Common use of PENSION AND INSURANCE Clause in Contracts

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.

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.