Group Registered Retirement Savings Plan. 9.9.1 The College agrees to implement a group Registered Retirement Savings Plan for participation by employees. For regular employees who wish to participate in the Plan, the College agrees to contribute the total amount of the annual contribution by the fifteenth of the first month of the Benefit Year. The employee shall repay that contribution through payroll deduction in equal instalments throughout the Benefit Year.
9.9.2 Non-regular employees may participate in the Group Registered Retirement Savings Plan by advising the Payroll Department of their wish to do so by the fifteenth of the first month of each appointment term. The College agrees to contribute the total amount of the eligible contribution by the fifteenth of the first month following that advice. The employee shall repay that contribution through payroll deduction in equal instalments throughout the appointment term.
9.9.3 Any employee wishing to participate in the Group Registered Retirement Savings Plan may do so by making a single contribution to the Plan not later than February 15.
Group Registered Retirement Savings Plan. ELIGIBILITY WAITING PERIOD BEFORE ENROLMENT CONTRIBUTIONS FOR SPECIFIC SITUATIONS EMPLOYER CONTRIBUTION FORMULA COVERED PAY PAYMENT OF FEES INVESTMENT
Group Registered Retirement Savings Plan. The Vendor hereby assigns to the Purchaser, and the Purchaser hereby assumes from the Vendor, as of and with effect from the Effective Time, all of the rights, obligations and liabilities of the Vendor with respect to the group registered retirement savings plan accounts that are provided by the Vendor (a) to the Non-Union Employees and Unionized Employees, and (b) to any other individuals who are members of the Stand-Alone Registered Pension Plans.
Group Registered Retirement Savings Plan. (A) The Employer and the Union agree to employee contributions to the Local 2085 Group Registered Retirement Savings Plan for all hours worked, by all Journeyperson Electricians covered under this Collective Agreement, at the following rates:
(B) Payment and reporting forms are to be received by the Administrator not later than the tenth (10th) day of the month following the month for which deductions were made
(C) The Group Registered Retirement Savings Fund shall be controlled by a Board of Trustees consisting of seven (7) persons. The composition of the Board shall be four (4)
Group Registered Retirement Savings Plan. All regular employees, upon successful completion of the probationary period, will have the option of enrolling in the plan. Participation in the plan is voluntary. The plan details are as follows:
(a) Employee contributions to the plan, through payroll deduction will be one of the following:
Group Registered Retirement Savings Plan. Effective April 1, 1998, the Employer shall implement a Group RRSP with the following terms:
Group Registered Retirement Savings Plan. Group RRSP (Effective January 1, 2016)
1. All regular employees, upon successful completion of the probationary period, shall have the option of enrolling in the Plan. Participation in the plan is voluntary. The employee must exercise the option within ninety (90) days of the plan coming into effect or upon completion of the probationary period.
2. Employee contributions to the Plan through payroll deduction will be on one (1) of the following basis:
i. 1 of regular earnings; or
ii. 2 of regular earnings; or
iii. 3 of regular earnings.
3. Employees may opt in or out of the plan, or increase or decrease their contribution levels, as noted in (2) above, on January 1st of each year by providing at least thirty (30) days written notice to the Employer.
4. The Employer will administer the Plan. There shall be no Employer contributions.
5. The Employer will ensure that all new employees are informed of the options available to them under this group RRSP.
Group Registered Retirement Savings Plan. In the interests of encouraging and providing employees with structured savings in anticipation of retirement, the parties agree to the implementation of a Group Registered Retirement Savings Plan (RRSP) on the following basis:
Group Registered Retirement Savings Plan. The Association shall contribute to a group R.R.S.P. an equivalent amount on behalf of each permanent full time employee. The contribution shall begin after the successful completion of the three (3) months of permanent full time employment. The amount of employer contribution shall be determined on the basis of not less than 5/12 of E.I. premium reduction. Employees shall be informed yearly of the amount of the contribution. Mandatory contributions by the employee are equal to the employer's share. Employees may make additional voluntary contributions. The Association shall cease to contribute to the R.R.S.P. benefits when the employee is on unpaid leave of absence for more then twelve(12) working days in a month. An employee may withdraw his/her personal contribution to the group R.R.S.P. submit to the limitations and penalties of the plan. The employer contribution can only be withdrawn when the employee terminates his/her employment with the Association or the contributions have been in the plan for two (2) years.
Group Registered Retirement Savings Plan. The Company will pay registration and administration fees for a Group Registered Retirement Savings Plan. Contributions may be made through payroll deductions or annual lump sum payments up to the maximum set out in the Income Tax Act. It is understood that the plan provided for in this paragraph is not a part of this collective agreement and is not subject to the grievance and arbitration procedures.
