PENSION AGREEMENT. The Company has adopted the Embarq Pension Component of the CenturyLink Combined Pension Plan (referred to herein as the “Retirement Pension Plan”) and except as provided in Section 3 below, R agrees to include Eligible Employees covered by this Agreement as Members of such Retirement Pension Plan in accordance with the Pension Agreement below. Said Pension Agreement shall be continued without modification for the life of this Agreement; provided, however, the Company (and for this purpose only “Company” shall include Embarq Corporation) retains the right to make such changes in the Retirement Pension Plan, in its sole discretion, as may be required to obtain a ruling from the Commissioner of Internal Revenue that the Retirement Pension Plan qualifies under Section 401(a) of the Internal Revenue Code of 1986, as amended from time to time, and that the Trust implementing the Retirement Pension Plan is exempt from taxation under Section 501(a) of said Code, to satisfy any applicable state or federal statute, regulation, ruling, court decision or other law applicable to said Retirement Pension Plan, or to administer Retirement Pension Plan in an orderly and efficient manner. Except as provided in Section 3 below, any such action taken by the Company in its sole discretion with respect to the Retirement Pension Plan shall apply to all similarly situated employees of the Company in a uniform manner. The Company pays all contributions to the Retirement Pension Plan. Nothing within this Agreement shall constitute an amendment to the Retirement Pension Plan, which is subject to its terms and conditions. In the event of an inconsistency between this Agreement and the Retirement Pension Plan document, the terms of the Retirement Pension Plan document shall govern. Administration of the Embarq Pension Component of the CenturyLink Combined Pension Plan and benefit disputes are not subject to the grievance or arbitration procedure set forth in this Agreement.
PENSION AGREEMENT. Consistent with the provisions of the preceding Agreement in this reward, and in order to enable compliance with the law, the Company is authorized to make required changes in the Pension Plan now in effect to comply with current law.
PENSION AGREEMENT. The Company has adopted the Embarq Pension Component of the CenturyLink Combined Pension Plan referred to herein as (the “Retirement Pension Plan”) and except as provided in Section 3 below, agrees to include Eligible Employees covered by this Agreement as Members of such Retirement Pension Plan in accordance with the Pension Agreement below. Said Pension Agreement shall be continued without modification for the life of this Agreement; provided, however, the Company (and for this purpose only, “Company” shall include Embarq Corporation) retains the right to make such changes in the Retirement Pension Plan, in its sole discretion, as may be required to obtain a ruling from the Commissioner of Internal Revenue that the Retirement Pension Plan qualifies under Section 401(a) of the Internal Revenue Code of 1986, as amended from time to time, and that the Trust implementing the Retirement Pension Plan is exempt from taxation under Section 501(a) of said Code, to satisfy any applicable state or federal statute, regulation, ruling, court decision or other law applicable to said Retirement Pension Plan, or to administer said Retirement Pension Plan in an orderly and efficient manner. Except as provided in Section 3 below, any such action taken by the Company in its sole discretion with respect to the Retirement Pension Plan shall apply to all similarly situated employees of the Company in a uniform manner. The Company pays all contributions to the Retirement Pension Plan. Nothing within this Agreement shall constitute an amendment to the Retirement Pension Plan, which is subject to its terms and conditions. In the event of an inconsistency between this Agreement and the Retirement Pension Plan document, the terms of the Retirement Pension Plan document shall govern. Administration of the Embarq Pension Component of the CenturyLink Combined Pension Plan and benefit disputes are not subject to the grievance or arbitration procedure set forth in this Agreement.
PENSION AGREEMENT. 23.01 The Pension Agreement between the parties is supplemental to this Agreement. Effective January 1 2018 the normal retirement age shall be sixty-two (62) and the basic pension shall be forty-eight dollars and fifteen cents ($48.15) per month per year of service not exceeding forty (40) years. Early retirement will be a supplement of fifteen (15) dollars x years of credited service, not exceeding thirty (30) years, less Old Age Security payable and less CPP payable (subject to the provisions of early retirement).
23.02 All employees hired after January 1, 2012 will be enrolled in a defined contribution pension plan as set out in the Defined Contribution Retirement Pension Plan for Employees of Your Neighbourhood Credit Union Limited. The employer shall contribute an amount equal to four percent (4%) annually of each eligible employee's base wages to the pension plan. Employees may contribute in one percent (1%) increments up to an amount equal to seven percent (7%) of their base wages to the plan. The employer will match employee contributions greater than four percent (4%) to a maximum of seven percent (7%).
