Common use of Pension Plan Membership Clause in Contracts

Pension Plan Membership. New employees working reduced hours must apply for membership in the Pension Plan after completing 24 months of continuous service, subject to the following conditions: • accumulated earnings, including overtime, must equal 35% of the Year's Maximum Pensionable Earnings (YMPE); • all accumulated hours, including overtime, must equal 700 (scheduled reduced) hours in each of the two previous calendar years.

Pension Plan Membership. New employees working reduced hours must apply for membership in the Pension Plan after completing 24 months of continuous service, subject to the following conditions: • accumulated earnings, including overtime, must equal 35% of the Year's Maximum Pensionable Earnings (YMPE); and/or • all accumulated hours, including overtime, must equal 700 (scheduled reduced) hours in each of the two previous calendar years.