Accumulated Leave Plans Sample Clauses

Accumulated Leave Plans. All employees who turn 55 or older in the calendar year in which they retire will take part in an Accumulated Leave Plan that is offered by one of the following four companies: VOYA, MetLife Investors Group, Variable Annuity Life Insurance Co., or Xxxxxx Xxxx. 1. If a retiring member is a participant in an accumulated leave plan, an employer contribution shall be made on his/her behalf under the accumulated leave plan within seventy-five (75) calendar days of the participant’s last workday in an amount equal to the lesser of: a. The total amount of the Participant’s Severance Pay, or b. The maximum contribution amount allowable under the terms of the accumulated leave plan. 2. To the extent that an accumulated leave plan participant’s severance pay exceeds the maximum amount allowable under the accumulated leave plan for a calendar year, the excess amount shall be payable to the accumulated leave plan in the following January, up to the maximum accumulated leave plan limits for that calendar year. If there is any remaining excess, it shall likewise be paid in subsequent calendar years; provided, however, that if any excess remains at the end of the fifth calendar year following the calendar year of retirement, the remainder shall be paid in cash to the retired employee. 3. If a member is entitled to have a contribution paid to an accumulated leave plan and dies prior to such contribution being paid to the Plan, the contribution shall be paid to the estate of the deceased member.
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Accumulated Leave Plans. All employees who turn 55 or older in the calendar year in which they retire will take part in an Accumulated Leave Plan that is offered by ING. 1. If a retiring member is a participant in an accumulated leave plan, an employer contribution shall be made on his/her behalf under the accumulated leave plan within seventy-five (75) calendar days of the participant's last workday in an amount equal to the lesser of: a. The total amount of the Participant's Severance Pay, or b. The max contribution amount allowable under the terms of the accumulated leave plan.

Related to Accumulated Leave Plans

  • Accumulated Sick Leave ‌ The Employer shall inform all employees at least once each year of the number of sick days accumulated and shall make the information available to an employee on request.

  • Accumulation of Vacation Leave Credits An employee shall earn vacation leave credits for each calendar month during which the employee receives pay for at least ten (10) days at the following rate:

  • Self-Funded Leave Plan (a) The Self-Funded Leave Plan shall afford an Employee the opportunity to enter into an agreement with the Board to take a one year Self-Funded Leave. During the leave term the Employee shall agree to be paid at: (i) 5/6 leave plan 83% of salary (ii) 4/5 leave plan 80% of salary (iii) 3/4 leave plan 75% of salary

