Setting you up for Success in 2026

As we wrap up 2025, it’s a great time to review your employee benefits and retirement plans to ensure that your coverage reflects your current situation. Here are a few quick reminders:

Update Salaries for Income-Based Benefits

It is important to ensure that employee salaries are up to date in payroll and insurer systems. Many benefits, like long-term disability (LTD) and life insurance, are based on earnings. If salary changes are not updated, benefit amounts may not be accurate when coverage is needed most.

Review and Update Beneficiaries

Employees should be encouraged to keep their beneficiary designations up to date for their life and investment plans, especially if there has been a life change like marriage, separation or birth of a child.

Double Check Payroll Deductions

Year-end is a good time to confirm that benefit premiums and retirement plan contributions are being deducted correctly. This helps to ensure your coverage and savings stay on track.

Confirm Taxable Benefits

Some benefits are considered taxable, such as employer-paid life insurance premiums. Making sure taxable benefits are reported accurately now helps avoid surprises when doing T4 reporting.

This short year-end review will help ensure your benefits and retirement plans are accurate, compliant, and working as intended – setting you up for success in 2026!

Please reach out to us if there have been any updates.