Common use of Pension (Municipal) Act Clause in Contracts

Pension (Municipal) Act. (a) All new employees shall, upon completion of six (6) months' service, become eligible for superannuation in accordance with the Pension (Municipal) Act, except that Temporary Full-Time Employees shall not be eligible until they have completed twelve (12) months of continuous service. (b) Further, the Board agrees to contribute an additional two percent (2%) of each employee's regular wages over and above the contribution required by the Pension (Municipal) Act PROVIDED that each employee contributes an additional two percent (2%) as a special contribution. (c) Where, due to a layoff, a full-time employee has had their hours of work reduced and their employment status changed, the employee shall continue to contribute to the Municipal Pension Plan. Contributions made by the Board and the employee shall be made on the basis of the new hours worked, and are subject to the requirements of the Pension (Municipal) Act.

Pension (Municipal) Act. (a) All new employees shall, upon completion of six (6) months' service, become eligible for superannuation in accordance with the Pension (Municipal) Act, except that Temporary Full-Time Employees shall not be eligible until they have completed twelve (12) months of continuous service. (b) Further, the Board Corporation agrees to contribute an additional two percent (2%) of each employee's regular wages over and above the contribution required by the Pension (Municipal) Act PROVIDED that each employee contributes an additional two percent (2%) as a special contribution. (c) Where, due to a layoff, a full-time employee has had their hours of work reduced and their employment status changed, the employee shall continue to contribute to the Municipal Pension Plan. Contributions made by the Board Corporation and the employee shall be made on the basis of the new hours worked, and are subject to the requirements of the Pension (Municipal) Act.

Pension (Municipal) Act. (a) All new employees shall, upon completion of six (6) months' service, become eligible for superannuation in accordance with the Pension (Municipal) Act, except that Temporary Full-Time Employees shall not be eligible until they have completed twelve (12) months of continuous service. (b) Further, the Board agrees to contribute an additional two percent (2%) of each employee's regular wages over and above the contribution required by the Pension (Municipal) Act PROVIDED that each employee contributes an additional two percent (2%) as a special contribution. (c) Where, due to a layoff, a full-time employee has had their hours of work reduced and their employment status changed, the employee shall continue to contribute to the Municipal Pension Superannuation Plan. Contributions made by the Board and the employee shall be made on the basis of the new hours worked, and are subject to the requirements of the Pension (Municipal) Act.