Common use of Trent Pension Plan Clause in Contracts

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

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 6.56.0% of pensionable earnings. The , and the University contributes such amounts as are required amounts in accordance with Appendix VII (Items 5 Plan provisions and 6)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 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 threeage

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. 56 By way of summary, staff members who participate will contribute 6.56.0% of pensionable earnings. The , and the University contributes such amounts as are required amounts in accordance with Appendix VII (Items 5 Plan provisions and 6)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 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 threethree (3) of the last ten (10) years of the member's earnings at the University.