RETAIL CLERKS INDUSTRY PENSION PLAN. Effective January 1, 1999, the Employer agrees to contribute an amount equal to six percent (6%) of all earnings, less taxable benefits, on behalf of each employee covered by this agreement. Effective January 1, 2000, this contribution shall increase to seven percent (7%); on January 1, 2001, this will increase to eight percent (8%). After January 1, 1999, the employee shall also make a contribution, by way of payroll deduction, as follows: Up to 30 years of age 0% 30 - 39 years of age 1% 40 - 49 years of age 2% 50 years of age and older 4% Changes in contribution rates shall be effective from the first day of the pay period following the attainment of age 30, 40 and 50 respectively. "Pay period" means the biweekly period from Sunday through Saturday used by the Employer for payment of earnings. The Employer and the Union agree to the original method of selection of Employer and Union Trustees to administer the plan. It is agreed that the terms of the plan and its administration shall be entirely the responsibility of these original Trustees or their valid replacements, provided that the plan is administered consistently with this Collective Agreement, subject to any applicable government law or regulation and with the intention of meeting all of the requirements for continued registration under the Income Tax Act of Canada. Subject to the foregoing, the Employer and the Union agree to be bound by the actions taken by the Employer and Union Trustees under the plan.
RETAIL CLERKS INDUSTRY PENSION PLAN. Effective January 1, 2000, the Employer agrees to contribute an amount equal to four percent (4%) of all earnings, less taxable benefits, on behalf of each employee covered by this Agreement. Effective January 1, 2001, this contribution shall increase to five percent (5%) ; on January 1, 2002, this will increase to six percent (6%); and on January 1, 2003, this will increase to seven and a half percent (7.5%). After January 1, 2000, the employees shall also make a contribution, by way of payroll deduction, as follows: Up to 30 years of age: 0% 30 - 39 years of age: 1% 40 - 49 years of age: 2% 50 years of age and older 4%
RETAIL CLERKS INDUSTRY PENSION PLAN. The Employer agrees to contribute six percent (6.0%) of all earnings, less taxable benefits, on behalf of each employee covered by this Agreement. The contributions shall be accompanied by a written statement showing the hours paid for each employee. In addition, the Co-operative agrees to pay interest on all such contributions which are not postmarked or deposited within thirty (30) days of the last day of the contribution period at the Bank of Canada Prime Rate as in effect on January 1st and July 1st of each year, from the last day of the period. Each contribution period shall comprise not less than four (4) nor more than five (5) weeks. The Co-operative and the Union agree to the original method of selection of Co-operative and Union Trustees to administer the plan. It is agreed that the terms of the plan and its administration shall be entirely the responsibility of these original Trustees or their valid replacements, provided that the plan is administered consistently with this Collective Agreement, subject to any applicable government law or regulation and with the intention of meeting all of the requirements for continued registration under the Income Tax Act of Canada. Subject to the foregoing, the Co-operative and the Union agree to be bound by the actions taken by the Co-operative and Union Trustees under the plan. Employees on long-term disability benefit shall receive pension credits.
RETAIL CLERKS INDUSTRY PENSION PLAN. 12.01 Sunday after ratification, the Employer contribution rate changes to six percent (6%) of earnings for all employees. April 2, 2004, the contribution rate increases to seven and one-half percent (7.5%). Paid vacation for full-time employees and statutory holidays for all employees shall be considered as time worked for all purposes of the Collective Agreement. The contributions shall be accompanied by a written statement showing the hours paid for each employee. In addition, the Employer agrees to pay interest on all such contributions which are not postmarked or deposited within thirty (3) days of the last day of the contribution period at the Bank of Canada Prime Rate as in effect on January 1st and July 1st of each year, from the last day of the period. Each contribution period shall comprise not less than four (4) nor more than five (5) weeks. The Employer and the Union agree to the original method of selection of Employer and Union Trustees to administer the Plan. It is agreed that the terms of the Plan and its administration shall be entirely the responsibility of these original Trustees or their valid replacements, provided that the Plan is administered consistently with this Collective Agreement, subject to any applicable government law or regulation and with the intention of meeting all of the requirements for continued registration under the Income Tax Act of Canada. Subject to the foregoing, the Employer and the Union agree to be bound by the actions taken by the Employer and Union Trustees under the Plan. Employees on long-term disability benefit shall receive pension credits.
RETAIL CLERKS INDUSTRY PENSION PLAN. Paid vacations for full-time employees and statutory holidays for all employees shall be considered as time worked for all purposes of the Collective Agreement. The contributions shall be accompanied by a written statement showing the hours worked and contributions paid for each employee. In addition, the Employer agrees to pay interest on all such contributions which are not postmarked or deposited within thirty (30) days of the last day of the contribution period at the Bank of Canada Prime Rate as in effect on January 1st and July 1st of each year, from the last day of the period. Each contribution period shall comprise not less than four (4) nor more than five (5) weeks. The Employer and the Union agree to the original method of selection of Employer and Union Trustees to administer the plan. It is agreed that the terms of the plan and its administration shall be entirely the responsibility of these original Trustees or their valid replacements, provided that the plan is administered consistently with this Collective Agreement, subject to any applicable government law or regulation and with the intention of meeting all of the requirements for continued registration under the Income Tax Act of Canada. Subject to the foregoing, the Employer and the Union agree to be bound by the actions taken by the Employer and Union Trustees under the plan.
