Funded Leave Plan. The Employer agrees to make available to Employees on Seniority List A the Self Funded Leave as outlined in Appendix C.
Funded Leave Plan. The Employer agrees to establish an employee- financed absence with leave plan to permit employees to be absent for a period of either six (6) months or one
Funded Leave Plan. Note: The details of this Self-Funded Leave Plan are subject to the approval of Canada Customs and Revenue Agency (CCRA) (formerly known as Revenue Canada) prior to implementation.
Funded Leave Plan. The Employer agrees to establish an financed absence with leave plan to permit employees to be absent for a period of either six months or one year. Application for this leave must be in writing to the Human Resource and be at least two years in advance for the six month leave and four years in advance for the one year leave. Approval of leave is at the Employer’s discretion. The terms and conditions of the plan are subject to consultation with the Labour/Management Committee.
Funded Leave Plan. The Self Funded Leave Plan has been developed to afford Employees the opportunity of taking up to one year leave of absence and, through deferral of salary, to finance the leave subject to the regulations under the Income Tax Act. To be eligible to participate in the plan, an Employee must have three years service with the Board. An Employee must make a written application to the Director of Education on or before March requesting approval to participate in the plan. On or before April the Director of Education or designate shall reply in writing stating whether or not application has been approved and providing an explanation if the application is denied. The right to reject or approve individual requests to participate in the plan will rest solely with the Board. In each year of the Plan preceding the year of the leave, an Employee shall be paid of annual salary. The remaining of annual salary shall be deferred and deposited to a joint trust fund at the Employer's banking institution with an account heading "Bluewater District School Board In Trust for (name of Employee)". The amount deposited to this account will be retained for the Employee to finance the year of the leave. Interest will be retained and paid out at the end of the calendar year. Consideration will be given to a request for a leave to be financed by deduction of a larger amount of salary over a shorter period of time. For example, deduct for three years to finance a leave in the fourth year or deduct for two years to finance a leave in the third year. The length of the Plan shall not exceed six years, including the year of the leave. The scheduled year of leave will only be taken in the last year of the Plan. At the start of the leave of absence, the amount deposited to the Employee account plus accrued interest to that date shall be transferred to the general account of the Bluewater District School Board to pay the Employee's salary, and no further interest shall be earned.
Funded Leave Plan. The Self-Funded Leave Plan shall afford an Employee the opportunity to enter into an agreement with the Board to take a one year Self-Funded Leave. During the leave term the Employee shall agree to be paid at: normally paid under the current Collective Agreement in each of these years. shall be withdrawn by the Board in each of the years leading up to the Funded Leave year. The amounts withdrawn shall be invested by the Board. The amount withdrawn plus accrued interest shall be paid to the Employee during the year of leave. During all years that the individual Employee is participating in the Funded Leave Plan, all Employee benefits shall be maintained at a level as if the Employee was being paid at of salary. Premium costs during the Self-Funded Leave will be paid in full by the Employee. During the Funded Leave year, the Board shall deduct from each pay an amount equivalent to the total monthly premium costs paid on the Employee’s behalf. The Board assumes no responsibility for any consequences arising out of the implementation of the Plan related to its effect on the Pension Plan provision, income tax implications, Employment Insurance and the Canada Pension Plan.
Funded Leave Plan. Description: Self funded leave plan has been developed to afford employees the opportunity of taking up to a one year leave of absence and, through deferral finance the leave subject to the regulations under the Income Tax Act.
Funded Leave Plan. The Society will establish an Employee funded leave plan pursuant to which a permanent Employee, with approval of the Society, may defer between five (5) and twenty (20) percent of salary for each of four (4) consecutive “terms” and then take a consecutive “term” of absence. The conditions of the Leave Plan are as follows:
Funded Leave Plan. Employees shall be entitled to take part in a self-funded leave of absence pian subject to the continuation of the Plan by the Canada Revenue Agency. The parties acknowledge that of the plan are as generally described in Appendix A attached to this Agreement,
Funded Leave Plan. The Self-funded Leave Plan (hereinafter called the Plan) exists to enable up to thirty (30) teachers, in any given year, to take a one year leave of absence without pay and to finance this leave through deferral of salary in an agreed upon number of years prior to the date of the leave. Any teacher having at least three (3) years seniority with the Board shall be eligible to participate in the Plan in accordance with the conditions of this Article. The period over which salary is to be deferred and accumulated, the amount deferred, and the year in which the leave is to be taken shall be one of the following:
