Common use of Industry Pension Plan Clause in Contracts

Industry Pension Plan. A-6.01 Effective on the date of ratification, the Company agrees to contribute fifteen ($0.15) cents into the Canadian Commercial Workers Industry Pension Plan (“CCWIPP”) for all employees in the bargaining unit, for all hours worked or paid, including sick pay, disability benefits, vacations, and general holidays, to a maximum of the basic work week of 40 hours per week. A-6.02 Effective as soon as administratively feasible after ratification, the Company will contribute payment to a Registered Retirement Savings Plan chosen by the Union in the amount of ninety-five ($0.95) for all employees in the bargaining unit, for all hours worked or paid, including sick pay, disability benefits, vacations, and general holidays, to a maximum of the basic work week of 40 hours per week. Effective the second anniversary date of ratification of this Agreement, and every year thereafter, the Company will contribute payment to a Registered Retirement Savings Plan chosen by the Union in the amount of one ($1.00) dollar for all employees in the bargaining unit, for all hours worked or paid, including sick pay, disability benefits, vacations, and general holidays, to a maximum of the basic work week of 40 hours per week. Any contributions to the new employee RRSP plan will be held in trust by the employer from the date of ratification until such time that contributions can be submitted to the RRSP by the employer on an employee’s behalf. The employees will have the option to contribute on a voluntary basis. It will be the responsibility of the employee to submit their contributions to the RRSP through any means approved by the plan provider. The Union acknowledges that the Company shall have no responsibility for the selection of the RRSP, its administration, or the type of RRSP, Fund, or Investments which may be selected by the union. The Investment management fee will come off the RRSP rate of return. The rate of return will be determined by the employee’s selection of investment. Employees who are legally ineligible for an RRSP, due to being seventy-one (71) years of age and older, shall have the same amount of contributions as noted above deposited with RRSP pension administrator to be invested in a non-registered investment locked in and received by the Employee upon their retirement from the Company.

Appears in 2 contracts

Samples: Collective Bargaining Agreement, Collective Agreement

AutoNDA by SimpleDocs

Industry Pension Plan. A-6.01 Effective on the date of ratification, the Company agrees to contribute fifteen ($0.15) cents into the Canadian Commercial Workers Industry Pension Plan (“CCWIPP”) for all employees in the bargaining unit, for all hours worked or paid, including sick pay, disability benefits, vacations, and general holidays, to a maximum of the basic work week of 40 hours per week. A-6.02 Effective as soon as administratively feasible after ratification, the Company will contribute payment to a Registered Retirement Savings Plan chosen by the Union in the amount of ninety-five ($0.95) for all employees in the bargaining unit, for all hours worked or paid, including sick pay, disability benefits, vacations, and general holidays, to a maximum of the basic work week of 40 hours per week. Effective the second anniversary date of ratification of this Agreement, and every year thereafter, the Company will contribute payment to a Registered Retirement Savings Plan chosen by the Union in the amount of one ($1.00) dollar for all employees in the bargaining unit, for all hours worked or paid, including sick pay, disability benefits, vacations, and general holidays, to a maximum of the basic work week of 40 hours per week. Any contributions to the new employee RRSP plan will be held in trust by the employer from the date of ratification until such time that contributions can be submitted to the RRSP by the employer on an employee’s behalf. The employees will have the option to contribute on a voluntary basis. It will be the responsibility of the employee to submit their contributions to the RRSP through any means approved by the plan provider. The Union acknowledges that the Company shall have no responsibility for the selection of the RRSP, its administration, or the type of RRSP, Fund, or Investments which may be selected by the union. The Investment management fee will come off the RRSP rate of return. The rate of return will be determined by the employee’s selection of investment. Employees who are legally ineligible for an RRSP, due to being seventy-one (71) years of age and older, shall have the same amount of contributions as noted above deposited with RRSP pension administrator to be invested in a non-non- registered investment locked in and received by the Employee upon their retirement from the Company. B-1 Classifications and Hourly Rates of Pay Job Classification Current Date of Ratification Effective April 8, 2024 Effective October 1, 2024 Effective April 8, 2025 Effective April 8, 2026 $0.90 2.0% 2.0% 2.5% Maintenance Supervisor Shipper Receiver Truck Driver Seed Assistant Plant Help "A" Plant Help "B"

Appears in 1 contract

Samples: Collective Agreement

AutoNDA by SimpleDocs

Industry Pension Plan. A-6.01 Effective on the date of ratification, the Company agrees to contribute fifteen ($0.15) cents into the Canadian Commercial Workers Industry Pension Plan (“CCWIPP”) for all employees in the bargaining unit, for all hours worked or paid, including sick pay, disability benefits, vacations, and general holidays, to a maximum of the basic work week of 40 hours per week. A-6.02 Effective as soon as administratively feasible after ratification, the Company will contribute payment to a Registered Retirement Savings Plan chosen by the Union in the amount of ninety-five ($0.95) for all employees in the bargaining unit, for all hours worked or paid, including sick pay, disability benefits, vacations, and general holidays, to a maximum of the basic work week of 40 hours per week. Effective the second anniversary date of ratification of this Agreement, and every year thereafter, the Company will contribute payment to a Registered Retirement Savings Plan chosen by the Union in the amount of one ($1.00) dollar for all employees in the bargaining unit, for all hours worked or paid, including sick pay, disability benefits, vacations, and general holidays, to a maximum of the basic work week of 40 hours per week. Any contributions to the new employee RRSP plan will be held in trust by the employer from the date of ratification until such time that contributions can be submitted to the RRSP by the employer on an employee’s behalf. The employees will have the option to contribute on a voluntary basis. It will be the responsibility of the employee to submit their contributions to the RRSP through any means approved by the plan provider. The Union acknowledges that the Company shall have no responsibility for the selection of the RRSP, its administration, or the type of RRSP, Fund, or Investments which may be selected by the union. The Investment management fee will come off the RRSP rate of return. The rate of return will be determined by the employee’s selection of investment. Employees who are legally ineligible for an RRSP, due to being seventy-one (71) years of age and older, shall have the same amount of contributions as noted above deposited with RRSP pension administrator to be invested in a non-non- registered investment locked in and received by the Employee upon their retirement from the Company. B-1 Classifications and Hourly Rates of Pay Job Classification Current Date of Ratification Effective April 8, 2024 Effective April 8, 2025 Effective April 8, 2026 $0.90 2.0% 2.0% 2.5% Maintenance Supervisor Shipper Receiver Truck Driver Seed Assistant Plant Help "A" Plant Help "B" B-2 Increment Increases

Appears in 1 contract

Samples: Collective Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!