Common use of Retirement Plan Contribution Details Clause in Contracts

Retirement Plan Contribution Details. a) All contributions received shall vest immediately in the employee’s account on whose behalf the deposit was made. The Employer’s contributions to the retirement plans will be non-refundable to the Employer once received by the applicable CLAC Remittance Team except where adjustments are required due to administrative remittance errors. b) Where legislation prohibits retirement plan contributions because of age, an amount equivalent to the contributions in this Article will be paid to that employee each pay period starting the first pay period after September 1st of the year in which the employee reaches the age of restriction. This payment in-lieu of retirement contributions will not be less than the amount that employee would have received if he/she were still contributing to the applicable plan. c) The total amount of retirement contributions remitted by the Employer and on an employee’s behalf cannot exceed the annual maximum contribution limits outlined by the Canada Revenue Agency. The Employer has no obligation to monitor the employee’s contribution made outside the employment relationship. For greater clarity, it is the employee’s responsibility to ensure he/she does not exceed their annual contribution limits. If the employee exceeds the annual maximum contribution limit as a result of contributions made outside the employment relationship, neither the Employer nor the Union shall be held liable for any tax consequence imposed on the employee. d) The Employer will remit retirement contributions to the applicable CLAC Remittance Team as outlined in Article 26. Employer, employee, and voluntary contributions must be recorded separately on the remittance. e) In the event that a remittance has not been received by the CLAC Remittance Team by the date set out in Article 26, the Employer is responsible for compensating the retirement plans for any missed contributions and investment returns lost by the employee(s) as a result of the late remittance. This compensation amount shall be calculated on all applicable contributions that are part of the remittance. The retirement plans will allocate the missed contributions and investment returns to the affected employees’ accounts. f) The Union acknowledges and agrees that, other than remitting contributions to the retirement plans as set out in this Article, the Employer shall not be obligated to contribute toward the cost of retirement benefits provided by the Plan or RSP or be responsible for providing such benefits. g) The Employer and the Union will cooperate in providing the information required to administer the Plan on the employees’ behalf. The CLAC Retirement Team shall be responsible for informing the employees about the Plan, which includes providing updated account statements of all contributions received, investment returns allocated, and the current account balance.

Retirement Plan Contribution Details. a) All contributions received shall vest immediately in the employee’s account on whose behalf the deposit was made. The Employer’s contributions to the retirement plans will be non-refundable to the Employer once received by the applicable CLAC Remittance Team except where adjustments are required due to administrative remittance errors. b) Where legislation prohibits retirement plan RSP contributions because of age, an amount equivalent to the contributions in this Article 17.01 will be paid to that employee on each pay period starting the first pay period after September 1st of the year in which the employee reaches the age of restrictioncheque. This payment payment, in-lieu of retirement contributions RSP contributions, will not be less than the amount that employee would have received if he/she they were still contributing to the applicable plan. Where legislation prohibits an employee to make contributions to the matching Pension Plan governed by the CLAC Pension Plan Board of Trustees because of an outlined in 17.02 shall cease and not be remitted to the Union. c) The total amount of retirement contributions remitted by the Employer and on an employee’s behalf cannot exceed the annual maximum contribution limits outlined by the Canada Revenue Agency. The Employer has no obligation to monitor the employee’s contribution made outside the employment relationship. For greater clarity, it is the employee’s responsibility to ensure he/she does not exceed their annual contribution limits. If the employee exceeds the annual maximum contribution limit as a result of contributions made outside the employment relationship, neither the Employer nor the Union shall be held liable for any tax consequence imposed on the employee. d) The Employer will remit retirement contributions to the applicable CLAC Remittance Team as outlined in Article 2625. Employer, employee, employee and voluntary contributions must be recorded separately on the remittance. e) In the event that a remittance has not been received by the CLAC Remittance Team by the date set out in Article 26, the Employer is responsible for compensating the retirement plans for any missed contributions and investment returns lost by the employee(s) as a result of the late remittance. This compensation amount shall be calculated on all applicable contributions that are part of the remittance. The retirement plans will allocate the missed contributions and investment returns to the affected employees’ accounts. f) The Union acknowledges and agrees that, other than remitting contributions to the retirement plans Plans as set out in this Article, the Employer shall not be obligated to contribute toward the cost of retirement benefits provided by the Plan or RSP and Pension Plans or be responsible for providing such benefits. gf) The Employer and the Union will cooperate in providing the information required to administer the Plan retirement plans on the employees’ behalf. The CLAC Retirement Team shall be responsible for informing the employees about the Planplans, which includes providing updated account statements of all the contributions received, investment returns allocated, allocated and the current account balance.

