Common use of HEALTH & PENSION BENEFITS Clause in Contracts

HEALTH & PENSION BENEFITS. 12.01 Each Employer agrees to give full cooperation to CLAC’s Benefit Administration Office for the health & pension benefits of all employees covered under this Agreement. The CLAC Health Fund and the CLAC Pension Plan are maintained and administered by the Union and supervised by Boards of Trustees. a. The Health Fund provides for a certain amount of income in case of inability to work due to sickness or accident not covered by compensation through the Workplace Safety & Insurance Board (WSIB), a life and dismemberment insurance, a major medical health insurance, a dental plan and additional benefits to be determined by the Union from time to time. b. The CLAC Pension Plan, a money purchase plan registered with the Canada Revenue Agency, and the Financial Services Commission of Ontario, under registration #0398594, applies to all employees covered by this Collective Agreement. Employer contributions to the CLAC Pension Plan will vest in accordance with the rules of the Plan. The employees shall be informed about the Plan including statements to each employee, showing their account balance, including details of all contributions received, and all earnings/losses allocated. a. Each Employer agrees to pay an amount of money, as outlined under Schedule "A", to the Union’s Benefit Administration Office for each hour worked by each employee covered under this Agreement as an irrevocable contribution to the Health & Pension Plans. Allocation to the Union's Health Plan and the Union's Pension Plan will be as set out on Schedule "A", attached hereto and made part hereof.

HEALTH & PENSION BENEFITS. 12.01 Each Employer agrees to give full cooperation to CLAC’s CLAC‟s Benefit Administration Office for the health & pension benefits of all employees covered under this Agreement. The CLAC Health Fund and the CLAC Pension Plan are maintained and administered by the Union and supervised by Boards of Trustees. a. The Health Fund provides for a certain amount of income in case of inability to work due to sickness or accident not covered by compensation through the Workplace Safety & Insurance Board (WSIB), a life and dismemberment insurance, a major medical health insurance, a dental plan and additional benefits to be determined by the Union from time to time. b. The CLAC Pension Plan, a money purchase plan registered with the Canada Revenue Agency, and the Financial Services Commission of Ontario, under registration #0398594, applies to all employees covered by this Collective Agreement. Employer contributions to the CLAC Pension Plan will vest in accordance with the rules of the Plan. The employees shall be informed about the Plan including statements to each employee, showing their account balance, including details of all contributions received, and all earnings/losses allocated. a. Each Employer agrees to pay an amount of money, as outlined under Schedule "A", to the Union’s Union‟s Benefit Administration Office for each hour worked by each employee covered under this Agreement as an irrevocable contribution to the Health & Pension Plans. Allocation to the Union's Health Plan and the Union's Pension Plan will be as set out on Schedule "A", attached hereto and made part hereof.