Interaction Between Private and Public Plans

by Domenic Barbiero

In Canada, many employee benefits are provided through a combination of government-sponsored programs and private plans. The level of benefits provided by each system tends to be coordinated, though it varies depending on the benefit type and individual needs. The government-sponsored programs provide a base level of benefits through universal programs. Private plans are used to supplement these base benefits and achieve the desired level of benefit. This article explores the different types of benefits and the interaction between government programs and private plans.

Health Care

Health care in Canada is provided primarily through a government-sponsored system that comprises 13 distinct provincial/territorial programs governed by the Canada Health Act. About 70% of Canadian health care services are publicly funded.¹ The proportion of public funding provided by the federal versus provincial/territorial governments is difficult to ascertain due to the subsidies, tax credits and transfers that occur between government entities. However, it is believed that provincial/territorial governments provide a large portion of the funding.

In general, tax revenue is the source of public funding for health care. This means that all Canadian taxpayers make a financial contribution to the health care system, regardless of how much they use it. This method of funding helps accomplish the intent of the medicare system—universal coverage for medically necessary health care services based on need rather than the ability to pay. A study by the Canadian Institute of Health Information concluded that without the publicly financed health system, the lowest income Canadians would be at risk of going without needed health care or being further impoverished by paying for it.²

Since medically necessary health care services are not explicitly defined, the level of services provided by each province/territory varies. Examples of health care services not considered “necessary” or “essential” by provinces/territories include dental care, vision care, cosmetic surgery, semiprivate or private hospital rooms, and prescription drugs. Although the latter are usually provided to elderly and low-income residents, many can’t afford necessary prescription drugs, especially high-cost drugs required to treat patients with rare diseases. As a result, the Government of Canada has committed to implementing a national pharmacare program. The Advisory Council on the Implementation of National Pharmacare was created in 2018, and in 2019, it delivered its final report.³ The Government of Canada is currently considering how to best implement national pharmacare. Similarly, the Canadian Dental Care Plan has been implemented to provide dental care to Canadian residents with a household income of less than $90,000 a year and who don’t have access to dental insurance. 

Services not provided by the public health care system must be funded by individuals out of pocket or through individual or group private insurance plans. Those who do not qualify for publicly funded coverage must also fund care on their own or through an insurance plan. These services represent the remaining 30% spent by Canadians on health care. In 2023, it is forecasted that private sector spending was $99.8 billion, compared with about $244.1 billion in public sector spending. Private spending, however, is growing at a faster rate than its public counterpart, with growth rates of 5.6% and 1.7% forecast, respectively, for 2023.⁴

In most provinces, private insurance companies are not permitted to offer health care services that duplicate those of publicly funded plans. As a result, such plans are usually referred to as supplemental benefit plans. As an example, public health care provides for regular hospital room coverage, while a private plan may supplement this coverage by providing a semiprivate or private room.

The level of coverage offered by private insurance varies. For example, some plans offer preventive dental coverage at 100%, whereas other plans only cover 80% or have a limit on the total amount covered for the plan year. Private group insurance plans are typically employer-sponsored, with the employer paying the full cost of the plan or sharing the cost with employees through payroll deductions. The price per member for private group insurance tends to be cheaper than for private insurance purchased by an individual because the insurance company bears less risk with group plans. In addition, group plans offered through an employer can be bought with before-tax income.

Since employees value the supplemental health benefits offered through employer-sponsored plans, these plans are considered a key component of an employee’s total compensation package. Employers use supplemental health benefits to compete for quality employees.

The federal government encourages employers to provide supplemental benefits to employees by permitting a tax deduction equal to the cost of the coverage. As for the provinces, most but not all allow plan participants to receive these benefits tax-free. For example, in Québec, the value of these benefits must be included on an employee’s provincial tax return, and the employee must pay provincial tax on the value of the benefits.

Workers’ Compensation

In Canada, workers’ compensation is a mandatory system of programs protecting workers from the financial hardships associated with work-related injuries and occupational diseases. Programs are administered provincially versus federally, with each province/territory having its own Workers’ Compensation Board or Commission (WCB). Each WCB has its own legislation and, as a result, many aspects of workers’ compensation vary by locale.

