Group RSP Clause Samples

Group RSP. Effective March 1, 2009, the Employer agrees to make, on behalf of each employee, contributions towards the Royal Bank of Canada Group RSP #4223 equivalent to five percent (5%) of gross salary in each pay period. Employees shall have a deduction in each pay period equal to the amount the Employer contributed on their behalf. Employees may choose to contribute more to their RSP at any time.

Group RSP. If the Plan is part of a group retirement savings plan (“Group RSP”), you are required to be an employee or member, or the spouse or common-law partner of the employee or member, of the sponsoring organization of the Group RSP named in the application (the “Group Sponsor”). You accept the Group Sponsor as your agent for the purposes of constituting the plan. You hereby appoint the Plan Sponsor to act as your agent for certain limited purposes with respect to the administration of the Plan, including, without limiting the generality of the foregoing, receiving information on the Plan from time to time, delivering your directions to the Agent, and submitting Contributions to the Agent. You acknowledge that the Plan Sponsor’s arrangement with the Agent and yourself imposes certain additional terms and conditions on the Plan referred to in this Declaration. Notwithstanding paragraph 2, in addition to Contributions made by you, or your spouse or common-law partner, the Agent may accept any Contribution made on your behalf by the Plan Sponsor. You also acknowledge that where the Plan Sponsor makes regular Contributions to the Plan on your behalf, those Contributions may be suspended if you make a withdrawal from the Plan. For this reason, notwithstanding paragraph 9, you are required to provide the Plan Sponsor with a withdrawal request prior to any withdrawal from the Plan being effected.] Upon your ceasing to be an employee or member of the Group Sponsor and upon notification from the Group Sponsor being received by us, the following will apply: a) We will not accept any further contributions to this Plan; and b) You shall provide us with written notice to transfer the Plan to a self-directed RRSP, self-directed RRIF with us or another financial institution which is not part of the Group RSP. If we do not receive your written instructions within fifteen (15) days from the date we receive notice from the Group Sponsor, you will be deemed to have instructed us to transfer Plan Assets and to act as your attorney to execute documents and make elections necessary to establish another retirement savings plan (“RSP”) or retirement income fund (“RIF”), selected by us in our sole discretion and to apply for registration of such RSP or RIF under applicable legislation.

Group RSP. If the Plan is a Group retirement savings plan, you or your spouse are required to be an employee of the Employer named in the Application. You acknowledge that the Employer is acting as your agent. If you cease to be an employee of the Employer, the following will apply following receipt of such notice from the Employer to us: a. We will accept no further contributions to this Plan; b. You shall direct us to amend the Plan to transfer the value of the Plan to another retirement savings plan (which is not a group plan and which may be with us). Should you fail to provide such written notice within 15 days, we are hereby directed to amend the Plan to transfer the investments to another retirement savings plan which is not a group plan, or alternatively and in our sole discretion, to a registered retirement income fund with us and to apply for registration of the said plan.

Group RSP. The Employer agrees to become a contributing employer to a Group Registered Savings Plan (Group RSP).

Group RSP. 24.01 All employees, except relief employees, who have completed six months service shall have the following amounts deducted from their bi-weekly pay and contributed towards the employee’s Group RSP: • $ 40 per pay for Full time Employees • $ 30 per pay for .75 Part time Employees • $ 20 per pay for .5 Part time Employees 24.02 Eligible employees can opt to individually contribute additional funds to the Group RSP from their salary by providing the Employer with written authorization on the appropriate form(s).

Group RSP. 18.01 a) Providing the Employee contributes a minimum of fifty cents ($0.50) per hour, the Employer shall match this contribution to a maximum of fifty cents ($0.50) per hour for all regular hours worked by each employee to the group RSP administered by the CLAC Health and Welfare Trust Fund,

Group RSP. 17.01 The Company agrees to continue the present plan with the Company and employee each contributing ninety-five cents (95¢) per hour for each hour worked to a maximum of twenty-two hundred (2200) hours annually. Effective June 10, 2019 amend matching contributions from ninety-five cents (95¢) cents to one dollar ($1.00) per hour.

Group RSP. 17.01 The Christian Labour Association of Canada (CLAC) Group Retirement Savings Plan (“RSP”), administered by the CLAC Group RSP Board of Trustees, applies to all employees covered by this Collective Agreement. 17.02 New employees will join the RSP upon completing the specified probationary period as defined in Article 6.03. 17.03 Employees are responsible for completing the applicable form, provided by the CLAC Retirement Team, in order to register the contributions remitted by the Employer. 17.04 The Employer agrees to contribute the Group RSP amount set out in Schedule “B”, for each employee, based on the employee’s base wages for all hours worked. This contribution will be remitted to the applicable CLAC Remittance Team.