Arcelormittal Tubular Products Canada Inc Sample Clauses

Arcelormittal Tubular Products Canada Inc. Pension Plan for Woodstock Unionized Employees A. All existing Woodstock unionized employees as of March 31, 2014, will continue to accrue service under the existing defined benefit pension plan. Woodstock unionized employees who are on a layoff status as of March 31, 2014, and who are recalled to work at a later date will continue to accrue service under the existing defined benefit pension plan. B. Effective April 1, 2014, a new defined contribution component (called the DC Component) will be added to the current pension plan and will be administered as described below.
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Arcelormittal Tubular Products Canada Inc. Pension Plan for Woodstock Unionized Employees – DC Component A. Eligibility & Enrollment 1. Applies only to newly hired Woodstock unionized employees effective April 1, 2014 and later. 2. Enrollment will be effective commencing with the first payroll cycle coincident with or immediately following the employee’s completion of the required probationary period (480 working hours). Upon enrollment, a defined contribution account will be established in the participant’s name. 3. Employees being enrolled in the Plan will be asked to name a beneficiary. If the employee does not provide a valid beneficiary designation, the beneficiary will be determined in accordance with Plan provisions. 4. Employees being enrolled in the Plan will also be asked to provide investment instructions for their defined contribution account. If no or incomplete investment instructions are provided or if instructions are provided after contributions have been posted to the employee’s account, the employee’s account will be invested in the default investment fund until such time as complete investment instructions are provided.
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Arcelormittal Tubular Products Canada Inc 
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