For July and August i. Interest to June 30th is calculated on the plan and added to the individual employee’s accumulation in the Payroll Savings Plan.
For July and August. A. The amount accumulated in the Payroll Savings Plan will be paid by the Board in two equal installments into the employee’s bank account on July 15 and August 15. If any of these days are non-banking days, the transfer will be made on the last banking day preceding these days.
For July and August i. The amount held in each teacher’s account with the Royal Bank of Canada’s Trusteed Deposit Services, including all interest earned to June 30, will be paid by the Board in four equal payments, to the employee’s primary bank account on file in the Payroll Department records. The four equal payments will occur on July 15th and 31st, and August 15th and 31st. If any of these four dates are non- banking days, the payment will be made on the last banking day proceeding these dates.
For July and August i. Interest to June 30th is calculated on the Plan and added to the individual employee‘s accumulation in the Payroll Savings Plan, minus any administration costs incurred by the Board. Administration costs may include but are not restricted to : payroll and technical employees salaries and benefits, banking institution fees and any fees and costs related to payroll software improvements or modifications directly related to the implementation of the Payroll Savings Plan ;
For July and August. 1. The amount held for each teacher, including interest paid at the same rate as would have been paid by the Financial Institution will be paid by the Board in four equal payments, to the employee’s primary bank account on file in the Payroll Department records. The four equal payments will occur on July 15, July 31, August 15, and August 31. If any of these four days are non-banking days, the payment will be made on the last banking day preceding these dates.
