SALARY LEAVE PLAN Sample Clauses

SALARY LEAVE PLAN. The Board and the Bargaining Unit acknowledge the granting of such leaves for any of the following purposes:
Sample 1
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SALARY LEAVE PLAN. The Employer shall allow employees with five (5) years, or more, service with the Employer to take a one year leave of absence financed by the employee by deferral of salary. Employees must make written application to the Employer six (6) months before the deferral is to commence, requesting permission to participate in the plan. Written acceptance, or denial, of the employee’s request, with an explanation, shall be forwarded to the employee no later than one (1) month from the date of written application. Approval of individual requests to participate in the plan shall rest solely with the Employer. Refusal by the Employer to approve an application shall be final and The payments of salary, benefits, and the timing of the one year leave of absence shall be as follows: in each year of the plan preceding the year of the leave, an employee shall be paid a reduced percentage of applicable annual salary. The remaining percentage of annual salary shall be deferred and this accumulated amount, plus interest earned, shall be retained by the Employer and paid to the employee during his year of leave, the percentage of annual salary deferred in any one (1) year shall not be less than five (5) percent, the calculation of interest under this plan shall be done monthly, not in advance. The interest paid shall be calculated by averaging the interest rates in effect on the last day of each month of a true savings account, a one (1) year term deposit, a three (3) year term deposit, and a five (5) year term deposit. The rates for each of the accounts identified shall be those quoted by the main branch in Nova Scotia with which the Employer deals. Interest shall be calculated as above and credited to the employees account on the day prior to each of the regular pay dates of the employee. While an employee is enrolled in the plan and not on leave, any benefits tied to salary level shall be structured according to the salary the employee would have received had not been enrolled in the plan. An employees benefits shall be maintained during leave of absence, however, the premium costs of all benefits shall be paid by the employee during the year of leave. While on leave, any benefits tied to salary shall be structured according to the salary the employee would have received in the year prior to taking the leave had not been enrolled in the plan Sick leave credits shall not accumulate, and cannot be used during the year spent on leave. Pension deductions shall be continued dur...
Sample 1
SALARY LEAVE PLAN. 24.01 The Deferred Salary Leave Plan allows employees the opportunity of taking a one (1) year paid Leave of Absence with pay by spreading four (4) years salary payments over a five (5) year period. 24.02 A member who has completed at least three (3) years of continuous service as a permanent employee with the Board may apply for such leave. 24.03 A member shall apply, in writing, to the Director of Education on or before December 31, requesting such leave to begin the following September 1st. Participation in the plan shall not unreasonably be withheld. Written acceptance or denial of the member’s request, with explanation shall be forwarded to the member by April 1st in the school year the original request is made. 24.04 All members participating in the Plan must sign a form of agreement approved by the Union and the Board which outlines the conditions of the leave. 24.05 The payment of the salary, benefits and timing of the one (1) year Leave of Absence shall be as follows: (a) During the first four (4) years of the Plan, a member will be paid eighty percent (80%) of the annual salary. The remaining twenty percent (20%) will be accumulated and this plus any interest earned shall be retained by the Board to fund the year of leave.
Sample 1
SALARY LEAVE PLAN. A Member who has completed at least three (3) years of continuous service under permanent status with the Board may apply for a paid leave of absence for a period of one (1) year or one (1) school year in accordance this Article. The conditions governing a paid leave of absence under this Article shall be: period of leave shall follow the savings period and be in either the third, fourth of fifth year of the plan A Member shall apply to the Manager of Human Resources for a paid leave of absence at least three (3) months prior to the requested of the savings period in plan. amount of the Member's salary that shall be held back the savings period shall be and one-third per cent (33 113%) for a leave in the third year, twenty-five per cent (25%) for a leave in the fourth and per cent (20%) for a leave the fifth ( year Members who hold ten month permanent positions and Elementary School Secretaries who hold twelve (12) month permanent positions must take a leave of absence under this Article which corresponds with the school year. All other Members must take a leave of absence of one full year which will begin on January of the calendar year The Board shall notify the Member within two (2) months of the date of application whether not the Member has been granted the paid leave of absence. All Members participating in the Plan must sign a form ofagreement approved by the Union and the Board which outlines the conditions of the leave. The salary that is held back, together with interest shall be held in trust by the Xxxxxxxx Teachers' Credit Union. During the period of leave, the Board shall pay to the Member. the amount of salary held back The method of payment during the period of leave shall be by mutual agreement of the Board and the
