Common use of Defined Benefit Pension Plan Clause in Contracts

Defined Benefit Pension Plan. (a) Nurses shall enrol in the Pension Plan in accordance with the provisions and requirements of the Plan. (b) Nurses in the bargaining unit shall participate in accordance with the eligibility provisions of the CBS Defined Benefit Pension (the “Plan”). The rate at which the nurses shall contribute to the Plan shall be as established from time to time in accordance with the terms of the Plan. The rate at which the Employer shall contribute to the Plan is limited to the fixed amount established, from time to time, in accordance with the terms of the Plan. The parties agree that the Plan is a defined benefit pension plan to which section 14(3) of the Pension Benefits Act, R.S.O. 1990 c. p. 8 and section 6(1) of Regulation 909 under the Pension Benefits Act, supra, apply. For purposes of clarity, the contribution rate of both nurses and the Employer are described in the Sample Contribution Schedule below. SAMPLE CONTRIBUTION SCHEDULE Employer Total Annual Members’ Contribution Cost Contribution Rate 14.00% 6.00% 8.00% 13.00% 5.50% 7.50% 12.00% 5.00% 7.00% 11.75% 4.88% 6.88% 11.50% 4.75% 6.75% 11.25% 4.75% 6.50% 11.00% 4.75% 6.25% 10.75% 4.75% 6.00% 10.50% 4.75% 5.75% 10.25% 4.75% 5.50% 10.00% 4.75% 5.25% 9.75% 4.75% 5.00% 9.50% 4.75% 4.75% 9.00% 4.50% 4.50% 8.00% 4.00% 4.00% 7.00% 3.50% 3.50% 1. The above contribution rates are prior to utilization of any surplus to reduce contributions. 2. Should total annual cost be set at a level greater than fourteen percent (14%), member and Employer contribution rates will be such that the Employer contribution rate is two percent (2%) greater than the members’ contribution rate. 3. Should total annual cost be set at a level lower than seven percent (7%), member and Employer contribution rates will be such that the Employer contribution rate is equal to the members’ contribution rate. 4. Members’ contribution rate and Employer contribution rate should be interpolated from the above table where the total annual cost falls between amounts shown. (c) A regular part time nurse, who has completed her probationary period, and who becomes eligible but does not join the Canadian Blood Services Pension Plan in accordance with the rules and regulations of the Plan, shall receive four percent (4.0%) of her individual straight time earnings in lieu of pension. (d) A regular part time, nurse who becomes eligible and joins the Canadian Blood Services Pension Plan in accordance with the rules and regulations of the Plan, shall no longer receive the pay in lieu of pension referred to in 25.05 c) above.

Defined Benefit Pension Plan. (a) Nurses Employees shall enrol in the Pension Plan in accordance with the provisions and requirements of the Plan. (b) Nurses Employees in the bargaining unit shall participate in accordance with the eligibility provisions of the CBS Defined Benefit Pension (the “Plan”). The rate at which the nurses employees shall contribute to the Plan shall be as established from time to time in accordance with the terms of the Plan. The rate at which the Employer employer shall contribute to the Plan is limited to the fixed amount established, established from time to time, time in accordance with the terms of the Plan. The parties agree that the Plan is a defined benefit pension plan to which section 14(3) of the Pension Benefits Act, R.S.O. 1990 c. p. 8 P.8 and section 6(1) of Regulation 909 under the Pension Benefits Act, supra, supra apply. For purposes of clarity, clarity the contribution rate of both nurses employees and the Employer employer are described in the Sample Contribution Schedule below. CBS DEFINED BENEFIT PENSION PLAN SAMPLE CONTRIBUTION SCHEDULE Employer Total Annual Cost Members’ Contribution Cost Rate Employer Contribution Rate 14.00% 6.00% 8.00% 13.00% 5.50% 7.50% 12.00% 5.00% 7.00% 11.75% 4.88% 6.88% 11.50% 4.75% 6.75% 11.25% 4.75% 6.50% 11.00% 4.75% 6.25% 10.75% 4.75% 6.00% 10.50% 4.75% 5.75% 10.25% 4.75% 5.50% 10.00% 4.75% 5.25% 9.75% 4.75% 5.00% 9.50% 4.75% 4.75% 9.00% 4.50% 4.50% 8.00% 4.00% 4.00% 7.00% Notes: 3.50% 3.50% (1. The above ) Above contribution rates are prior to utilization of any surplus to reduce contributions. (2. ) Should total annual cost be set at a level greater than fourteen percent (14%), member and Employer employer contribution rates will be such that the Employer employer contribution rate is two percent (2%) % greater than the members’ contribution rate. (3. ) Should total annual cost be set at a level lower than seven percent (7%), member and Employer employer contribution rates will be such that the Employer employer contribution rate is equal to the members’ contribution rate. (4. ) Members’ contribution rate and Employer employer contribution rate should be interpolated from the above table where the total annual cost falls between amounts shown. (c) A regular part time nurse, who has completed her probationary period, and who becomes eligible but does not join the Canadian Blood Services Pension Plan in accordance with the rules and regulations of the Plan, shall receive four percent (4.0%) of her individual straight time earnings in lieu of pension. (d) A regular part time, nurse who becomes eligible and joins the Canadian Blood Services Pension Plan in accordance with the rules and regulations of the Plan, shall no longer receive the pay in lieu of pension referred to in 25.05 c) above.

