Applicability of Benefits. The Short disability benefit shall not be available during the leave. Employees shall maintain their Long Term Disability coverage. Vacation shall not be taken during the leave, nor shall vacation credits accumulate during the leave. However, seniority shall accumulatefor the entire period of leave, and service for the purpose of otherwise determining the level of vacation entitlement shall include the period of leave. Withdrawal A participant may, with the approval of the University, withdraw from the Plan in unusual or extenuating circumstances (e.g. financial hardship or serious illness). Requests for withdrawal must be submitted in writing, detailing the for withdrawal before three (3) months prior to commencement of leave, The University shall maintain the request and its approval as part of University records. When a request for withdrawal is approved, the Universityshall pay to the employee a lump sum amount equal to monies deferred plus interest accrued to the date of withdrawal from the Plan. Payment shall be made as soon as possible, but must be made within thirty (30) days of approval of withdrawal from the Plan. Leave Postponement The University may, for good and sufficient reason, up to three (3) months prior to commencement of the leave, postpone the period of the leave for not longer than one (1) year. Inthis instance, a participant may choose to remain in the Plan, or receive payments as outlined under "Withdrawal Rights" above. The participant may, for good and sufficient reason, request in writing that the leave period be postponed. The University may, at its discretion, grant a postponement, but under no circumstances shall the postponement exceed one (1) year. Interest Accumulation Should the above (Leave Postponement) result in a leave of absence beingtaken laterthan the intended period, any monies accumulated until the intendedcommencement date will continue to accumulate interest untilthe leave is granted. On Any participant who resigns, laid off or otherwise terminated prior to commencement of the leave shall cease to be a participant in the Plan, and shall receive payment as outlined under "Withdrawal Rights" above. It is understood that deferred wages invested under the trustee agreement may not be returned to the employee until such time as the maturity date of such investments under the auspices of the trust mature.
Appears in 1 contract
Samples: Collective Bargaining Agreement
Applicability of Benefits. The 105 days Short disability Term Disability benefit shall not be available during the leave. Employees shall maintain their Long Term Disability coveragecoverage as outlined in Article 17. Vacation shall not be taken during the leave, nor shall vacation credits accumulate during the leave. However, seniority shall accumulatefor accumulate for the entire period of leave, and service for the purpose of otherwise determining the level of vacation entitlement shall include the period of leave. Withdrawal A participant may, with the approval of the University, withdraw from the Plan in unusual or extenuating circumstances (e.g. financial hardship or serious illness). Requests for withdrawal must be submitted in writing, detailing the reason(s) for withdrawal before three (3) months prior to commencement of leave, . The University shall maintain the request and its approval as part of University records. When a request for withdrawal is approved, the Universityshall University shall pay to the employee a lump sum amount equal to monies deferred plus interest accrued accrued, less required statutory deductions, to the date of withdrawal from the Plan. Payment shall be made as soon as possible, but must be made within thirty (30) days of approval of withdrawal from the Plan. Leave Postponement The University may, for good and sufficient reason, up to three (3) months prior to commencement of the leave, postpone the period of the leave for not longer than one (1) year. Inthis In this instance, a participant may choose to remain in the Plan, or receive payments as outlined under "Withdrawal Rights" above. The participant may, for good and sufficient reason, request in writing that the leave period be postponed. The University may, at its discretion, grant a postponement, but under no circumstances shall the postponement exceed one (1) yearyear and the participant must remain in the Plan. Interest Accumulation Should the above (Leave Postponement) result in a leave of absence beingtaken laterthan being taken later than the intended period, any monies accumulated until the intendedcommencement intended commencement date will continue to accumulate interest untilthe until the leave is granted. On Any participant who resigns, is laid off off, or otherwise terminated prior to commencement of the leave shall cease to be a participant in the Plan, and shall receive payment as outlined under "βWithdrawal Rights" β above. It is understood that deferred wages invested under the trustee agreement may not be returned to the employee until such time as the maturity date of such investments under the auspices of the trust mature.
