CAEAS-ECAB
Plan Financials
The ONE-T Board of Trustees closely monitors the CAEAS-ECAB Plan’s financial position and makes administration, investment, and necessary plan design decisions to ensure compliance with the Trust Agreement and Funding Policy.
As part of its commitment to transparency and accountability with Plan Members, the Board publishes the Plan’s current and forecasted financial position – along with helpful financial information – on this page.
Read the latest Annual Member Update, refreshed with related financial information and values as of
December 31, 2025.
Financial Report
The Plan’s financials are audited each calendar year by an independent auditor that produces a detailed account of the Plan’s financial position.
Highlights from the 2025 Audited Financial Statements
| CAEAS-ECAB Active Plan | 2025 | 2024 |
|---|---|---|
| Net assets available for benefits on January 1 | $49,514,771 | $51,408,408 |
| Revenue | ||
| Contributions¹ | $55,256,836 | $55,269,199 |
| Investment income | $1,919,555 | $2,894,353 |
| Subtotal revenue | $57,176,391 | $58,163,552 |
| Expenses | ||
| Claim payments | $55,085,709 | $51,234,333 |
| Insurance premiums | $3,157,201 | $2,604,294 |
| Benefit expenses² | $5,769,948 | $4,154,711 |
| Trust expenses³ | $2,331,848 | $2,063,851 |
| Subtotal expenses | $66,344,706 | $60,057,189 |
| Difference (revenue less expenses) | ($9,168,315) | ($1,893,637) |
| Net assets available for benefits on December 31 | $40,346,456 | $49,514,771 |
¹ Includes the per FTE amount provided by the Province, along with Plan Members’ 5% share of Health, Dental, and Insurance premiums
² Includes pooling costs and claims administration fees paid to Canada Life
³ Includes third-party administration fees, employee compensation and expenses, insurance, office and general fees, professional fees, and trustee compensation and expenses
Some Helpful Notes
- Contributions were basically unchanged in 2025. An increase in FTE 2023-2024 retroactive billings was offset by a decrease of 189 FTEs in 2024 (billing credits processed in 2025).
- Investment income was down by $975K in 2025, due to lower market returns.
- Claim payments were up by $3.9M in 2025, mainly due to increases in prescription drugs, dental, and paramedical services claims (i.e., increased number and inflation).
- Insurance premiums increased by $553K in 2025, partly because ONE-T received a life insurance premium refund of $146K from Canada Life in 2024. The balance is from increases in life insurance volumes.
- Benefit expenses were up $1.6M in 2025
- ONE-T was established and operates as an unfunded plan for taxation purposes. At the auditor’s recommendation, ONE-T completed a voluntary disclosure review in 2025 based on this status with respect to premium tax remittances. The result was a one-time retroactive Administrative Services Only (ASO) premium tax payment, including associated interest and penalties, to the Ontario Ministry of Finance in March 2026.
- As this was a voluntary disclosure, ONE-T is anticipating a full refund of penalties and associated interest from the Province.
- Recently, the Province changed its policy on unfunded plans’ taxation; as such, ONE-T has yet to determine how we will choose to collect and remit premium tax going forward.
- Trust expenses for the CAEAS-ECAB Plan were up by $268K in 2025. There was an increase in prior authorization (FACET) services and reviews, as well as a comprehensive drug audit and expanded analytics provided by Cubic Health.
Download a copy of the Audited Financial Statements as of December 31, 2025.
Actuarial Report
Each calendar year, an independent actuary reviews the Plan’s current and forecasted financial position. The purpose of an actuarial valuation is to forecast, as best as possible, future Plan costs and anticipated funding (if known), and correlate that to net assets that will be available to pay for benefits.
Highlights from the 2025 Actuarial Valuation (CAEAS-ECAB Active Plan)
The Trustees are required to keep a minimum amount of assets on hand over the forecast period to help protect the Plan against a large swing in claims or a delay in receiving funding. This is referred to as the minimum Claims Fluctuation Reserve (CFR) and is 8.3% of annual operating costs.
- As of December 31, 2025, the Plan was running above the minimum CFR.
- Over the next three calendar years (2026 to 2028), the Plan is projected to remain above the minimum CFR.
- In 2029, the Plan is projected to fall below the minimum CFR if no changes are made – i.e., plan design changes or additional funding.
Trustee Compensation
The ONE-T Board of Trustees consists of nine members, who together are responsible for overseeing the operation of the Benefits Plan. Collectively, the nine Trustees received $246,504 in compensation between January 1, 2025, and December 31, 2025, for CAEAS-ECAB Plan activities, including:
- Plan financial management
- Plan operations
- Hiring and performance monitoring of service providers
- Hiring and performance management of ONE-T staff
- Plan design
- Risk management
- Scheduled and unscheduled Board and Committee meetings, meetings with the Crown, Associations, Trust Agreement Parties, etc.
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