PENSION AND INSURANCE. 33.01 The Company and the employees will participate in the Ontario Municipal Employees Retirement System Basic Plan - (O.M.E.R.S.) and the Canada Pension Plan on an integrated basis.
33.02 The Company has enrolled all eligible employees in an O.M.E.R.
PENSION AND INSURANCE. 2.1 With effect from the first day of employment under this Contract the Executive is a member of both the “Pension Fund Syngenta” and the “Supplementary Executive Retirement Plan”. The Company shall make these plans available pursuant to relevant Swiss pension law. The retirement and insurance provisions are set out in the terms and regulations of the pension plans.
2.2 The member contributions will be deducted from the monthly salary payments to the Executive. The Company will pay the respective employer contributions.
PENSION AND INSURANCE. 21 LIFE INSURANCE
21.1 The benefits and terms and conditions of the benefit entitlement for group life, living benefit and spousal life insurance for employees are as described in: the Collective Agreement; the brochure entitled “Group Life Insurance, Living Benefit and Spousal Life Insurance, updated May 31, 2000”. These documents, by reference, form part of the Collective Agreement. The benefits and terms and conditions of benefit entitlement as described in the above documents can be changed by mutual consent only.
21.1.1 The cost of basic term insurance for employees will be paid by Inergi.
21.1.2 The cost of additional term insurance for employees will be paid by the employees.
21.1.3 Upon retirement, term insurance equal to 50% of final base annual earnings will be provided, reducing to 25% ten years after retirement.
21.1.4 An employee will become eligible for membership in the plan upon being assigned regular status.
21.1.5 In the event that an employee does not make an election, Option I (see 21.2 below) will automatically be designated.
21.1.6 After the initial election period, a re-election of option will be permitted only once a year during the month of December.
21.1.7 The employee will be required to submit evidence of insurability if a re-election results in total increased insurance coverage.
21.1.8 Any re-election shall become effective on the January 1st following the year in which the re-election is made or on the date of approval by the insurer of any required evidence of insurability, whichever is later.
21.2 Life Insurance Options Option Basic Term Insurance1 Additional Term Insurance2
21.3 The maximum additional term insurance that may be purchased by an employee shall be referred to a tripartite (Society, Management and CUPE 1000) forum for further consideration.
1 Basic Term Insurance is composed of term insurance equal to base annual earnings raised to the next $500.00 and multiplied by 2.
2 Additional Term Insurance is the optional term insurance which an employee may elect in addition to the basic insurance coverage. It is equal to base annual earnings raised up to the next $1,000.00.
21.4 An employee who meets the following criteria shall be eligible to cash out 50% of his/her total claim value to a maximum of $50,000. Criteria: • the illness must be terminal with death likely to occur within 24 months; • Inergi’s consent is required; • the consent of the employee; • the beneficiary must have reached the age of majority; and • ...
PENSION AND INSURANCE. 15.1 All eligible employees with the Corporation shall participate in the Corporation's Pension and Insurance Plans as follows: • Ontario Municipal Employees Retirement System Basic FAE (Final Average Earnings) on a equally shared basis with the Corporation. • The Corporation and the employees shall participate in the Canada Pension Plan as required by the Canada Pension Act. • The Corporation shall provide Life Insurance coverage for all regular employees in receipt of normal base wages, equivalent to current coverage of one and one-half (1½) times the employee's normal base wages.
15.2 The Corporation agrees to pay fifty percent (50%) of the premiums for Dental, Extended Health including Vision Care for all employees who retire early between the ages of 55 to 65.
PENSION AND INSURANCE. 14.1 Changes to the Pension Plan and Group Life Insurance Plan
14.1.1 The present pension plan and group life insurance plan form part of this Collective Agreement. The pension plan is described in the Kinectrics Inc. Pension Plan document. The group life insurance plan is described in the Kinectrics Group Life Insurance policy document. Changes to the plan affecting employees within the jurisdiction of the Union shall be subject to the following:
1. Changes other than legislative changes shall be made only upon mutual consent.
2. In the event of the enactment of any general pension legislation applicable to the employees of Kinectrics, amongst others, Kinectrics may, after notification to the Union, effect amendment of the Kinectrics provided that the combination of benefits resulting from the Kinectrics Plan as so amended and such legislation will not be less in the aggregate than the benefits now provided.
14.1.2 Pension and insurance items will be submitted at the time that regular amendments to the Collective Agreement are submitted and will be negotiated at the time of regular bargaining.
PENSION AND INSURANCE. Participation by regular employees in the Ontario Municipal Employees Retirement System (OMERS) is compulsory, with contributions at rates in accordance with OMERS regulations. Employees in the employ of the founding utilities as at December 31, 1982 are entitled to the OMERS Type III early retirement plan with the Canada Pension plan offset deferred exclusively of the disability feature. All regular and probationary employees hired after January 1, 1983 are eligible for the OMERS basic plan. Participation by each regular employee in the Municipal Hydro Electric Group Insurance (Term Life) Plan is compulsory. The Company reserves the right to institute an alternate plan carrier(s) provided the coverage is the same as presently insured.
PENSION AND INSURANCE. 5.1 The Employee is entitled to pension and insurance benefits in accordance with Neonode´s policy as applicable from time to time.
5.2 In addition to Clause 5.1 above, Neonode undertakes to supply occupational group life insurance (Sw. Tjänstegrupplivförsäkring), industrial (occupational) injury insurance (Sw. Trygghetsförsäkring vid arbetsskada) and work travel insurance.
PENSION AND INSURANCE. 19.01 It is understood and agreed that The General Motors Canadian Hourly-Rate Employee Pension Plan (Exhibit A, A-1 hereto), the General Motors Group Life and Disability Insurance Program for Hourly-Rate Employees (Exhibit B, B-1 hereto), the General Motors Income Security Plan (Exhibit C, C-1 hereto), the Income Maintenance Benefit Plan and Voluntary Termination of Employment Plan (Exhibit D, X-0, X-0 hereto), and the General Motors Health Care Insurance Program (Exhibit G, G-1 hereto) will be applicable to all employees covered by this Agreement. However, it is further understood and agreed that no matter respecting the provisions of the Pension Plan, the Group Life and Disability Insurance Program, the Canadian Income Security Plan, the Income Maintenance Benefit Plan and Voluntary Termination of Employment Plan, or the Health Care Insurance Program shall be subject to the Grievance Procedure in this Agreement.
PENSION AND INSURANCE. Pension As soon as is practicable following ratification, the parties agree to form a joint team to discuss the advantages of introducing a defined contribution pension plan as an option for employees who wish to be members of such a plan. Effective April 1, 2002, the rules of the pension plan will be amended to allow employees to retire/start any day of the month. Effective April 1, 2002, the pension plan will be amended to provide for the reduction of the CPP integration adjustment factor from .625% to .500%. At the same time the plan will be amended to provide for employees’ contribution to increase by .5% when the assets fall below 106% of the liabilities based upon a solvency valuation. Insurance The Employer will implement option to purchase more units of life insurance (4x or 5x base pay) at no cost to the Employer by April1 2002 for eligible employees. Medical information will be required to determine eligibility.
PENSION AND INSURANCE. 6.1 The Employee is entitled to pension benefits, calculated on the Employee's Base Salary, in accordance with Company policy from time to time. For more information see “Olinks Försäkringspolicy”
6.2 The Employee is entitled to insurance coverage in accordance with Company policy from time to time.
