Retirement Trust Fund. The employer in consultation with the employee involved will agree to add the hourly contribution amount to a combination of the employee’s wages and SHP and VP, or will deposit the hourly contribution amount to the employee’s individual RRSP.
Retirement Trust Fund. The Employer in consultation with the Employee involved will agree to add the hourly contribution amount to a combination of the Employee’s wages and SHP and VP. Wage schedules for workers under this option will be adjusted by a formula that will provide a total of 80% of the pension contribution normally contributed to the Pension Trust Fund. This amount will be distributed to the Base Rate and Holiday/Vacation Rate as per the established distribution method. [e.g.: Industrial Pension adjustment $5.50 x 80% = $4.40 added to pensioner gross rate; Commercial/Institutional Pension adjustment $4.50 x 80% = $3.60 added to pensioner gross rate]. The Pension contribution attributed to Pensioners and the Employer’s payroll burdens will equal the amount normally contributed to pension.
Retirement Trust Fund. 19.01 For Commercial/Institutional work, the Employer shall contribute to the Alberta Sheet Metal Workers’ Retirement Trust Fund the amount indicated in the wage schedule for every hour that an Employee, covered by the terms of this Agreement, is employed. For Industrial work only, the Employer shall contribute to the Alberta Sheet Metal Workers’ Retirement Trust Fund the amount indicated in the wage schedule for every hour earned at the applicable rate of pay, that an Employee, covered by the terms of this Agreement, is employed. Such contributions shall commence on the first day of employment for such Employees, except as follows:
Retirement Trust Fund. Pension contributions shall not be payable in respect of a member on or after November 30th of the calendar year in which the member attains the age of seventy-one (71) years or such other maximum age prescribed under Canada’s income tax act. Such monies that would have otherwise been payable on behalf of the Member as pension contributions shall be paid directly to the Member as a separate hourly payment exclusive of other wage-related earnings. (For clarity purposes, the payment is equal to the number of hours worked, multiplied by the pension contribution otherwise payable).
Retirement Trust Fund. 19.01 For commercial/institutional work, the Employer shall contribute to the Alberta Sheet Metal Workers' Retirement Trust Fund the amount indicated in the wage schedule for every hour that an Employee, covered by the terms of this Agreement, is employed. For Industrial work only, the Employer shall contribute to the Alberta Sheet Metal Workers’ Retirement Trust Fund the amount indicated in the wage schedule for every hour earned at the applicable rate of pay, that an Employee, covered by the terms of this Agreement, is employed. Pension contributions shall not be payable in respect of a Member on or after November 30th of the calendar year in which the Member attains the age of seventy-one (71) years or such other maximum age prescribed under Canada’s Income Tax Act. Such contributions shall commence on the first day of employment for such Employees, except as follows: Any member of the Union who is receiving a Pension, or has made application to the Alberta Sheet Metal Workers’ Retirement Trust Fund to receive a Pension, and is entitled to receive a pension shall advise their
Retirement Trust Fund. 14.11 An annual report on Trust Funds will be provided to the Parties to the Agreement upon request to the Administrator. [The Joint Board of Trustees must give formal approval prior to this clause taking effect.]
