CLAC Pension Plan Sample Clauses

CLAC Pension Plan. 14.01 CLAC Pension Plan (the “Plan”), a defined contribution, registered pension plan, which is registered with the Canada Revenue Agency and the Financial Services Commission of Ontario under #0398594, applies to all employees covered by this Collective Agreement. It is mandatory that all employees covered by this Collective Agreement join and contribute the CLAC Pension Plan. 14.02 New employees shall join the Plan upon completion of the three (3) month probationary period. Contributions, by both employee and Employer, shall begin at the commencement of the next pay period after expiry of the probationary period. 14.03 Each month, the Employer shall remit to the Remittance Processing Centre (RPC), for each eligible employee, an Employer contribution to the Plan as described in Schedule “A”. Employer contributions will vest in accordance with the rules of the Plan. 14.04 The employee mandatory contribution to the CLAC Pension Plan shall be three percent (3%) of their gross wages. The Employer shall deduct these monies from the employee’s pay and remit same to the Union together with the CLAC Health Fund. 14.05 Employees shall have the rights to make additional voluntary contribution to the CLAC Pension Plan via payroll deductions. A request for such deductions shall be submitted to the Employer on a form provided by the Plan and a copy of the completed form shall be sent to the RPC along with the first remittance of such voluntary contributions. Employees shall be permitted to adjust their additional voluntary employee pension contributions a maximum of once per six (6) months. 14.06 The Employer agrees to deduct, by way of payroll deduction, and remit to the RPC, mandatory employee contributions and additional voluntary employee pension contributions which are above and beyond those contributions outlined in Schedule “A”. 14.07 The total amount of all contributions being the sum of, the amount remitted by the Employer on an employee's behalf, the employees mandatory contributions and any employee voluntary contributions, shall not exceed the annual maximum money purchase contribution limits outlined by the Canada Revenue Agency. 14.08 The Employer will remit all contributions to the RPC within fifteen (15) days following the end of the month for which contributions are payable, together with an itemized list of the employees and the amounts applicable to each. The remittance shall include only funds for pay periods completed in the previous month. Employ...
Sample 1Sample 2See All (12)
AutoNDA by SimpleDocs
CLAC Pension Plan. The CLAC Pension Plan (the plan), a defined contribution, registered pension plan, which is registered with the Canada Revenue Agency and the Financial Services Commission of Ontario under #0398594, applies to all seniority employees covered by this Collective Agreement.
Sample 1Sample 2See All (5)
CLAC Pension Plan. The Pension Plan is maintained and administered by the Union and is supervised by the Board of Trustees. Registered with the Financial Securities Commission of Ontario as Pension Plan 0398594, for the benefit of all employees covered under this Agreement.
Sample 1Sample 2See All (4)
CLAC Pension Plan a. The Christian Labour Association of Canada (CLAC) contribution pension plan governed by the CLAC Pension Plan Board of Trustees, and registered with the Canada Revenue Agency under #0398594, applies to all employees covered by this Collective Agreement. b. An employee shall be eligible to participate in the Plan and shall be enrolled in the Plan upon reaching eighteen (18) months of seniority.
Sample 1
CLAC Pension Plan. All employees covered by this agreement shall participate in or shall continue to participate in the CLAC Registered Pension Plan (“the Plan”) in accordance with the Plan’s express terms and conditions.
Sample 1
CLAC Pension Plan. The CLAC Pension Plan (the plan), a defined contribution, registered pension plan, which is registered with the Canada Revenue Agency and the Financial Services Commission of Ontario under #0398594, applies to all employees covered by this Collective Agreement. New employees will join the Plan immediately upon attaining twelve (12) months of seniority. Should an employee be laid off for more than six (6) consecutive months, but returns to work with the Employer within twelve
Sample 1
CLAC Pension Plan a. The Christian Labour Association of Canada (CLAC) Pension Plan (“the Plan”), a registered defined contribution pension plan governed by the CLAC Pension Plan Board of Trustees, and registered with the Canada Revenue Agency under #0398594, applies to all employees covered by this Collective Agreement. b. An employee shall be eligible to participate in the Plan and shall be enrolled in the Plan upon reaching two thousand (2000) consecutive hours worked. c. Mandatory Employer/Employee Matching Contributions - From each eligible employee the Employer shall deduct an amount equal to three (3%) percent of the employee’s gross wages as a mandatory employee contribution to the Plan. On behalf of each eligible, the Employer shall contribute an amount equal to three (3%) percent of the employee’s gross wages as a mandatory matching contribution to the Plan. These contributions shall be remitted to the Union’s Remittance Team.
Sample 1
AutoNDA by SimpleDocs
CLAC Pension Plan a. The CLAC Pension Plan (the “Pension Plan”), a defined contribution, registered pension plan, which is registered with the Canada Revenue Agency and the Financial Services Commission of Ontario under #0398594, applies to all employees covered by this Collective Agreement. b. All employees, hired after June 1, 2016, shall join the Pension Plan immediately upon completion of the probationary period. Employees hired prior June 1, 2016 are not required to participate in the Pension Plan. c. The Employer shall contribute to the Plan and remit to the applicable CLAC Remittance Team, on behalf of each eligible employee, an Employer contribution equal to four (4%) percent of an employee’s gross wages. Employer contributions will vest in accordance with the rules of the Pension Plan. Effective at ratification, increase Employer contribution to 4.5% Effective June 1, 2021, increase Employer contribution to 6%
Sample 1
CLAC Pension Plan is maintained and administered by the Union and is supervised by a Board of Trustees. Registered with the Canada Customs and Revenue Agency (CCRA) and the Financial Services Commission of Ontario (FSCO) as Pension Plan #0398594, the Plan is designed for the benefit of all employees covered under this Agreement. The Employer and Employees shall contribute matching contributions to the Pension Plan, on behalf of each employee, the hourly amounts described in Schedule “A” of this Agreement, beginning from the first day of employment. The Employer agrees to deduct, by way of payroll deduction, and remit to the Union’s Benefit Administration Office, voluntary employee pension contributions in addition to any other collective agreement Pension Plan contributions. Such amounts shall not exceed the limits established by the Canada Customs and Revenue Agency. These monies will be recorded separately on the Employer’s monthly remittance to the Benefit Administration Office. The Employer's contributions to the Health Fund and Pension Plan shall be recorded on a remittance sheet supplied by the Union. On this sheet the Employer will enter: 1. name of employee; 2. total hours' worked during the month for which the remittance is made; 3. date of termination (where applicable); 4. hourly rate of pay;
Sample 1