  • Prepaid Leave Plan The Employer agrees to introduce a prepaid leave program, funded solely by the nurse, subject to the following terms and conditions: (a) The plan is available to nurses wishing to spread four (4) year’s salary over a five (5) year period, in accordance with Part LXVIII of the Income Tax Regulations, Section 6801, to enable them to take a one (1) year leave of absence to pursue formal education following the four (4) years of salary deferral. (b) The nurse must make written application to the Administrator or designate at least six (6) months prior to the intended commencement date of the program (i.e. the salary deferral portion), stating the intended purpose of the leave. (c) The year for purposes of the program shall be September 1 of one year to August 31 the following year or such other twelve (12) month period as may be agreed upon by the nurse, the local Association and the Employer. There shall be one (1) nurse allowed off at any one time. (d) Written applications for the purpose of pursuing further formal education will be reviewed by the Administrator or designate for leaves requested. (e) During the four (4) years of salary deferral, 20% of the nurses’ gross annual earnings will be deducted and held for the nurse and will not be accessible to her/him until the year of the leave or upon withdrawal from the plan. (f) The manner in which the deferred salary is held shall be at the discretion of the Employer. (g) All deferred salary, plus accrued interest, if any, shall be paid to the nurse at the commencement of the leave or in accordance with such other payment schedule as may be agreed upon between the Employer and the Nurse. (h) All benefits shall be kept whole during the four (4) years of salary deferral. During the year of the leave, seniority will accumulate. Service for the purpose of vacation and salary progression and other benefits will be retained but will not accumulate during the period of leave. The nurse shall become responsible for the full payment of premiums for any health and welfare benefits in which she is participating. Contributions to the Ontario Municipal Nurses Retirement System will be in accordance with the Plan. The nurses will not be eligible to participate in the disability income plan during the year of the leave. (i) A nurse may withdraw from the plan at any time during the deferral portion provided three (3) months’ notice is given to the Administrator or designate. Deferred salary, plus accrued interest, if any, will be returned to the nurse, within a reasonable period of time. (j) If the nurse terminates employment, the deferred salary held by the Employer plus accrued interest, if any, will be returned to the nurse within a reasonable period of time. In case of the nurse’s death, the funds will be paid to the nurse’s estate. (k) The Employer will endeavour to find a temporary replacement for the nurse as far in advance as practicable. If the Employer is unable to find a suitable replacement, it may postpone the leave. The Employer will give the nurse as much notice as is reasonably possible. The nurse will have the option of remaining in the plan and rearranging the leave at a mutually agreeable time or of withdrawing from the Plan and having the deferred salary, plus accrued interest, if any, paid out to the nurse within a reasonable period of time. (l) The nurse will be reinstated to her/his former position unless the position has been discontinued, in which case the nurse shall be given a comparable job. (m) Final approval for entry into the pre-paid leave program will be subject to the nurse entering into a formal agreement with the Employer in order to authorize the Employer to make the appropriate deductions from the nurse’s pay. Such agreement will include: (i) A statement that the nurse is entering the prepaid leave program in accordance with Article 11.06 of the Collective Agreement (ii) The period of salary deferral and the period for which the leave is requested. (iii) The manner in which the deferred salary is to be held. The letter of application from the nurse to the Employer to enter the prepaid leave program will be appended to and form part of the written agreement.

  • Vacation Leave Accrual ‌ After a full-time employee has been in pay status for eighty (80) non-overtime hours in a calendar month, the employee will accrue vacation leave according to the rate schedule below. Vacation leave accrual for part-time employees will be proportionate to the number of hours the part-time employee is in pay status during the month to that required for full-time employment.

  • Accumulation of Vacation Leave For each month of a fiscal year in which an employee receives ten (10) days pay, he shall earn vacation leave at the following rates:

  • Sick Leave Benefit Plan The Sick Leave Benefit Plan will provide sick leave days and short term disability days for reasons of personal illness, personal injury, including personal medical appointments and personal dental appointments.

  • Sick Leave Accumulation (a) An employee is eligible to accumulate sick leave with full pay at the rate of 16 working hours for each 173 1/3 hours of service. (b) The maximum number of days of sick leave which may be awarded to an employee during any consecutive twenty (20) year period of service shall not exceed 3840 hours.

  • Sick Leave Plan The benefits of the Company’s Sick Leave Plan shall be considered as part of this Agreement. However, it is recognized that its provisions are not an automatic right of an employee and the administration of this plan and all decisions regarding the appropriateness or degree of its application shall be vested solely in the Company. The Company’s Sick Leave Plan will provide that probationary and regular employees will commence with a credit of eight days at 100 percent (100%) and 15 days at 75 percent (75%) pay, payable from the first day of sickness. This credit will continue to be available until the employee attains his/her first annual accumulation date as a regular employee. At the time of this accumulation date and each subsequent accumulation date he/she will acquire additional credits of eight days at 100 percent (100%) pay and 15 days at 75 percent (75%) pay. The accumulation of credits will be subject to the provisions of the Company’s Sick Leave Plan. Regular part-time employees shall receive a pro-rated number of sick days. When a regular part-time employee is absent due to illness on a scheduled day of work, they shall be paid for the hours of work scheduled for that day provided sick leave credits are available. Normally employees will be expected to arrange routine medical or dental appointments during non-working hours. Where such appointments cannot be arranged during non-working hours and the employee can be released from his/her duties, then the time shall be charged against an employee's sick leave time except in the case of medical appointments of less than half a day where normal earnings will be maintained. Employees who are on sick leave for 30 days or more may be eligible to participate in a vocational rehabilitation program in accordance with the Company’s policy. All major medical absence forms will be completed for any absence of four (4) continuous days/shifts or more or when requested by management. The Company will compensate the employee for the cost associated with completing these forms up to a maximum of $30.00. Additionally, the company will compensate the employee for the full cost of all medical notes, medical forms or medical information required to support LTD or other Wellness programs. This provision applies to Doctor’s notes requested by Line Management as part of the administration of the sick leave plan. Employees will be required to submit all forms required by management through their personal physician. Sick Leave benefits are conditional upon receipt of these forms and it is the responsibility of the employee to ensure that the employer receives these forms within a reasonable period of time. Any discipline related to sick leave that is imposed and grieved by the union will be referred directly to Xxxxxx Xxxxxxxxx for resolution.