Unlike health care in Canada, workers’ compensation is not publicly funded. Instead, it is financed by employers paying workers’ compensation insurance premiums. The premium charged varies by province/territory and is usually experience-based. As a result, employers that demonstrate a safe workplace and reduce the number of work-related injuries pay lower premiums. On the other hand, employers with poor track records for accidents and injuries face higher premiums. Most employers are required to register with their provincial WCB, but certain employers are excluded based on their structure or industry. For example, most provinces exclude independent operators, sole proprietors and executive officers. Other businesses that may be exempt include offices of medical doctors, barbers and hair salons, travel agencies and photographers. Many WCBs allow for optional or voluntary coverage when it is not mandatory.

To qualify for workers’ compensation benefits, a worker must have an injury or illness directly related to their work. The list of injuries and illnesses covered has been expanding to incorporate changes in workplace demands and environments. For example, mental stress claims are now more widely covered by workers’ compensation programs. Workers’ compensation legislation in various provinces has been amended to cover members of first-responder units diagnosed with mental disorders. The type and amount of benefits provided to each claimant vary based on the nature and severity of the injury or illness, but the following is a list of some of the common benefits provided by workers’ compensation programs:

• Wage loss
• Permanent disability
• Rehabilitation
• Health care and medical costs.

As stated earlier, workers’ compensation programs are designed to protect individuals from financial hardship—This does not mean that they fully replace lost income. Depending on the province, a wage-loss benefit from 75% to 90% of earnings is provided, with a maximum limit on the earnings. Given the coverage limits as well as the fact that not all employees are covered by workers’ compensation, an opportunity exists for private plans to offer additional coverage supplementing the public programs.

Disability Insurance

Similar to health care, private disability insurance can be obtained through an individual or group insurance plan. Individual plans can be tailored to meet a person’s specific needs, but they tend to be more expensive than group plans due to the pooling of risk and economies of scale offered by group insurance.

Whether disability plan benefits are taxed depends on who paid for the plan. Benefits that result from premiums paid by an employee with after-tax dollars are not taxed. Hence, benefits provided under an individual plan are usually not taxed because the individual paid the premium. In an employer-sponsored group insurance plan:

• If the employee paid all of the premiums, the benefits are not taxed
• If the employer paid all of the premiums, the benefits are taxed
• If the employer and the employee shared the cost of the premiums, only benefits exceeding the premium amount paid by the employee are taxed.

Group disability insurance plans offered by employers typically include three levels of coverage.

• Sick leave usually covers a period of a few days up to a few weeks and provides full payment of lost wages.
• Short-term disability (STD) covers a period ranging from 17 to 26 weeks, but it may be as long as 52 weeks. STD wage replacement benefits typically range from 55% to 75%, with some as high as 100%.
• Long-term disability (LTD) coverage commences when the STD benefits end and may continue up to an individual’s expected retirement date (usually age 65) if a return to work is not possible.

Effective December 18, 2022, the sickness benefits paid by Employment Insurance (EI), which are discussed further in the next section, were extended from 15 weeks to 26 weeks. Several group insurance plans provide STD and LTD that may be coordinated with EI sickness benefits—This recent change may result in changes to some STD and LTD benefits. The Canada Revenue Agency requires that income tax be deducted from taxable STD and LTD benefit payments as they are issued.

Since disability plans tend to be offered as part of an employer’s total benefit program, they may cover payments for other benefits as well as wage-loss benefits. For example, while receiving STD or LTD payments, an employee may continue to be covered by an employer-sponsored health care program. Similarly, the employee may continue to be credited with benefits under an employer-sponsored pension plan, if one exists.

An individual may have multiple sources of disability insurance. All sources, including workers’ compensation, are usually coordinated to ensure the total benefits received are not greater than an individual’s normal income. If total disability payments to the worker were higher, there would be little financial incentive for a worker to pursue rehabilitation and return to work.

Employment Insurance

EI provides temporary financial assistance to unemployed Canadians who have lost their job while they look for work or upgrade their skills. Canadians who are sick, pregnant or have specific family care/support situations may also be assisted by EI. The latter situations include:

• Care for a newborn or adopted child
• Care for a family member who is seriously ill with a significant risk of death
• Care for a critically ill or injured child.

EI is administered and guaranteed by the federal government, but the program is financed by employee and employer premiums. EI is a universal system that applies to all eligible Canadians except in the province of Québec, which opts out of the program for maternal and parental benefits. Québec has its own Québec Parental Insurance Plan (QPIP).

