These optional programs are available to all Merit Alberta firms:

Group Registered Retirement Savings Program Group RRSP
The Group RRSP program requires regular contributions by employees and/or employers to an individual registered retirement savings account. Investment options available include Guaranteed Investment Certificates and mutual funds with varying levels of risk. The individual employee has immediate vesting rights to all contributions and can withdraw or transfer funds within guidelines established by the employer. Employees are responsible for the management of their plan including the selection of their investments. The program is administered by RBC Financial.

Defined Contribution Pension Plan
The Defined Contribution (DC) pension plan is similar to the Group RRSP in a number of ways: contributions to the employee's account are vested immediately; similar investment options (as established by the plan trustees) are available for the individual employee account and the employee is responsible for the management of their plan investments. The DC pension plan is different from the Group RRSP in that both the employee and employer contributions are "locked in" until the employee reaches retirement age. At that time, the pension plan must be converted to appropriate retirement income vehicles (annuities, locked in retirement income funds, life income funds, etc).