Sample 1
SALARY LEAVE PLAN. A Teacher who has completed at least two (2) years continuous service with the Board may apply for a for one (1) year. The Board shall endeavour to grant all requests for paid leave of absence, but shall have the right to limit the number of leaves granted. The conditions governing a shall be as follows: requests for leaves under this article will be considered only for the third fourth or fifth year of the agreement. a Teacher shall apply to the Board for a paid leave of absence prior to September of the current school year, and the Board shall notify the applicant by October of the current school year. if a paid leave of absence is granted, the Board and the Teacher shall complete and sign an agreement form, a copy of which shall be given to the Local. if the leave is to be taken in the third year of the agreement then thirty-three and one-third per cent (33 of the Teacher's salary shall be held back for each of the two (2) years proceeding the year of leave. if the leave is to be taken in the fourth year of the agreement then twenty-five per cent (25 of the Teacher's salary shall be held back for each of the three (3) years proceeding the year of leave. if the leave is to be taken in the fifth year of the agreement then twenty per cent (20%) of the Teacher's salary shall be held back for each year of the four (4) years preceding the year of leave. the salary held back shall be held in trust by the Xxxxxxxx Teachers' Credit Union and shall be paid to the Teacher in the year of the leave. interest shall be paid to the Teacher in December of the year in which it is earned. The method of payment in the year of the leave shall be mutually agreed upon by the Board and the Teacher. The Board shall maintain full employee benefit coverage for the Teacher during the year of leave. Xxxx leave credits, however, shall not accumulate during the year of the leave. Pension deductions shall be in accordance with the regulations under the Ontario Teachers' Pension Plan. The plan is subject to any regulations or income tax rulings issued by the Revenue Canada. The Local shall be advised of any such rulings. If the Teacher ceases to be employed by the Board, withdraws from the agreement or dies prior to taking the leave of absence, the Board shall pay to the Teacher or the Teacher's estate the full amount of salary together with accrued interest as soon as possible. Conditions governing the return to regular duties shall be in accordance with the terms of Article of this A...
Sample 1
SALARY LEAVE PLAN. Employees on a year of Deferred Salary Leave who are members Teachers' Pension Plan must maintain participation in the Long-term Disability Insurance Plan during their period of leave. employee's Insurance Plans shall be maintained by the Board the employee's Deferred Salary Leave provided that the employee pays of the premiums as follows: of said premiums on or before the commencement date of the leave September 1st for month employees or January for month employees; and of said premiums on or before January 1st for month employees or May for month employees.
Sample 1
SALARY LEAVE PLAN. The Deferred Salary Leave Plan provides employees with the opportunity to take a leave of absence for a specified period of time and to finance the leave by means of salary deferral. All permanent employees having three years service with the Board are eligible to participate in the Plan. Applications for participation in the Plan should be made in writing to the Executive Officer of Human Resources on or before May for commencement of the plan to begin the following school year, if for a leave in a school year, or on or before October for commencement of the plan to begin in the following calendar year for a leave in a calendar year. Approval of individual requests to participate in the plan rests solely with the Board. In each year of the Plan preceding the year of leave, an employee will be paid a reduced percentage of salary. The remaining percentage, which shall not exceed of the employee’s annual salary, will be deferred and shall be retained by the Board to finance the year of leave. The employee shall receive credit for the amounts withheld by the Board along with accrued interest. The interest rate credited to the employee’s account shall be the current rate for the savings account at the Bank used by the Board, and be compounded and credited as per the bank’s practice. A statement of the employee’s account will be issued at the end of each year. Such a statement shall be made available upon request by the employee. While an employee is participating in the deferral period any benefits tied to salary level shall be based on the salary the employee would have received had the employee not been participating in the Plan. During the leave year, however, no credit for increment shall be granted. During the employee’s leave of absence the Board shall continue to pay its share of premium costs for any benefits which the employee elects to maintain. The employee shall be responsible for remitting share of applicable premium costs. During the employee’s leave of absence the employee shall be paid according to the method of payment outlined in Article
Sample 1
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SALARY LEAVE PLAN. The Division shall administer the Manitoba Teachers’ Society Deferred Salary Leave Plan according to the requirements of the plan, The parties agree to to this collective agreement a renewed Memorandum outlining administrative provisions for this Plan.
Sample 1

