Prior to Leave Commencing Sample Clauses

Prior to Leave Commencing i) Once salary deferral has commenced, employees can only withdraw from the plan under exceptional circumstances such as severe financial hardship etc. ii) To withdraw from the plan, the employee must make a request in writing to their Department Head, giving reasons etc., at least four (4) months prior to the scheduled start date of the leave. The Department Head will send the request to the Assistant CAO, Human Resources with any additional comments attached. iii) Regardless of the length of time that salary deferrals have been made, the employee withdrawing from the plan will receive payment of accrued funds plus that year's interest, in a lump sum. iv) If an employee is laid off during the salary deferral period, the employee will be required to immediately withdraw from the plan and accrued salary plus that year's interest will be paid in a lump sum to the employee. v) Should death occur to the employee during the salary deferral period, all accrued funds plus that year's interest will be paid to the estate of the employee in a lump sum.