Shared Risk Plan definition
Examples of Shared Risk Plan in a sentence
The Plan was so revised and converted to the Shared Risk Plan for CUPE Employees of New Brunswick Hospitals (“CUPE Shared Risk Plan”) effective July 1, 2012.
An employee shall be required to contribute to the New Brunswick Public Service Shared Risk Plan in accordance with the terms of the Plan, and shall be entitled to the benefits provided by that Plan.
Eligibility to contribute to the Public Service Shared Risk Plan (PSSRP) will be determined by Provincial Legislation.
The trust that was in existence on the conversion of the CBE Hospital Plan to the CBE Shared Risk Plan as administered by the CBE Plan Pension Committee is hereby confirmed to continue notwithstanding the replacement of the CBE Plan Pension Committee by the Board of Trustees.
The Trustees shall also maintain on a current basis all information necessary for the actuarial studies required to be made from time to time in connection with the CBE Shared Risk Plan and Fund.
The Fund has been continued and the Trustees agree to administer it for the purpose of providing retirement and related benefits for Members and their beneficiaries in accordance with the CBE Shared Risk Plan, the Pension Benefits Act and the Funding Policy and for no other purpose.
The initially appointed ten (10) Trustees shall take office on the Effective Date, at which time the CBE Plan Pension Committee shall cease to act as trustees for the CBE Shared Risk Plan.
This Agreement may be modified or amended in any respect from time to time by the Board of Trustees, in such manner as the Board of Trustees deems advisable in carrying out the purposes of this Agreement and the CBE Shared Risk Plan, subject to the restrictions set forth in Section 5.4.
Effective October 8 2021, Licensed Practical Nurses under the Nurses, Part III Bargaining Unit shall cease contributing under the Shared Risk Plan for CUPE Employees of New Brunswick Hospitals (the “CUPE Hospitals SRP”) and shall commence contributing to the Shared Risk Plan for Certain Bargaining Employees of New Brunswick Hospitals (the “CBE SRP”) contingent upon the eligibility provisions under that plan.
The Board of Trustees hereby confirms the adoption of the CBE Shared Risk Plan and the Funding Policy.