PENSION AGREEMENT. The Pension Agreement between VARTA Gerätebatterie GMBH and the Executive dated May 17, 1989 including the supplement of July 1, 1999, which was assumed by the Company, shall continue and remain in full force and effect.
PENSION AGREEMENT. 23.01 The Pension Agreement between the parties is supplemental to this Agreement. Effective December 31, 2011 the normal retirement age shall be sixty-two (62) and the basic pension shall be forty-six dollars and sixty five cents ($46.65) per month per year of service not exceeding forty (40) years. Early retirement will be a supplement of fifteen (15) dollars x years of credited service, not exceeding thirty (30) years, less Old Age Security payable and less CPP payable (subject to the provisions of early retirement). Effective December 31, 2012 the normal retirement age shall be sixty-two (62) and the basic pension shall be forty-six dollars and ninety cents ($46.90) per month per year of service not exceeding forty (40) years. Early retirement will be a supplement of fifteen (15) dollars x years of credited service, not exceeding thirty (30) years, less Old Age Security payable and less CPP payable (subject to the provisions of early retirement). Effective December 31, 2013 the normal retirement age shall be sixty-two (62) and the basic pension shall be forty-seven dollars and fifteen cents ($47.15) per month per year of service not exceeding forty (40) years. Early retirement will be a supplement of fifteen (15) dollars x years of credited service, not exceeding thirty (30) years, less Old Age Security payable and less CPP payable (subject to the provisions of early retirement).
23.02 All employees hired after January 1, 2012 will be enrolled in a defined contribution pension plan as set out in the Defined Contribution Retirement Pension Plan for Employees of Community First Union. The employer shall contribute an amount equal to four percent (4%) annually of each eligible employee’s base wages to the pension plan. Employees may contribute in one percent increments up to an amount equal to six percent (6%) of their base wages to the plan. The employer will match employee contributions greater than four percent (4%) to a maximum of six percent (6%).
PENSION AGREEMENT. 6.5.1 Pension scheme at the bank
PENSION AGREEMENT. 9.1 No pension scheme applies to the Employee.
PENSION AGREEMENT. During the contract negotiations, the Company and the Union agreed to have the rules of the Air Canada Pension Plan Canada, as it relates to an employee", in the Winnipeg Finance Branch amended to provide the following effective for retirements, terminations of service or deaths in service occurring after November
PENSION AGREEMENT. Effective November basic pension of per month per year of credited service to September per month per year of credited service October to September per month per year of credited service October to September and per month per year of credited service on and after October Supplementary Pension per month multiplied by years of service. year Certain. Minimum guarantee of years. Where an employee is to receive Pension information, such employee shall be accompanied by a Union representative, unless the employee requests otherwise. Future of the Pension Plan in the event of Wind-up of the Company In accordance with the present rules of the plan, the pension assets will be used to provide benefits for pensioners and members as determined by the Company in the consultation with its independent actuary, in accordance with the following sequence of priority: The provision of benefits for those already receiving their pension, i.e.: present pensioners. The provision of pensions for those who are entitled to normal or postponed retirement benefits, those members at age or over who are eligible for retirement but who have not retired as of the date of the termination of the plan or the wind-down of the Company. The provision of early retirement benefits for those members who are to early retire under the plan. The provision of the amount of vested pension benefits for each member, the amount of pension benefits in respect of who have attained age and completed ten years of continuous The provision of any coverage in cash in proportion to the length of credited service or seniority held by all employees. Alternatively, by mutual agreement between the Union and the Company, the Company will use the assets to finance any new retirement plan or under which the employees participating in this plan shall be entitled to pensions. If the Company becomes wound-up or bankrupt, the assets of the trust will be applied for the benefit of pensioners and members in an equitable manner determined by the liquidator or trustee in bankruptcy of the Company in consultation with an actuary. As a registered and qualified plan, the Bargaining Unit Pension Plan to all the required statutory provisions relative to wind-down and dispersal of ALL NOTED HEALTH LIFE AND WELFARE PLANS INCLUDING PENSION PLAN WILL BE PAID BY THE COMPANY AFTER THE PROBATIONARY EMPLOYEE HAS WORKED TWELVE (12) WEEKS IN THE PREVIOUS TWELVE (12) MONTHS.
