At a typical event we would have a door prize. Well, this year is different but in a very creative way.
Our booth may be virtual this year but our draw prize is this year is extra special; scroll to the bottom of this page to enter to win our Shop Local prize!

Financial Wellness

What does this mean to you?

Your retirement savings. A nest egg, as we sometime refer to it as. Money for a rainy day. Savings for your dream vacation. It could even include insurance strategies that in the event of your death will be in place to take care of your loved ones.

With all the changes and possible uncertainty, we are encouraging you to check in on your financial wellness. What do you have set up and are you happy with it?

All through the year we connect with Alberta teachers all across the province; at teachers’ conventions, at ATA events and at our popular (virtual) Financial Wellness and Retirement sessions. These are opportunities to share information on the ATA Voluntary Benefits program and how it can really make a difference to you and your family.

ATA Group RRSP

An RRSP is meant to be a long-term savings plan that will be there for you when you retire. This can be considered a foundational part of your financial wellness.
Your ATA Group RRSP is an excellent retirement savings plan that has a few key features that set it apart from the RRSPs that you would normally get at your bank.

1. Payroll deduction contribute to your RRSP investment at the same time as you get paid. This gives you immediate tax savings and consistent monthly contributions.
2. Access to institutional funds these are investment options that you would not normally have access to as an individual at your local bank branch. This has been made available to all Alberta teachers by the power of a group investment plan.
3. Accountability we are accountable to you as an ATA member and we are accountable to the Pension & Benefits committee of the ATA. We report back the plan performance and member service on a yearly basis.
The general ATA Group RRSP (and application) details can be found here.

ATA Group TFSA

Traditionally, a TFSA has been used as a short-term savings vehicle. While this is still true, we have met some individuals who feel that they want a little more control of their money. They want to be able to access their money as they see fit and not be held down to the year they turn 71 to get it back without the tax implications. The ATA Group TFSA (Tax Free Savings Account) is more their style.
We have built the ATA Group TFSA to be a mirrored program to the ATA Group RRSP. More information can be found here.

How to incorporate insurance strategies into your financial wellness?

At the top of this we mentioned that insurance strategies can be a part of your financial wellness. We have developed the ATA Group Life+ program as a unique collection of insurance product that are designed to protect you and your family from the worst of life’s unexpected events.
Click here to learn more about the ATA Group Life+ program

To give you an example of one of the insurance products that we have included in the program, let’s talk about Mortgage Insurance.

Here is a scenario. You and your family buy a home, at the bank you sign up for creditor insurance (the bank version of mortgage insurance). If you were to die unexpectedly, the creditor insurance would pay for your mortgage but your family would be left with nothing. With creditor insurance, the bank owns the policy and they decide what to do with the insurance money.

Here is a different scenario. You and your family buy a home. You set up separate mortgage insurance, a policy that you own. If something were to happen to you, your family would get the insurance money and the decision of what to do with that money.

For more information, head over to the insurance section on our website. We have a list of questions that you can ask your insurance provider to help you feel confident in where you are putting your insurance dollars.

If you have questions or need more information, connect with one of our Advisors here.

Enter to win our Shop Local door prize!

Even though this event is virtual, we still wanted to have an opportunity to connect with you. This year we are bringing it to close to home - your home. By shopping locally for the door prize the Women In Leadership Virtual Summit.

What does this mean? We have a draw for a $100 gift card to a local shop right in your community. If your name is drawn, we will connect with you and you choose what locally owned business that you would like to shop at and we will have a gift card there ready for you.

Are you interested in learning more about your Financial Wellness and Debt Management?

As the providers of your ATA Voluntary Benefits, we are pleased to announce 2 upcoming dates of our Financial Wellness 101 as virtual sessions.

What would you do if things suddenly went very, very badly in your financial life? If you or your partner were laid off? Or you got sick and couldn’t work? Or your relationship breaks down? Or your debts just got out of control? If your income was interrupted for even a couple of months, could you handle it?
Financial Wellness 101 is built to give you tools to take control of your financial situation. How to start saving and investing. Easy steps on where and when to put your money. Tips for budgeting and saving. The importance of an emergency fund. Tips for maintaining a good credit score. It will also teach you about debt – how to handle it, how to address it, tools you can access if things get out of control.

Mark your calendars! We will be hosting two Financial Wellness and Debt Management virtual sessions this spring, April & May dates are coming. Sign up for the event announcements here.