In the case of unemployment, EI provides benefits to individuals who have lost their jobs through no fault of their own. This includes layoffs due to a work shortage, mass layoffs and plant closures. Unemployment due to a seasonal occupation—common in industries such as construction, agriculture and fishing—is also covered by EI. Many of the services provided by seasonal occupations are essential to the development and maintenance of the economy, which makes it important for these occupations to retain their skilled and talented workers. The availability of financial assistance during a period of seasonal layoffs provides an incentive to these employees to stay in their current occupation. It is important to note that even if a worker’s unemployment is seasonal, the worker is required to conduct reasonable job search activities and document those activities for the duration of the claim to continue receiving EI benefits.

The basic EI benefit is 55% of an individual’s average insurable weekly earnings, up to a maximum yearly insurable earnings amount (benefits under QPIP are slightly different). EI provides a reasonable benefit, but it was not designed to replace earnings in full. This is more of an issue for individuals who earn more than the maximum yearly insurable earnings amount. This limit on coverage leaves room for employers to provide a benefit that supplements those provided by EI.

When establishing a supplemental unemployment benefit, the employer must be mindful of the regulations that apply to these plans. The requirements depend on whether the plan provides income in the event of temporary unemployment, training, illness or quarantine (known as SUB plans) or the plan provides benefits for maternity leave, parental leave, compassionate care and care for a critically ill child.

SUB plans must be registered with Employment and Social Development Canada (ESDC). If a plan is not registered, the resulting benefits may be classified as insurable earnings, reducing the employee’s EI benefits. Other notable requirements for SUB plans include the following.

• The employee recipient must apply for the benefits.
• The sum of the SUB payment plus the weekly EI benefit must not exceed 95% of the employee’s normal weekly earnings.

Plans providing a supplemental benefit for maternity leave, parental leave, compassionate care and care for a critically ill child are not required to register with ESDC. The sum of the supplemental benefit payment plus the weekly EI benefit rate is limited to 100% of the employee’s normal weekly earnings, rather than 95%.⁵

A SUB plan funded through a trust fund (i.e., contributions are remitted to and benefit payments are made from a trust fund) must be registered with the Canada Revenue Agency (CRA) as well as ESDC. When a plan is CRA-registered, the employer contributions made to the SUB plan are tax-deductible.

A trust fund is commonly used for SUB plans financed through collectively bargained agreements. A contribution is remitted by the employer on the employee’s behalf for each hour worked, and it accumulates in the employee’s account balance. The term and amount of benefit provided is based on the employee’s balance, adjusted by EI benefits and in accordance with the limitations of registered SUB plans. Administration of the trust fund is usually done through a board of trustees.

Life Insurance

Life insurance is a very important part of an individual’s financial plan—It can provide financial stability to survivors and dependents in the event of an untimely passing. The amount of life insurance a person should have varies with each individual’s circumstances. Factors that should be taken into account when determining the amount of life insurance needed include:

• Funeral costs
• The portion of the household income the insured person provides
• The cost of replacing services provided by the insured person (e.g., housework, child care, meal preparation)
• Money required for the education of children
• Outstanding debts (e.g., mortgage, car loans, credit cards).

Unlike the other public benefit programs discussed in this chapter, there is no federal life insurance program. Instead, death benefits are part of some other public programs, such as the Canada Pension Plan and the Québec Pension Plan (CPP/QPP) and workers’ compensation. Under CPP/QPP, a lump-sum death benefit is paid when a CPP contributor dies. The lump-sum CPP/QPP death benefit amount depends on the deceased member’s contributory period, with a current limit of $2,500. A surviving spouse/partner pension or children’s benefit may also be payable in the event of a CPP/QPP contributor’s death. Workers’ compensation provides a lump-sum death benefit as well as a benefit to help cover funeral costs. Similar to the other workers’ compensation benefits discussed earlier, the workers’ compensation death benefit is only payable in the event a death is directly related to the member’s work. The benefits provided by public programs are minimal and, for many persons, not sufficient in the event of a person’s death—especially if the person has a spouse, partner and/or dependents. Private life insurance supplements the public benefits. Individual private life insurance plans can be purchased from an insurance company, but most employers provide group life insurance coverage as a health and welfare benefit.

