Self-Funded Leave Plan. Regular full-time and regular part-time employees are eligible to access the self- funded leave plan established by the University, subject to the following terms and conditions: (a) The plan is available to employees wishing to spread four (4) years' salary over a five (5) year period, in accordance with Part LXVIII of the Income Tax Regulations, Section 6801, to enable them to take a one (1) year leave of absence following the four (4) years of salary deferral. (b) The purpose of the plan is to fund a leave of absence. It is not intended to help fund a retirement or other permanent separation from the University. Upon completing the leave of absence, the Employee must return to the University for a period equal to or greater than the duration of the leave. (c) The employee must make written application to the Department Head/designate at least six (6) months prior to the intended commencement date of the program (i.e. the salary deferral portion), stating the intended purpose of the leave. (d) Written applications will be reviewed by the Department Head/designate. Leaves requested for the purpose of pursuing further formal nursing education will be given priority. Applications for leaves requested for other purposes will be given the next level of priority on the basis of seniority. (e) Initial approval must be given by the Department Head and final approval given by the appropriate Xxxx or Vice-Principal. Denial at either stage shall not be considered a violation of the agreement. However, approval will not be unreasonably denied. (f) During the four (4) years of salary deferral, 20% of the employee's gross annual earnings will be deducted and held for the employee and will not be accessible to them until the year of the leave or upon withdrawal from the plan. (g) During the leave, the individual may not be employed by the University in any capacity, even if that employment is casual and unrelated to their normal duties. (h) The manner in which the deferred salary is held shall be at the discretion of the Employer. (i) All deferred salary, plus accrued interest, if any, shall be paid to the employee at the commencement of the leave or in accordance with such other payment schedule as may be agreed upon between the Employer and the employee. (j) All benefits shall be kept whole during the four (4) years of salary deferral. During the year of the leave, seniority will accumulate. Service for the purpose of vacation and salary progression and other benefits will be retained but will not accumulate during the period of leave. If an individual becomes ill, no sick leave will be charged during the duration of the leave - sick leave will commence on the individual's return date. Employees shall become responsible for the full payment of premiums for any health and welfare benefits in which they are participating. Contributions to the University’s Pension Plan will be in accordance with the Plan. Employees will not be eligible to participate in the disability income plan during the year of leave. (k) An employee may withdraw from the plan at any time during the deferral portion provided three (3) months notice is given to the Department Head and the Plan Administrator in writing. Deferred salary, plus accrued interest, if any, will be returned to the employee, within a reasonable period of time. (l) If the employee terminates employment, the deferred salary held by the Employer plus accrued interest, if any, will be returned to the employee within a reasonable period of time. In case of the employee's death, the funds will be paid to the employee's estate. (m) The Employer will endeavour to find a temporary replacement for the employee as far in advance as practicable. If the Employer is unable to find a suitable replacement, it may postpone the leave. The Employer will give the employee as much notice as is reasonably possible. The employee will have the option of remaining in the Plan and rearranging the leave at a mutually agreeable time or of withdrawing from the Plan and having the deferred salary, plus accrued interest, if any, paid out to the employee within a reasonable period of time. (n) The employee will be reinstated to their former position unless the position has been discontinued, in which case the employee shall be given a comparable job. (o) Final approval for entry into the pre-paid leave program will be subject to the employee entering into a formal agreement with the University in order to authorize the University to make the appropriate deductions from the employee's pay. Such agreement will include: i) A statement that the employee is entering the pre-paid leave program in accordance with Article 12.15 of the Collective Agreement. ii) The period of salary deferral and the period for which the leave is requested. iii) The manner in which the deferred salary is to be held. The letter of application from the employee to the Employer to enter the pre-paid leave program will be appended to and form part of the written agreement. (p) In the event that the self-funded leave plan, as described in this Article or in the formal agreement with the employee, conflicts with the Income Tax
Appears in 3 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
Self-Funded Leave Plan. Regular full-time and regular part-time employees are eligible to access the self- funded leave plan established by the University, subject to the following terms and conditions:
(a) The plan is available to employees wishing to spread four (4) years' salary over a five (5) year period, in accordance with Part LXVIII of the Income Tax Regulations, Section 6801, to enable them to take a one (1) year leave of absence following the four (4) years of salary deferral.
(b) The purpose of the plan is to fund a leave of absence. It is not intended to help fund a retirement or other permanent separation from the University. Upon completing the leave of absence, the Employee must return to the University for a period equal to or greater than the duration of the leave.
(c) The employee must make written application to the Department Head/designate at least six (6) months prior to the intended commencement date of the program (i.e. the salary deferral portion), stating the intended purpose of the leave.
(d) Written applications will be reviewed by the Department Head/designate. Leaves requested for the purpose of pursuing further formal nursing education will be given priority. Applications for leaves requested for other purposes will be given the next level of priority on the basis of seniority.
(e) Initial approval must be given by the Department Head and final approval given by the appropriate Xxxx or Vice-Principal. Denial at either stage shall not be considered a violation of the agreement. However, approval will not be unreasonably denied.
(f) During the four (4) years of salary deferral, 20% of the employee's gross annual earnings will be deducted and held for the employee and will not be accessible to them her or him until the year of the leave or upon withdrawal from the plan.
(g) During the leave, the individual may not be employed by the University in any capacity, even if that employment is casual and unrelated to their his/her normal duties.
(h) The manner in which the deferred salary is held shall be at the discretion of the Employer.
(i) All deferred salary, plus accrued interest, if any, shall be paid to the employee at the commencement of the leave or in accordance with such other payment schedule as may be agreed upon between the Employer and the employee.
(j) All benefits shall be kept whole during the four (4) years of salary deferral. During the year of the leave, seniority will accumulate. Service for the purpose of vacation and salary progression and other benefits will be retained but will not accumulate during the period of leave. If an individual becomes ill, no sick leave will be charged during the duration of the leave - sick leave will commence on the individual's return date. Employees shall become responsible for the full payment of premiums for any health and welfare benefits in which they are participating. Contributions to the University’s Pension Plan will be in accordance with the Plan. Employees will not be eligible to participate in the disability income plan during the year of leave.
(k) An employee may withdraw from the plan at any time during the deferral portion provided three (3) months notice is given to the Department Head and the Plan Administrator in writing. Deferred salary, plus accrued interest, if any, will be returned to the employee, within a reasonable period of time.
