Employee Plans Services - Recordkeeping and Administration

Description

Single sign on through the sponsor’s intranet

Enables participants to access ESPrit through the plan sponsor’s intranet

Corporate branding

ESPrit can be branded with the  sponsor’s name, logo and brand colours

ESPrit online services for participants

Includes transaction requests, password resets, contribution change functionality, account financial or demographic inquiries, forms and information, payment details, option modelling and online statements

ESPrit online services for client sponsors

Includes direct contribution file deposit, participant search, account inquiry, forms and information, payment details and a report repository for online reports

ESPrit integration

ESPrit is integrated with CIBC Mellon transfer agent systems for EFT, cheques, certificates, CDSX transfer, tax and proxy

Plan set up

CIBC Mellon provides templates to help identify key deliverables, scheduling and responsibilities, facilitating a quick and efficient plan set up

Member set up

Member demographic data is added to ESPrit using a standard data layout

Data conversion

CIBC Mellon provides sponsors with standard data conversion layouts to facilitate the conversion of existing participant data to ESPrit

Contribution processing

A standard file layout  is used to submit participant and sponsor contribution data

Investment of contributions

Participant contributions may be invested in treasury shares or through public market facilities

Stock option reserve control

Through ESPrit we maintain plan reserve control records to facilitate sponsor inquiry and reporting

Stock option grant recordkeeping

Each grant is recorded in the participant’s account.  Grant record details include term, exercise price, number of options, vesting rules, grant currency and options exercised, cancelled, expired, forfeited (the same data elements are maintained for share appreciation rights).

Stock option grant exercise

CIBC Mellon accepts member exercise instructions online via ESPrit (subject to sponsor approval) or in writing

Tax

CIBC Mellon completes tax reporting for income paid to plan participants, and statements of securities transactions for participant share sale services

Currency

CIBC Mellon accepts separate files for contributions in Canadian and U.S. dollars

Share Sale Services

Share sale services are available for participants who elect to sell their shares in accordance with established plan criteria