What is the FEE for an Employer to set up a Group Plan?

There is no FEE for a plan unless it is mandated by FSRA (Pension plan)

Which is NOT a Financial Wellness offering?

Complimentary Mental Health Sessions

Which of these plans is NOT a Group Advantage offering?

Defined Benefits Pension Plan (DBPP)

Do we have an option for Safety Bonuses to help with retention as well as converting employees to Payroll from Contract?

Yes - DPSP (Deferred Profit Sharing) up to 2 yrs vesting of company funds)

Which of these below can we NOT include in a Group Advantage Proposal

RBC Insurance (Medical/Dental/Life)

GA Plan Members get how many points for funded mortgages?

100 points for every $1000 funded

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Group Advantage Knowledge Test

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Questions 12

Answers

1
Group Advantage is for Ontario Sponsors/Members only.
True
False
2
Can you enroll GRSP and DPSP via MyAdvisor?
True
False
3
Can we help US entities with 401k Plans?
False
True
4
What is the FEE for an Employer to set up a Group Plan?
Flat admin set-up fee of $150
$5 per Employee
There is no FEE for a plan unless it is mandated by FSRA (Pension plan)
$2 per employee if their is more than 50 employees
5
Which is NOT a Group Advantage role?
Group Consultant
Group Wellness Counsellor
Relationship Manager
Group Advisor
6
What is the cost to RBC Employees to use Employee Care, Lifespeak and Headspace?
Free upon pre-approval from your VP
No cost
$22.50 per use
$5 per month
7
RBC Group Advantage also offers Health & Dental Benefits?
True
False
8
Which is NOT a Financial Wellness offering?
GAM Event invitations
Customized Workplace Advice Events
One-on-One Advisor Meeting
Complimentary Mental Health Sessions
9
Which of these plans is NOT a Group Advantage offering?
Group Tax Free Savings Account (GTFSA)
Group Retirement Savings Plan (GRSP)
Defined Contributions Pension Plan (DCPP)
Defined Benefits Pension Plan (DBPP)
10
Do we have an option for Safety Bonuses to help with retention as well as converting employees to Payroll from Contract?
Yes - GRSP can work if the employees don't withdrawl the funds
Yes - any plan can do this if it is presented correctly to the employees
Yes - DPSP (Deferred Profit Sharing) up to 2 yrs vesting of company funds)
Nothing available
11
Which of these below can we NOT include in a Group Advantage Proposal
RBC Insurance (Medical/Dental/Life)
ADP (Comprehensive Services/HR/Payroll/Talent Acquisition Support)
Employee Financial Literacy Sessions (Homebuyers, Investing, Budgeting 101)
RBC MAP (Mortgage Assistance Program)
12
GA Plan Members get how many points for funded mortgages?
100 points for every $1500 funded
150 points for every $1500 funded
100 points for every $1000 funded
150 points for every $1000 funded

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