(l) If the employee terminates employment, the deferred salary held by the Employer plus accrued interest, if any, will be returned to the employee within a reasonable period of time. In case of the employee's death, the funds will be paid to the employee's estate.
(m) The Employer will endeavour to find a temporary replacement for the employee as far in advance as practicable. If the Employer is unable to find a suitable replacement, it may postpone the leave. The Employer will give the employee as much notice as is reasonably possible. The employee will have the option of remaining in the Plan and rearranging the leave at a mutually agreeable time or of withdrawing from the Plan and having the deferred salary, plus accrued interest, if any, paid out to the employee within a reasonable period of time.
(n) The employee will be reinstated to their her or his former position unless the position has been discontinued, in which case the employee shall be given a comparable job.
(o) Final approval for entry into the pre-paid leave program will be subject to the employee entering into a formal agreement with the University in order to authorize the University to make the appropriate deductions from the employee's pay. Such agreement will include:
i) A statement that the employee is entering the pre-paid leave program in accordance with Article 12.15 of the Collective Agreement.
ii) The period of salary deferral and the period for which the leave is requested.
iii) The manner in which the deferred salary is to be held. The letter of application from the employee to the Employer to enter the pre-paid leave program will be appended to and form part of the written agreement.
(p) In the event that the self-funded leave plan, as described in this Article or in the formal agreement with the employee, conflicts with the Income TaxTax Act or any other legislation, that legislation shall take precedence.
Appears in 3 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
Self-Funded Leave Plan. Regular full-time and regular part-time employees are eligible 22.01 The Self Funded Leave Plan has been developed to access afford Employees the self- funded leave plan established by the University, subject opportunity of taking up to the following terms and conditions:
(a) The plan is available to employees wishing to spread four (4) years' salary over a five (5) year period, in accordance with Part LXVIII of the Income Tax Regulations, Section 6801, to enable them to take a one (1) year leave of absence following and, through deferral of salary, to finance the four (4) leave subject to the regulations under the Income Tax Act.
22.02 To be eligible to participate in the plan, an Employee must have three years of salary deferralservice with the Board.
(b1) An Employee must make a written application to the Director of Education on or before March 31 requesting approval to participate in the plan.
(2) On or before April 30, the Director of Education or designate shall reply in writing stating whether or not the application has been approved and providing an explanation if the application is denied.
(3) The purpose right to reject or approve individual requests to participate in the plan will rest solely with the Board.
(1) In each year of the plan is Plan preceding the year of the leave, an Employee shall be paid 80% of annual salary. The remaining 20% of annual salary shall be deferred and deposited to a joint trust fund at the Employer's banking institution with an account heading "Bluewater District School Board In Trust for (name of Employee)". The amount deposited to this account will be retained for the Employee to finance the year of the leave. Interest will be retained and paid out at the end of the calendar year. Consideration will be given to a request for a leave to be financed by deduction of absencea larger amount of salary over a shorter period of time. It is For example, deduct for three years to finance a leave in the fourth year or deduct for two years to finance a leave in the third year. The length of the Plan shall not intended to help fund a retirement or other permanent separation from exceed six years, including the Universityyear of the leave. Upon completing The scheduled year of leave will only be taken in the last year of the Plan.
(2) At the start of the leave of absence, the Employee must return amount deposited to the University Employee account plus accrued interest to that date shall be transferred to the general account of the Bluewater District School Board to pay the Employee's salary, and no further interest shall be earned.
(3) At least four (4) weeks prior to the start of the Leave, the participating Employee shall select one (1) of the following methods of salary payment for a period equal the one (1) year Leave:
(a) A lump sum payment of the entire trust account balance on or before the commencement of the Leave less an amount sufficient to pay the cost of all taxes, pension amounts and Benefit Plans, as per Article 17, while on Leave.
(b) Forty percent (40%) of salary on or greater than before September 20 and sixty percent (60%) of salary on or before January 20. Payment on January 20 shall include the duration total amount on deposit together with interest earned up to and including that date.
(c) Payment as per method detailed in the collective agreement in force at the time.
(1) While an Employee is enrolled in the Plan and not on leave, and subject to the approval of the carrier, any salary-related benefits shall be maintained at the same level as if the Employee was receiving 100% of salary. While on leave, benefits shall continue in force, subject to the approval of the carrier. Salary-related benefits shall be maintained according to the salary the Employee would have received in the year prior to taking the leave had the Employee not been enrolled in the Plan, and subject to the approval of the carrier.
(2) While on leave, the total premium cost for all Benefits Plans, as per Article 17 shall continue in force.
(1) Upon return from leave, the Employee shall be entitled to sick leave credits accumulated prior to commencement of the leave but no sick leave credits may be earned during the leave.
(c2) The employee Employees on permanent layoff must make written application withdraw from the Plan.
(3) A Employee may withdraw from the Plan any time up to the Department Head/designate at least six sixty (660) months days prior to the intended commencement date of the program (i.e. the salary deferral portion), stating the intended purpose of the leave.
(d) Written applications will be reviewed by the Department Head/designate. Leaves requested for the purpose of pursuing further formal nursing education will be given priority. Applications for leaves requested for other purposes will be given the next level of priority on the basis of seniority.
(e) Initial approval must be given by the Department Head and final approval given by the appropriate Xxxx or Vice-Principal. Denial at either stage shall not be considered a violation of the agreement. However, approval will not be unreasonably denied.
(f) During the four (4) years of salary deferral, 20% of the employee's gross annual earnings will be deducted and held for the employee and will not be accessible to them until the year of the leave or upon withdrawal from is to be taken. Any exceptions to the plan.
(g) During the leave, the individual may not be employed by the University in any capacity, even if that employment is casual and unrelated to their normal duties.
(h) The manner in which the deferred salary is held aforesaid shall be at the discretion of the EmployerBoard.
(i4) All In the event of withdrawal, the Employee shall be paid a lump sum adjustment for any monies deferred salary, to the date of withdrawal plus accrued interest. Repayment shall be made within sixty (60) days of the date of withdrawal. The lump sum adjustment may be paid to the Employee in some other manner and on some other date or dates as mutually agreed between the Employee and the Board.
