Common use of EMPLOYEE’S PENSION PLAN Clause in Contracts

EMPLOYEE’S PENSION PLAN. All permanent full-time employees must immediately participate in the Ontario Municipal Employees Retirement System plan (OMERS). Temporary full-time and part-time employees may be eligible for participation in OMERS provided certain criteria as established in the Pensions Benefits Act amendments are met by the employee and the employee opts to participate. Enrolment and contributions to the OMERS plan are in accordance with the rules and regulations of the plan as amended from time to time.

EMPLOYEE’S PENSION PLAN. All permanent full-time employees must immediately participate in the Ontario Municipal Employees Retirement System plan Plan (OMERS), and in addition the Region will provide at the Region’s expense, a 2% Type II Supplementary Plan based on the five year period ending December 31st, 1975, integrated with the Canada Pension Plan and any pension provided for service with predecessor employers of the Region. Temporary full-time and part-time employees may be are not eligible for participation in OMERS provided certain criteria as established in the Pensions Benefits Act amendments are met by the employee and the employee opts to participateOMERS. Enrolment and contributions Contributions to the OMERS plan are in accordance with the rules and regulations of the plan as amended from time to time.