Government Pension Plans Sample Clauses

Government Pension Plans. Statutory benefits from government plans such as the Canada Pension Plan (C.P.P.) and the pension under the Old Age Security Act (O.A.S.) are in addition to the benefits payable under the Labatt Retirement Plan. Under current legislation your C.P.P. pension is payable when you reach age 65, or as early as age 60 on a reduced basis. The amount of your C.P.P. pension is dependent upon the amount of your earnings on which you have made C.P.P. contributions and the period during which you contributed. To illustrate, an employee who retires at age 65 in 2007 and who is entitled to maximum benefits under the Canada Pension Plan receives a pension of $863.75 per month (as of January 1, 2007) when he retires. After C.P.P. pension commences it is subject to adjustment depending upon increases in the Consumer Price Index. Your O.A.S. pension is also payable from age 65 but if you take up residence outside Canada your O.A.S. pension may be discontinued unless you have been a Canadian resident for a prescribed number of years. If you plan to move out of Canada you should check into these requirements. The amount of O.A.S. pension is subject to quarterly adjustment upward if the Consumer Price Index increases. In January, 2007 the O.A.S. pension was $491.93 per month. Your spouse will also receive O.A.S. pension benefits payable from age 65 subject to the same residency requirement specified above. You must apply to your local Canada Pension Plan Office to receive benefits from the Canada Pension Plan and Old Age Security. Applications should be filed 6 months in advance of your retirement date to ensure prompt commencement of your benefits. As well as retirement pension, the Canada Pension Plan provides certain disability, death and survivor benefits and further information can be obtained from your local Canada Pension Plan office.
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Government Pension Plans. Statutory benefits from government plans such as the Canada Pension Plan (CPP) and the pension under the Old Age Security Act (OAS) are in addition to the benefits payable under the Labatt Retirement Plan. Under current legislation your CPP pension is payable when you reach age 65, or as early as age 60 on a reduced basis. The amount of your CPP pension is dependent upon the amount of your earnings on which you have made CPP contributions and the period during which you contributed. To illustrate, an employee who retires at age 65 in 1996 and who is entitled to maximum benefits under the Canada Pension Plan receives a pension of $727.08 per month when he retires. After CPP pension commences it is subject to adjustment each following January 1st depending upon increases in the Consumer Price Index. Your OAS pension is also payable from age 65 but if you take up residence outside Canada your OAS pension may be discontinued unless you have been a Canadian resident for a prescribed number of years. If you plan to move out of Canada you should check into these requirements. The amount of OAS pension is subject to quarterly adjustment upward if the Consumer Price Index increases. In January, 1996 the OAS pension was $394.76 per month. Your spouse will also receive OAS pension benefits payable from age 65 subject to the same residency requirements specified above. Application must be made to receive benefits from the Canada Pension Plan and Old Age Security and the applications should be filed six (6) months in advance of your date of eligibility for such pensions to ensure prompt commencement of your benefits. As well as retirement pensions, the Canada Pension Plan provides certain disability, death and survivor benefits and further information can be obtained from your local Canada Pension Plan Office.
Sample 1
Government Pension Plans. Statutory benefits from government plans such as the Canada Pension Plan (CPP) and the pension under the Old Age Security Act (OAS) are in addition to the benefits payable under the Labatt Retirement Plan. Under current legislation your CPP pension is payable when you reach age 65, or as early as age 60 on a reduced basis. The amount of your CPP pension is dependent upon the amount of your earnings on which you have made CPP contributions and the period during which you contributed. To illustrate, an employee who retires at age 65 in 2023 and who is entitled to maximum benefits under the Canada Pension Plan receives a pension of $1,306.57 per month when he retires. After CPP pension commences it is subject to adjustment each following January 1st, depending upon increases in the Consumer Price Index. Your OAS pension is also payable from age 65 but if you take up residence outside Canada your OAS pension may be discontinued unless you have been a Canadian resident for a prescribed number of years. If you plan to move out of Canada, you should check into these requirements. The amount of OAS pension is subject to quarterly adjustment upward if the Consumer Price Index increases. In July 2023 the OAS pension was $698.60 per month if are less than age 75 and $768.46 per month if are age 75 or over. Your spouse will also receive OAS pension benefits payable from age 65 subject to the same residency requirements specified above. Application must be made to receive benefits from the Canada Pension Plan and Old Age Security and the applications should be filed six (6) months in advance of your date of eligibility for such pensions to ensure prompt commencement of your benefits. As well as retirement pensions, the Canada Pension Plan provides certain disability, death and survivor benefits and further information can be obtained from your local Canada Pension Plan Office.
Sample 1
Government Pension Plans. If You Leave The Company Minimum Pension At Normal Retirement Normal Retirement Date Other Early Retirement Other Information Pension Examples Previous Plans (before January 1958) Service And Credited Service Special Early Retirement Letters of Understanding All employees of the London Brewery share in the Goal of being the absolute leader in our industry. Our mission is to deliver the highest quality product in a safe, efficient and innovative manner, while at the same time being responsive to customer and employees’ needs. The achievement of the London Brewery Goal requires the combined efforts of the Company, Union and Employees. Therefore, and subject to all other clauses of this agreement, all employees’ (both bargaining unit and managerial) will: Meaningfully participate in the decisions which affect them; Work within their dept. or work area and assume all tasks for which qualified; Willing to do any task which they are capable of performing safely and responsibly; Work in good faith toward the satisfaction of internal and external customer needs; Develop and maintain a high level of technical skill; Promote efficiency, economy, quality and continuous improvement; Support initiative, new ideas, trust, mutual respect, equitable treatment and cooperation; Communicate information promptly, accurately and completely; Assist in training other employees; Take pride in their work and promote and adhere to the highest standards. Provide support for those employees who have difficulty adapting to change or learning new processes;
Sample 1

