The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

Pension plan changes will offer more chorces The most commonly used retirement option now is the Defined Benefit Pension Plan Insurance, and trust companies currently caatrol 80% of this market. change over the next decade as Employer pension plans will likely to adjust to their current and future needs. organizations and employees attempt The organization is obliged to pay specific retirement benefits to an employee at some time in the future. From the company‘s perspective, the administration of this type of plan is costly and complex. Many small and medium sized firms have avoided these types of plans. Many larger firms are switching from a Defined Benefit Plan to a Defined Contribution Pension Plan because they are easier to administer. Defined Contribution Pension Plans are often referred to as Money Purchase Pension Plans. Not only are these types of plans appealing to the company, but they have benefits for the employee as well. They are flexible and allow the employee more control over his or her employment benefits. A key way in which that flexibility is provided is by having the employee select the specific investments. Employees now have the ability to tailor their pension investments to their personal temperament. They have the option of investing in more growth investments and maximizing the foreign content to 20% if they desire. A Money Purchase Pension Plan is as Offered for sale at $445,000 and filled with custom touches such as a solid cherâ€" rywood kitchen, dramatic interior decor, stone accents and much, much more. touches such as a solid cherâ€" Cathedral ceilings through rywood kitchen, dramatic living and dining rooms and interior decor, stone accents _ full walk out basement are and much, much more. only two of a long list of feaâ€" tures. Call FRANCES WEDLAKE * any time to discuss your special ideas or custom plans â€" all will be designed by our architect "Fabiani" OPEN HOUSE SAT. SUN. 2â€"4 PM. A3 0 Royal LePage Real Estate Services Ltd., Broker Presenting: DALZOTTO CUSTOM HOMES N GLEN ABBEY SPECIAL PRICING ON REMAINING 2 LOTS IN PHASE 1 PHASE 2 CX x k kx kx k kx kx kX kx xk x kx k kx k kX kx *k x PHASE 7 NOW RELEASED PRIVATE RAVINE COURT LOTS FROM $495,000 ANOTHER ROYAL LEPAGE ADVANTAGE simple to manage and as flexible as a conventional Group RRSP, but it does have some additional advantages. Employer contributions are not subject to payroll tax and the plan is creditor proof. A key advantage is that the funds can be "lockedâ€"in". In other words, the funds cannot be withdrawn until retirement. This important $495,000. Over 3,400 sq. ft., of superior workmanship. FRANCES WEDLAKE * Sales Representative Spousal retirement benefits are one of the best longâ€"term tax planning tools available. The higher earning spouse contributes to the lower earning spouse‘s RRSP. Eventually, when the funds are withdrawn, they are taxed in the name of the lower tax bracket spouse. feature paves the way for eliminating one of the major obstacles of many company plans and now allows a "spousal" option. The spousal option has not been used widely because the employer usually requires company contributions to be left in the plan or the company will stop making contributions. Therefore, firms are reluctant to allow a spousal contribution because if the spouse decided to withdraw any money, the IT‘S A GIRL DOUGHERTY â€" Dr. Stephen and Nancy are thrilled to announce the birth of their second beautiful daughter, Lauren Kendall, on June 23, 1994, at 8:10 am, weighing 7 lbs., 5 oz. at the Oakville Trafalgar Hospital. Proud grandâ€" parents are Joan and John Rayson and Rita and Hugh Dougherty, all of Scarborough. Speâ€" cial thanks to Drs. Ewaschuk, Charters and Tintscheff. ITS A BOY KILBURNâ€" Shannon and Rebecca are thrilled to announce the arrival of their baby brother Ryan Dunstan Lionel, weighing 8 lbs. 13 ozs. born on June 14, 1994. Proud grandparents are Dunstan and Doreen Carroll of Pointe Claire, Quebec and Lionel and Shirley Kilburn of Oakville. Many thanks to Dr. S. Rouse and Dr. Richmondâ€"Peck. Thanks also to the terrific nurses of the Oakville Trafalgar Memorial Hosâ€" pital. FLAHIVE/JACKSON â€" Anne and John are thrilled to announce the arrival of their first child, Matthew Patrick weighing in at 8 