  • Pre-Paid Leave Plan The Hospital agrees to introduce a pre-paid leave program, funded solely by the nurse, subject to the following terms and conditions: (a) The plan is available to nurses wishing to spread four (4) years' salary over a five (5) year period, in accordance with Part LXVIII of the Income (b) The nurse must make written application to the Chief Nursing Officer or Supervisor at least six (6) months prior to the intended commencement date of the program (i.e., the salary deferral portion), stating the intended purpose of the leave. (c) The number of nurses that may be absent at any one time shall be determined by local negotiations. The year for purposes of the program shall be September 1 of one year to August 31 the following year or such other twelve (12) month period as may be agreed upon by the nurse, the local Union and the Hospital. (d) Written applications will be reviewed by the Chief Nursing Officer, Supervisor or designate. Leaves requested for the purpose of pursuing further formal nursing education will be given priority. Applications for leaves requested for other purposes will be given the next level of priority on the basis of seniority. (e) During the four (4) years of salary deferral, 20% of the nurse's gross annual earnings will be deducted and held for the nurse and will not be accessible to her or him until the year of the leave or upon withdrawal from the plan. (f) The manner in which the deferred salary is held shall be at the discretion of the Hospital. (g) All deferred salary, plus accrued interest, if any, shall be paid to the nurse at the commencement of the leave or in accordance with such other payment schedule as may be agreed upon between the Hospital and the nurse. (h) All benefits shall be kept whole during the four (4) years of salary deferral. During the year of the leave, seniority will accumulate. Service for the purpose of vacation and salary progression and other benefits will be retained but will not accumulate during the period of leave. Full-time nurses shall become responsible for the full payment of premiums for any health and welfare benefits in which they are participating. Contributions to the Hospitals of Ontario Pension Plan will be in accordance with the Plan. Full-time nurses will not be eligible to participate in the disability income plan during the year of leave. (i) A nurse may withdraw from the plan at any time during the deferral portion provided three (3) months notice is given to the Chief Nursing Officer or Supervisor. Deferred salary, plus accrued interest, if any, will be returned to the nurse, within a reasonable period of time. (j) If the nurse terminates employment, the deferred salary held by the Hospital plus accrued interest, if any, will be returned to the nurse within a reasonable period of time. In case of the nurse's death, the funds will be paid to the nurse's estate. (k) The Hospital will endeavour to find a temporary replacement for the nurse as far in advance as practicable. If the Hospital is unable to find a suitable replacement, it may postpone the leave. The Hospital will give the nurse as much notice as is reasonably possible. The nurse will have the option of remaining in the Plan and rearranging the leave at a mutually agreeable time or of withdrawing from the Plan and having the deferred salary, plus accrued interest, if any, paid out to the nurse within a reasonable period of time. (l) The nurse will be reinstated to her or his former position unless the position has been discontinued, in which case the nurse shall be given a comparable job. (m) Final approval for entry into the pre-paid leave program will be subject to the nurse entering into a formal agreement with the Hospital in order to authorize the Hospital to make the appropriate deductions from the nurse's pay. Such agreement will include: i) A statement that the nurse is entering the pre-paid leave program in accordance with Article 11.11 of the Collective Agreement. ii) The period of salary deferral and the period for which the leave is requested. iii) The manner in which the deferred salary is to be held. The letter of application from the nurse to the Hospital to enter the pre- paid leave program will be appended to and form part of the written agreement.

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