(5) Should an Employee die while participating in the Plan, if any, any monies accumulated plus interest accrued at the time of death shall be paid to the employee at the commencement of the leave or in accordance with such other payment schedule as may be agreed upon between the Employer and the employee.
(j) All benefits shall be kept whole during the four (4) years of salary deferral. During the year of the leave, seniority will accumulate. Service for the purpose of vacation and salary progression and other benefits will be retained but will not accumulate during the period of leave. If an individual becomes ill, no sick leave will be charged during the duration of the leave - sick leave will commence on the individual's return date. Employees shall become responsible for the full payment of premiums for any health and welfare benefits in which they are participating. Contributions to the University’s Pension Plan will be in accordance with the Plan. Employees will not be eligible to participate in the disability income plan during the year of leave.
(k) An employee may withdraw from the plan at any time during the deferral portion provided three (3) months notice is given to the Department Head and the Plan Administrator in writing. Deferred salary, plus accrued interest, if any, will be returned to the employee, within a reasonable period of time.
(l) If the employee terminates employment, the deferred salary held by the Employer plus accrued interest, if any, will be returned to the employee within a reasonable period of time. In case of the employee's death, the funds will be paid to the employeeEmployee's estate.
(m6) The Employer will endeavour All Employees wishing to find a temporary replacement for the employee as far in advance as practicable. If the Employer is unable to find a suitable replacement, it may postpone the leave. The Employer will give the employee as much notice as is reasonably possible. The employee will have the option of remaining participate in the Plan shall be required to sign a contract supplied by the Board before final approval for participation shall be granted.
(7) The Board shall co-operate in making such pension deductions as are requested by the Employee and rearranging approved by OMERS (or TPP).
(8) Income Tax shall be deducted on the leave at a mutually agreeable time or of withdrawing from the Plan and having the deferred salary, plus accrued interest, if any, actual amounts paid out to the employee within a reasonable period Employee during each year of the self funded leave plan, subject to the income tax regulations in effect at that time.
(n9) The employee will be reinstated to their former position unless Every Employee participating in the position has been discontinued, in which case Self Funded Leave Plan shall receive a semiannual review statement copy of the employee shall be given a comparable jobSFLP trust account by January 1 and June 30 of each year indicating the following:
(a) Current contribution.
(ob) Final approval for entry into the pre-paid leave program will be subject to the employee entering into a formal agreement with the University in order to authorize the University to make the appropriate deductions from the employee's pay. Such agreement will include:
i) A statement that the employee is entering the pre-paid leave program in accordance with Article 12.15 of the Collective Agreement.
ii) The period of salary deferral and the period for which the leave is requested.
iii) The manner in which the deferred salary is to be held. The letter of application from the employee to the Employer to enter the pre-paid leave program will be appended to and form part of the written agreementCurrent interest earned.
(pc) In the event that the self-funded leave plan, as described in this Article or in the formal agreement with the employee, conflicts with the Income TaxTotal contributions to date.
(d) Total interest to date.
Appears in 2 contracts
Samples: Collective Agreement, Collective Agreement
Self-Funded Leave Plan. Regular full-time and regular part-time employees are eligible to access the self- self-funded leave plan established by the University, subject to the following terms and conditions:
(a) The plan is available to employees wishing to spread four (4) years' salary over a five (5) year period, in accordance with Part LXVIII of the Income Tax Regulations, Section 6801, to enable them to take a one (1) year leave of absence following the four (4) years of salary deferral.
(b) The purpose of the plan is to fund a leave of absence. It is not intended to help fund a retirement or other permanent separation from the University. Upon completing the leave of absence, the Employee must return to the University for a period equal to or greater than the duration of the leave.
(c) The employee must make written application to the Department Head/designate at least six (6) months prior to the intended commencement date of the program (i.e. the salary deferral portion), stating the intended purpose of the leave.
(d) Written applications will be reviewed by the Department Head/designate. Leaves requested for the purpose of pursuing further formal nursing education will be given priority. Applications for leaves requested for other purposes will be given the next level of priority on the basis of seniority.
(e) Initial approval must be given by the Department Head and final approval given by the appropriate Xxxx or Vice-Principal. Denial at either stage shall not be considered a violation of the agreement. However, approval will not be unreasonably denied.
(f) During the four (4) years of salary deferral, 20% of the employee's gross annual earnings will be deducted and held for the employee and will not be accessible to them until the year of the leave or upon withdrawal from the plan.
(g) During the leave, the individual may not be employed by the University in any capacity, even if that employment is casual and unrelated to their normal duties.
(h) The manner in which the deferred salary is held shall be at the discretion of the Employer.
(i) All deferred salary, plus accrued interest, if any, shall be paid to the employee at the commencement of the leave or in accordance with such other payment schedule as may be agreed upon between the Employer and the employee.
(j) All benefits shall be kept whole during the four (4) years of salary deferral. During the year of the leave, seniority will accumulate. Service for the purpose of vacation and salary progression and other benefits will be retained but will not accumulate during the period of leave. If an individual becomes ill, no sick leave will be charged during the duration of the leave - sick leave will commence on the individual's return date. Employees shall become responsible for the full payment of premiums for any health and welfare benefits in which they are participating. Contributions to the University’s University Pension Plan will be in accordance with the Plan. Employees will not be eligible to participate in the disability income plan during the year of leave.
(k) An employee may withdraw from the plan at any time during the deferral portion provided three (3) months notice is given to the Department Head and the Plan Administrator in writing. Deferred salary, plus accrued interest, if any, will be returned to the employee, within a reasonable period of time.
(l) If the employee terminates employment, the deferred salary held by the Employer plus accrued interest, if any, will be returned to the employee within a reasonable period of time. In case of the employee's death, the funds will be paid to the employee's estate.
(m) The Employer will endeavour to find a temporary replacement for the employee as far in advance as practicable. If the Employer is unable to find a suitable replacement, it may postpone the leave. The Employer will give the employee as much notice as is reasonably possible. The employee will have the option of remaining in the Plan and rearranging the leave at a mutually agreeable time or of withdrawing from the Plan and having the deferred salary, plus accrued interest, if any, paid out to the employee within a reasonable period of time.
(n) The employee will be reinstated to their former position unless the position has been discontinued, in which case the employee shall be given a comparable job.
