Self-Funded Leave. 30.1 An employee may apply to participate in the self funded leave plan as permitted under the Income Tax Act (Canada) in order to defer pre-tax salary dollars to fund a leave of absence. The deferral period must be at least one (1) year and not more than four (4) years. 30.2 The funds being deferred will be held in a trust account with the financial institution the Employer selects, with interest being paid annually. The funds will be paid out to the employee on a monthly or lump sum basis during the leave of absence. 30.3 Notwithstanding Article 32.5 (Coverage of LOA without pay), during the leave the employee's insured benefits will be continued where the employee continues to pay for his/her portion. 30.4 On return from the leave, an employee shall return to the position held immediately prior to going on leave and shall be paid at the relative position within the salary range that he/she had attained when the leave commenced. If the position no longer exists, the employee shall be assigned to a position at the same class and level. 30.5 Details of the self funded leave are contained in the information booklet described in Article 32.9.
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Samples: Collective Agreement, Collective Agreement, Collective Agreement
