions.
Mercer, Mercer Communique, pp 1-7, Apr 19, 2013, [0163826]
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CEBS Study Materials
GBA 1 Principles of Group Benefits
8021 Learning Guide (2nd edition) 8022 Text—Group Benefits Plan Management (2012 edition), by Advocis. Same text used in GBA 2. $155.00
$ 84.95
GBA 2 Applications of Group Benefits
8031 Learning Guide (2nd edition) 8022 Text—Group Benefits Plan Management (2012 edition), by Advocis. Same text used in GBA 1.
$155.00
$ 84.95
GBA 3 Health Care Economics and Issues
8091 Learning Guide (3rd edition) 8092 Text—The Economics of Health and Health Care (7th edition), by Folland, Goodman and Stano $155.00
$179.95
RPA 1 Retirement Income Programs
8041 Learning Guide $155.00
8042 Text—The Morneau Shepell Handbook of Canadian Pension and Benefit Plans (15th edition), by Gottlieb and Whiston $149.00
RPA 2 Asset Management
8071 Learning Guide (2nd edition)
8072 Text—Fundamentals of Investments (2nd special CEBS edition), by Jordan, Miller and Yuce $155.00
$ 94.50
RPA 3 Government-Sponsored Benefits
8011 Learning Guide (2nd edition) 8012 Text—Canadian Employment Benefits and Pension Guide (special CEBS edition) by CCH $165.00
$ 62.00
CMS 1 Compensation Concepts and Principles
8051 Learning Guide $155.00
8052 Text—Compensation (4th Canadian edition), by Milkovich, Newman and Cole $133.95
CMS 2 Executive Compensation Management
8061 Learning Guide $165.00
8062 Text—Executive Compensation: A Director’s Guide (special CEBS edition), by Côté $130.00
CMS 3 Human Resource Management
8081 Learning Guide $155.00
8082 Text—Human Resource Management (Canadian edition), by Mathis, Jackson and Zinni $139.95
Prices are subject to change without notice.
PLEASE NOTE: GST is applicable to all study materials. GST/HST is applicable to the shipping/handling charges. Study materials are not returnable and no refunds
will be made. We suggest that you order books for the current semester only. QUESTIONS? Call Books for Business at (800) 387-1417.
Order online at Books for Business: www.booksforbusiness.com
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CEBS Information
CEBS Registration Information
Registration, Examination
and Online Study Application
Readings Updates
CEBS News and Help
CEBS CPE Information
CEBS Catalog Request
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