Administrative and Legislative Changes Sample Clauses

Administrative and Legislative Changes. During the term of this Labour Agreement, the Company will be making certain administrative changes to the pension plan regarding the way management responsibilities are carried out. These changes in no way affect the participant's benefits nor affect the responsibilities of the Pension Committee. Certain changes are required from time to time as a result of Federal and/or Provincial legislation in the pension area. Our pension plan texts are reviewed on a periodic basis and where necessary changes are made to meet current legislation. The Company agrees to discuss changes in the pension text with the pension committee recognizing that any changes required by law will be complied with by the Company.
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Administrative and Legislative Changes. During the term of this Labour Agreement, the Company will be making certain administrative changes to the pension plan regarding the way management responsibilities are carried out. These changes in no way affect the participant's benefits nor affect the responsibilities of the Pension Committee. Certain changes are required from time to time as a result of Federal and/or Provincial legislation in the pension area. Our pension plan texts are reviewed on a periodic basis and where necessary changes are made to meet current legislation. The Company agrees to discuss changes in the pension text with the pension committee recognizing that any changes required by law will be complied with by the Company. The Traditional plan design is presented below: Pension (see notes) Benefits Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 (Effective May 1, except when specified otherwise) Formula % 1.70 % 1.75 % Post- retirement adjustment* (January 1) CPI x 50%, Max: 5%(see note 2) x x x x X *For retirements after May 1,1984 Employee Contributions 6% from Jan 01 6% 6% to April 30 6.5% from May 01 6.5% to April 30 7% from May 01 7% to April 30 7.5% from May 01 7.5% 7.5% 7.5% 7.5% Note 1: Pension amendments will be implemented in two steps. The plan will be first amended in 2005 and this first amendment will cover changes occurring between Jan. 1st, 2005 and Dec. 31st, 2008 including indexation in 2005 and 2007. A second amendment will be made in 2009 and will cover changes taking place between January 1st, 2009 and April 30th, 2014 including indexation in 2009, 2011 and 2013. To be effective, these amendments must comply with laws and regulations in effect when filings are made. Note 2: The pension adjustment formula is based on the Consumer Price Index for the 12-month period ending in October of the preceding year (rounded to the nearest tenth of one per cent), subject to a maximum 5% adjustment. For calculation purposes, the Consumer Price Index means the all-items index (1992=100, or if not available, the latest series available) published by Statistics Canada.
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Related to Administrative and Legislative Changes

  • Legislative Changes ‌ If the premium paid by the Employer for any employee benefit stipulated in this agreement is reduced as a result of any legislative or other action by the government of British Columbia, the amount of the saving shall be used to increase other benefits available to the employees, as may be mutually agreed to between the parties.

  • LEGISLATIVE CHANGE 1. In this article, “legislation” means any new or amended statute, regulation, Minister’s Order, or Order in Council which arises during the term of the Collective Agreement or subsequent bridging period.

  • Notice of Legislative Change The BC Public Service Agency agrees that no proposal to amend, repeal, or revise the Public Service Labour Relations Act, the Public Service Act, or regulations made pursuant thereto, which would affect the terms and conditions of employment of employees covered by this Agreement shall be put forward without first notifying the Union in writing of the nature of the proposal.

  • Implementation Legislation The Contracting Parties shall enact any legislation necessary to comply with, and give effect to, the terms of the Agreement.

  • Legislative or Judicial Changes In the event the scope or extent of the City’s tort liability as a governmental entity as described in Section 537.600 through 537.650 RSMo is broadened or increased during the term of this agreement by legislative or judicial action, the City may require Contractor, upon 10 days written notice, to execute a contract addendum whereby the Contractor agrees to provide, at a price not exceeding Contractor’s actual increased premium cost, additional liability insurance coverage as the City may require to protect the City from increased tort liability exposure as the result of such legislative or judicial action. Any such additional insurance coverage shall be evidenced by an appropriate certificate of insurance and shall take effect within the time set forth in the addendum.

  • LEGISLATIVE APPROVAL 33.01 It is agreed by and between the parties that any provision of this Agreement requiring legislative action to permit its implementation by amendment of law or by providing the additional funds therefore, shall not become effective until the appropriate legislative body has given its approval.

  • LEGISLATIVE AUTHORITY Halifax Regional Municipality Charter (HRM Charter), Part VIII, Planning & Development. RECOMMENDATION It is recommended that Halifax and West Community Council:

  • Regulatory and Legal Changes The parties acknowledge that the respective rights and obligations of each party as set forth in this Agreement upon its execution are based on law and the regulatory environment as it exists on the date of execution of this Agreement. Comcast may, in its sole discretion, immediately terminate this Agreement, in whole or in part, in the event there is a material change in any law, rule, regulation, Force Majeure event, or judgment of any court or government agency, and that change affects Comcast’s ability to provide the Services herein.

  • Legislative Action Section 1. Provisions of this Agreement not requiring legislative funding, or statutory changes, before such provisions can be put into effect, shall be implemented on the effective date of this Agreement or as otherwise specified herein.

  • Impact of Legislation (a) The parties recognize and agree that they cannot be obligated or bound by any term, condition or provision, which would be contrary to any existing federal or provincial legislation or regulations passed pursuant thereto. In the event that any term, condition or provision, or part thereof, which is incorporated into this Agreement, whether by inadvertence, error or misunderstanding, is in fact or in law contrary to such federal or provincial legislation or regulation, then such term, condition or provision or part thereof, is void and of no effect.

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