The typical life insurance coverage provided by employers is one to two times earnings. No qualifications are necessary for the coverage, which means that employees do not need a medical examination to be insured. In addition, the cause of death does not have to be work-related for benefits to be paid. Public programs require death benefits to be paid to a surviving spouse when one exists, but employer-sponsored benefits can be paid to any designated beneficiary.

The employer usually pays life insurance premiums on behalf of the employee. The premiums are treated as a taxable benefit to the employee. Hence, when a death occurs and a benefit payment is made to a beneficiary, the payment is not taxed. An employee may wish to supplement this coverage. Many employer-sponsored group insurance plans give employees the option to purchase additional coverage for themselves as well as a spouse and dependent children. Under this type of arrangement, the employee fully pays for the coverage but has lower premiums compared with premiums for individual coverage purchased outside of a group plan.

Pensions

It is each Canadian’s responsibility to ensure sufficient income is available to meet their retirement needs. There are different opinions on the portion of preretirement income required to maintain one’s lifestyle during retirement. The traditional number has been 70%, but some experts believe there is no empirical study to support this measure, and it is not appropriate to apply a single general rule to each individual. The actual percentage depends on factors such as health, the presence of a mortgage and the desired lifestyle in retirement. This income is provided from:

• Government retirement benefit programs
• Employer-sponsored private pension plans
• Personal savings and investments.

Since not all Canadians have access to retirement income from all of these sources, individuals must create and pursue a retirement strategy based on the options they have. Personal savings and investments are often necessary to fill the gap between what is needed and what is available through government- and employer-provided retirement benefits.

Government Retirement Benefits

The retirement benefits provided by the government in Canada include (1) the Canadian Pension Plan/Québec Pension Plan (CPP/QPP), (2) the Old Age Security (OAS) pension and (3) the Guaranteed Income Supplement (GIS). Typically, individuals with lower incomes meet their preretirement income replacement targets with income from government-sponsored programs. However, for middle- and high-income earners, OAS and CPP/QPP are usually not enough, providing only the foundation upon which a person’s retirement income is built.

The size of CPP/QPP depends on the amount of contributions remitted during the years a person works, up to a maximum earnings amount. Effective January 1, 2019, enhancements to the CPP/QPP began a phased implementation, with full completion in 2025. Prior to the enhancements, CPP replaced about 25% of career-average pensionable earnings. The enhancement intends to increase the full CPP benefit from 25% to 33% of eligible earnings, with a second maximum earnings amount being introduced. The full impact of the enhancement will be available after a 40-year contribution period, with partial enhancements for those who contribute for less than 40 years. The percentage of earnings replaced by CPP will be less for those with preretirement earnings above the ceilings, which are $68,500/$73,200 in 2024. From 2025 onwards, the second earnings ceiling will equal 114% of the first earnings ceiling. The OAS and GIS benefit amounts are also reduced if total retirement income exceeds certain limits.

Research shows that for many people, government benefits are the only source of retirement income, resulting in a low income replacement and a decline in lifestyle during retirement. As a result, an important national question has been how to increase the retirement income of Canadians, and the CPP/QPP enhancements are designed to address it.

Registered Pension Plans

The most common private retirement arrangement is the employer-sponsored pension plan. Because these plans must be registered with the Canada Revenue Agency (CRA), they are often called Registered Pension Plans (RPPs). As of 2022, 37% of the Canadian labour force was covered by an RPP—trending down over the last 20 years from 40% in 2002.⁶ While the fact that only about two out of five employees are covered in an RPP is a concern, a look at those employed in the private sector is even more alarming. Just 23% of private sector employees are covered by an RPP.⁷ In contrast, a hefty 87% of public sector employees have coverage. Rising costs of RPPs for employers have led to a reduction in covered employees and, in recent years, have prompted the government to create new, cost-effective alternatives such as Pooled Registered Pension Plans (PRPPs), which are discussed later in this section.

There are primarily two types of RPPs: (1) defined benefit (DB) plans and (2) defined contribution (DC) plans. In addition, target benefit plans (TBPs) and jointly sponsored pension plans (JSPPs) offer many similarities to DB plans, and some RPPs combine DB and DC provisions to create hybrid plans. Significant design differences exist among these broad categories of RPPs, as well as design variations within each type. The ability to design an RPP to meet the specific needs of employees is also advantageous to individual employers in some industries. For example, consider the construction industry, which has physically demanding jobs that workers may not be able to perform until the typical retirement age of 65. A plan offering unreduced retirement benefits at an earlier age can provide sufficient retirement income in cases where a worker can no longer endure the physical strain. Of course, this feature increases the cost of the plan. Plan design ultimately determines how expensive a plan will be for employers.

