Self-Funded Deferred Leave Clause Samples

Self-Funded Deferred Leave. Self-Funded Deferred Leave (SFDL) allows full time continuing employees to defer up to 33 1/3% of their gross salary or wages in order to fund a period of absence from their work and return to their regular employment at the expiration of the leave. In this context, SFDL means authorized leave without pay of between 6 and 12 consecutive months. For more information refer to Attachment 3 Financial Information and Arrangements • The deferred salary or wages are exempt from taxation until the funds are released to the employee. During the deferral period, all regular deductions will continue based on 100% of pay except for income tax and the Canada and Quebec Pension Plans on that part of salary or wages deferred. • While on leave, the employee must not work for a federal institution or be paid a salary from the Consolidated Revenue Fund (any funds from the federal government); nor organizations which are in direct commercial competition with Candu Energy. While on leave, the employee must continue to adhere to SNC-Lavalin Code of Ethics and Business Conduct which specifies that final determination if a conflict exists, resides with the Employer. With those exceptions, the Employer should not normally restrict the employee’s activities during the leave. • In accordance with the Income Tax Regulations, the employee must make a commitment to return to his or her regular employment with Candu for not less than the period of leave granted. Thus, SFDL cannot be used for pre-retirement. • The actual date of return to work or completion of the mandatory period after returning to work may be delayed for a valid reason such as sickness or maternity. Where an employee does not fulfill the return to work requirements of this policy, the Employer must notify Revenue

Self-Funded Deferred Leave. Self-funded deferred leave allows full time continuing employees to defer up to thirty-three and one-third percent (33 1/3%) of their gross salary or wages in order to fund a period of absence from their work and return to their regular employment at the expiration of the leave. Subject to operational requirements, an employee may be granted self-funded deferred leave for between six (6) and twelve (12) consecutive months in accordance with the guidelines found in Appendix D of the Collective Agreement. Effective December 31, 2016, personal self-funded deferred leave shall be discontinued from the Company’s leaves of absences programs.