Retirement Programs. The Company agrees to provide Employees with the benefits under the Magna Group of Companies Retirement Savings Program as set out in the Employee Retirement Savings Program Booklets.
Retirement Programs. A. Indiana Teacher Retirement Fund Contributions are discontinued at the time of termination. Contributions may be left on account or withdrawn after separation, based upon the individual vesting status of the teacher.
B. 401 A Teachers who are terminated have the option of ‘cashing out’ their investment, transferring funds or leaving funds in place.
C. 403B Teachers contributing to this program must contact their respective carrier for information concerning current federal guidelines and/or refer to current FCSC plan documents.
Retirement Programs. 14.01 All employees will be eligible to participate in the Festival’s Group RRSP program (the “RRSP”) in accordance with the following:
(a) An employee may join the RRSP following completion of his or her probationary period;
(b) The employee may choose to contribute up to 5% of his or her gross earnings (including vacation pay) to the RRSP;
(c) Once the employee completes twelve (12) months full-time service OR 2 seasons (minimum of 480 hours each) of work, the Festival will thereafter remit to the RRSP on behalf of the employee an amount equivalent to that contributed by the employee;
(d) Employees will have access to an independent financial advisor for at the cost of the Festival, to assist with investment choices for the employee’s RRSP contribution. Employees may access up to one hour per year on paid work time to meet with said advisor. Additional appointments will be on the employee’s own time.
14.02 Employees will not be permitted to withdraw any money out of the RRSP while they continue to be employed by the Festival.
14.03 In addition to the above-mentioned contributions, the Festival shall pay contributions to the Canada Pension Plan as determined by law.
(a) Full-time employees participating in the Stratford Festival Pension Plan (the “Pension Plan”) as at January 1, 2006 will, at their option, be permitted to continue to participate in the Pension Plan under its terms and conditions until their termination or retirement, in lieu of participating in the RRSP as outlined in clause14.01. Notwithstanding, such full-time employees may also elect to participate, or to continue to participate, in the RRSP to a maximum of 1.5% of earnings, and the Festival shall make a matching contribution to the RRSP. The Festival agrees that no changes will be made to the Pension Plan unless the Union consents.
(b) Any employee participating in the Pension Plan at January 1, 2006 who chooses not to continue to participate will become a deferred vested member in the Pension Plan as of the date of ratification, and all accrued service and pension credit will be held until his or her retirement or termination. Effective with this agreement, such employees will be entitled to participate in the RRSP in accordance with the terms of clause 14.01 above, and the Festival shall remit the matching RRSP contribution on his or her behalf as outlined in clause 14.01.
Retirement Programs. The Employer shall continue contributions to the several retirement programs available to employees at the rate authorized by law, and employees shall continue to be eligible for those retirement benefits and allowances permitted by law.
Retirement Programs. In the event of a Termination as a result of a Change in Control, Executive shall continue to accumulate benefit service as an employee for purposes of the Company's Cash Balance Pension Plan, 401(k) Plan, and the Supplemental Executive Retirement Plan through October 31, 1998.
Retirement Programs. 44.1 Members of the Bargaining Unit shall participate in the State Teachers Retirement System of Ohio, R.C. Chapter 3307, or the Alternative Retirement Plan (ARP), R.C. Chapter 3305, with eligibility and contributions as determined by regulations of said retirement systems. The election of whether to participate in STRS or, in the alternative the ARP, is irrevocable and cannot be changed while the Bargaining Unit member is employed at Central State University.
44.2 The Administration and Bargaining Unit members will pay the contribution rate currently in effect under law for the duration of this Agreement. The contribution rates on the effective date of this Agreement were: STRS: University 14.0% Bargaining Unit Member 14.0% ARP: University 14.0% minus the required payment to STRS for the unfunded liability Bargaining Unit Member 14.0%
Retirement Programs. No Reportable Event has occurred and is continuing with respect to any Plan.
Retirement Programs. 11.17.1 The Employer shall make available to eligible faculty such annuity or retirement programs authorized by law, State Board Policy 2.70.01 and RCW 28B.10.400, as now or hereafter amended.
Retirement Programs. 515 1. Employees may participate in one (1) of the following retirement programs:
516 a. Michigan Public School Employees Retirement System (MPSERS). Participation is available to Employees who were enrolled in the Plan as of December 31, 1995. Employees hired after January 1, 1996 may only participate in the Plan if they have prior MPSERS service at one of the following Michigan Universities: Central Michigan University, Eastern Michigan University, Xxxxxx State University, Lake Superior State University, Michigan Technological University, Northern Michigan University and Western Michigan University.
517 b. Teachers Insurance and Annuities Association-College Retirement Equities Fund (TIAA- CREF).
518 2. Each Employee must elect to participate in one (1) of these retirement programs within thirty (30) calendar days of the commencement of the Employee’s regular employment with the Employer. An Employee who does not make such an election within this time period shall automatically be enrolled in the TIAA-CREF Defined Contribution Plan. Once an Employee has been so enrolled such enrollment is final and cannot be changed.
Retirement Programs. 8.1 The Board will pay up to 9.4% of the employees’ contribution on behalf to the State of Illinois Teacher’s Retirement System.
8.2 The Board will contribute up to 1.12% of the employee's share of TRS eligible salary to the Teacher Health Insurance System (T.H.I.S.).
8.3 The Board will pay up to 4.5% of the employees’ contribution to the Illinois Municipal Retirement Fund (IMRF) for non-certified employees for the duration of this contract.