The cost of a plan is determined by actuarial calculations in the case of DBs, TBPs and JSPPs and by the plan formula in the case of DC plans. Pension legislation sets out the funding requirements for each type of plan, including how costs are disclosed as well as minimum contribution requirements. As previously noted, the ITA governs the maximum tax-deductible contributions to employer-sponsored pension plans. These maximums vary by the type of plan. For DB plans, contributions are capped by limiting the pension amount. For 2025, the maximum annual pension per year of service payable is $3,756.67 in a DB plan. On the other hand, DC plans have maximum contribution limits, with the amount being $33,810 in 2025.

Some RPPs are integrated with the CPP/QPP or the OAS, which can be accomplished in several ways. To acknowledge employee CPP/QPP contributions, some RPPs require employees to contribute a higher percentage of earnings that exceed the CPP/QPP earnings ceilings. Since employees receive CPP/QPP benefits based on earnings up to these maximum amounts, other RPPs provide a benefit that is a higher proportion of worker earnings above the CPP/QPP ceilings. Another common approach when integrating an RPP with government benefits is to give an employee the choice to receive an adjusted RPP providing a uniform retirement income when combined with government benefits (i.e., OAS, CPP/QPP). As an example, consider that OAS benefits begin at age 65. An RPP might pay retirees a higher benefit until they reach 65 and are eligible for OAS payments. At age 65, the RPP payment is reduced to reflect the amount provided by OAS.

Recent increases in the cost of providing RPPs have required higher employer contributions, leading to benefit reductions for many RPPs and, in some cases, plan termination. The reduced RPP coverage resulting from these plan terminations compounds the problem of insufficient retirement income faced by many Canadians. Recognizing the importance of RPPs to the financial security of Canadians during retirement, the federal and provincial governments have implemented funding relief measures.

Many of the funding challenges faced by RPPs stem from funding frameworks that were established in a very different economic environment, including higher interest rates.  Given the challenging current environment, characterized by lower interest rate levels and volatile investment markets, a complete review of the funding frameworks was required. Many jurisdictions have now implemented new permanent funding frameworks that reduce the solvency funding requirement (i.e., those more sensitive to interest rates) and introduced a new reserve applied to the plans’ ongoing funding, called a Provision for Adverse Deviation (PfAD). These changes are intended to result in more stable funding requirements.

Pooled Registered Pension Plans

For federally regulated employers that do not offer a privately sponsored retirement plan and that want to help their employees save for retirement, the federal government has created Pooled Registered Pension Plans (PRPPs).⁸ Self-employed persons who do not have a privately sponsored retirement plan may also save via these plans. PRPPs are effectively DC plans offered by third-party financial institutions. Employer and employee contributions are credited to the individual employee’s account and accumulate with investment earnings. The plans can offer investment choice and must be provided at “low cost,” currently defined as administration costs not exceeding those of a 500+ life DC plan.

For PRPPs to be available at the provincial level, provincial legislation is needed. To date, legislation has been introduced in Alberta, British Columbia, Nova Scotia, New Brunswick, Ontario and Saskatchewan. Québec has passed legislation to implement Voluntary Retirement Savings Plans (VRSPs) similar to PRPPs. Other provinces have shown interest in the model.

Personal Savings

Registered Retirement Savings Plans

Another private pension arrangement available to Canadians is a Registered Retirement Savings Plan (RRSP). The federal government introduced RRSPs primarily to promote saving for retirement among employees who do not have RPP coverage from an employer as well as persons who are self-employed. RRSPs are personal savings plans that permit individuals to save for retirement on a tax-deferred basis. From a tax perspective, annual contributions to an RRSP are treated like contributions to a defined contribution RPP. They can be deducted from a person’s gross income, which reduces the person’s income tax for the year. RRSP investment earnings also accrue tax-free. Funds are taxed when they are withdrawn during retirement. RRSPs essentially allow individuals to postpone taxes on income during their working years until retirement, when income—and the corresponding tax rate—tend to be lower.