(o) Final approval for entry into the pre-paid leave program will be subject to the employee entering into a formal agreement with the University in order to authorize the University to make the appropriate deductions from the employee's pay. Such agreement will include:
i) A statement that the employee is entering the pre-paid leave program in accordance with Article 12.15 12.08 through 12.13 of the Collective Agreement.
ii) The period of salary deferral and the period for which the leave is requested.
iii) The manner in which the deferred salary is to be held. The letter of application from the employee to the Employer to enter the pre-paid leave program will be appended to and form part of the written agreement.
(p) In the event that the self-funded leave plan, as described in this Article or in the formal agreement with the employee, conflicts with the Income TaxTax Act or any other legislation, that legislation shall take precedence.
Appears in 1 contract
Samples: Collective Agreement
Self-Funded Leave Plan. Regular full-time and regular part-time employees are eligible 26.01 The Self Funded Leave Plan has been developed to access afford Employees the self- funded leave plan established by the University, subject opportunity of taking up to the following terms and conditions:
(a) The plan is available to employees wishing to spread four (4) years' salary over a five (5) year period, in accordance with Part LXVIII of the Income Tax Regulations, Section 6801, to enable them to take a one (1) year leave of absence following and, through deferral of salary, to finance the four (4) leave subject to the regulations under the Income Tax Act.
26.02 To be eligible to participate in the plan, an Employee must have three years of salary deferralservice with the Board.
(b1) An Employee must make a written application to the Director of Education on or before March 31 requesting approval to participate in the plan.
(2) On or before April 30, the Director of Education or designate shall reply in writing stating whether or not the application has been approved and providing an explanation if the application is denied.
(3) The purpose right to reject or approve individual requests to participate in the plan will rest solely with the Board.
(1) In each year of the plan is Plan preceding the year of the leave, an Employee shall be paid 80% of annual salary. The remaining 20% of annual salary shall be deferred and deposited to a joint trust fund at the Employer's banking institution with an account heading "Bluewater District School Board In Trust for (name of Employee)". The amount deposited to this account will be retained for the Employee to finance the year of the leave. Interest will be retained and paid out at the end of the calendar year. Consideration will be given to a request for a leave to be financed by deduction of absencea larger amount of salary over a shorter period of time. It is For example, deduct for three years to finance a leave in the fourth year or deduct for two years to finance a leave in the third year. The length of the Plan shall not intended to help fund a retirement or other permanent separation from exceed six years, including the Universityyear of the leave. Upon completing The scheduled year of leave will only be taken in the last year of the Plan.
(2) At the start of the leave of absence, the Employee must return amount deposited to the University Employee account plus accrued interest to that date shall be transferred to the general account of the Bluewater District School Board to pay the Employee's salary, and no further interest shall be earned.
(3) At least four (4) weeks prior to the start of the Leave, the participating Employee shall select one
(1) of the following methods of salary payment for a period equal the one (1) year Leave:
(a) A lump sum payment of the entire trust account balance on or before the commencement of the Leave less an amount sufficient to pay the cost of all taxes, pension amounts and Benefit Plans, as per Article 30, while on Leave.
(b) Forty percent (40%) of salary on or greater than before September 20 and sixty percent (60%) of salary on or before January 20. Payment on January 20 shall include the duration total amount on deposit together with interest earned up to and including that date.
(c) Payment as per method detailed in the collective agreement in force at the time.
(1) While an Employee is enrolled in the Plan and not on leave, and subject to the approval of the carrier, any salary-related benefits shall be maintained at the same level as if the Employee was receiving 100% of salary. While on leave, benefits shall continue in force, subject to the approval of the carrier. Salary-related benefits shall be maintained according to the salary the Employee would have received in the year prior to taking the leave had the Employee not been enrolled in the Plan, and subject to the approval of the carrier.
(2) While on leave, the total premium cost for all Benefits Plans, as per Article 30 shall continue in force.
(1) Upon return from leave, the Employee shall be entitled to sick leave credits accumulated prior to commencement of the leave but no sick leave credits may be earned during the leave.
(c2) The employee Employees on permanent layoff must make written application withdraw from the Plan.
(3) A Employee may withdraw from the Plan any time up to the Department Head/designate at least six sixty (660) months days prior to the intended commencement date of the program (i.e. the salary deferral portion), stating the intended purpose of the leave.
(d) Written applications will be reviewed by the Department Head/designate. Leaves requested for the purpose of pursuing further formal nursing education will be given priority. Applications for leaves requested for other purposes will be given the next level of priority on the basis of seniority.
(e) Initial approval must be given by the Department Head and final approval given by the appropriate Xxxx or Vice-Principal. Denial at either stage shall not be considered a violation of the agreement. However, approval will not be unreasonably denied.
(f) During the four (4) years of salary deferral, 20% of the employee's gross annual earnings will be deducted and held for the employee and will not be accessible to them until the year of the leave or upon withdrawal from is to be taken. Any exceptions to the plan.
(g) During the leave, the individual may not be employed by the University in any capacity, even if that employment is casual and unrelated to their normal duties.
(h) The manner in which the deferred salary is held aforesaid shall be at the discretion of the EmployerBoard.
(i4) All In the event of withdrawal, the Employee shall be paid a lump sum adjustment for any monies deferred salary, to the date of withdrawal plus accrued interest. Repayment shall be made within sixty (60) days of the date of withdrawal. The lump sum adjustment may be paid to the Employee in some other manner and on some other date or dates as mutually agreed between the Employee and the Board.
(5) Should an Employee die while participating in the Plan, if any, any monies accumulated plus interest accrued at the time of death shall be paid to the employee at the commencement of the leave or in accordance with such other payment schedule as may be agreed upon between the Employer and the employee.
(j) All benefits shall be kept whole during the four (4) years of salary deferral. During the year of the leave, seniority will accumulate. Service for the purpose of vacation and salary progression and other benefits will be retained but will not accumulate during the period of leave. If an individual becomes ill, no sick leave will be charged during the duration of the leave - sick leave will commence on the individual's return date. Employees shall become responsible for the full payment of premiums for any health and welfare benefits in which they are participating. Contributions to the University’s Pension Plan will be in accordance with the Plan. Employees will not be eligible to participate in the disability income plan during the year of leave.
(k) An employee may withdraw from the plan at any time during the deferral portion provided three (3) months notice is given to the Department Head and the Plan Administrator in writing. Deferred salary, plus accrued interest, if any, will be returned to the employee, within a reasonable period of time.