Related to Government Pension Plans

  • Canadian Pension Plans The Loan Parties shall not (a) contribute to or assume an obligation to contribute to any Canadian Defined Benefit Plan, without the prior written consent of the Administrative Agent, or (b) acquire an interest in any Person if such Person sponsors, administers, maintains or contributes to or has any liability in respect of any Canadian Defined Benefit Plan, or at any time in the five-year period preceding such acquisition has sponsored, administered, maintained, or contributed to a Canadian Defined Benefit Plan, without the prior written consent of the Administrative Agent.

  • No Pension Plans Neither the Company nor any current or past ERISA Affiliate has ever maintained, established, sponsored, participated in, or contributed to, any Pension Plans subject to Title IV of ERISA or Section 412 of the Code.

  • Municipal Pension Plan (a) An employer will provide the Municipal Pension Plan (MPP) to all eligible employees. (b) Employees of record on March 31, 2010, who meet the eligibility requirements of the MPP, have the option of joining or not joining the MPP. Eligible employees who initially elect not to join the MPP on April 1, 2010, have the right to join the MPP at any later date but will not be able to contribute or purchase service for the period waived. (c) All regular full-time employees hired after March 31, 2010, will be enrolled in the MPP upon completion of the earlier of their probationary period or three months and will continue in the plan as a condition of employment. Full-time hours of work are defined in the local issues agreement specific to each employer. Regular part-time employees and casual employees hired after April 1, 2010, who meet the eligibility requirements of the MPP have the right to enrol or not enrol in the MPP. Those who initially decline participation have the right to join the MPP at any later date. The MPP rules currently provide that a person who has completed two years of continuous employment with earnings from an employer of not less than 35% of the year's maximum pensionable earnings in each of two consecutive calendar years will be enrolled in the Plan. This rule will not apply when an eligible employee gives a written waiver to the Employer. (d) Employers will ensure that all new employees are informed of the options available to them under the MPP rules. (e) Eligibility and terms and conditions for the pension will be those contained in the Municipal Pension Plan and associated documents. (f) If there is a conflict between the terms of this agreement and the MPP rules, the MPP must prevail. Note: MPP contact information: Web: http:\\xxx.xxxxxxxxxx.xx Email: xxx@xxxxxxxxxx.xx Victoria Phone: 0-000-000-0000 BC Phone: 0-000-000-0000

  • Pension Plans Any of the following events shall occur with respect to any Pension Plan (a) the institution of any steps by the Borrower, any member of its Controlled Group or any other Person to terminate a Pension Plan if, as a result of such termination, the Borrower or any such member could be required to make a contribution to such Pension Plan, or could reasonably expect to incur a liability or obligation to such Pension Plan, in excess of $10,000,000; or (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 302(f) of ERISA.

