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.
Appears in 4 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
