Who is the IPP plan sponsor?
The plan sponsor is the corporation employing the member and paying the member’s T4 income. IPP contributions are essentially a portion of the members T4 income transferred via the corporation to the plan funding vehicle. IMPORTANT: An IPP may have more than 1 plan sponsor, provided each plan sponsor pays (or has paid) T4 income to the member. Our actuarial reports will pro-rate the members actuarial liability during a calendar year based upon T4 income from that plan sponsor divided by T4 income from all plan sponsors. Note that our fees increase when the IPP has more than 1 plan sponsor.
The plan sponsor is the corporation employing the member and paying the member’s T4 income. IPP contributions are essentially a portion of the member’s T4 income transferred via the corporation to the plan funding vehicle. IMPORTANT: An IPP may have more than 1 plan sponsor, provided each plan sponsor pays (or has paid) T4 income to the member. Our actuarial reports will pro-rate the member’s actuarial liability during a calendar year based upon T4 income from that plan sponsor divided by T4 income from all plan sponsors. Note that our fees increase when the IPP has more than 1 plan sponsor.
