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 and management discretion, 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.
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 Policy Requirements 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.