Appears in 1 contract
Samples: Collective Agreement
Applicability of Benefits. The Short disability Term Disability benefit shall not be available during the leave. Employees shall maintain their Long Term Disability coverage. Vacation shall not be taken during the leave, nor shall vacation credits accumulate during the leave. However, seniority shall accumulatefor accumulate for the entire period of leave, and service for the purpose of otherwise determining the level of vacation entitlement shall include the period of leave. Withdrawal Rights - A participant may, with the approval of the UniversityEmployer, withdraw from the Plan in unusual or extenuating circumstances (e.g. financial hardship or serious illness). Requests for withdrawal must be submitted in writing, detailing the reason(s) for withdrawal before three (3) months prior to commencement of leave, . The University Employer shall maintain the request and its approval as part of University records. When a request for withdrawal is approved, the Universityshall Employer shall pay to the employee a lump sum amount equal to monies deferred plus interest accrued to the date of withdrawal from the Plan. Payment shall be made as soon as possible, but must be made within thirty (30) days of approval of withdrawal from the Plan. Leave Postponement - The University Employer may, for good and sufficient reason, up to three (3) months prior to commencement of the leave, postpone the period of the leave for not longer than one (1) year. Inthis In this instance, a participant may choose to remain in the Plan, or receive payments as outlined under "Withdrawal Rights" above. The participant may, for good and sufficient reason, request in writing that the leave period be postponed. The University may, at its discretion, grant a postponement, but under no circumstances shall the postponement exceed one (1) year. Interest Accumulation - Should the above (Leave Postponement) result in a leave of absence beingtaken laterthan being taken later than the intended period, any monies accumulated until the intendedcommencement intended commencement date will continue to accumulate interest untilthe until the leave is granted. On Leaving Employment - Any participant who resigns, is laid off or otherwise terminated prior to commencement of the leave shall cease to be a participant in the Plan, and shall receive payment as outlined under "Withdrawal Rights" above. It is understood Death Clause - Should a participant die while enrolled in the Plan, any monies accumulated, plus interest accrued at the date of death, will be paid to their estate/beneficiary. Every agreement entered into under "Written Agreement" shall state that deferred wages invested under the trustee agreement may not be returned monies paid to the estate of an employee until such time as under this section are a "right or thing" within the maturity date of such investments under the auspices meaning of the trust matureIncome Tax Act and shall be taxable as income in the year of the employee's death in accordance with the Income Tax Act. Serious Illness - Should a participant be unable to take the leave when scheduled because of serious injury of illness occurring before commencement of the leave, the employee may cancel the leave and receive payment as outlined under "Withdrawal Rights" or, with the consent of the Employer, defer the leave to a time mutually agreeable not to exceed one (1) year.
Appears in 1 contract
Samples: Collective Agreement
Applicability of Benefits. The Short Term disability benefit shall not be available during the leave. Employees shall maintain their Long Term Disability coverage. Vacation shall not be taken during the leave, nor shall vacation credits accumulate during the leave. However, seniority shall accumulatefor accumulate for the entire period of leave, and service for the purpose of otherwise determining the level of vacation entitlement shall include the period of leave. Withdrawal Rights - A participant may, with the approval of the University, withdraw from the Plan in unusual or extenuating circumstances (e.g. financial hardship or serious illness). Requests for withdrawal must be submitted in writing, detailing the for withdrawal before three (3) months prior to commencement of leave, The University shall maintain the request and its approval as part of University records. When a request for withdrawal is approved, the Universityshall pay to the employee a lump sum amount equal to monies deferred plus interest accrued to the date of withdrawal from the Plan. Payment shall be made as soon as possible, but must be made within thirty (30) days of approval of withdrawal from the Plan. Leave Postponement - The University may, for good and sufficient reason, up to three (3) months prior to commencement of the leave, postpone the period of the leave for not longer than one (1) year. Inthis In this instance, a participant may choose to remain in the Plan, or receive payments as outlined under "Withdrawal Rights" above. The participant may, for good and sufficient reason, request in writing that the leave period be postponed. The