  • Pension Plan Employers and/or individuals who manage, operate, assist or own, either partially or wholly, a company or companies working non-union in the construction industry on Mainland Nova Scotia within the craft jurisdiction of xxx Xxxxxxxxxx Local 83 shall not be eligible to be appointed to serve, or to continue to serve, as trustees on any trust fund referred to within this Collective Agreement. This provision shall apply to management trustees and union trustees alike. 29.01 It is agreed that the employer shall pay into the established Pension Fund an amount per hour for each hour paid as per the wage tables in Craft Schedule “A”, “B”, “S” and Appendix “MIP”. Pension contributions shall be calculated based on the base hourly rate and vacation pay, and no premium shall affect this. For the purposes of this Article, overtime rates payable in accordance with Article 16 are not premiums. Such contributions shall be paid to the Trustees of the Pension Fund on or before the fifteenth (15th) day of the month following the month such hours were worked and shall be accompanied by a remittance report form for each employee on a form prescribed by the Trustees of the Fund. Each monthly report and contributions shall include all obligations arising from hours worked up to the preceding calendar month. 29.02 It is agreed that provisions for an increase in the Pension Plan (other than those increases listed above) will be implemented if so desired by the Local, with the employer contribution to be deducted from the wages rates contained herein, provided the employer receives sixty (60) days notice of such change. 29.03 The Pension Plan shall be professionally administered. 29.04 Neither the United Brotherhood of Carpenters and Joiners of America, Local 83, nor the Nova Scotia Construction Labour Relations Association shall incur any legal liability with regard to claims arising from the Pension Plan. 29.05 Employers bound by, or subject to the Agreement, shall be required to maintain for a two (2) year period, a complete set of employment records including: • employee’s name, address, and S.I.N. • number of hours worked by the employee in each week • employee’s wage rate and gross earnings, amount(s) and description of deductions from the employee’s wages • particulars of pay allowances or other payments or benefits to which the employee is entitled.

  • Guaranteed Pension Plans Each contribution required to be made to a Guaranteed Pension Plan, whether required to be made to avoid the incurrence of an accumulated funding deficiency, the notice or lien provisions of §302(f) of ERISA, or otherwise, has been timely made. No waiver of an accumulated funding deficiency or extension of amortization periods has been received with respect to any Guaranteed Pension Plan, and neither the Borrower nor any ERISA Affiliate is obligated to or has posted security in connection with an amendment to a Guaranteed Pension Plan pursuant to §307 of ERISA or §401(a)(29) of the Code. No liability to the PBGC (other than required insurance premiums, all of which have been paid) has been incurred by the Borrower or any ERISA Affiliate with respect to any Guaranteed Pension Plan and there has not been any ERISA Reportable Event (other than an ERISA Reportable Event as to which the requirement of 30 days notice has been waived), or any other event or condition which presents a material risk of termination of any Guaranteed Pension Plan by the PBGC. Based on the latest valuation of each Guaranteed Pension Plan (which in each case occurred within twelve months of the date of this representation), and on the actuarial methods and assumptions employed for that valuation, the aggregate benefit liabilities of all such Guaranteed Pension Plans within the meaning of §4001 of ERISA did not exceed the aggregate value of the assets of all such Guaranteed Pension Plans, disregarding for this purpose the benefit liabilities and assets of any Guaranteed Pension Plan with assets in excess of benefit liabilities.

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time-to-time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time-to-time by the Company for the benefit of its senior executives, other than any annual cash incentive plan.

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • Multiple Individual Retirement Accounts In the event the depositor maintains more than one Individual Retirement Account (as defined in Section 408(a)) and elects to satisfy his or her minimum distribution requirements described in Article IV above by making a distribution from another individual retirement account in accordance with Item 6 thereof, the depositor shall be deemed to have elected to calculate the amount of his or her minimum distribution under this custodial account in the same manner as under the Individual Retirement Account from which the distribution is made.

  • Retirement Plans (a) In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (“Qualified Plans”) (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, Transfer Agent shall provide the following administrative services: (i) Establish a record of types and reasons for distributions (i.e., attainment of eligible withdrawal age, disability, death, return of excess contributions, etc.); (ii) Record method of distribution requested and/or made; (iii) Receive and process designation of beneficiary forms requests; (iv) Examine and process requests for direct transfers between custodians/trustees, transfer and pay over to the successor assets in the account and records pertaining thereto as requested; (v) Prepare any annual reports or returns required to be prepared and/or filed by a custodian of a Retirement Plan, including, but not limited to, an annual fair market value report, Forms 1099R and 5498; and file same with the IRS and provide same to Participant/Beneficiary, as applicable; and (vi) Perform applicable federal withholding and send Participants/Beneficiaries an annual TEFRA notice regarding required federal tax withholding. (b) Transfer Agent shall arrange for PFPC Trust Company to serve as custodian for the Retirement Plans sponsored by a Fund. (c) With respect to the Retirement Plans, Transfer Agent shall provide each Fund with the associated Retirement Plan documents for use by the Fund and Transfer Agent shall be responsible for the maintenance of such documents in compliance with all applicable provisions of the Code and the regulations promulgated thereunder.

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