OMERS Pension. The Employer agrees to provide to permanent employees O.M.E.R.
OMERS Pension. Every employee shall join the Ontario Municipal Employees Retirement System at commencement of employment. The employer and the employee shall make contributions in accordance with the provisions of the Act. It is understood that any period of suspension without pay shall be deemed an approved leave of absence for OMERS pension purposes. Should the employee elect to purchase any portion of that period as credited service, the employee shall be responsible for both the employee and employer’s OMERS contributions for such period.
OMERS Pension. 7.2.1 With respect to the pension described in Article 7.1.1, the contribution of the Board and of each member shall be in accordance with the rates as prescribed from time to time in the Ontario Municipal Employees Retirement System Act and the regulations made thereunder. The Board agrees that, for the purposes of OMERS, a member's contributory earnings will include identified taxable benefits (including automobile and service pay) in accordance with the OMERS guidelines and regulations.
7.2.2 With respect to the pension described in Article 7.1.2, the Board shall contribute one hundred percent (100%) of the cost of providing past service benefits.
7.2.3 With respect to the pension described in Article 7.1.3, the Board shall contribute one hundred percent (100%) of the cost of providing future service and past service benefits.
OMERS Pension. Every employee shall join the Ontario Municipal Employees Retirement System (OMERS) on being hired. The Employer and the employee shall make contributions in accordance with the provisions of the Plan.
OMERS Pension. 15.1 All regular and probationary employees will participate in the Ontario Municipal Employees Retirement System (OMERS) basic pension plan in accordance with the OMERS regulations.
OMERS Pension. The Employer participates in a pension plan under the provisions of the Ontario Municipal Employees Retirement System Act. It is a condition of employment that each full-time employee becomes a member of the Ontario Municipal Employees Retirement System contributing payments as required by the Act by payroll deduction. The Employer will contribute an amount to the Fund as required from time to time by the trustees of said Fund.
OMERS Pension. In addition to the Canada Pension Plan every full-time permanent employee (unless exempted) shall join as a condition of hire, the Ontario Municipal Employees Retirement Plan (OMERS). The Employer and the employee shall make contributions in accordance with the provisions of the plan. All permanent, full-time employees are required to enroll in OMERS immediately upon hire or re-classification as a permanent full-time employee. There is no means of opting out of the plan other than through permanent employment termination. A part-time employee may elect to enroll in OMERS. It is the part-time employee’s choice as to whether or not to enroll, but once enrolled there is no means of opting out of the plan other than through employment termination. Should the part-time employee opt not to participate in the OMERS plan, they will be required to sign an eligibility waiver indicating that they have declined the opportunity, but this in no way precludes them from opting in at a later date.
OMERS Pension. A16 The City agrees to pay its portion of the required premiums toward a benefit at normal retirement age equal to 2% of each Employee’s best 60 consecutive months’ average salary multiplied by his/her years of credited service, reduced at age 65 by the prevailing OMERS rate (currently .675% as of November 21, 2001) of such average salary or the average of the last three year’s Maximum Pensionable Earnings under the Canada Pension Plan at retirement whichever is the lesser amount, multiplied by his/her years of credited service after January 1, 1966, less any amount payable under an approved pension plan of the Employer. Credited Service means continuous service with the Employer:
OMERS Pension. 19.01 In addition to the Canada Pension Plan all eligible nurses at the time of hiring shall join the Ontario Municipal Employees Retirement System. The Employer and nurse shall make contributions in accordance with the provisions of the Plan. As defined by XXXXX, “Other than Continuous Full-time Nurses” are eligible on a voluntary basis, to join the plan if during each of the two immediately preceding calendar years they have worked at least 700 hours, or earned at least 35% of the Year’s Maximum Pensionable Earnings (YMPE) as defined under the Canadian Pension Plan. It should be noted, however, that once an nurse joins OMERS the nurse cannot opt out at a later date or if there is an employment status change, for example a change in status from full-time to part-time.
OMERS Pension. 21.01 Regular and Probationary employees shall be enrolled in the OMERS Basic Plan.