(l) If the employee terminates employment, the deferred salary held by the Employer plus accrued interest, if any, will be returned to the employee within a reasonable period of time. In case of the employee's death, the funds will be paid to the employeeEmployee's estate.
(m6) The Employer will endeavour All Employees wishing to find a temporary replacement for the employee as far in advance as practicable. If the Employer is unable to find a suitable replacement, it may postpone the leave. The Employer will give the employee as much notice as is reasonably possible. The employee will have the option of remaining participate in the Plan shall be required to sign a contract supplied by the Board before final approval for participation shall be granted.
(7) The Board shall co-operate in making such pension deductions as are requested by the Employee and rearranging approved by OMERS.
(8) Income Tax shall be deducted on the leave at a mutually agreeable time or of withdrawing from the Plan and having the deferred salary, plus accrued interest, if any, actual amounts paid out to the employee within a reasonable period Employee during each year of the self funded leave plan, subject to the income tax regulations in effect at that time.
(n9) The employee will be reinstated to their former position unless Every Employee participating in the position has been discontinued, in which case Self Funded Leave Plan shall receive a semi-annual review statement copy of the employee shall be given a comparable jobSFLP trust account by January 1 and June 30 of each year indicating the following:
(a) Current contribution.
(ob) Final approval for entry into the pre-paid leave program will be subject to the employee entering into a formal agreement with the University in order to authorize the University to make the appropriate deductions from the employee's pay. Such agreement will include:
i) A statement that the employee is entering the pre-paid leave program in accordance with Article 12.15 of the Collective Agreement.
ii) The period of salary deferral and the period for which the leave is requested.
iii) The manner in which the deferred salary is to be held. The letter of application from the employee to the Employer to enter the pre-paid leave program will be appended to and form part of the written agreementCurrent interest earned.
(pc) In the event that the self-funded leave plan, as described in this Article or in the formal agreement with the employee, conflicts with the Income TaxTotal contributions to date.
(d) Total interest to date.
Appears in 1 contract
Samples: Collective Agreement
Self-Funded Leave Plan. Regular full-time and regular part-time employees are eligible 26.01 The Self Funded Leave Plan has been developed to access afford Employees the self- funded leave plan established by the University, subject opportunity of taking up to the following terms and conditions:
(a) The plan is available to employees wishing to spread four (4) years' salary over a five (5) year period, in accordance with Part LXVIII of the Income Tax Regulations, Section 6801, to enable them to take a one (1) year leave of absence following and, through deferral of salary, to finance the four (4) leave subject to the regulations under the Income Tax Act.
26.02 To be eligible to participate in the plan, an Employee must have three years of salary deferralservice with the Board.
(b1) An Employee must make a written application to the Director of Education on or before March 31 requesting approval to participate in the plan.
(2) On or before April 30, the Director of Education or designate shall reply in writing stating whether or not the application has been approved and providing an explanation if the application is denied.
(3) The purpose right to reject or approve individual requests to participate in the plan will rest solely with the Board.
(1) In each year of the plan is Plan preceding the year of the leave, an Employee shall be paid 80% of annual salary. The remaining 20% of annual salary shall be deferred and deposited to a joint trust fund at the Employer's banking institution with an account heading "Bluewater District School Board In Trust for (name of Employee)". The amount deposited to this account will be retained for the Employee to finance the year of the leave. Interest will be retained and paid out at the end of the calendar year. Consideration will be given to a request for a leave to be financed by deduction of absencea larger amount of salary over a shorter period of time. It is For example, deduct for three years to finance a leave in the fourth year or deduct for two years to finance a leave in the third year. The length of the Plan shall not intended to help fund a retirement or other permanent separation from exceed six years, including the Universityyear of the leave. Upon completing The scheduled year of leave will only be taken in the last year of the Plan.
(2) At the start of the leave of absence, the Employee must return amount deposited to the University Employee account plus accrued interest to that date shall be transferred to the general account of the Bluewater District School Board to pay the Employee's salary, and no further interest shall be earned.
(3) At least four (4) weeks prior to the start of the Leave, the participating Employee shall select one
(1) of the following methods of salary payment for a period equal the one (1) year Leave:
(a) A lump sum payment of the entire trust account balance on or before the commencement of the Leave less an amount sufficient to pay the cost of all taxes, pension amounts and Benefit Plans, as per Article 30, while on Leave.
(b) Forty percent (40%) of salary on or greater than before September 20 and sixty percent (60%) of salary on or before January 20. Payment on January 20 shall include the duration total amount on deposit together with interest earned up to and including that date.
(c) Payment as per method detailed in the collective agreement in force at the time.
(1) While an Employee is enrolled in the Plan and not on leave, and subject to the approval of the carrier, any salary-related benefits shall be maintained at the same level as if the Employee was receiving 100% of salary. While on leave, benefits shall continue in force, subject to the approval of the carrier. Salary-related benefits shall be maintained according to the salary the Employee would have received in the year prior to taking the leave had the Employee not been enrolled in the Plan, and subject to the approval of the carrier.
(2) While on leave, the total premium cost for all Benefits Plans, as per Article 30 shall continue in force.
(1) Upon return from leave, the Employee shall be entitled to sick leave credits accumulated prior to commencement of the leave but no sick leave credits may be earned during the leave.
(c2) The employee Employees on permanent layoff must make written application withdraw from the Plan.
(3) A Employee may withdraw from the Plan any time up to the Department Head/designate at least six sixty (660) months days prior to the intended commencement date of the program (i.e. the salary deferral portion), stating the intended purpose of the leave.
(d) Written applications will be reviewed by the Department Head/designate. Leaves requested for the purpose of pursuing further formal nursing education will be given priority. Applications for leaves requested for other purposes will be given the next level of priority on the basis of seniority.
(e) Initial approval must be given by the Department Head and final approval given by the appropriate Xxxx or Vice-Principal. Denial at either stage shall not be considered a violation of the agreement. However, approval will not be unreasonably denied.
(f) During the four (4) years of salary deferral, 20% of the employee's gross annual earnings will be deducted and held for the employee and will not be accessible to them until the year of the leave or upon withdrawal from is to be taken. Any exceptions to the plan.
