OMERS. Every full-time (Regular or Probationary) employee, as a condition of employment, shall join the Ontario Municipal Employees Retirement System. All others who meet the eligibility criteria as outlined in the Pension Benefits Act (PBA) will be given the option to join. Effective January 1, 1982, the Corporation agrees to provide a Supplementary Pension, Type I, payable in full at sixty-five (65) years of age, through the Ontario Municipal Employees Retirement System and inclusive of previous pension plans to equal to two percent (2%) of the employee's highest average sixty (60) consecutive months' earnings multiplied by his years of credited service at retirement (to a maximum of thirty-five (35) years of service) less the OMERS Integration Factor when a member is eligible for a pension under the Canada Pension Plan.
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OMERS. Every full-time (Regular or Probationary) employee, as a condition of employment, shall join the Ontario Municipal Employees Retirement System. All others who meet the eligibility criteria as outlined in the Pension Benefits Act (PBA) will be given the option to join. Effective January 1, 1982, the Corporation agrees to provide a Supplementary Pension, Type I, payable in full at sixty-five (65) years of age, through the Ontario Municipal Employees Retirement System and inclusive of previous pension plans to equal to two percent per cent (2%) of the employee's highest average sixty (60) consecutive months' earnings multiplied by his years of credited service at retirement (to a maximum of thirty-five (35) years of service) less the OMERS Integration Factor when a member is eligible for a pension under the Canada Pension Plan.
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