Changing from RSP Gold to RSP Silver – Grandfathering Rule. If the bargaining unit decides to switch from RSP Gold to RSP Silver, any active employee who was at least age 45 and had a minimum of 36 months of contributions in RSP Gold at the time the change was effective, will be “grandfathered” under the ‘old’ RSP 60-month eligibility rules and will need only 60 months of contributions to qualify for RSP Silver. This “grandfather” provision only applies to eligibility – a grandfathered retiree (and spouse) will still pay a post- retirement retiree co-contribution equal to 20% of the cost of RSP Silver coverage.
Appears in 4 contracts
Samples: Application and Subscriber’s Agreement, Application and Subscriber’s Agreement, Application and Subscriber’s Agreement
