Defined Benefits (DB) Pension Plan Sample Clauses

Defined Benefits (DB) Pension Plan. Employees will be covered under the Terms and Conditions of the Lafarge Canada Inc. Pension Plan and will be given past service credit effective January 1, 1974. Employees hired before October 31, 2015 are eligible to receive benefits under the Defined Benefits (DB) portion of the Lafarge Canada Inc. Non Salaried Pension Plan, subject to the terms and provisions of the Plan, with the exception of tradespersons as outlined in 20.02 (f). For each period of ten (10) years of continuous employment accumulated after January 1, 1974, an employee at the Richmond Plant shall receive up to one (1) year of pensionable service to be applied against time lost due to layoff. In addition, if an employee retires from the Company, the years in excess of units of ten (10) shall be credited with up to one-tenth (1/10) of a year of service for each such additional year to be applied against time lost as a result of leaves of absence, strikes or lock-out. In addition, any part of the one (1) year of pensionable service gained by the above Provision and not used for time lost due to layoff experienced after January 1, 1974, will be applied to service prior to January 1, 1974. The plan provides pension benefits in accordance with the formula noted below:
Sample 1
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Related to Defined Benefits (DB) Pension Plan

  • Defined Benefit Pension Plan 1. The Employer and the Union hereby agree to the continuation of the existing Northern California Glaziers, Architectural Metal and Glass Workers Pension Trust Agreement ("Defined Benefit Pension Trust").

  • Defined Benefit Plan A plan under which a Participant’s benefit is determined by a formula contained in the plan and no Employee accounts are maintained for Participants.

  • Retirement Plans In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, JHSS shall provide the following administrative services:

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.1.

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • Oregon Public Service Retirement Plan Pension Program Members For purposes of this Section 2, “employee” means an employee who is employed by the State on or after August 29, 2003 and who is not eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Group Registered Retirement Savings Plan 9.9.1 The College agrees to implement a group Registered Retirement Savings Plan for participation by employees. For regular employees who wish to participate in the Plan, the College agrees to contribute the total amount of the annual contribution by the fifteenth of the first month of the Benefit Year. The employee shall repay that contribution through payroll deduction in equal instalments throughout the Benefit Year.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

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