Employee R.R.S.P. Contribution: The Employer will deduct from each Employee five percent (5%) of gross earnings as Employee Savings Plan Deductions and remit the same to the Union.
Employee R.R.S.P. 38.01 Effective January 1, 2008 and subject to continued employment as set out in paragraph 2, the Company will contribute to an individual registered retirement savings plan (“RRSP”) in respect of each employee who has completed at least 2 years of continuous service prior to January 1 of any calendar year (an “Eligible Employee”), as follows: The Company will contribute one percent (1%) of the Eligible Employee’s wages, bonus and commission income earned in the previous calendar year; and, the Company will contribute an additional one percent (1%) of the Eligible Employee’s wages, bonus and commission income earned in the previous calendar year, if the Eligible Employee has completed three (3) or more years of continuous service prior to January 1. The Company will make the RRSP contribution in twelve (12) equal monthly installments starting no later than the last day of January in each year. Notwithstanding anything to the contrary, all contribution instalments made with respect to any particular Eligible Employee will cease immediately on the date of termination or permanent layoff of that particular Eligible Employee and the Company will have no further obligation to the Eligible Employee whether monetary or otherwise. The RRSP will initially be provided through and administered by the Investors Group, but the provider and administrator of the RRSP may be changed at the Company’s sole discretion. Except for disputes over eligibility and contributions, no action respecting this section of the RRSP or any disputes relating to the RRSP, including any disputes with respect to the administration of the RRSP or any investment decisions made by any Eligible Employee or the RRSP will be the subject of any grievance or arbitration under this Agreement. All disputes will be resolved by the procedure specified in the RRSP or by applicable law and the Union and each Eligible Employee waives (and each Eligible Employee will execute such waiver in favour of the Company) any claim against the Company in respect of the RRSP, except claims relating to eligibility and the contributions required to be made by the Company pursuant to paragraphs 1 and 2.
Employee R.R.S.P. Permanent Employees shall be eligible to participate in an RRSP program currently provided by the Employer.
