The 2023 RRSP deadline is approaching. Please have your 2023 contributions at the OHHA office by December 1, 2023. The annual contribution form can be found below.
Owners, trainers, drivers and breeders, or full-time grooms and assistant trainers may be eligible for this contribution to their account.
For further information please contact the OHHA office at 1-866-774-6442 (toll free) or 905-854-6442
These webinars are offered by Manulife for the OHHA members. They cover a variety of subjects including setting a retirement goal , changing your beneficiary, and direction of funds.
Members who made a contribution to their RRSP account in 2022 will have their contribution slips mailed to them by Manulife beginning February 3. You will need them for your 2022 income tax. So watch for them in the mail, and keep them for your income tax preparation. Manulife charges $10 to replace receipts.
Members making a RRSP contribution during the first 60 days of 2023 will have receipts for those contributions mailed beginning March 25.
At its most recent meeting the RRSP Committee recognized the necessity to make some significant changes to the Standardbred Horsepeople’s Retirement Program. Since eligibility for the industry contribution to members’ accounts is based on the previous year’s starts, it was decided that, due to declining racing opportunities in 2013, the number of starts needed to qualify for the industry contribution would be reduced to 12 starts for the 2014 year. For greater clarity, a person contributing to their RRSP in 2014 would need 12 starts as an owner, trainer, driver or breeder (any one category) in 2013 to be eligible for the industry contribution.
This will enable more people to qualify for the industry contribution to their account, thus benefitting more industry participants as well as providing incentive to join the plan to those who have not yet done so.
It was further decided to modify the plan so that up to $1,000 may be allocated as the industry contribution. The plan is funded by a percentage of the 1996 tax reduction from the bet, so the amount of money going into the plan in any given year is determined by the betting handle. The amount of the industry contribution is determined in the fall of each year, when the total funds available at year end can be estimated.
Anyone currently involved in the Standardbred Industry as an owner, trainer, driver, breeder, assistant trainer or groom may join the plan and contribute any year. Eligibility for the industry contribution is determined by having 12 starts in the previous year as an owner, trainer, driver, or breeder, or providing proof of full-time employment as an assistant trainer or groom in the previous year. All contributions must be made directly to OHHA, the plan administrator, before the December 1 deadline.
Any inquiries or requests regarding current accounts should be directed to OHHA.
Contribution, enrollment forms and Conditions of Eligibility may be found near the bottom of this page. For further information, call the OHHA office at 905-854-6442 or 1-866-774-6442.
ENROLLMENT AND ANNUAL CONTRIBUTION FORMS
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