Janet Frame, the HR Manager, has advised that the organization is considering introducing a Group Registered Retirement Savings Plan (RRSP) to the employee benefit package. She is suggesting that the employees could choose to contribute from 1% to 5% of their base pay with the employer matching their contributions up to a maximum of 3%. The plan is defined as a restricted access RRSP.
As the Payroll Supervisor, prepare a memo for Janet outlining the remittance and specific T4 reporting requirements if this plan is introduced.
Prepare your response in memo format (350 – 500 words) as provided in your Student Information Guide, with correct spelling, grammar and punctuation. You will be penalized if you are excessively over or under the suggested word count. Your response to this question must be stated in your own words and should be based on the course material, your experiences, knowledge gained through the course and at least one government resource. It is recommended that you prepare your response using MS Word or a similar word processing software and save the file in a RTFformat as it will be sent as an attachment to the e-mail