Defined Benefit Pension Plan. (a) Nurses shall enrol in the Pension Plan in accordance with the provisions and requirements of the Plan. (b) Nurses in the bargaining unit shall participate in accordance with the eligibility provisions of the CBS Defined Benefit Pension (the “Plan”). The rate at which the nurses shall contribute to the Plan shall be as established from time to time in accordance with the terms of the Plan. The rate at which the Employer shall contribute to the Plan is limited to the fixed amount established, from time to time, in accordance with the terms of the Plan. The parties agree that the Plan is a defined benefit pension plan to which section 14(3) of the Pension Benefits Act, R.S.O. 1990 c. p. 8 and section 6(1) of Regulation 909 under the Pension Benefits Act, supra, apply. For purposes of clarity, the contribution rate of both nurses and the Employer are described in the Sample Contribution Schedule below. SAMPLE CONTRIBUTION SCHEDULE Employer Total Annual Members’ Employer Contribution Cost Contribution Rate 14.00% 6.00% 8.00% 13.00% 5.50% 7.50% 12.00% 5.00% 7.00% 11.75% 4.88% 6.88% 11.50% 4.75% 6.75% 11.25% 4.75% 6.50% 11.00% 4.75% 6.25% 10.75% 4.75% 6.00% 10.50% 4.75% 5.75% 10.25% 4.75% 5.50% 10.00% 4.75% 5.25% 9.75% 4.75% 5.00% 9.50% 4.75% 4.75% 9.00% 4.50% 4.50% 8.00% 4.00% 4.00% 7.00% 3.50% 3.50% 1. The above contribution rates are prior to utilization of any surplus to reduce contributions. 2. Should total annual cost be set at a level greater than fourteen percent (14%), member and Employer contribution rates will be such that the Employer contribution rate is two percent (2%) % greater than the members’ contribution rate. 3. Should total annual cost be set at a level lower than seven percent (7%), member and Employer contribution rates will be such that the Employer contribution rate is equal to the members’ contribution rate. 4. Members’ contribution rate and Employer contribution rate should be interpolated from the above table where the total annual cost falls between amounts shown. (c) A regular part time nurse, who has completed her probationary period, and who becomes eligible but does not join the Canadian Blood Services Pension Plan in accordance with the rules and regulations of the Plan, shall receive four percent (4.0%) of her individual straight time earnings in lieu of pension. (d) A regular part time, nurse who becomes eligible and joins the Canadian Blood Services Pension Plan in accordance with the rules and regulations of the Plan, shall no longer receive the pay in lieu of pension referred to in 25.05 c) above.

Defined Benefit Pension Plan. (a) Nurses Employees shall enrol in the Pension Plan in accordance with the provisions and requirements of the Plan. (b) Nurses Employees in the bargaining unit shall participate in accordance with the eligibility provisions of the CBS Defined Benefit Pension (the “"Plan”"). The rate at which the nurses employees shall contribute to the Plan shall be as established from time to time in accordance with the terms of the Plan. The rate at which the Employer employer shall contribute to the Plan is limited to the fixed amount established, established from time to time, time in accordance with the terms of the Plan. The parties agree that the Plan is a defined benefit pension plan to which section 14(3) of the Pension Benefits Act, R.S.O. 1990 1 990 c. p. 8 P.8 and section 6(16(1 ) of Regulation 909 under the Pension Benefits Act, supra, supra apply. For purposes of clarity, clarity the contribution rate of both nurses employees and the Employer employer are described in the Sample Contribution Schedule below. SAMPLE CONTRIBUTION SCHEDULE Employer Total Annual Cost Members’ ' Contribution Cost Rate Employer Contribution Rate 14.00% 6.00% 8.00% 13.001 3.00% 5.50% 7.50% 12.001 2.00% 5.00% 7.00% 11.7511 .75% 4.88% 6.88% 11.5011 .50% 4.75% 6.75% 11.2511 .25% 4.75% 6.50% 11.0011 .00% 4.75% 6.25% 10.75% 4.75% 6.00% 10.501 0.50% 4.75% 5.75% 10.25% 4.75% 5.50% 10.001 0.00% 4.75% 5.25% 9.75% 4.75% 5.00% 9.50% 4.75% 4.75% 9.00% 4.50% 4.50% 8.00% 4.00% 4.00% 7.00% Notes: 3.50% 3.50%% CBS DEFINED BENEFIT PENSION PLAN SAMPLE CONTRIBUTION SCHEDULE (1. The above ) Above contribution rates are prior to utilization of any surplus to reduce contributions. (2. ) (4) Should total annual cost be set at a level greater than fourteen percent (14%), member and Employer employer contribution rates will be such that the Employer employer contribution rate is two percent (2%) % greater than the members’ ' contribution rate. (3. ) Should total annual cost be set at a level lower than seven percent (7%), member and Employer employer contribution rates will be such that the Employer employer contribution rate is equal to the members’ ' contribution rate. 4. Members’ ' contribution rate and Employer employer contribution rate should be interpolated from the above table where the total annual cost falls between amounts shown. (c) A regular part time nurse, who has completed her probationary period, and who becomes eligible but does not join the Canadian Blood Services Pension Plan in accordance with the rules and regulations of the Plan, shall receive four percent (4.0%) of her individual straight time earnings in lieu of pension. (d) A regular part time, nurse who becomes eligible and joins the Canadian Blood Services Pension Plan in accordance with the rules and regulations of the Plan, shall no longer receive the pay in lieu of pension referred to in 25.05 c) above.falls