Trent Pension Plan Sample Clauses

Trent Pension Plan. Members of the Plan who terminate employment with the University are entitled to termination benefits as outlined in the Pension Plan text.
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Trent Pension Plan. ‌ It is understood and agreed by the parties that the Contributory Pension Plan for OPSEU and Exempt Employees of Trent University" (Amended July 1, 2001) as amended from time to time, forms part of this Collective Agreement and, insofar as it relates to members of the OPSEU bargaining unit, may only be altered or amended by mutual agreement of both parties. Copies of the Plan text, as well as additional information about its provisions, are available to any member of the Plan, upon request, through the Department of Human Resources. By way of summary, staff members who participate will contribute 9% of pensionable earnings until June 30, 2020 at 11:58pm, effective June 30, 2020 at 11:59pm staff members will contribute 9.8% of pensionable earnings. The University contributes required amounts in accordance with Appendix XIII (Items 5 and 6). Pension benefits, which are entirely separate from Canada Pension Plan entitlements, provide for an annual pension commencing at Normal Retirement Date (the first day of the month coincident with or next following the date the member attains age 65) equal to 2% of final average earnings times the number of years of service. Effective July 1, 2013, final average earnings are determined by calculating the average of the best consecutive five (5) of the last ten (10) years of the member's earnings at the University. In no event, should the average earnings be less than the average of the highest three consecutive years out of the last ten years as of June 30, 2013. Additional pensionable earnings shall include hours worked by part-time or recurring employees beyond the base hours of their regular position to a maximum of the full- time equivalent. It does not include additional contract positions.
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Trent Pension Plan. It is understood and agreed by the parties that the Contributory Pension Plan for OPSEU and Exempt Employees of Trent University" (Amended July 1, 2001) as amended from time to time, forms part of this Collective Agreement and, insofar as it relates to members of the OPSEU bargaining unit, may only be altered or amended by mutual agreement of both parties. Copies of the Plan text, as well as additional information about its provisions, are available to any member of the Plan, upon request, through the Department of Human Resources. By way of summary, staff members who participate will contribute 6.5% of pensionable earnings. The University contributes required amounts in accordance with Appendix VII (Items 5 and 6). Pension benefits, which are entirely separate from Canada Pension Plan entitlements, provide for an annual pension commencing at Normal Retirement Date (the first day of the month coincident with or next following the date the member attains age 65) equal to 2% of final average earnings times the number of years of service. Final average earnings are determined by calculating the average of the best consecutive three
Sample 1Sample 2See All (4)
Trent Pension Plan. It is understood and agreed by the parties that the Contributory Pension Plan for OPSEU and Exempt Employees of Trent University" (Amended July 1, 2001) as amended from time to time, forms part of this Collective Agreement and, insofar as it relates to members of the OPSEU bargaining unit, may only be altered or amended by mutual agreement of both parties. Copies of the Plan text, as well as additional information about its provisions, are available to any member of the Plan, upon request, through the Department of Human Resources. By way of summary, staff members who participate will contribute at 6% of pensionable earnings to December 31, 2007 and at 6.5% of pensionable earnings thereafter. The University contributes required amounts in accordance with Appendix VII (Items 5 and 6). Pension benefits, which are entirely separate from Canada Pension Plan entitlements, provide for an annual pension commencing at Normal Retirement Date (the first day of the month coincident with or next following the date the member attains age 65) equal to 2% of final average earnings times the number of years of service. Final average earnings are determined by calculating the average of the best consecutive three (3) of the last ten (10) years of the member's earnings at the University. Additional pensionable earnings shall include hours worked by part­time or recurring employees beyond the base hours of their regular position to a maximum of the full­time equivalent. It does not include additional contract positions.
Sample 1
Trent Pension Plan. [* Subject to change as per Appendix II] The Pension Plan in place for eligible staff members at the University is entitled the "Contributory Pension Plan for Permanent Employees of Trent University". It is understood and agreed by the parties that the Pension Plan, as amended from time to time, forms part of this Collective Agreement and, insofar as it relates to members of the OPSEU bargaining unit, may only be altered or amended by mutual agreement of both parties and the Pension Committee. Copies of the Plan text, as well as additional information about its provisions, are available through the Department of Human Resources. By way of summary, staff members who participate contribute 5.25% of pensionable earnings, and the University contributes such amounts as are required in accordance with Plan provisions and an annual actuarial valuation. Pension benefits, which are entirely separate from Canada Pension Plan entitlements, provide for an annual pension commencing at Normal Retirement Date (the July 1st or December 31st following a member's 65th birthday) equal to 2% of final average earnings times the number of years of service. Final average earnings are determined by calculating the average of the best consecutive three (3) of the last ten (10) years of the member's earnings at the University. In accordance with the Pension Plan provisions and Ontario Pension laws, various options exist for those who retire at Normal Retirement Date, as well as for those who terminate service at Trent prior to Normal Retirement Date. There are also provisions in the Plan governing early retirement. Interested staff members should contact the Department of Human Resources for further information.
Sample 1
Trent Pension Plan. Staff members terminating service at the University before retirement may elect either: a taxable cash refund equivalent to twice their required contributions plus interest; transfer to another registered pension plan or registered retirement savings plan (RRSP) an amount equivalent to twice their required contributions plus interest; or a deferred pension payable at normal retirement date, together with any termination benefits from the previous pension plan which expired on June 30, 1969. However, under the requirements of the Pension Commission of Ontario, if a member has ten (10) years of service at Trent, and is age 45 or over, a refund of contributions made prior to January 1, 1987 is not permissible, nor is a transfer to another registered pension plan or a RRSP unless the receiving plan will guarantee that the funds will be locked in for the purpose of providing a pension at normal retirement date. If a member has more than two (2) years of service, a refund of contributions made after December 31, 1986, is not permissible.
Sample 1
Trent Pension Plan. It is understood and agreed by the parties that the Contributory Pension Plan for OPSEU and Exempt Employees of Trent University" (Amended July 1, 2001) as amended from time to time, forms part of this Collective Agreement and, insofar as it relates to members of the OPSEU bargaining unit, may only be altered or amended by mutual agreement of both parties. Copies of the Plan text, as well as additional information about its provisions, are available to any member of the Plan, upon request, through the Department of Human Resources. By way of summary, staff members who participate will contribute 9% of pensionable earnings effective July 1, 2015. The University contributes required amounts in accordance with Appendix VI (Items 5 and 6). Pension benefits, which are entirely separate from Canada Pension Plan entitlements, provide for an annual pension commencing at Normal Retirement Date (the first day of the month coincident with or next following the date the member attains age 65) equal to 2% of final average earnings times the number of years of service. Effective July 1, 2013, final average earnings are determined by calculating the average of the best consecutive five (5) of the last ten (10) years of the member's earnings at the University. In no event, should the average earnings be less than the average of the highest three consecutive years out of the last ten years as of June 30, 2013. Additional pensionable earnings shall include hours worked by part-time or recurring employees beyond the base hours of their regular position to a maximum of the full- time equivalent. It does not include additional contract positions.
Sample 1
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Trent Pension Plan. The Pension Plan in place for eligible staff members at the University is entitled the “Contributory Plan for Permanent Employees of Trent University”. It is and agreed by the parties that the Pension Plan, as amended from time o time, forms part of this Collective Agreement and, insofar as it relates to members of the bargaining unit, may only be altered or mended by mutual agreement of both parties and the Pension Committee. Copies of the Plan text, as well as additional information about its provisions, are available through the Department of Human Resources. By way of summary, staff members who participate contribute of pensionable earnings, and the University contributes such amounts as are required in accordance with Plan provisions and an annual actuarial valuation. Pension benefits, which are entirely separate from Canada Pension Plan entitlements, provide for an annual pension commencing at Normal Retirement Date (the July 1st or December following a member's 65th birthday) equal to of final average earnings times the number of years of service. Final average earnings are determined by calculating the average of the best consecutive three (3) of the last ten
Sample 1