Related to SALARY LEAVE PLAN

  • Deferred Salary Leave Plan (1) The deferred salary leave plan enables Employees to take one (1) year of leave from the Public Service and to finance this leave through a deferral of Salary in previous years. (2) Under this plan, participating Employees agree to defer a portion of their Salary for four (4) consecutive Academic Years and the Employer agrees to grant the Employee leave in the fifth year, and to use the amounts deferred in the previous four (4) years to pay the Employee's Salary during the period of the leave. Participation in the plan is subject to operational requirements. (3) During the period of leave, Employees may engage in whatever activities they wish. (4) The individual plan for each participating Employee is a six (6) Academic Year period consisting of the following: (a) The first four consecutive years during which the Employee draws 80% of Salary earned in each of the four years and defers the remaining 20%; (b) The fifth consecutive year in which the Employee takes the leave, and is paid from the amounts deferred above plus any interest earned on the deferred funds; and (c) The sixth consecutive year in which the Employee returns to employment with the Public Service of Nunavut for a minimum of one year. (5) There is no maximum number of Employees allowed to enter the plan. (6) Executive Directors ensure that approved leaves do not impair the future operation of their School Operations. (7) Employees make written application to their Executive Director. Applications should state the proposed start of the Salary deferral and the proposed period of leave. (8) The Executive Director reviews the application and the requirements of the School Operations and notifies the Employee and the respective Department of Finance, Pay and Benefits Officer at least six (6) weeks prior to the start of Salary Deferral. (9) Each participant will sign an agreement covering the details of the plan. (10) In each year of the plan preceding the period of the leave, the Employee will be paid 80% of the applicable Salary. The remaining 20% of Salary will be deferred and this amount will be retained in trust by the Employer to finance payments during the period of leave. (11) The deferred Salary will be placed in a trust fund by the Government and any returns on the investment of the trust will be used to pay the participant during the period of leave. (a) The money held in trust will be pooled with other Government funds and the Employee will be credited with the average rate of return on those funds. (b) Investments will be restricted to those eligible under Section 57(1) of the Financial Administration Act. (c) A statement of the individual's account will be provided at each anniversary of the plan. (12) During the period of leave, the participant shall receive, if on a one (1) year leave, one twenty-sixth (1/26) of the amount deferred plus any trust fund returns in each pay period, less applicable deductions. No additional payments to the participant can be made such as loans, subsidies, Allowances or Salary. (13) Income tax will be deducted in accordance with the provisions of the Income Tax Act and its Regulations. (14) During the first four (4) years of the plan, the Employer shall provide Employee benefits at a level equivalent to 100% of Salary. Benefits and premium recoveries for the period of leave will be governed by the rules for leave without pay. All benefits cease except Health Care Plan, superannuation, supplementary death benefit, disability insurance, and dental coverage. Premiums for these plans are payable by the Employee. Arrangements can be made to have deductions from pay for some of these benefits. (15) Upon return from leave, the Department will place the Employee in the position held at the commencement of the leave. (16) Returning Employees will have their qualifications re-assessed and placed on the appropriate pay scale. (17) The Employer shall cancel participation in the plan and shall refund, within 60 days, the total of the deferred Salary plus earnings from the plan if the Employee dies or employment is otherwise terminated. (18) Where operational requirements would not be met if the Employee proceeded on leave in the fifth year, or where exceptional changes in personal circumstances make the leave unfeasible, the Employer will give the Employee the choice of the following: (a) withdrawing from the plan and taking a refund of the total in the deferred salary account; or (b) deferring the period of leave to either the sixth or the seventh academic consecutive year or to some other mutually agreeable time. (19) Upon withdrawal from the plan the total in the account will be repaid to the Employee within 60 days from the notification of withdrawal.

  • Deferred Salary Leave Each employer ratifying this Agreement will establish or, as necessary, review and update a deferred salary leave plan consistent with Regulations issued by Canada Revenue Agency under the Income Tax Act. The parties may use the Application, Agreement, and Approval Form as a template (see Appendix H) for the deferred salary leave plan.

  • ’ Compensation Leave If such determination cannot readily be made and all healthcare leave or annual leave subject to 100% payoff has been applied to the absence, the employee shall be placed on Official Leave until a final determination is made.

  • Vacation Leave 11.1 Employees will retain and carry forward any eligible and unused vacation leave that was accrued prior to the effective date of this Agreement.

  • Vacation Leave Accrual ‌ After a full-time employee has been in pay status for eighty (80) non-overtime hours in a calendar month, the employee will accrue vacation leave according to the rate schedule below. Vacation leave accrual for part-time employees will be proportionate to the number of hours the part-time employee is in pay status during the month to that required for full-time employment.

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