RRSPs are set up through a financial institution such as a bank, credit union, trust or insurance company. The investment of the funds is directed by the individual. Permissible investment options include treasury bills, Guaranteed Investment Certificates (GICs), mutual funds, bonds and equities.

Upon retirement, a person typically uses RRSP funds to purchase an annuity payable for the purchaser’s lifetime or transfers the money to a Registered Retirement Income Fund (RRIF). An RRIF allows the funds to continue to earn investment income while the individual receives a minimum amount from the fund each year. The minimum amount is determined at the beginning of each year by the RRIF carrier, but the individual can choose to withdraw a higher amount. A retiree can also withdraw the RRSP funds in full. In this scenario, income tax is withheld on the amount withdrawn, which may not be the most tax-effective approach. Regardless of how the RRSP funds are used, they must be withdrawn or transferred by December 31 of the year the account holder turns age 71.

The ITA limits tax-deferred savings to 18% of earned income from the previous year, up to an annual dollar limit. When determining how much an individual may contribute to an RRSP in a year, the limit ($32,490 in 2025) is reduced by the total value of benefits earned during the prior year under an employer-sponsored RPP. Therefore, a single deduction limit applies, and it is coordinated amongst the different types of pension arrangements. This results in reduced RRSP contribution room for RPP participants.

For DB plans, the value of the benefit earned during the year under an RPP is determined by multiplying the annual pension earned by the individual during the year by nine and subtracting $600. The maximum annual pension that could be earned for a year of service in 2025 was $3,756.67. Thus, the 2025 maximum value is $33,210. For DC plans, the calculation is more straightforward, and the value of the benefit earned during the year is equal to the contributions made by and on behalf of the employee to the RPP during the year. The maximum contribution that could be made to a DC plan in 2025 was $33,810.

Tax-Free Savings Accounts

Realizing the ability of some Canadians to save for retirement through RRSPs may be limited, the federal government introduced another savings vehicle providing tax incentives. In 2009, the federal government launched Tax-Free Savings Accounts (TFSAs). Canadians can now contribute $7,000 to a TFSA annually—The maximum was $5,000 per year from 2009 to 2012; $5,500 per year from 2013 to 2014; $10,000 for 2015; $5,500 per year from 2016 to 2018; $6,000 per year from 2019 to 2022; $6,500 per year for 2023; and $7,000 per year for 2024. Unlike contributions to RRSPs, contributions to TFSAs are not tax-deductible. However, the investment income and withdrawals are tax-free. The accountholder can withdraw funds from a TFSA at any time, and the amount withdrawn within a year is added to the contribution ceiling for the following year. TFSAs are a much more flexible savings vehicle than RRSPs and can be used to achieve savings goals other than retirement. A TFSA can be used to save for a down payment on a home, car or other large expenditure. In addition, a TFSA can accumulate beyond age 71. In contrast, an RRSP must be converted to a stream of retirement income payments by that age.

Endnotes

1. Canada Institute for Health Information, Who is paying for these services? at www.cihi.ca/en/who-is-paying-for-these-services.
2. Canada Institute for Health Information, Publicly Financed Health Care in Canada: Who Pays and Who Benefits Over a Lifetime at secure.cihi.ca/free_products/Lifetime_distEffects_overview_EN.pdf.
3. Health Canada, A Prescription for Canada: Achieving Pharmacare for All at www.canada.ca/en/health-canada/corporate/about-health-canada/public-engagement/external-advisory-bodies/implementation-national-pharmacare.html.
4. Canada Institute for Health Information, National Health Expenditure Trends, 1975 to 2023 at www.cihi.ca/en/national-health-expenditure-trends.
5. Detailed information on SUB plans can be found in the Guide for Employers Offering Supplemental Unemployment Benefits to Their Employees at www.canada.ca/en/employment-social-development/programs/ei/ei-list/reports/supplemental-unemployment-benefit.html.
6. Statistics Canada, Pension Plans in Canada, as of January 1, 2023.
7. Ibid.
8. Pooled Registered Pension Plans Act at https://laws-lois.justice.gc.ca/eng/acts/P-15.3/.

Domenic Barbiero is a principal and consulting actuary on the pension and benefits team of Eckler Ltd. He has over 20 years of experience as a pension consultant and leads Eckler’s trusteed plans consulting group. (Domenic Barbiero - Eckler)