Pension Buyback Sample Clauses

Pension Buyback. Both the Employer and Employee's contributions will be paid out of the Fund. Employees who accept this early retirement incentive offer shall resign from the Institute on a date mutually agreed to between the Employee and the Institute.
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Pension Buyback. The Employer will match the employee=s contribution for three (3) years of additional eligible pensionable service (effective January 1, 1998): for work at Selkirk College for employees who retire between the age of 55 and 65 who have ten (10) years of service with the Employer and who are eligible under the Municipal Pension Plan. Deadline for eligible purchase of past service, for years prior to April 1, 2002, is March 31, 2007. For service after April 1, 2002, the deadline is five years from the end of the period of service the employee is applying to purchase. Application for purchase must be made while still an employee at the College. Employees who wish to apply for this benefit must submit their application to the Employer prior to December 1 of the year prior to the fiscal year in which the employee wishes to retire.
Sample 1

Related to Pension Buyback

  • Pension Plan 15.01 The CLAC Pension Plan (“the Plan”), a defined contribution pension plan, is registered with the Canada Revenue Agency. The Plan applies to all employees covered by this Agreement.

  • Benefit Plan If an employee maintains coverage for benefit plans while on maternity or parental leave, the Employer agrees to pay the Employer's share of these premiums.

  • Pension Benefits Each party reserves the right to retain as his or her sole and absolute separate property, the entire interest in pension benefits now vested, or that become vested in the future, and the right to manage, control, transfer, and convey all such property and dispose of the same by will, beneficiary designation or otherwise, without any interference from the other. The parties acknowledge that this Agreement shall constitute an effective waiver of any rights in the other's pension benefit plans. Furthermore, each party agrees to execute whatever additional waiver document may be necessary or useful to confirm such waiver of rights to the other party's pension benefit plans.

  • Union Business Leave 1. The five members of the Union Negotiating Committee shall be granted leave from duty with full pay for all meetings between the Board, or its representatives, and the Union for the purpose of negotiating the terms of a contract, when such meetings take place at a time when such members are scheduled to be at work.

  • Pension All present employees enrolled in the Hospital's pension plan shall maintain their enrolment in the plan subject to its terms and conditions. New employees and employees not yet eligible for membership in the plan shall, as a condition of employment, enroll in the plan when eligible in accordance with its terms and conditions.

  • Bargaining Agent Recognition The Employer recognizes the B.C. Government and Service Employees' Union as the exclusive bargaining agent for all employees covered by the certification.

  • Local Union Business Leave The Hospital agrees to grant leaves of absence without pay to local bargaining unit members for the purpose of attending Union seminars and/or attending to Union business. The cumulative total leave of absence will be determined locally, but shall not exceed sixty (60) days per year per hospital. The amount of notice required and the number of employees who may be absent at any one time and from any one area shall be determined locally and will be set out in the Local Provisions Appendix.

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