Common use of E.R.S Clause in Contracts

E.R.S. Act and Regulations, use his/her adjusted sick time credit as credited time for pension purposes prior to his/her retirement. (For example, a member who has 1040 hours and effectively ceases work and goes on leave of absence on February 1st, with 33-1/2 years service, would be retained on the payroll for approximately six (6) months and his/her service for O.M.E.R.S. purposes would be 34 years.) During that period of approximately six (6) months the member would not be covered by the provisions of the Workplace Safety and Insurance Act and would not receive vacation, statutory holiday entitlement, or any other benefits hereunder save and except such insured benefits available to members hereunder. In any case service could not be extended under this option beyond a maximum of thirty- five (35) years by such use of adjusted sick time credits.

Appears in 3 contracts

Samples: Collective Agreement, Collective Agreement, Collective Agreement

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E.R.S. Act and Regulations, use his/her adjusted sick time credit as credited time for pension purposes prior to his/her retirement. (For example, a member who has 1040 hours and effectively ceases work and goes on leave of absence on February 1st, with 33-1/2 years service, would be retained on the payroll for approximately six (6) months and his/her service for O.M.E.R.S. purposes would be 34 years.) During that period of approximately six (6) months the member would not be covered by the provisions of the Workplace Safety and Insurance Act and would not receive vacation, statutory holiday entitlement, or any other benefits hereunder save and except such insured benefits available to members hereunder. In any case service could not be extended under this option beyond a maximum of thirty- thirty-five (35) years by such use of adjusted sick time credits.

Appears in 1 contract

Samples: Collective Agreement

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