Common use of Deferred income plan Clause in Contracts

Deferred income plan. The parties agree to put into place a plan for all employees that will provide employees the option of deferring a portion of their income for a continuous three (3) year period and in the fourth year to take six (6) continuous months off, or three consecutive months for the purpose of education. The terms of the plant are set out as follows: This Addendum applies to Union Representatives. The purpose of this addendum is to vary and clarify certain terms of the Collective Agreement in order to introduce the Deferred Income Plan. No employee will receive benefits superior to those negotiated in the collective agreement for his/her category and status because of enrolment into the Deferred Income Plan. All health and other benefits, including, but not limited to: sick leave, vacation leave, uniform allowance, quarterly allowance, evening allowance, leased or purchased vehicle, and transportation allowance shall be suspended for the period that the employee is off work pursuant to this plan: Pursuant to this plan an employee(s) shall maintain all benefits but not limited to their Medical, Dental, Extended Health and Long Term Disability benefits for the period off work by reimbursing to the Employer the full cost of the premium of these benefits. Time off under this plan shall be credited to the employee's continuous service. Employees wishing to enroll in the Deferred Income Plan will apply in writing in a minimum of two (2) months before enrolment stating the percentage of their wages they wish to have deferred and the percentage they wish to have paid. For three (3) years, the employees who have been granted enrollment shall be paid a percentage of their wages set out above. At the end of three (3) years, eligible employees shall be paid their entitlement of the monies in the Deferred Income Plan fund in three (3) or six (6) equal installments. While the fund shall be at no cost to the Employer, the Employer agrees that the plan can be administered and maintained in hours and that Employer will absorb the cost of its staff and overhead, but no bank charges or accounting fees incurred in providing this service. In the event that the administration of the plan is in dispute, the parties will hire a mutually agreed to outside consultant to maintain and administer the plan and the cost of such consultant will be borne by the plan. The fund shall be administer jointly by the United Food & Commercial Workers Union Local 1518 and a representative from the United Steelworkers. No more than one (1) Union Representative may enroll in the plan in any one calendar year or be off work in any one six (6) month period. The interest earned by the monies in the plan shall accrue in the plan. At the end of three years, employees who choose not to take three (3) or six (6) months off work shall be paid out their entitlement to the fund in on lump sum. The plan shall be subject to approval from Revenue Canada and the International Pension Plan. The parties shall have further discussion with a view to addressing additional concerns regarding the plan, which may arise from time to time. Differences regarding the plan shall be resolved by Xxxxx Ready in a process of Mediation/Arbitration.

Deferred income plan. The parties agree to put into place a plan for all employees Employees that will provide employees Employees the option of deferring a portion of their income for a continuous three (3) year period and in the fourth (4th) year to take one (1) year or six (6) continuous months off, or three (3) consecutive months for the purpose of education. The terms of the plant Plan are set out as follows: The parties agree as follows: (a) This Addendum Plan applies to Union Representatives. regular Employees in the Provincial and Regional Offices. (b) The purpose of this addendum language is to vary and clarify certain terms of the Collective Agreement in order to introduce the Deferred Income Plan: 1. No employee Employee will receive benefits superior to those negotiated in the collective agreement Collective Agreement for his/her their category and status because of enrolment the enrollment into the Deferred Income Plan; 2. All health and other benefits, benefits including, but not limited to: sick leave, vacation leave, uniform clothing allowance, quarterly telephone allowance, evening allowance, leased or purchased vehicle, and transportation allowance shall be suspended for the period that the employee Employee is off work pursuant to this plan: Pursuant to this plan an employee(s) Plan; 3. Employees shall maintain all benefits but not limited to have the option of maintaining their Medical, Dental, Extended Health and Long Long-Term Disability benefits for the period off work by reimbursing to the Employer the full cost of the premium of these benefits. 