(g) During the leave, the individual may not be employed by the University in any capacity, even if that employment is casual and unrelated to their normal duties.
(h) The manner in which the deferred salary is held aforesaid shall be at the discretion of the EmployerBoard.
(i4) All In the event of withdrawal, the Employee shall be paid a lump sum adjustment for any monies deferred salary, to the date of withdrawal plus accrued interest. Repayment shall be made within sixty (60) days of the date of withdrawal. The lump sum adjustment may be paid to the Employee in some other manner and on some other date or dates as mutually agreed between the Employee and the Board.
(5) Should an Employee die while participating in the Plan, if any, any monies accumulated plus interest accrued at the time of death shall be paid to the employee at the commencement of the leave or in accordance with such other payment schedule as may be agreed upon between the Employer and the employee.
(j) All benefits shall be kept whole during the four (4) years of salary deferral. During the year of the leave, seniority will accumulate. Service for the purpose of vacation and salary progression and other benefits will be retained but will not accumulate during the period of leave. If an individual becomes ill, no sick leave will be charged during the duration of the leave - sick leave will commence on the individual's return date. Employees shall become responsible for the full payment of premiums for any health and welfare benefits in which they are participating. Contributions to the University’s Pension Plan will be in accordance with the Plan. Employees will not be eligible to participate in the disability income plan during the year of leave.
(k) An employee may withdraw from the plan at any time during the deferral portion provided three (3) months notice is given to the Department Head and the Plan Administrator in writing. Deferred salary, plus accrued interest, if any, will be returned to the employee, within a reasonable period of time.
(l) If the employee terminates employment, the deferred salary held by the Employer plus accrued interest, if any, will be returned to the employee within a reasonable period of time. In case of the employee's death, the funds will be paid to the employeeEmployee's estate.
(m6) The Employer will endeavour All Employees wishing to find a temporary replacement for the employee as far in advance as practicable. If the Employer is unable to find a suitable replacement, it may postpone the leave. The Employer will give the employee as much notice as is reasonably possible. The employee will have the option of remaining participate in the Plan shall be required to sign a contract supplied by the Board before final approval for participation shall be granted.
(7) The Board shall co-operate in making such pension deductions as are requested by the Employee and rearranging approved by XXXXX.
(8) Income Tax shall be deducted on the leave at a mutually agreeable time or of withdrawing from the Plan and having the deferred salary, plus accrued interest, if any, actual amounts paid out to the employee within a reasonable period Employee during each year of the self funded leave plan, subject to the income tax regulations in effect at that time.
(n9) The employee will be reinstated to their former position unless Every Employee participating in the position has been discontinued, in which case Self Funded Leave Plan shall receive a semi-annual review statement copy of the employee shall be given a comparable jobSFLP trust account by January 1 and June 30 of each year indicating the following:
(a) Current contribution.
(ob) Final approval for entry into the pre-paid leave program will be subject to the employee entering into a formal agreement with the University in order to authorize the University to make the appropriate deductions from the employee's pay. Such agreement will include:
i) A statement that the employee is entering the pre-paid leave program in accordance with Article 12.15 of the Collective Agreement.
ii) The period of salary deferral and the period for which the leave is requested.
iii) The manner in which the deferred salary is to be held. The letter of application from the employee to the Employer to enter the pre-paid leave program will be appended to and form part of the written agreementCurrent interest earned.
(pc) In the event that the self-funded leave plan, as described in this Article or in the formal agreement with the employee, conflicts with the Income TaxTotal contributions to date.
(d) Total interest to date.
Appears in 1 contract
Samples: Collective Agreement
Self-Funded Leave Plan. Regular full-time and regular part-time employees are eligible 26.01 The Self Funded Leave Plan has been developed to access afford Employees the self- funded leave plan established by the University, subject opportunity of taking up to the following terms and conditions:
(a) The plan is available to employees wishing to spread four (4) years' salary over a five (5) year period, in accordance with Part LXVIII of the Income Tax Regulations, Section 6801, to enable them to take a one (1) year leave of absence following and, through deferral of salary, to finance the four (4) leave subject to the regulations under the Income Tax Act.
26.02 To be eligible to participate in the plan, an Employee must have three years of salary deferralservice with the Board.
(b1) An Employee must make a written application to the Director of Education on or before March 31 requesting approval to participate in the plan.
(2) On or before April 30, the Director of Education or designate shall reply in writing stating whether or not the application has been approved and providing an explanation if the application is denied.
(3) The purpose right to reject or approve individual requests to participate in the plan will rest solely with the Board.
(1) In each year of the plan is Plan preceding the year of the leave, an Employee shall be paid 80% of annual salary. The remaining 20% of annual salary shall be deferred and deposited to a joint trust fund at the Employer’s banking institution with an account heading "Bluewater District School Board In Trust for (name of Employee)". The amount deposited to this account will be retained for the Employee to finance the year of the leave. Interest will be retained and paid out at the end of the calendar year. Consideration will be given to a request for a leave to be financed by deduction of absencea larger amount of salary over a shorter period of time. It is For example, deduct for three years to finance a leave in the fourth year or deduct for two years to finance a leave in the third year. The length of the Plan shall not intended to help fund a retirement or other permanent separation from exceed six years, including the Universityyear of the leave. Upon completing The scheduled year of leave will only be taken in the last year of the Plan.
(2) At the start of the leave of absence, the Employee must return amount deposited to the University Employee account plus accrued interest to that date shall be transferred to the general account of the Bluewater District School Board to pay the Employee’s salary, and no further interest shall be earned.
(3) At least four (4) weeks prior to the start of the Leave, the participating Employee shall select one
(1) of the following methods of salary payment for a period equal the one (1) year Leave:
(a) A lump sum payment of the entire trust account balance on or before the commencement of the Leave less an amount sufficient to pay the cost of all taxes, pension amounts and Benefit Plans, as per Article 30, while on Leave.
(b) Forty percent (40%) of salary on or greater than before September 20 and sixty percent (60%) of salary on or before January 20. Payment on January 20 shall include the duration total amount on deposit together with interest earned up to and including that date.
(c) Payment as per method detailed in the collective agreement in force at the time.
