RE/MAX Retirement Savings Plan

Q. when should i sign up?
A. You should join immediately. The sooner you join and make your first referral, the sooner you are able to start saving! Your MortgageBrokers.com representative is standing by to help you get started.

Q. who is eligible to join?
A. All RE/MAX sales associates are eligible to join the RE/MAX Retirement Savings Plan.

Q. am i obligated to join the plan?
A. There is no obligation to participate in the RE/MAX Retirement Savings Plan. But only by choosing to join can you be eligible for the referral bonus, the low investment management fees, or have access to these exclusive investment services offered by Manulife Financial.

Q. how much will re/max contribute on my behalf?
A. For each residential mortgage origination referred to MortgageBrokers.com and closed, RE/MAX and MortgageBrokers.com will contribute up to 25 basis points (.25%). Click here for details

Q. what type of savings plan does re/max offer?
A. The RE/MAX Retirement Savings Plan includes both a RSP and a NRSP, which is designed for those individuals who are 71 years of age and older.

Q. how much can i contribute?
A. Once you have enrolled and made your first qualified referral, you may make voluntary contributions to your RE/MAX Retirement Savings Plan’s RSP or NRSP. You may contribute as much as you like to your RSP provided you have the contribution room.Voluntary contributions can be made through Pre-Authorized Debit (PAD) to your personal bank account or by lump sums up to your personal contribution maximum. Please visit www.manulife.ca/remax and refer to the “Frequently asked questions” section for more details.

Q. who decides how contributions will be invested?
A. You do! When you enrol, you will complete Step 2 of Manulife’s Steps Retirement Program questionnaire, which identifies what type of investor you are. Once you have a sense of investor profile, you can select the Asset Allocation Fund that best suits your needs. If you do not make an investment selection when you enrol, contributions made will be invested in a default investment until you select an option that is right for you. The default investment for the RE/MAX Retirement Savings Plan is the Money Market Fund (fund code 3132).

Q. can i transfer my individual savings into the re/max retirement savings plan?
A. Yes. At any time you can transfer assets in order to benefit from Manulife’s low fees and the Asset Allocation Fund’s proven performance. There is no fee to move your assets.

Q. how do i determine my personal maximum contribution amount?
A. Be sure to meet with your financial consultant to discuss your specific contribution plan and personal contribution amounts. Canadian standards for maximum RSP contribution amounts are set by the Canada Revenue Agency (CRA) and indicated on your Notice of Assessment.
The maximum RSP contribution you can make in 2008 is the lesser of 18% of your previous year’s earned income or $20,000 less any Pension Adjustments reported on your previous T4 Form. If you are unsure about your contribution maximum or need an additional copy of your Notice of Assessment, contact the Canada Revenue Agency at www.cra-arc.gc.ca or call 1 800 959 8281.

Q. can my contributions be withdrawn?
A. You can withdraw your contributions to your RSP, as well as any contributions made by RE/MAX, at any time.

Q. are there any fees to withdraw?
A. You will be able to make one free withdrawl each calendar year. For any additional withdrawals, a fee of $25 will be withdrawn from your fund. Note that taxes will be charged and withheld on any withdrawals from your RSP. Withdrawals from a NRSP are non-taxable.

Q. how do i make a withdrawal?
A. You can make a cash withdrawal from your RSP via the member website, www.manulife.ca/remax. Click on “Access your account” and select “Make a withdrawal”.
To make a NRSP withdrawal, fill out the form on the “Forms to manage your account” section of the website.

Q. what happens to my re/max retirement savings plan if i leave re/max?
A. If you leave RE/MAX for whatever reason, you are immediately entitled to the full value of your RE/MAX RSP and NRSP accounts. Upon termination or retirement, Manulife Financial will automatically transfer your RSP assets to the Manulife Personal Plan. You will receive a letter from Manulife that confirms this transaction. Retiring sales associates can also choose to enrol in Manulife’s Group Retirement Income Plan.

Q. is there a penalty for making changes to my investments?
A. You can make investment transfers via Manulife’s website or by phone at no charge. To make changes using the website, visit www.manulife.ca/remax and click on “Access your account”. Make changes by phone by calling 1 888 727 7766.
Each calendar year, you are able to make four paper-based investment transfer requests at no charge. Any subsequent paper-based investment transfers will require an administration fee of $25 each.

Q. does manulife offer no-load fund options?
A. All of the fund options available through your RE/MAX Retirement Savings Plan are no-load options. To find out more about the fees you pay, visit www.manulife.ca/remax or www.bestagent.ca. Click on “Check out your funds” to access the rate of return for the investment option in your program.