RETAIL CLERKS INDUSTRY PENSION PLAN. Effective the day following ratification of the 1999 Agreement, the Co-operative agrees to contribute eighty- eight cents (88¢) per hour straight time actually worked, including hours worked on Sunday if such hours are part of the basic workweek of an employee, not to exceed seven dollars and four cents ($7.04) per day or thirty- five dollars and twenty cents $35.20) per week, on behalf of each employee covered by this Agreement.
RETAIL CLERKS INDUSTRY PENSION PLAN. The Employer agrees to contribute an amount equal to seven and a half percent (7.5%) only for employees thirty (30) years of age and older and less than seventy-one (71) years old. The employees shall also make a contribution, by way of payroll deduction, as follows: Up to 30 years of age 0% 30 - 39 years of age: 1% 40 - 49 years of age: 2% 50 - 70 years of age: 4% 71 years of age and older… 0%
RETAIL CLERKS INDUSTRY PENSION PLAN. The Co-operative agrees to contribute eighty-eight cents (88¢) per hour straight time actually worked, not to exceed seven dollars and four cents ($7.04) per day or thirty-five dollars and twenty cents ($35.20) per week for each employee covered by this Agreement. Effective February 1, 2000, the Co-operative agrees to contribute an amount equal to four percent (4%) of all earnings, less taxable benefits, on behalf of each employee covered by this Agreement. Effective February 1, 2001, this contribution shall increase to five percent (5%)/ on February 1, 2002, this will increase to six percent (6%); and on February 1, 2003, this will increase to seven percent (7%). Effective closest pay period to October 1, 2015 this will increase to eight percent (8%). After February 1, 2000, the employee shall also make a contribution, by way of payroll deduction, as follows: Up to 30 years of age 0% 30 years to 39 years of age 1% 40 years to 49 years of age 2% 50 years and older 4%
RETAIL CLERKS INDUSTRY PENSION PLAN. The Employer agrees to contribute eighty-eight cents (88¢) per hour straight time actually worked, not to exceed seven dollars and four cents ($7.04) per day or thirty-five dollars and twenty cents ($35.20) per week, on behalf of each employee covered by this Agreement. The contributions shall be accompanied by a written statement showing the hours paid for each employee. In addition, the Employer agrees to pay interest on all such contributions which are not postmarked or deposited within thirty (30) days of the last day of the contribution period, at the rate of seven percent (7%) per annum from the last day of the period. Each contribution period shall comprise not less than four (4) nor more than five (5) weeks. Effective January 1, 1999, the Employer agrees to contribute an amount equal to six percent (6%) of all earnings, less taxable benefits, on behalf of each employee covered by this agreement. Effective January 1, 2000, this contribution shall increase to seven percent (7%); on January 1, 2001, this will increase to eight percent (8%). After January 1, 1999, the employee shall also make a contribution, by way of payroll deduction, as follows: Up to 30 years of age 0% 30 - 39 years of age 1% 40 - 49 years of age 2% 50 years of age and older 4%
RETAIL CLERKS INDUSTRY PENSION PLAN. I. Effective December 16, 2001, the Employer will participate in the United Food and Commercial Workers Union Pension Plan and Trust Fund (hereinafter referred to as the Plan and/or Trust, as applicable) on the following terms and conditions:
i) Participation in the Plan and Trust will be on the basis that the Employer shall be treated as a separate “cost group” within the Local 1518 Division. It is understood that this means the Trustees will carry out and maintain a separate accounting for the assets and liabilities applicable to the Participating Employees of the Employer and that the benefits provided to the Participating Employees will be determined by the Trustees based on actuarial advice that reflects the contributions paid and payable by and in respect of the Participating employees of the Employer and the demographic characteristics of the employee group.
ii) The Employer agrees to be bound by all of the terms, conditions and provisions of the Agreement and Declaration of Trust under which the Plan and Trust is established and to carry out all of the duties and responsibilities of an Employer under such Agreement and Declaration of Trust including, as appropriate, naming or participating in the naming of Employer Trustees and Employer representatives on a Retirement Committee as provided for under the Plan and Trust.
iii) Commencing with the later of December 16, 2001 or the first day of employment of each participating Employee and for the duration of the Collective Agreement between the Union and the Employer, and any renewals or extensions thereof, or until otherwise changed through collective bargaining or mutual agreement by the Union and the Employer, it is agreed that the following contributions shall be made to the Plan and Trust:
a) By each Participating Employee - a percentage of their Earnings received from the Employer. The percentage applicable to each Participating Employee shall be as follows: Age Last Birthday Percentage Less than 30 Nil 30 or more but less than 40 1.5% 40 or more but less than 50 2.5% 50 or more 4.5% Contributions by Participating Employees shall be made by payroll deduction. Changes in contributions by Participating Employees shall be effective from the first pay period following the date in which they become age 30, 40 and 50 respectively.
b) By the Employer - the percentage set forth below, of the earnings of each Participating Employee. The percentage applicable shall be as follows: Date Percentage Within 30 ...
