Withdrawal from the Plan. (a) An employee may withdraw from the Plan any time prior to taking the leave of absence. Upon withdrawal, all the deferred salary plus accumulated interest shall be paid to the employee within sixty (60) days of notification of withdrawal from the Plan.
(b) In the event that a suitable replacement cannot be obtained for an employee who has been granted leave, the Employer may defer the year of leave or portion thereof. In this instance, an employee may choose to remain in the Plan or she may withdraw and receive all the deferred salary plus accumulated interest to the date of withdrawal. Repayment shall be made within sixty (60) days of the date of withdrawal from the Plan.
(c) Should an employee die while participating in the Plan, all the deferred salary plus accumulated interest at the time of death shall be paid to the employee's beneficiary.
(d) An employee who has had her employment terminated by the Employer shall be required to withdraw and shall be paid all deferred salary plus accumulated interest to the date of withdrawal. Repayment shall be made within sixty (60) days of the date of withdrawal from the Plan.
Withdrawal from the Plan. 1. An employee may withdraw from the Plan, at any time, prior to the commencement of the leave.
2. Within 60 days of the withdrawal from the plan, the employee shall be paid the full amount of deferred salary, less any statutory deductions, plus all accrued and previously unpaid interest.
3. Should and employee die while participating in the plan, any monies accumulated, plus accrued and unpaid interest, shall be paid to the employee’s estate.
Withdrawal from the Plan. 11.11.9.1 A participant who ceases to be employed by the College must withdraw from the Plan. Also, under extenuating circumstances, a participant may withdraw from the plan upon giving at least one (1) month's notice of intent to do so. In both cases, the College shall immediately seek redemption from the investor of all monies held on behalf of the participant, and upon receipt, shall remit the full amount to the participant.
11.11.9.2 In the event of the death of a participant and upon notice by the executor, the Employer shall pay to the participant's estate the full deferred compensation amount plus accrued interest, subject to the College receiving any necessary clearances and proofs normally required in such situations.
11.11.9.3 Participants may, on one occasion, suspend their participation in the plan for a period of not less than six (6) months, or not more than twelve (12) months. When the period of suspension ceases, the participant shall be reinstated in the plan on the first day of the following month.
Withdrawal from the Plan. With the consent of the joint Committee, a participant may withdraw from the plan upon giving written notice of withdrawal not less than six (6) months prior to the date on which the leave of absence is to commence.
Withdrawal from the Plan. If a Teacher wishes to withdraw from the Plan, written notice of withdrawal shall be given to the Director of Education. Payment of any monies and accumulated interest shall be paid, subject to statutory deductions, within ten (10) working days of the receipt of the letter of withdrawal.
Withdrawal from the Plan. A participant may, with the approval of the Employer, withdraw from the Plan in unusual or extenuating circumstances (e.g. financial hardship or serious illness). Requests for withdrawal must be submitted in writing to the Director of Human Resources, detailing the reason(s) for withdrawal, as soon as possible prior to commencement of the leave. The Employer shall maintain the request and its approval as part of the Employer records. When a request for withdrawal is approved, the Employer shall pay to the employee a lump sum equal to monies deferred plus interest accrued to the date of withdrawal from the Plan. Payment shall be as soon as possible, but must be made within thirty (30) days of approval of withdrawal from the Plan.
Withdrawal from the Plan. 1. For extenuating circumstances, a Teacher may withdraw from the Plan. Notification, in writing, must be received and approved by the Human Resource Services Office at least sixty (60) days prior to the effective date of withdrawal from the Plan.
2. Any teacher declared redundant will be required to withdraw from the Plan.
3. Upon withdrawal, all the salary and allowances deferred plus accrued interest in the individual account shall be paid to the teacher with the necessary deductions being made in accordance with the requirements of Revenue Canada and other regulatory bodies. Payment shall be made as soon as possible but within sixty (60) days after receiving notification of withdrawal.
4. If a teacher retires, is dismissed, redundant, or terminated or otherwise leaves active employment with the Board while participating in the Plan, the teacher shall be paid such lump sum and interest accrued up to the date of the retirement, dismissal, redundancy, termination or leave as the case may be with the necessary deductions being made in accordance with the requirement of Revenue Canada and other regulatory bodies.
5. The payment will be made as soon as possible but within sixty (60) days of written notice by either party of any one of the above conditions.
6. Should a teacher die while participating in the Plan, any monies accumulated in the individual account plus accrued interest will be paid to the estate of the deceased teacher with the necessary deductions being made in accordance with the requirements of Revenue Canada and other regulatory bodies. The payment will be made as soon as possible but within sixty (60) days of written notice from the executor of the estate.
Withdrawal from the Plan. 5.1 A Participant who ceases to be employed by the Federation must withdraw from the plan. Within 60 days the Federation shall pay to the Participant the Deferred Compensation Amount.
5.2 In extenuating circumstances, such as financial hardship, and with the consent of the Federation, the Participant may withdraw from the plan upon giving not less than one- month notice of intent to do so. Within 30 days of such withdrawal, the Federation shall pay to the Participant the Deferred Compensation Amount.
5.3 Should the Participant die, the Federation shall, within 30 days of notification of such death to the Federation, pay the Deferred Compensation Amount to the Participant’s estate, subject to the Federation receiving the necessary clearances and proofs normally required for payment to estates.
Withdrawal from the Plan. (a) A Teacher may withdraw from the Plan any time prior to April 15 of the calendar year prior to the period in which the leave is to be taken. Upon withdrawal, all the deferred salary plus accumulated interest shall be paid to the Teacher within sixty (60) days of notification of withdrawal from the Plan.
(b) In the event that a suitable replacement cannot be obtained for a Teacher who has been granted leave, the Employer may defer the period of leave. In this instance, a Teacher may choose to remain in the Plan or he/she may withdraw and receive all the deferred salary plus accumulated interest to the date of withdrawal. Repayment shall be made within sixty (60) days of the date of withdrawal from the Plan.
(c) Should a Teacher die while participating in the Plan, all the deferred salary plus accumulated interest at the time of death shall be paid to the Teacher’s estate.
(d) A Teacher who has had his/her contract terminated under the Education Act shall be required to withdraw and shall be paid all deferred salary plus accumulated interest to the date of withdrawal. Repayment shall be made within sixty (60) days of the date of withdrawal from the Plan.
Withdrawal from the Plan. (i) A participant may withdraw from the plan in unusual or extenuating circumstances; (e.g. financial hardship or serious illness). Request for withdrawal must be submitted in writing to the executive director, detailing the reason(s), as soon as possible prior to the withdrawal from the plan.
(ii) When a request for withdrawal is approved, or in termination of employment, the employer shall pay to the employee a lump sum equal to monies deferred plus interest accrued to the date of payment. Payment shall be as soon as possible and must be made within thirty (30) days of approval of withdrawal from the plan, or of termination of employment, as applicable.
