Common use of Deferral Plan Clause in Contracts

Deferral Plan. The deferral portion of the plan shall involve an employee spreading four (4) years’ salary over a five (5) year period. During the four (4) years of salary deferral, twenty percent (20%) of the Employee’s gross annual earnings will be deducted and held for the Employee. Such deferred salary will not be accessible to the Employee until the year of the leave or upon the collapse of the plan.

Appears in 2 contracts

Samples: Collective Agreement, Collective Agreement

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Deferral Plan. The deferral portion of the plan shall involve an employee spreading four (4) years' salary over a five (5) year period. During the four (4) years 4)years of salary deferral, twenty percent (20%) of the Employee’s employee's gross annual earnings will be deducted and held for the Employeeemployee. Such deferred salary will not be accessible to the Employee employee until the year of the leave or upon the collapse of the plan.

Appears in 1 contract

Samples: Collective Agreement

Deferral Plan. The deferral portion of the plan shall involve an employee Employee spreading four (4) years' salary over a five (5) year period. During the four (4) years of years' salary deferral, twenty percent (20%) % of the Employee’s 's gross annual earnings will be deducted and held for the Employee. Such deferred salary will not be accessible to the Employee until the year of the leave or upon the collapse of the plan. The leave may be postponed no later than six (6) years from the date the salary deferrals for the leave of absence commenced.

Appears in 1 contract

Samples: Collective Agreement

Deferral Plan. The deferral portion of the plan shall involve an employee spreading four (4) years' salary over a five (5) year period, or such other schedule may be mutually agreed between the employee and the Employer. During In the case of the four (4) years' salary over a five (5) year schedule, during the four (4) years of salary deferral, twenty percent (20%) of the Employee’s employee's gross annual earnings will be deducted and held for the Employeeemployee. Such deferred salary will not be accessible to the Employee until the year of the leave or upon the collapse of the plan.not

Appears in 1 contract

Samples: Collective Agreement

Deferral Plan. The deferral portion of the plan shall involve an employee spreading four (4) years’ 4)years' salary over a five (5) year period. During the four (4) years 4)years of salary deferral, twenty percent (20%) of the Employee’s employee's gross annual earnings will be deducted and held for the Employeeemployee. Such deferred salary will not be accessible to the Employee employee until the year of the leave or upon the collapse of the plan.

Appears in 1 contract

Samples: Collective Agreement

Deferral Plan. The deferral portion of the plan shall involve an employee spreading four (4) years' salary over a five (5) year period, or such other schedule as may be mutually agreed between the employee and the Hospital. During In the case of the four (4) years of years' salary deferralover a five (5) year schedule, twenty percent (20%) of during the Employee’s gross annual earnings will be deducted and held for the Employee. Such deferred salary will not be accessible to the Employee until the year of the leave or upon the collapse of the plan.four

Appears in 1 contract

Samples: Collective Agreement

Deferral Plan. The deferral portion of the plan shall involve an employee spreading four (4) years' salary over a five (5) year period. During the four (4) years of salary deferral, twenty percent (20%) of the Employeeemployee’s gross annual earnings will be deducted and held for the Employeeemployee. Such deferred salary will not be accessible to the Employee employee until the year of the leave or upon the collapse of the plan. An employee may request that the deferral portion of the plan be less than four (4) years and the percentage of the employee's gross annual earnings which will be deducted and held will be increased accordingly.

Appears in 1 contract

Samples: Collective Agreement

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Deferral Plan. The deferral portion of the plan shall involve an employee spreading four (4) years’ salary over a five (5) year period. During the four (4) years of salary deferral, twenty percent (20%) of the Employeeemployee’s gross annual earnings will be deducted and held for the Employeeemployee. Such deferred salary will not be accessible to the Employee employee until the year of the leave or upon the collapse of o f the plan.

Appears in 1 contract

Samples: Collective Agreement

Deferral Plan. The deferral portion of the plan shall involve an employee spreading four (4) years’ salary over a five (5) year period. During the four (4) years years’ of salary deferral, twenty percent (20%) of the Employeeemployee’s gross annual earnings will be deducted and held for the Employeeemployee. Such deferred salary will not be accessible to the Employee employee until the year of the leave or upon the collapse of the plan.

Appears in 1 contract

Samples: Collective Agreement

Deferral Plan. The deferral portion of the plan shall involve an employee spreading four (4) years' salary over a five (5) year period. During the four (4) years of salary deferral, twenty percent per cent (20%) of the Employee’s employee's gross annual earnings will be deducted and held for the Employeeemployee. Such deferred salary will not be accessible to the Employee employee until the year of the leave or upon the collapse of the plan.

Appears in 1 contract

Samples: Collective Agreement

Deferral Plan. The deferral portion of the plan shall involve an employee spreading four (4) years’ salary over a five (5) year period. During the four (4) years of salary deferral, twenty percent (20%) of the Employeeemployee’s gross annual earnings will be deducted and held for the Employeeemployee. Such deferred deferral salary will not be accessible to the Employee employee until the year of the leave or upon the collapse of the plan.

Appears in 1 contract

Samples: Collective Bargaining Agreement

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