Employee Self-Funded Leave Plan. Nurses who wish to avail themselves of a prepaid leave from employment shall be allowed to do so in accordance with the requirements of Appendix “A” to this agreement.
Employee Self-Funded Leave Plan. The employee self-funded leave plan permits employees the opportunity of taking a one (1) year leave of absence through deferral of salary to finance the leave. Employees may be entitled to participate in this plan in accordance with Board policy.
Employee Self-Funded Leave Plan. FULL-TIME EMPLOYEES The parties acknowledge the benefit to both of them in establishing an employee self-funded leave plan and the following terms and conditions shall apply to a plan for employee financed leaves to be instituted by agreement between the parties. The Parties agree as follows: That an employee receives three fourths (3/4) of wages in the 1st , 2nd, and 3rd years. One fourth (1/4) of wages is deducted in each of the 1st, 2nd, and 3rd year and placed in trust for the leave in the 4th year; or That an employee receives four fifths (4/5) of wages in the 1st , 2nd, 3rd, and 4th years. One fifth (1/5) of wages is deducted in each of the 1st, 2nd, 3rd, and 4th year and placed in trust for the leave in the 5th year; and, That the granting of such leaves shall be at the sole discretion of the Association having due regard for work requirements; and, That applications from Employees wishing to enter into an agreement with the Association on such leave must be in writing no less than thirty (30) working days in advance of the intended commencement of the wage deferral program; and, That the monies deducted shall be deposited on behalf of the Employee in trust and shall accrue interest at the prevailing rates as allocated by the receiving agency; and, That deduction shall be made from the prevailing wages in each year of the option agreement. The accumulated amount including accrued interest shall then be paid out to the Employee in regular instalments in the year of the leave. Payments will be made on normal pay dates of the pay schedule for that year; and, That wages in each year of the option plan except the year of the leave shall be subject to the full deductions for income tax and pension with full service being credited for each year. The year of the leave shall constitute a year of service; and, That the Employee’s seniority shall continue to accumulate during the year of the leave; and That where the leave has been granted the Association will post the vacated position as a temporary vacancy, in accordance with Article 11 of the Collective Agreement, for the duration of the leave. The Association shall reinstate the person on leave to the same position to the one they left; and, That in the event that the position of the person on leave ceases to exist by reasons of staff reduction or organizational changes requiring layoff, the employee may choose to cease the leave plan and the funds accumulated together with accrued interested shall be paid...