4. Time off under this plan Plan shall be credited to the employee's Employee’s continuous service. . (c) Employees wishing to enroll in the Deferred Income Plan will apply in writing in a minimum of two (2) months before enrolment enrollment stating the percentage of their wages they wish to have deferred and the percentage they wish to have paid. . (d) For three (3) years, the employees Employees who have been granted enrollment shall be paid a percentage of their wages set out above. At the end of three (3) years, eligible employees Employees shall be paid their entitlement of the monies in the Deferred Income Plan fund in three (3) or six (6) or twelve (12) equal installments. . (e) While the fund Fund shall be at no cost to the Employer, the Employer agrees that the plan Plan can be administered and maintained in hours in-house and that the Employer will absorb the cost of its staff and overhead, but no not bank charges or accounting fees fees, incurred in providing this service. In the event that the administration of the plan Plan is in dispute, the parties will hire a mutually agreed to outside consultant to maintain and administer the plan Plan and the cost of such consultant will be borne by the plan. Plan. (f) The fund Fund shall be administer jointly administered by the United Food & Commercial Workers Union Local 1518 a representative of PEA-HESU Chapter and a representative from of the United Steelworkers. HEU. (g) No more than two (2) Provincial Office staff members and one (1) Union Representative Regional Office staff member per Regional Office may enroll in the plan in any one calendar year or be off work in any one six (6) six-month period. . (h) The interest earned by the monies in the plan Plan shall accrue in to the plan. Plan. (i) At the end of three years, employees Employees who choose not to take three (3) or six (6) months or twelve (12) months off work work, shall be paid out their entitlement to the fund Fund in on one lump sum. . (j) The plan Plan shall be subject to approval from Canada Revenue Canada Agency and the International Municipal Pension Plan. . (k) The parties shall have further discussion with a view to addressing additional concerns regarding the planPlan, which may arise from time to time. Differences regarding the plan Plan shall be resolved by Xxxxx V. Ready in a process of Mediation/Arbitration. (l) Implementation of the Deferred Income Plan shall commence no later than March 31st, 1991.

Deferred income plan. The parties agree to put into place a plan for all employees Employees that will provide employees Employees the option of deferring a portion of their income for a continuous three (3) year period and in the fourth (4th) year to take six (6) continuous months off, or three (3) consecutive months for the purpose of education. The terms of the plant Plan are set out as follows: The parties agree as follows: (a) This Addendum Plan applies to Union Representatives. regular Employees in the Provincial and Regional Offices. (b) The purpose of this addendum language is to vary and clarify certain terms of the Collective Agreement in order to introduce the Deferred Income Plan: 1. No employee Employee will receive benefits superior to those negotiated in the collective agreement Collective Agreement for hisher/her his category and status because of enrolment the enrollment into the Deferred Income Plan; 2. All health and other benefits, benefits including, but not limited to: sick leave, vacation leave, uniform clothing allowance, quarterly telephone allowance, evening allowance, leased or purchased vehicle, and transportation allowance shall be suspended for the period that the employee Employee is off work pursuant to this plan: Pursuant to this plan an employee(s) Plan; 3. Employees shall maintain all benefits but not limited to have the option of maintaining their Medical, Dental, Extended Health and Long Long-Term Disability benefits for the period off work by reimbursing to the Employer the full cost of the premium of these benefits. 4. Time off under this plan Plan shall be credited to the employee's Employee’s continuous service. . (c) Employees wishing to enroll in the Deferred Income Plan will apply in writing in a minimum of two (2) months before enrolment enrollment stating the percentage of their wages they wish to have deferred and the percentage they wish to have paid. . (d) For three (3) years, the employees Employees who have been granted enrollment shall be paid a percentage of their wages set out above. At the end of three (3) years, eligible employees Employees shall be paid their entitlement of the monies in the Deferred Income Plan fund in three (3) or six (6) equal installments. . (e) While the fund Fund shall be at no cost to the Employer, the Employer agrees that the plan Plan can be administered and maintained in hours in-house and that the Employer will absorb the cost of its staff and overhead, but no not bank charges or accounting fees fees, incurred in providing this service. In the event that the administration of the plan Plan is in dispute, the parties will hire a mutually agreed to outside consultant to maintain and administer the plan Plan and the cost of such consultant will be borne by the plan. Plan. (f) The fund Fund shall be administer jointly administered by the United Food & Commercial Workers Union a representative of Unifor Local 1518 468-W and a representative from of the United Steelworkers. HEU. (g) No more than two (2) Provincial Office staff members and one (1) Union Representative Regional Office staff member per Regional Office may enroll in the plan in any one calendar year or be off work in any one six (6) six-month period. . (h) The interest earned by the monies in the plan Plan shall accrue in to the plan. Plan. (i) At the end of three years, employees Employees who choose not to take three (3) or six (6) months off work work, shall be paid out their entitlement to the fund Fund in on one lump sum. . (j) The plan Plan shall be subject to approval from Canada Revenue Canada Agency and the International Municipal Pension Plan. . (k) The parties shall have further discussion with a view to addressing additional concerns regarding the planPlan, which may arise from time to time. Differences regarding the plan Plan shall be resolved by Xxxxx V. Ready in a process of Mediation/Arbitration. (l) Implementation of the Deferred Income Plan shall commence no later than March 31st, 1991.