Related to CLAC Pension Plan

  • No Pension Plans Neither the Company nor any current or past ERISA Affiliate has ever maintained, established, sponsored, participated in, or contributed to, any Pension Plans subject to Title IV of ERISA or Section 412 of the Code.

  • Canadian Pension Plans The Loan Parties shall not (a) contribute to or assume an obligation to contribute to any Canadian Defined Benefit Plan, without the prior written consent of the Administrative Agent, or (b) acquire an interest in any Person if such Person sponsors, administers, maintains or contributes to or has any liability in respect of any Canadian Defined Benefit Plan, or at any time in the five-year period preceding such acquisition has sponsored, administered, maintained, or contributed to a Canadian Defined Benefit Plan, without the prior written consent of the Administrative Agent.

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time-to-time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time-to-time by the Company for the benefit of its senior executives, other than any annual cash incentive plan.

  • Pension Plan Employers and/or individuals who manage, operate, assist or own, either partially or wholly, a company or companies working non-union in the construction industry on Mainland Nova Scotia within the craft jurisdiction of xxx Xxxxxxxxxx Local 83 shall not be eligible to be appointed to serve, or to continue to serve, as trustees on any trust fund referred to within this Collective Agreement. This provision shall apply to management trustees and union trustees alike. 29.01 It is agreed that the employer shall pay into the established Pension Fund an amount per hour for each hour paid as per the wage tables in Craft Schedule “A”, “B”, “S” and Appendix “MIP”. Pension contributions shall be calculated based on the base hourly rate and vacation pay, and no premium shall affect this. For the purposes of this Article, overtime rates payable in accordance with Article 16 are not premiums. Such contributions shall be paid to the Trustees of the Pension Fund on or before the fifteenth (15th) day of the month following the month such hours were worked and shall be accompanied by a remittance report form for each employee on a form prescribed by the Trustees of the Fund. Each monthly report and contributions shall include all obligations arising from hours worked up to the preceding calendar month. 29.02 It is agreed that provisions for an increase in the Pension Plan (other than those increases listed above) will be implemented if so desired by the Local, with the employer contribution to be deducted from the wages rates contained herein, provided the employer receives sixty (60) days notice of such change. 29.03 The Pension Plan shall be professionally administered. 29.04 Neither the United Brotherhood of Carpenters and Joiners of America, Local 83, nor the Nova Scotia Construction Labour Relations Association shall incur any legal liability with regard to claims arising from the Pension Plan. 29.05 Employers bound by, or subject to the Agreement, shall be required to maintain for a two (2) year period, a complete set of employment records including: • employee’s name, address, and S.I.N. • number of hours worked by the employee in each week • employee’s wage rate and gross earnings, amount(s) and description of deductions from the employee’s wages • particulars of pay allowances or other payments or benefits to which the employee is entitled.

