For September. June: (1) Mid-month advance at approximately 50% of their monthly net pay. The monthly net pay includes a deduction for the payroll savings plan set at 16.67% of their net monthly salary. (2) Month-end payments of their regular salary less the mid-month advance and less the 16.67% of net monthly salary which will be paid into the Payroll Savings Plan. (3) Interest is calculated on the monies in the Payroll Savings Plan as follows: Average monthly interest rate that the Payroll Savings Plan account earns multiplied by the average monthly balance in the Plan.
Appears in 6 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