Retirement Plan Contribution Details. a) All contributions received shall vest immediately in the employee’s account on whose behalf the deposit was made. The Employer’s contributions to the retirement plans will be non-refundable to the Employer once received by the applicable CLAC Remittance Team except where adjustments are required due to administrative remittance errors. b) Where legislation prohibits retirement plan contributions because of age, an amount equivalent to the contributions in this Article Articles 17.01 and 17.02 will be paid to that employee each pay period starting the first pay period after September 1st of the year in which the employee reaches the age of restriction. This payment in-lieu of retirement contributions will not be less than the amount that employee would have received if he/she they were still contributing to the applicable plan. c) The total amount of retirement contributions remitted by the Employer and on an employee’s behalf cannot exceed the annual maximum contribution limits outlined by the Canada Revenue Agency. The Employer has no obligation to monitor the employee’s contribution made outside the employment relationship. For greater clarity, it is the employee’s responsibility to ensure he/she does they do not exceed their annual contribution limits. If the employee exceeds the annual maximum contribution limit as a result of contributions made outside the employment relationship, neither the Employer nor the Union shall be held liable for any tax consequence imposed on the employee. d) The Employer will remit retirement contributions to the applicable CLAC Remittance Team as outlined in Article 2625. Employer, employee, and voluntary contributions must be recorded separately on the remittance. e) In the event that a remittance has not been received by the CLAC Remittance Team by the date set out in Article 2625, the Employer is responsible for compensating the retirement plans for any missed contributions and investment returns lost by the employee(s) as a result of the late remittance. This compensation amount shall be calculated on all applicable contributions that are part of the remittance. The retirement plans will allocate the missed contributions and investment returns to the affected employees’ accounts. f) The Union acknowledges and agrees that, other than remitting contributions to the retirement plans as set out in this Article, the Employer shall not be obligated to contribute toward the cost of retirement benefits provided by the Plan or RSP or be responsible for providing such benefits. g) The Employer and the Union will cooperate in providing the information required to administer the Plan retirement plans on the employees’ behalf. The CLAC Retirement Team shall be responsible for informing the employees about the Planplans, which includes providing updated account statements of all contributions received, investment returns allocated, and the current account balance.

Retirement Plan Contribution Details. a) All contributions received shall vest immediately in the employee’s account on whose behalf the deposit was made. employee The Employer’s Employer contributions to the retirement plans will be non-refundable to the Employer once received by the applicable CLAC Remittance Team except where adjustments are required due to administrative remittance errors. b) Where legislation prohibits retirement plan contributions because of age, an amount equivalent to the contributions in this Article Articles 17.01 and 17.02 will be paid to that employee each pay period starting the first pay period after September 1st of the year in which the employee reaches the age of restriction. This payment in-lieu of retirement contributions will not be less than the amount that employee would have received if he/she were still contributing to the applicable plan. c) The total amount of retirement contributions remitted by the Employer and on an employee’s behalf cannot exceed the employee annual maximum contribution limits outlined by the Canada Revenue Agency. The Employer has no obligation to monitor the employee’s contribution made outside the employment employee relationship. For greater clarity, it is the employee’s employee s responsibility to ensure he/she does not exceed their annual contribution limits. If the employee exceeds the annual maximum contribution limit as a result of contributions made outside the employment relationship, neither the Employer nor the Union shall be held liable for any tax consequence imposed on the employee. d) The Employer will remit retirement contributions to the applicable CLAC Remittance Team as outlined in Article 2625. Employer, employee, and voluntary contributions must be recorded separately on the remittance. e) In the event that a remittance has not been received by the CLAC Remittance Team by the date set out in Article 2625, the Employer is responsible for compensating the retirement plans for any missed contributions and investment returns lost by the employee(s) as a result of the late remittance. This compensation amount shall be calculated on all applicable contributions that are part of the remittance. The retirement plans will allocate the missed contributions and investment returns to the affected employees’ accounts.employee f) The Union acknowledges and agrees that, other than remitting contributions to the retirement plans as set out in this Article, the Employer shall not be obligated to contribute toward the cost of retirement benefits provided by the Plan or RSP or be responsible for providing such benefits. g) The Employer and the Union will cooperate in providing the information required to administer the Plan retirement plans on the employees’ behalf. employee The CLAC Retirement Team shall be responsible for informing the employees about the Planplans, which includes providing updated account statements of all contributions received, investment returns allocated, and the current account balance.