(1) While an Employee is enrolled in the Plan and not on leave, and subject to the approval of the carrier, any salary-related benefits shall be maintained at the same level as if the Employee was receiving 100% of salary. While on leave, benefits shall continue in force, subject to the approval of the carrier. Salary-related benefits shall be maintained according to the salary the Employee would have received in the year prior to taking the leave had the Employee not been enrolled in the Plan, and subject to the approval of the carrier.
(2) While on leave, the total premium cost for all Benefits Plans, as per Article 30 shall continue in force.
(1) Upon return from leave, the Employee shall be entitled to sick leave credits accumulated prior to commencement of the leave but no sick leave credits may be earned during the leave.
(c2) The employee Employees on permanent layoff must make written application withdraw from the Plan.
(3) A Employee may withdraw from the Plan any time up to the Department Head/designate at least six sixty (660) months days prior to the intended commencement date of the program (i.e. the salary deferral portion), stating the intended purpose of the leave.
(d) Written applications will be reviewed by the Department Head/designate. Leaves requested for the purpose of pursuing further formal nursing education will be given priority. Applications for leaves requested for other purposes will be given the next level of priority on the basis of seniority.
(e) Initial approval must be given by the Department Head and final approval given by the appropriate Xxxx or Vice-Principal. Denial at either stage shall not be considered a violation of the agreement. However, approval will not be unreasonably denied.
(f) During the four (4) years of salary deferral, 20% of the employee's gross annual earnings will be deducted and held for the employee and will not be accessible to them until the year of the leave or upon withdrawal from is to be taken. Any exceptions to the plan.
(g) During the leave, the individual may not be employed by the University in any capacity, even if that employment is casual and unrelated to their normal duties.
(h) The manner in which the deferred salary is held aforesaid shall be at the discretion of the EmployerBoard.
(i4) All In the event of withdrawal, the Employee shall be paid a lump sum adjustment for any monies deferred salary, to the date of withdrawal plus accrued interest. Repayment shall be made within sixty (60) days of the date of withdrawal. The lump sum adjustment may be paid to the Employee in some other manner and on some other date or dates as mutually agreed between the Employee and the Board.
(5) Should an Employee die while participating in the Plan, if any, any monies accumulated plus interest accrued at the time of death shall be paid to the employee at the commencement of the leave or in accordance with such other payment schedule as may be agreed upon between the Employer and the employeeEmployee’s estate.
(j6) All benefits shall be kept whole during the four (4) years of salary deferral. During the year of the leave, seniority will accumulate. Service for the purpose of vacation and salary progression and other benefits will be retained but will not accumulate during the period of leave. If an individual becomes ill, no sick leave will be charged during the duration of the leave - sick leave will commence on the individual's return date. Employees shall become responsible for the full payment of premiums for any health and welfare benefits in which they are participating. Contributions to the University’s Pension Plan will be in accordance with the Plan. Employees will not be eligible wishing to participate in the disability income plan during Plan shall be required to sign a contract supplied by the year of leaveBoard before final approval for participation shall be granted.
(k7) An employee may withdraw from The Board shall co-operate in making such pension deductions as are requested by the plan at any time during Employee and approved by XXXXX.
(8) Income Tax shall be deducted on the deferral portion provided three (3) months notice is given actual amounts paid to the Department Head and Employee during each year of the Plan Administrator in writing. Deferred salaryself funded leave plan, plus accrued interest, if any, will be returned subject to the employee, within a reasonable period of income tax regulations in effect at that time.
(l9) If Every Employee participating in the employee terminates employment, the deferred salary held by the Employer plus accrued interest, if any, will be returned to the employee within Self Funded Leave Plan shall receive a reasonable period of time. In case semiannual review statement copy of the employee's death, SFLP trust account by January 1 and June 30 of each year indicating the funds will be paid to the employee's estatefollowing:
(a) Current contribution.
(mb) The Employer will endeavour to find a temporary replacement for the employee as far in advance as practicable. If the Employer is unable to find a suitable replacement, it may postpone the leave. The Employer will give the employee as much notice as is reasonably possible. The employee will have the option of remaining in the Plan and rearranging the leave at a mutually agreeable time or of withdrawing from the Plan and having the deferred salary, plus accrued interest, if any, paid out to the employee within a reasonable period of timeCurrent interest earned.
(nc) The employee will be reinstated Total contributions to their former position unless the position has been discontinued, in which case the employee shall be given a comparable jobdate.
(od) Final approval for entry into the pre-paid leave program will be subject Total interest to the employee entering into a formal agreement with the University in order to authorize the University to make the appropriate deductions from the employee's pay. Such agreement will include:
i) A statement that the employee is entering the pre-paid leave program in accordance with Article 12.15 of the Collective Agreementdate.
ii) The period of salary deferral and the period for which the leave is requested.
iii) The manner in which the deferred salary is to be held. The letter of application from the employee to the Employer to enter the pre-paid leave program will be appended to and form part of the written agreement.
(p) In the event that the self-funded leave plan, as described in this Article or in the formal agreement with the employee, conflicts with the Income Tax
Appears in 1 contract
Samples: Collective Agreement
Self-Funded Leave Plan. Regular full-time and regular part-time employees are eligible 26.01 The Self Funded Leave Plan has been developed to access afford Employees the self- funded leave plan established by the University, subject opportunity of taking up to the following terms and conditions:
(a) The plan is available to employees wishing to spread four (4) years' salary over a five (5) year period, in accordance with Part LXVIII of the Income Tax Regulations, Section 6801, to enable them to take a one (1) year leave of absence following and, through deferral of salary, to finance the four (4) leave subject to the regulations under the Income Tax Act.
26.02 To be eligible to participate in the plan, an Employee must have three years of salary deferralservice with the Board.
(b1) An Employee must make a written application to the Director of Education on or before March 31 requesting approval to participate in the plan.
(2) On or before April 30, the Director of Education or designate shall reply in writing stating whether or not the application has been approved and providing an explanation if the application is denied.
(3) The purpose right to reject or approve individual requests to participate in the plan will rest solely with the Board.
(1) In each year of the plan is Plan preceding the year of the leave, an Employee shall be paid 80% of annual salary. The remaining 20% of annual salary shall be deferred and deposited to a joint trust fund at the Employer’s banking institution with an account heading "Bluewater District School Board In Trust for (name of Employee)". The amount deposited to this account will be retained for the Employee to finance the year of the leave. Interest will be retained and paid out at the end of the calendar year. Consideration will be given to a request for a leave to be financed by deduction of absencea larger amount of salary over a shorter period of time. It is For example, deduct for three years to finance a leave in the fourth year or deduct for two years to finance a leave in the third year. The length of the Plan shall not intended to help fund a retirement or other permanent separation from exceed six years, including the Universityyear of the leave. Upon completing The scheduled year of leave will only be taken in the last year of the Plan.