Ibs. 2 ozs on June 14, 1994 at the Oakvilleâ€"Trafailgar Memorial Hospital. Proud grandparents are Joyce and Stan Jackson of Oakville and Bridie and Pat Flahive of Rexdale. Extra special thanks to Dr. Riley for his wonderful care and support over the last 9 months. Thanks also to Dr. Feroze and Dr. Milloy, and the excellent nurses at OTMH for their kindness and paâ€" tience. Thanks again John, you were a wonâ€" derful coach. BOYD â€" Marion, Rick and Sam are pleased to announce the arival of Lauren Nicole to our family. Born on June 9th and weighing 7 lbs., 1 1/2 ozs., Lauren is the grandchild of John and Sandra Henderson of Oakville and Bill and Shirâ€" ley Boyd of Point Clarke. Thanks to all the staff at Oakvilleâ€"Trafalgar Memorial Hospital with special thanks to Connie and Dr. Riley. BRABERSâ€"MCEWEN â€" Robert and Karen are pleased to announce the early arrival (8 weeks) of Gillian Eileen Marljke, 3 lbs. 13 oz., on April 19, 1994. Hap;\>/y to have Gillian home are siblings Graeme, Victoria, Russell and Marlies. Special thanks to midwives Mary Ann Leslie and Suzanne Smyth, the McMaster NICU staff and the SCN staff at O.T.M.H. It‘s not worth the risk for a company to potentially get involved in a family issue, when they might alienate a valued employee. On the other hand, it is a significant disadvantage for an employee not to have the ability to use the spousal option. employee would lose a company benefit. A Money Purchase Pension Plan gives both parties what they need. The employee can use the spousal option and the company can avoid any misunderstandings by "lockingâ€"in" the funds. Regardless of â€"the options offered, it is critical for all employees to have access to qualified investment advice. Currently, this task usually ends up as an extra demand on an already thinly staffed human resources department. Many employees are not fully aware of their employee benefits and, consequently, companies are not getting fair value for their efforts in assisting employees with the important task of retirement planning. So there are good reasons for changing retirement benefits from both the company‘s and the employee‘s perspective. Future‘ changes to employer pension plans will include the variety of plans offered, the increased flexibility of these plans, and the level of information that is available to the employee. Peter Watson, MBA, CFP, RFP is the president of Peter Watson Investments Limited â€" an Oakville firm specializing in retirement planning, RRSPs, and investment planning. He can be reached at 842â€"7602. MacLEAY â€" Rob and Lynn (nee Hart) thank God for the safe arrival of their first child, a daughter, Hayley Marie Louise, born at the Otâ€" tawa General Hospital on Tuesday, June 7, 1994, at 9:05 p.m., weighing 8 lbs. 12 ozs. Proud first time grandmother is Irene MacLeay of Thunder Bay. Very happy second time grandparents are Don and Anna Hart of Oakâ€" ville. Hayley is a greatâ€"granddaughter for Dorâ€" othy MacLeay of Thunder Bay. WASSELL â€" Bill and Debbie are pleased to announce the birth of John William, born June 23, 1994, weighing 6 lb. 8 oz. at Oakville Traâ€" falgar Memorial Hospital. A brother for Anne Sterling. Proud grandparents are Mary Cawthorne of Welland and Joan Jenkinson of Peterborough. Thanks to Dr. Walsh and Arâ€" delle for a wonderful evening. SMITH â€" Linda and Joel can‘t say enough about their new son. Just ask their parents, relatives, friends and neighbours! Born June, 15, 1994 at 2:26 a.m. and weighing 6 lbs. 10 oz., Nathaniel Alexander has filled his parâ€" ent‘s hearts with great joy. Proud grandparâ€" ents are Ray and Bette Smith of Burk‘s Falls and Lorne Ranson of Winnipe?q. Many proud memories of the late Mildred Ranson will be shared to 3row up with Nathaniel. Mom and Dad would like to thank Drs. Aldridge and House and especially Dr. J. Armstrong for whom we can‘t say enough. Thanks also to the nursing staff of L D and Obstetrics at O.T.M.H. Thank you Nancy for your kind words and advice. THE O * We give you WHEN YOU PLACE YOUR BIRTH ANNOUEICEMENT IN TH The announcement will appear 2 times The announcement and a picture of the baby will appear in the annual New Arrivals Supplement in January FOR FURTHER INFORMATION PLEASE CALL * a pack of Penaten baby products. * a Tâ€"shirt for the baby FRIDAY, JULY 1, 1994 PAGE 20 BEAVER _