University may, at its discretion, grant a postponement, but under no circumstances shall the postponement exceed one (1) year. Interest Accumulation - Should the above (Leave Postponement) result in a leave of absence beingtaken laterthan being taken later than the intended period, any monies accumulated until the intendedcommencement intended commencement date will continue to accumulate interest untilthe until the leave is granted. On Leaving Employment - Any participant who resigns, is laid off or otherwise terminated prior to commencement of the leave shall cease to be a participant in the Plan, and shall Death Clause - Should a participant die while enrolled in the Plan, any monies accumulated, plus interest accrued at the date of death, will be paid to their estate/beneficiary. Every agreement entered into under "Written Agreement" shall state that monies paid to the estate of an employee under this section are a "right or thing" within the meaning of the Income Tax Act and shall be taxable as income in the year of the employee's death in accordance with the Income Tax Act. Serious Illness - Should a participant be unable to take the leave when scheduled because of serious injury of illness occurring before commencement of the leave, the employee may cancel the leave and receive payment as outlined under "Withdrawal Rights" above. It is understood that deferred wages invested under or, with the trustee agreement may not be returned to the employee until such time as the maturity date of such investments under the auspices consent of the trust matureUniversity, defer the leave to a time mutually agreeable not to exceed one (1) year.
Appears in 1 contract
Samples: Collective Bargaining Agreement
Applicability of Benefits. The Short Term disability benefit shall not be available during the leave. Employees shall maintain their Long Term Disability coverage. Vacation shall not be taken during the leave, nor shall vacation credits accumulate during the leave. However, seniority shall accumulatefor accumulate for the entire period of leave, and service for the purpose of otherwise determining the level of vacation entitlement shall include the period of leave. Withdrawal Rights - A participant may, with the approval of the University, withdraw from the Plan in unusual or extenuating circumstances (e.g. financial hardship or serious illness). Requests for withdrawal must be submitted in writing, detailing the reason(s) for withdrawal before three (3) months prior to commencement of leave, . The University shall maintain the request and its approval as part of University records. When a request for withdrawal is approved, the Universityshall University shall pay to the employee a lump sum amount equal to monies deferred plus interest accrued to the date of withdrawal from the Plan. Payment shall be made as soon as possible, but must be made within thirty (30) days of approval of withdrawal from the Plan. Leave Postponement - The University may, for good and sufficient reason, up to three (3) months prior to commencement of the leave, postpone the period of the leave for not longer than one (1) year. Inthis In this instance, a participant may choose to remain in the Plan, or receive payments as outlined under "Withdrawal Rights" above. The participant may, for good and sufficient reason, request in writing that the leave period be postponed. The University may, at its discretion, grant a postponement, but under no circumstances shall the postponement exceed one (1) year. Interest Accumulation - Should the above (Leave Postponement) result in a leave of absence beingtaken laterthan being taken later than the intended period, any monies accumulated until the intendedcommencement intended commencement date will continue to accumulate interest untilthe until the leave is granted. On Leaving Employment - Any participant who resigns, is laid off or otherwise terminated prior to commencement of the leave shall cease to be a participant in the Plan, and shall receive payment as outlined under "Withdrawal Rights" above. It is understood Death Clause - Should a participant die while enrolled in the Plan, any monies accumulated, plus interest accrued at the date of death, will be paid to their estate/beneficiary. Every agreement entered into under "Written Agreement" shall state that deferred wages invested under the trustee agreement may not be returned monies paid to the estate of an employee until such time as under this section are a "right or thing" within the maturity date of such investments under the auspices meaning of the trust matureIncome Tax Act and shall be taxable as income in the year of the employee's death in accordance with the Income Tax Act. Serious Illness - Should a participant be unable to take the leave when scheduled because of serious injury of illness occurring before commencement of the leave, the employee may cancel the leave and receive payment as outlined under "Withdrawal Rights" or, with the consent of the University, defer the leave to a time mutually agreeable not to exceed one (1) year.
Appears in 1 contract
Samples: Collective Agreement