Deferred income plan. ‌ The parties agree to put into place a plan for all employees Employees that will provide employees Employees the option of deferring a portion of their income for a continuous three (3) year period and in the fourth (4th) year to take one (1) year or six (6) continuous months off, or three (3) consecutive months for the purpose of education. The terms of the plant Plan are set out as follows: The parties agree as follows: (a) This Addendum Plan applies to Union Representatives. regular Employees in the Provincial and Regional Offices. (b) The purpose of this addendum language is to vary and clarify certain terms of the Collective Agreement in order to introduce the Deferred Income Plan: 1. No employee Employee will receive benefits superior to those negotiated in the collective agreement Collective Agreement for his/her their category and status because of enrolment the enrollment into the Deferred Income Plan; 2. All health and other benefits, benefits including, but not limited to: sick leave, vacation leave, uniform clothing allowance, quarterly telephone allowance, evening allowance, leased or purchased vehicle, and transportation allowance shall be suspended for the period that the employee Employee is off work pursuant to this plan: Pursuant to this plan an employee(s) Plan; 3. Employees shall maintain all benefits but not limited to have the option of maintaining their Medical, Dental, Extended Health and Long Long-Term Disability benefits for the period off work by reimbursing to the Employer the full cost of the premium of these benefits. 4. Time off under this plan Plan shall be credited to the employee's Employee’s continuous service. . (c) Employees wishing to enroll in the Deferred Income Plan will apply in writing in a minimum of two (2) months before enrolment enrollment stating the percentage of their wages they wish to have deferred and the percentage they wish to have paid. . (d) For three (3) years, the employees Employees who have been granted enrollment shall be paid a percentage of their wages set out above. At the end of three (3) years, eligible employees Employees shall be paid their entitlement of the monies in the Deferred Income Plan fund in three (3) or six (6) or twelve (12) equal installments. . (e) While the fund Fund shall be at no cost to the Employer, the Employer agrees that the plan Plan can be administered and maintained in hours in-house and that the Employer will absorb the cost of its staff and overhead, but no not bank charges or accounting fees fees, incurred in providing this service. In the event that the administration of the plan Plan is in dispute, the parties will hire a mutually agreed to outside consultant to maintain and administer the plan Plan and the cost of such consultant will be borne by the plan. Plan. (f) The fund Fund shall be administer jointly administered by the United Food & Commercial Workers Union Local 1518 a representative of PEA-HESU Chapter and a representative from of the United Steelworkers. HEU. (g) No more than two (2) Provincial Office staff members and one (1) Union Representative Regional Office staff member per Regional Office may enroll in the plan in any one calendar year or be off work in any one six (6) six-month period. . (h) The interest earned by the monies in the plan Plan shall accrue in to the plan. Plan. (i) At the end of three years, employees Employees who choose not to take three (3) or six (6) months or twelve (12) months off work work, shall be paid out their entitlement to the fund Fund in on one lump sum. . (j) The plan Plan shall be subject to approval from Canada Revenue Canada Agency and the International Municipal Pension Plan. . (k) The parties shall have further discussion with a view to addressing additional concerns regarding the planPlan, which may arise from time to time. Differences regarding the plan Plan shall be resolved by Xxxxx V. Ready in a process of Mediation/Arbitration. (l) Implementation of the Deferred Income Plan shall commence no later than March 31st, 1991.