Related to Trent Pension Plan

  • Canada Pension Plan All employees shall participate in and contribute to the Canada Pension Plan in accordance with the applicable legislation. The College will contribute to the plan for each employee, to the extent provided for in the applicable legislation.

  • Municipal Pension Plan (i) All newly hired regular employees shall participate under the Municipal Pension Plan, subject to the terms and conditions of such Plan, from their initial date of hire as a regular employee.

  • Defined Benefit Pension Plan 1. The Employer and the Union hereby agree to the continuation of the existing Northern California Glaziers, Architectural Metal and Glass Workers Pension Trust Agreement ("Defined Benefit Pension Trust").

  • Oregon Public Service Retirement Plan Pension Program Members For purposes of this Section 2, “employee” means an employee who is employed by the State on or after August 29, 2003 and who is not eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Pension Plan 15.01 The CLAC Pension Plan (“the Plan”), a defined contribution pension plan, is registered with the Canada Revenue Agency. The Plan applies to all employees covered by this Agreement.

  • Retirement Credit Retirement credit for such periods of leave without pay shall be governed by the rules and regulations of the Division of Retirement and the provisions of Chapter 121, Florida Statutes.

  • Benefit Accrual Seniority, for the purpose of vacation, pension and sick leave accrual shall be based upon an employee’s continuous length of service with WSF. Seniority, for the purpose of all other benefit accrual, shall be by bargaining unit-wide seniority based upon an employee’s continuous length of service or adjusted length of service within the bargaining unit.

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.1.

  • Retirement and Pension Account A retirement or pension account maintained in Singapore that satisfies the following requirements under the laws of Singapore.

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