Pension/RRSP. 19.01 As of February 1, 2016 the Company will contribute 3.1% of earnings per month for each full-time member of the Bargaining Unit. The RRSP contribution Formula will be calculated as follows: the base hourly rate (excluding any applicable premiums) X 3.1% x 173 hours per month. As of January 1, 2019 the Company RRSP contribution increases to 3.5% of earnings per month for each full-time member of the Bargaining Unit. As of January 1, 2020 the Company RRSP contribution increases to 4% of earnings per month for each full-time member of the Bargaining Unit.
Pension/RRSP. 20.01 The Employer will match the employee contribution to the RRSP which shall be between a minimum of $0.50 and a maximum of $1.00 as determined by the employee for each and every hour worked. Contributions will be submitted to a plan in the individual employee’s name.
Pension/RRSP. For full time employees only, the Company will match yearly RRSP contributions up to $500.00 in each year. To receive the matching RRSP payment of $500.00 each eligible employee must attend their bank or institution to receive an RRSP account number that will be given to the Company payroll department to either have the money put into their account via direct deposit or have a cheque made up to the bank or institution to be deposited into the RRSP account.
Pension/RRSP. 17.01 The Employer’s pension plan is in the form of an RRSP. At the end of each calendar year Employees are given 5% of that year’s base earnings to be invested in an RRSP. These funds must remain in the RRSP of the Employee’s choice while the Employee is employed by the Employer. Employees should be ready to provide, upon request, an annual statement verifying these funds have been deposited in an RRSP.
Pension/RRSP. Participation in the RSP program is completely voluntary. Individuals who wish to participate must inform Payroll and submit a completed appropriate application form. Group Retirement Plan Details – RRSP Eligibility Full-Time Customer Service Agents may join immediately Contributions 1 to 4 years 3% 5 to 9 years 4% 10+ years 5% Any voluntary amount up to CRA limits Default Fund Continuum Target Date Fund Vesting Period Immediate Withdrawals Regular RRSP contributions cannot be withdrawn while employed Exception: Home Buyer / Life Long Learning Plans Group Retirement Plan Details – DPSP Plan Eligibility Full-Time Customer Service Agents may join after 1 year Contributions Employer will match your regular RRSP contributions to maximum listed based on years of service Default Fund Continuum Target Date Fund Vesting Period Vested after 2 years of membership Withdrawals DPSP cannot be withdrawn until termination / retirement
Pension/RRSP. If, during the term of the Collective Agreement, the union provides written notice to Goodwill that the Bargaining Unit no longer wishes to participate in the Pension Plan described in Schedule “B”-1 of the Collective Agreement, Goodwill agrees it will do the following:
Pension/RRSP. 37.1 For every hour that an eligible employee works, the Employer will match employee contributions into a trust account set up for the purpose of providing pension benefits for individual employees as follows: Full-Time Employees Once an employee completes three (3) full months as a full-time employee, the Employer will match the employee’s contribution to a maximum of $0.80/hr. Example: Employee contributions Employer contributions $0.60/hr $0.60/hr $0.80/hr $0.80/hr $1.00/hr $0.80/hr Part – Time Employees Part-time employees who have worked a minimum of 500 hours in the previous calendar year are eligible to join the plan as of January 1st of the following year. The Employer will match the employee’s contributions to a maximum of $ 0.60/hr. Example: Employee contributions Employer contributions $0.60/hr $0.60/hr $0.80/hr $0.60/hr A calendar year is defined as ‘the period between the first Sunday in January and the last Saturday in December of the same calendar year’. In order to be eligible for the Employer contributions, part-time employees must contribute a minimum of $0.60/hr in order to be eligible for the Employer match of $0.60/hr.
Pension/RRSP. 21.01 For full time employees only, the Company will match yearly RRSP contributions up to $600.00 in each year into the USW District 3 (RRSP) Pension Plan. Eligible employees may contribute to the RRSP through payroll deduction. These contributions will commence the first of every month.
Pension/RRSP. The Employer acknowledges and sees the absolute value in supporting staff to plan for long term stability. During the term of this collective agreement, the Parties will meet and discuss the potential for a Registered Retirement Savings Plan for future employees.