Retirement Plan Contribution Details. a) The Employer will remit RSP contributions to the Union as outlined in Article 9. b) All contributions received shall vest immediately in the employee’s account on whose behalf the deposit was made. The Employer’s contributions to the retirement plans will be non-refundable to the Employer once received by the applicable CLAC Remittance Team except where adjustments are required due to administrative remittance errors. b) Where legislation prohibits retirement plan contributions because of age, an amount equivalent to the contributions in this Article will be paid to that employee each pay period starting the first pay period after September 1st of the year in which the employee reaches the age of restriction. This payment in-lieu of retirement contributions will not be less than the amount that employee would have received if he/she were still contributing to the applicable plan. c) The total amount of retirement RSP contributions remitted by the Employer and Employer, on an employee’s behalf behalf, cannot exceed the annual maximum contribution limits outlined by the Canada Revenue Agency. The Employer has no obligation to monitor the employee’s RSP contribution made outside the employment relationship. For greater clarity, it is the employee’s responsibility to ensure he/she does not exceed their annual contribution limits. If if the employee exceeds the annual maximum contribution limit limits as a result of contributions made outside the employment relationship, neither the Employer nor the Union shall not be held liable for any tax consequence imposed on the employee. d) The Employer will remit retirement contributions to the applicable CLAC Remittance Team as outlined in Article 26. Employer, employee, and voluntary contributions must be recorded separately on the remittance. e) In the event that a remittance has not been received by the CLAC Remittance Team by the date set out in Article 26, the Employer is responsible for compensating the retirement plans for any missed contributions and investment returns lost by the employee(s) as a result of the late remittance. This compensation amount shall be calculated on all applicable contributions that are part of the remittance. The retirement plans will allocate the missed contributions and investment returns to the affected employees’ accounts. f) The Union acknowledges and agrees that, other than remitting contributions to the retirement plans RSP plan as set out in this Article, the Employer shall not be obligated to contribute toward the cost of retirement benefits provided by the RSP Plan or RSP or be responsible for providing such benefits. ge) The Employer and the Union will cooperate in providing the information required to administer the Pension Plan on the employees’ behalf. The CLAC Retirement Team Pension Plan shall be responsible for informing the employees about the Pension Plan, which includes providing updated account statements of all contributions received, investment returns allocated, and the current account balance. f) The Employer agrees to provide the Union with the social insurance number and current address of all employees on whose behalf contributions are being remitted. g) Where legislation prohibits an Employer from contributing because of an employee’s age, an amount equivalent to the contributions in Articles 18.01(a) and 18.02(a) will instead be paid on that employee’s pay cheque start the first pay period after September first (1st) of the year in which the employee reaches the age of restriction. This payment, in lieu of retirement plan contributions, will not be less than the amount that employee would have received if they were still contributing to a CLAC sponsored retirement plan.

