During the Salary Deferral Period Sample Clauses

During the Salary Deferral Period.  You will continue to contribute to the Pension Plan based on your full one hundred percent (100%) salary.  Income Tax and both employee and employer Canada Pension Plan contribution will be based on your reduced salary.  Employment Insurance contributions will be based on your full one hundred percent (100%) salary.  Life Insurance and Long Term Disability premiums and benefits will be based on your full one hundred percent (100%) salary and normal cost-sharing arrangements will apply.  Major Medical and Dental Insurance premiums will be deducted, and the normal cost-sharing arrangements will apply.  Vacation credits, sick leave and seniority will accumulate as if you are receiving one hundred percent (100%) of salary.  You will continue to contribute to the Pension Plan on your full one hundred percent (100%) salary.  Income Tax and Canada Pension Plan contributions will be deducted from the deferred salary payments.  Employment Insurance premiums will not be deducted from the deferred salary payment as the leave period is not a period of employment for purposes of Employment Insurance (Unemployment, Sickness, Adoption, Maternity and Paternal Leave). The period of leave may hinder your eligibility for Employment Insurance Benefits. Please contact the Compensation and Benefits Department for further details.  Life Insurance and Long Term Disability premiums and benefits will be based on your full one hundred percent (100%) salary. Normal cost-sharing arrangements will apply. If you become disabled during the leave period your sick leave payments and long term disability elimination period will commence upon the scheduled completion of your leave, assuming you are disabled at that time.  Major Medical and Dental Insurance premiums will continue, and the normal cost- sharing arrangements will apply.  You will remain eligible for normal salary increases based on the level of performance while in full-time employment.  Vacation will not accumulate and cannot be used after the first month of leave.  Sick Leave will not accumulate after the first month of leave and cannot be used during any period of the leave.  You will continue to receive credit for length of service.  Seniority shall accrue during the period of leave.
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During the Salary Deferral Period. ▪ You will continue to contribute to the Pension Plan based on your full one hundred per cent (100%) salary. ▪ Income Tax and both employee and employer Canada Pension Plan contributions will be based on your reduced salary. ▪ Employment Insurance contributions will be based on your full one hundred per cent (100%) salary. ▪ Life Insurance and Long Term Disability premiums and benefits will be based on your full one hundred per cent (100%) salary and normal cost-sharing arrangements will apply. ▪ Major Medical and Dental Insurance premiums will be deducted, and the normal cost- sharing arrangements will apply. ▪ Vacation credits, sick leave and length of service will accumulate as if you are receiving one hundred per cent (100%) of salary.
Sample 1

Related to During the Salary Deferral Period

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

  • Limitation Year The Limitation Year is: (Choose (c) or (d)) [ x ] (c) The Plan Year. [ ] (d) The 12 consecutive month period ending every _____.

  • Salary Deductions Salaried employees (E-level classifications) who are permanently assigned to full-time job classifications are paid on a bi-weekly salary basis. Salaried employees are paid a bi-weekly salary based on a minimum of two (2) forty (40) hour workweeks. The bi-weekly salary received by salaried employees will not be reduced regardless of the number of hours the salaried employee actually works in any week in which the salaried employee performs any work except for the following deductions: (A) Deductions from a salaried employee's salary may be made for any workweek in which the salaried employee performs no work. (B) Deductions from a salaried employee's salary may be made when the employee absents himself from work for a full day or days for personal reasons, other than sickness or accident. This provision shall not prevent appropriate deductions from being made from any employee's vacation leave balance pursuant to Article 11 of this Agreement for absences of less than a day for personal reasons, other than sickness or accident. (C) Deductions from an employee's salary may be made when a salaried employee absents himself from work for a day (or days) for sickness or accident disability in accordance with the provisions of Articles 13 and 14 of this Agreement. (D) Deduction in a salaried employee's salary may be made for the initial or terminal week of the salaried employee if the salaried employee fails to work the entire workweek.

  • Election Period The period which begins on the first day of the Plan Year in which the Participant attains age thirty-five (35) and ends on the date of the Participant’s death. If a Participant separates from Service prior to the first day of the Plan Year in which age thirty-five (35) is attained, the Election Period shall begin on the date of separation, with respect to the account balance as of the date of separation.

  • Retention Period The Engineer shall maintain all books, documents, papers, accounting records and other evidence pertaining to costs incurred and services provided (hereinafter called the Records). The Engineer shall make the records available at its office during the contract period and for seven (7) years from the date of final payment under this contract, until completion of all audits, or until pending litigation has been completely and fully resolved, whichever occurs last.

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • Termination Period This Option shall be exercisable for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to Participant’s death or Disability, in which case this Option shall be exercisable for twelve (12) months after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided in Section 13 of the Plan.

  • Limitation Period Except as stated in this Clause, all claims must be made within the period specified by applicable law. If the law allows the parties to specify a shorter period for bringing claims, or the law does not provide a time at all, then claims must be made within 18 months after the event(s) giving rise to a dispute occurs.

  • Vacation Period ‌ The choice of vacation periods shall be granted to employees on the basis of seniority with the Employer except where the period requested would be detrimental to the operation of the Employer.

  • Vacation Pay on Termination An employee whose employment is terminated shall receive vacation pay at the appropriate percentage of the wages or salary earned during the period of entitlement in accordance with the employee's years of service.

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