Contribution Holidays Sample Clauses

Contribution Holidays. The University agrees that should the Retirement Plan reach full funding status during the term of the agreement it will not take contribution holidays, unless otherwise prescribed by legislation. University Pension Plan (UPP) & the Retirement Pension Plan It is recognized that discussions are underway with respect to the UPP (University Pension Plan) initiative with the objective of forming a multi-employer JSPP (Jointly Sponsored Pension Plan), within the sector. The above contributions will be subject to change should there be a ratification of a JSPP proposal by plan members including CUPE Local 3913 and the University.
Sample 1
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Contribution Holidays. The University agrees that should the Retirement Plan reach full funding status during the term of the Agreement it will not take contribution holidays, unless otherwise prescribed by legislation. University Pension Plan (UPP) & the Retirement Pension Plan It is recognized that discussions are underway with respect to the UPP initiative with the objective of forming a multi-employer Jointly Sponsored Pension Plan (JSPP), within the sector. The above contributions will be subject to change should there be a ratification of a JSPP proposal by plan members including CUPE Local 1334 Unit 1 and the University. The language will remain in effect until the UG Conversion date at which time it will be deleted as per The LOA Related to the Union’s Consent to the Conversion to the UPP.
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Contribution Holidays. The University agrees that should the Retirement Plan reach full funding status during the term of the Collective Agreement it will not take contribution holidays, unless otherwise prescribed by legislation.
Sample 1
Contribution Holidays. The University agrees that should the Retirement Plan reach full funding status during the term of the agreement it will not take contribution holidays, unless otherwise prescribed by legislation. University Pension Plan (UPP) & the Retirement Pension Plan It is recognized that discussions are underway with respect to the UPP (University Pension Plan) initiative with the objective of forming a multi-employer JSPP (Jointly Sponsored Pension Plan), within the sector. The above contribution above will be subject change should there be the ratification of a JSPP proposal by plan members including CUPE Local 3913 and the University. SIGNED on August 18, 2020, at Guelph, Ontario.
Sample 1
Contribution Holidays. This Policy features contribution holidays, which allows flexibility to the Policyholder either not to pay in any Policy Year, provided the balance amount in the IPA does not fall below Rs. 1,00,000/-. In the event of the minimum required Regular Contribution not being paid for two consecutive years and the balance in the IPA falling below Rs. 1,00,000/-, the Policy shall stand terminated/foreclosed in accordance with Clause 4.8 herein below.
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Contribution Holidays. The parties agree that they will jointly approach the Government of Ontario to amend the Power Corporation Act to permit the Corporation to take contribution holidays from April 1, 1998 to the earlier of the date the collective agreement expires or the date subsection 22(4) of the Power Corporation Act is repealed.
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Contribution Holidays. Contributions or premiums payable to the Retirement Benefit Arrangements (except the Xxxxxx Xxxxx Group Pension Scheme (UK) and the Stichting Pensioenfonds Xxxxxxxx (NL)) have been and are being paid at or above the full amount required by local law and in accordance with the governing documentation of the relevant Retirement Benefit Arrangement and are not discounted, either fully or partially due to surplus in that or any other Retirement Benefit Arrangement or otherwise. These contributions or premiums are fully reflected in the Relevant Accounts
Sample 1
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Contribution Holidays. The University agrees that should the Retirement Plan reach full funding status during the term of the agreement it will not take contribution holidays, unless otherwise prescribed by legislation. University Pension Plan (UPP) & the Retirement Pension Plan It is recognized that discussions are underway with respect to the UPP (University Pension Plan) initiative with the objective of forming a multi-employer JSPP (Jointly Sponsored Pension Plan), within the sector. The above contribution above will be subject change should there be the ratification of a JSPP proposal by plan members including CUPE Local 3913 and the University. CUPE 1334 Pension Benefits During the term of this agreement, should the University reach a signed agreement with CUPE 1334 that provides for annual increases to pension payments indexed to CPI for members of CUPE 1334, the University agrees to adjust the pension benefits provided to CUPE 3913 members to match. SIGNED on February 25, 2017, at Guelph, Ontario.
Sample 1
Contribution Holidays 
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Related to Contribution Holidays

  • Deductions from Sick Leave A deduction shall be made from accumulated sick leave of all normal working days (exclusive of holidays) absent for sick leave.

  • Vacation Leave on Retirement ‌ An employee scheduled to retire and to receive pension benefits under the Public Service Pension Plan Rules or who has reached the mandatory retiring age, shall be granted full vacation entitlement for the final calendar year of service.

  • Recall from Vacation Leave Where, during any period of vacation leave, an employee is recalled to duty, such employee shall be reimbursed for reasonable expenses, as normally defined by the Employer, that such employee incurs:

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

  • Retirement Contribution The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications. Corrections Firearms Instructor Oil & Hazardous Material Responder I Oil & Hazardous Material Responder II

  • Sick Leave Separation Cash Out ‌ At the time of retirement from state service or at death, an eligible employee or the employee’s estate will receive cash for their compensable sick leave balance on a one (1) hour for four (4) hours basis. For the purposes of this Section, retirement will not include “vested out of service” employees who leave funds on deposit with the retirement system.

  • Vacation Year The vacation year shall be April 1 to March 31, inclusive.

  • Sick Leave Cash Out Eligible employees may elect to receive monetary compensation for accrued sick leave as follows: In January of each year an employee whose sick leave balance at the end of the previous year exceeds four hundred eighty (480) hours may elect to convert the sick leave hours earned in the previous calendar year, minus those hours used during the year, to monetary compensation. No sick leave hours may be converted which would reduce the calendar year end balance below four hundred eighty (480) hours. Monetary compensation shall be paid at the rate of twenty-five percent and shall be based on the employee’s current salary. All converted hours will be deducted from the sick leave balance. Employees who separate from University service due to retirement or death shall be compensated for the unused sick leave accumulation from the date of most recent hire in a leave eligible position with the State of Washington at the rate of 25%. Compensation shall be based upon the employee’s wage at the time of separation. For the purpose of this section, retirement shall not include vested out of service employees who leave funds on deposit with the retirement system. Former eligible employees who are re-employed within three (3) years of their separation from service shall be granted all unused sick leave credits, if any, to which they are entitled at time of separation.

  • Vacation Leave Accrual ‌ After a full-time employee has been in pay status for eighty (80) non-overtime hours in a calendar month, the employee will accrue vacation leave according to the rate schedule below. Vacation leave accrual for part-time employees will be proportionate to the number of hours the part-time employee is in pay status during the month to that required for full-time employment.

  • Annual Leave Accrual If an employee leaves State Classified employment and is later rehired, he/she shall accrue annual leave at the same rate as a new hire. However, once a rehired employee has been in pay status for five (5) years, all previous service time shall be credited for annual leave accrual. The only exception shall be for employees rehired who repay severance pay received.

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