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Common use of Contribution Rates Clause in Contracts

Contribution Rates. ‌ (a) The Employer agrees to match employee contributions, through payroll deductions, up to a maximum contribution at the rate of 5% of gross salary; and (b) New employees will be eligible to receive the employer contribution after the completion of two or more years of service. Gross salary means the wages paid to the employee including shift premiums and substitution pay but excluding any overtime, bonuses or profit sharing.

Appears in 2 contracts

Samples: Collective Agreement, Collective Agreement

Contribution Rates. (a) The the Employer agrees to match employee contributions, through payroll deductions, up to a maximum contribution at the rate of five percent (5% %) of gross salary; and (b) New employees will be eligible to receive the employer contribution after the completion of two (2) or more years of service. Gross salary means the wages paid to the employee including shift premiums and substitution pay but excluding any overtime, bonuses or profit sharing.

Appears in 1 contract

Samples: Collective Agreement

Contribution Rates. ‌ (a) The the Employer agrees to match employee contributions, through payroll deductions, up to a maximum contribution at the rate of five percent (5% %) of gross salary; and (b) New employees will be eligible to receive the employer contribution after the completion of two (2) or more years of service. Gross salary means the wages paid to the employee including shift premiums and substitution pay but excluding any overtime, bonuses or profit sharing.

Appears in 1 contract

Samples: Collective Agreement