Retirement Plan Contribution Details. a) All The Employer will remit RSP contributions to the Union as outlined in Article 6. b) The Employer’s contributions to the RSP Plan will be non- refundable once received shall by the Union and will vest immediately in the employee’s account employee on whose behalf the deposit was made. c) The total amount of RSP contributions remitted by the Employer, on an employee’s behalf, cannot exceed the annual maximum money purchase and RSP contribution limits outlined by the Canada Revenue Agency. The EmployerEmployer has no obligation to monitor the employee’s RSP contribution made outside the employment relationship. For greater clarity, if the employee exceeds the annual maximum money purchase and RSP contribution limits as a result of contributions made outside the employment relationship, the Employer shall not be liable for any tax consequence imposed on the employee. d) The Union acknowledges and agrees that, other than remitting contributions to the retirement plans will be non-refundable to RSP as set out in this Article, the Employer once received shall not be obligated to contribute toward the cost of retirement benefits provided by the applicable CLAC Remittance Team except where adjustments are required due to administrative remittance errorsRSP or be responsible for providing such benefits. be) The Employer agrees to provide the Union with the social insurance number and current address of all employees on whose behalf contributions are being remitted. f) Where legislation prohibits retirement plan contributions an employee from contributing because of age, an amount equivalent to the contributions in this Article 15, will be paid to that employee on each pay period paycheque starting the first pay period after September 1st of the year in which the employee reaches the age of restriction. This payment in-lieu of retirement contributions will not be less than the amount that employee would have received if he/she they were still contributing to the applicable plan. c) The total amount of retirement contributions remitted by the Employer and on an employee’s behalf cannot exceed the annual maximum contribution limits outlined by the Canada Revenue Agency. The Employer has no obligation to monitor the employee’s contribution made outside the employment relationship. For greater clarity, it is the employee’s responsibility to ensure he/she does not exceed their annual contribution limits. If the employee exceeds the annual maximum contribution limit as a result of contributions made outside the employment relationship, neither the Employer nor the Union shall be held liable for any tax consequence imposed on the employee. d) The Employer will remit retirement contributions to the applicable CLAC Remittance Team as outlined in Article 26. Employer, employee, and voluntary contributions must be recorded separately on the remittance. e) In the event that a remittance has not been received by the CLAC Remittance Team by the date set out in Article 26, the Employer is responsible for compensating the retirement plans for any missed contributions and investment returns lost by the employee(s) as a result of the late remittance. This compensation amount shall be calculated on all applicable contributions that are part of the remittance. The retirement plans will allocate the missed contributions and investment returns to the affected employees’ accounts. f) The Union acknowledges and agrees that, other than remitting contributions to the retirement plans as set out in this Article, the Employer shall not be obligated to contribute toward the cost of retirement benefits provided by the Plan or RSP or be responsible for providing such benefits. g) The Employer and the Union will cooperate in providing the information required to administer the Plan retirement plans on the employees’ behalf. The CLAC Retirement Team shall be responsible for informing the employees about the Planplans, which includes providing updated account statements of all contributions received, investment returns allocated, and the current account balance.

Retirement Plan Contribution Details. a) The Employer will remit RSP and Pension Plan contributions to the Union as outlined in Article 9. b) All contributions received shall vest immediately in the employee’s account on whose behalf the deposit was made. The Employer’s contributions to the retirement plans will be non-refundable to the Employer once received by the applicable CLAC Remittance Team except where adjustments are required due to administrative remittance errors. b) Where legislation prohibits retirement plan contributions because of age, an amount equivalent to the contributions in this Article will be paid to that employee each pay period starting the first pay period after September 1st of the year in which the employee reaches the age of restriction. This payment in-lieu of retirement contributions will not be less than the amount that employee would have received if he/she were still contributing to the applicable plan. c) The total amount of retirement RSP and Pension Plan contributions remitted by the Employer and Employer, on an employee’s behalf behalf, cannot exceed the annual maximum contribution limits outlined by the Canada Revenue Agency. The Employer has no obligation to monitor the employee’s RSP contribution made outside the employment relationship. For greater clarity, it is the employee’s responsibility to ensure he/she does not exceed their annual contribution limits. If if the employee exceeds the annual maximum contribution limit limits as a result of contributions made outside the employment relationship, neither the Employer nor the Union shall not be held liable for any tax consequence imposed on the employee. d) The Employer will remit retirement contributions to the applicable CLAC Remittance Team as outlined in Article 26. Employer, employee, and voluntary contributions must be recorded separately on the remittance. e) In the event that a remittance has not been received by the CLAC Remittance Team by the date set out in Article 26, the Employer is responsible for compensating the retirement plans for any missed contributions and investment returns lost by the employee(s) as a result of the late remittance. This compensation amount shall be calculated on all applicable contributions that are part of the remittance. The retirement plans will allocate the missed contributions and investment returns to the affected employees’ accounts. f) The Union acknowledges and agrees that, other than remitting contributions to the retirement plans RSP and Pension Plans as set out in this Article, the Employer shall not be obligated to contribute toward the cost of retirement benefits provided by the Plan or RSP and Pension Plans or be responsible for providing such benefits. ge) The Employer and the Union will cooperate in providing the information required to administer the Pension Plan on the employees’ behalf. The CLAC Retirement Team Pension Plan shall be responsible for informing the employees about the Pension Plan, which includes providing updated account statements of all contributions received, investment returns allocated, and the current account balance. f) The Employer agrees to provide the Union with the social insurance number and current address of all employees on whose behalf contributions are being remitted. g) Where legislation prohibits an Employer from contributing because of an employee’s age, an amount equivalent to the contributions in Articles 18.01(a) and 18.02(a) will instead be paid on that employee’s pay cheque start the first pay period after September first (1st) of the year in which the employee reaches the age of restriction. This payment, in lieu of retirement plan contributions, will not be less than the amount that employee would have received if they were still contributing to a CLAC sponsored retirement plan.