  • Municipal Pension Plan (a) An employer will provide the Municipal Pension Plan (MPP) to all eligible employees. (b) Employees of record on March 31, 2010, who meet the eligibility requirements of the MPP, have the option of joining or not joining the MPP. Eligible employees who initially elect not to join the MPP on April 1, 2010, have the right to join the MPP at any later date but will not be able to contribute or purchase service for the period waived. (c) All regular full-time employees hired after March 31, 2010, will be enrolled in the MPP upon completion of the earlier of their probationary period or three months and will continue in the plan as a condition of employment. Full-time hours of work are defined in the local issues agreement specific to each employer. Regular part-time employees and casual employees hired after April 1, 2010, who meet the eligibility requirements of the MPP have the right to enrol or not enrol in the MPP. Those who initially decline participation have the right to join the MPP at any later date. The MPP rules currently provide that a person who has completed two years of continuous employment with earnings from an employer of not less than 35% of the year's maximum pensionable earnings in each of two consecutive calendar years will be enrolled in the Plan. This rule will not apply when an eligible employee gives a written waiver to the Employer. (d) Employers will ensure that all new employees are informed of the options available to them under the MPP rules. (e) Eligibility and terms and conditions for the pension will be those contained in the Municipal Pension Plan and associated documents. (f) If there is a conflict between the terms of this agreement and the MPP rules, the MPP must prevail. Note: MPP contact information: Web: http:\\xxx.xxxxxxxxxx.xx Email: xxx@xxxxxxxxxx.xx Victoria Phone: 0-000-000-0000 BC Phone: 0-000-000-0000

  • Guaranteed Pension Plans Each contribution required to be made to a Guaranteed Pension Plan, whether required to be made to avoid the incurrence of an accumulated funding deficiency, the notice or lien provisions of §302(f) of ERISA, or otherwise, has been timely made. No waiver of an accumulated funding deficiency or extension of amortization periods has been received with respect to any Guaranteed Pension Plan, and neither the Borrower nor any ERISA Affiliate is obligated to or has posted security in connection with an amendment to a Guaranteed Pension Plan pursuant to §307 of ERISA or §401(a)(29) of the Code. No liability to the PBGC (other than required insurance premiums, all of which have been paid) has been incurred by the Borrower or any ERISA Affiliate with respect to any Guaranteed Pension Plan and there has not been any ERISA Reportable Event (other than an ERISA Reportable Event as to which the requirement of 30 days notice has been waived), or any other event or condition which presents a material risk of termination of any Guaranteed Pension Plan by the PBGC. Based on the latest valuation of each Guaranteed Pension Plan (which in each case occurred within twelve months of the date of this representation), and on the actuarial methods and assumptions employed for that valuation, the aggregate benefit liabilities of all such Guaranteed Pension Plans within the meaning of §4001 of ERISA did not exceed the aggregate value of the assets of all such Guaranteed Pension Plans, disregarding for this purpose the benefit liabilities and assets of any Guaranteed Pension Plan with assets in excess of benefit liabilities.

  • Pension Plans Any of the following events shall occur with respect to any Pension Plan (a) the institution of any steps by the Borrower, any member of its Controlled Group or any other Person to terminate a Pension Plan if, as a result of such termination, the Borrower or any such member could be required to make a contribution to such Pension Plan, or could reasonably expect to incur a liability or obligation to such Pension Plan, in excess of $10,000,000; or (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 302(f) of ERISA.

  • Benefit Plan If an employee maintains coverage for benefit plans while on maternity or parental leave, the Employer agrees to pay the Employer's share of these premiums.

  • ERISA; Benefit Plans Schedule 5.13 sets forth a list of all material deferred compensation, profit-sharing, retirement and pension plans and all material bonus and other material employee benefit or fringe benefit plans maintained, or with respect to which contributions have been made, by Seller with respect to current or former employees employed in connection with the power generation operations of the Generating Plants and the Gas Turbines (collectively, "Benefit Plans"). Seller and each trade or business (whether or not incorporated) which are or have ever been under common control, or which are or have ever been treated as a single employer, with Seller under Section 414(b), (c), (m) or (o) of the Code (an "ERISA Affiliate") have fulfilled their respective obligations under the minimum funding requirements of Section 302 of ERISA, and Section 412 of the Code, with respect to each Benefit Plan which is an "employee pension benefit plan" as defined in Section 3(2) of ERISA and each such plan is in compliance in all material respects with the presently applicable provisions of ERISA and the Code, except for such failures to fulfill such obligations or comply with such provisions which would not, individually or in the aggregate, create a Material Adverse Effect. Neither Seller nor any ERISA Affiliate has incurred any liability under Section 4062(b) of ERISA, or any withdrawal liability under Section 4201 of ERISA, to the Pension Benefit Guaranty Corporation in connection with any Benefit Plan which is subject to Title IV of ERISA which liability remains outstanding, and there has not been any reportable event (as defined in Section 4043 of ERISA) with respect to any such Benefit Plan (other than a reportable event with respect to which the 30-day notice requirement has been waived by the PBGC). Neither Seller nor any ERISA Affiliate or parent corporation, within the meaning of Section 4069(b) or Section 4212(c) of ERISA, has engaged in any transaction, within the meaning of Section 4069(b) or Section 4212(c)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!