(2) At the start of the leave of absence, the Employee must return amount deposited to the University Employee account plus accrued interest to that date shall be transferred to the general account of the Bluewater District School Board to pay the Employee’s salary, and no further interest shall be earned.
(3) At least four (4) weeks prior to the start of the Leave, the participating Employee shall select one
(1) of the following methods of salary payment for a period equal the one (1) year Leave:
(a) A lump sum payment of the entire trust account balance on or before the commencement of the Leave less an amount sufficient to pay the cost of all taxes, pension amounts and Benefit Plans, as per Article 30, while on Leave.
(b) Forty percent (40%) of salary on or greater than before September 20 and sixty percent (60%) of salary on or before January 20. Payment on January 20 shall include the duration total amount on deposit together with interest earned up to and including that date.
(c) Payment as per method detailed in the collective agreement in force at the time.
(1) While an Employee is enrolled in the Plan and not on leave, and subject to the approval of the carrier, any salary-related benefits shall be maintained at the same level as if the Employee was receiving 100% of salary. While on leave, benefits shall continue in force, subject to the approval of the carrier. Salary-related benefits shall be maintained according to the salary the Employee would have received in the year prior to taking the leave had the Employee not been enrolled in the Plan, and subject to the approval of the carrier.
(2) While on leave, the total premium cost for all Benefits Plans, as per Article 30 shall continue in force.
(1) Upon return from leave, the Employee shall be entitled to sick leave credits accumulated prior to commencement of the leave but no sick leave credits may be earned during the leave.
(c2) The employee Employees on permanent layoff must make written application withdraw from the Plan.
(3) A Employee may withdraw from the Plan any time up to the Department Head/designate at least six sixty (660) months days prior to the intended commencement date of the program (i.e. the salary deferral portion), stating the intended purpose of the leave.
(d) Written applications will be reviewed by the Department Head/designate. Leaves requested for the purpose of pursuing further formal nursing education will be given priority. Applications for leaves requested for other purposes will be given the next level of priority on the basis of seniority.
(e) Initial approval must be given by the Department Head and final approval given by the appropriate Xxxx or Vice-Principal. Denial at either stage shall not be considered a violation of the agreement. However, approval will not be unreasonably denied.
(f) During the four (4) years of salary deferral, 20% of the employee's gross annual earnings will be deducted and held for the employee and will not be accessible to them until the year of the leave or upon withdrawal from is to be taken. Any exceptions to the plan.
(g) During the leave, the individual may not be employed by the University in any capacity, even if that employment is casual and unrelated to their normal duties.
(h) The manner in which the deferred salary is held aforesaid shall be at the discretion of the EmployerBoard.
(i4) All In the event of withdrawal, the Employee shall be paid a lump sum adjustment for any monies deferred salary, to the date of withdrawal plus accrued interest. Repayment shall be made within sixty (60) days of the date of withdrawal. The lump sum adjustment may be paid to the Employee in some other manner and on some other date or dates as mutually agreed between the Employee and the Board.
(5) Should an Employee die while participating in the Plan, if any, any monies accumulated plus interest accrued at the time of death shall be paid to the employee at the commencement of the leave or in accordance with such other payment schedule as may be agreed upon between the Employer and the employeeEmployee’s estate.
(j6) All benefits shall be kept whole during the four (4) years of salary deferral. During the year of the leave, seniority will accumulate. Service for the purpose of vacation and salary progression and other benefits will be retained but will not accumulate during the period of leave. If an individual becomes ill, no sick leave will be charged during the duration of the leave - sick leave will commence on the individual's return date. Employees shall become responsible for the full payment of premiums for any health and welfare benefits in which they are participating. Contributions to the University’s Pension Plan will be in accordance with the Plan. Employees will not be eligible wishing to participate in the disability income plan during Plan shall be required to sign a contract supplied by the year of leaveBoard before final approval for participation shall be granted.
(k7) An employee may withdraw from The Board shall co-operate in making such pension deductions as are requested by the plan at any time during Employee and approved by OMERS.
(8) Income Tax shall be deducted on the deferral portion provided three (3) months notice is given actual amounts paid to the Department Head and Employee during each year of the Plan Administrator in writing. Deferred salaryself funded leave plan, plus accrued interest, if any, will be returned subject to the employee, within a reasonable period of income tax regulations in effect at that time.
(l9) If Every Employee participating in the employee terminates employment, the deferred salary held by the Employer plus accrued interest, if any, will be returned to the employee within Self Funded Leave Plan shall receive a reasonable period of time. In case semiannual review statement copy of the employee's death, SFLP trust account by January 1 and June 30 of each year indicating the funds will be paid to the employee's estatefollowing:
(a) Current contribution.
(mb) The Employer will endeavour to find a temporary replacement for the employee as far in advance as practicable. If the Employer is unable to find a suitable replacement, it may postpone the leave. The Employer will give the employee as much notice as is reasonably possible. The employee will have the option of remaining in the Plan and rearranging the leave at a mutually agreeable time or of withdrawing from the Plan and having the deferred salary, plus accrued interest, if any, paid out to the employee within a reasonable period of timeCurrent interest earned.
(nc) The employee will be reinstated Total contributions to their former position unless the position has been discontinued, in which case the employee shall be given a comparable jobdate.
(od) Final approval for entry into the pre-paid leave program will be subject Total interest to the employee entering into a formal agreement with the University in order to authorize the University to make the appropriate deductions from the employee's pay. Such agreement will include:
i) A statement that the employee is entering the pre-paid leave program in accordance with Article 12.15 of the Collective Agreementdate.
ii) The period of salary deferral and the period for which the leave is requested.
iii) The manner in which the deferred salary is to be held. The letter of application from the employee to the Employer to enter the pre-paid leave program will be appended to and form part of the written agreement.
(p) In the event that the self-funded leave plan, as described in this Article or in the formal agreement with the employee, conflicts with the Income Tax
Appears in 1 contract
Samples: Collective Agreement
