EMPLOYEE PENSION PLAN Sample Clauses

EMPLOYEE PENSION PLAN. 32.1 The Board shall pay all pension contributions to the Oklahoma Teacher's Retirement System for each employee currently participating in the OTRS program, as well as for those present employees, contracted to work 20 hours or more per week, becoming eligible for participation. Support employees hired before April 1 shall become eligible for District-paid OTRS benefits the following contract year. Employees hired April 1 or later, become eligible to participate after their first full contract year. The waiting period for new support employees shall be waived for any newly hired employee who is already participating as an active member of OTRS. (revised 2017-18)
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EMPLOYEE PENSION PLAN. 5.10.1 At least fifteen days prior to the Closing Date, Seller shall take any and all actions necessary to cease benefit accruals and fully vest all Transferred Employees in their accrued benefits under the Citizens Pension Plan ("Seller's Pension Plan" or "Citizens Pension Plan"). Seller shall retain liability and related assets for benefits accrued through the Closing Date by Transferred Employees under Seller's Pension Plan.
EMPLOYEE PENSION PLAN. 24.01 No alterations or amendments shall be made to the Pension Plan without consultation with the Union.
EMPLOYEE PENSION PLAN. The Board shall cause all employee contributions of support personnel to the regular retirement plan maintained by the Teachers' Retirement System (TRS) to be "picked up." Such contributions shall be treated as employer contributions, pursuant to the provisions of Internal Revenue Code Sections 414 (h) (2), rendering such contributions exempt from current federal and Oklahoma income taxes under current law. F.I.C.A. taxes shall be withheld from such contributions. December 1991
EMPLOYEE PENSION PLAN. Employees must join the pension plan immediately upon employment. The Company contributes all funds required in order to provide pensions in accordance with the plan formula. The monthly pension received from Line Creek Operations during retirement depends upon: ▪ Pensionable Service - years and months of accredited service. ▪ Final Average Earnings - average of the highest consecutive 60 calendar months basic earnings while a member of the plan. The pension formula is: 1/2 CPP benefit x years of Pensionable Service=Pension Benefit Normal retirement is at age 65. The Company pension is paid monthly for the rest of the employee’s life. Should the employee become deceased before 60 payments are made, the balance of 60 monthly payments would be made to the designated beneficiary. Optional forms of pension benefits are available. Early retirement is available after 10 years of service, where age plus years of service total at least 75. Unreduced early retirement is available where age plus years of service total at least 90. Employees may choose to make contributions to the Voluntary Pension Plan in order to supplement retirement income. The maximum allowable contribution in one calendar year is $3,500.00 for present year service. During the calendar year of participation in the Voluntary Pension Plan, no form of investment in a RRSP is allowed. A Pension Benefit is vested after two years of pensionable service. There is no age requirement to the vesting, and the benefit is based on an accredited service date. Survivor benefits shall be paid in accordance with the provisions of the pension plan and governing legislation. The value of the benefit shall be based upon 60% of the vested accrued pension assuming termination of employment the day prior to death.
EMPLOYEE PENSION PLAN. All part-time employees, who wish to participate in the pension plan, may opt to do so once they have completed the probationary period and subject to the provisions listed below. There is no requirement for part-time employees to participate in the pension plan. Registration in the employee pension plan will be open once yearly during the first two weeks of March. Any part-time employees, who wish to register for the pension plan, should contact Human Resources during this open period. Part-time employees who choose to join the pension plan do so with the understanding that:  the % in lieu of benefits (10%) will be reduced by the 6% Employer contribution that is required by the pension plan;  the employee will be responsible for matching the 6% Employer contribution from their weekly pay cheque.
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EMPLOYEE PENSION PLAN. Bargaining Unit employees are entitled to participate in the Chateau Canada Limited Pension Plan subject to the eligibility requirement and provisions of the Plan. MEALS AND BEVERAGES At each facility covered by this Agreement, the Company will provide a Cafeteria for the employees. Meals and beverages will be provided and the employees will be assessed a fee fifty-five cents for the maintenance of the meal service. TUITION REIMBURSEMENT PLAN
EMPLOYEE PENSION PLAN. The Company does not have any "pension plans" (as defined in ERISA) other than as listed in Schedule 3.1.22 (all of said plans being sometimes hereinafter collectively referred to as the "Plans"). Each of the Plans is a "qualified plan" within the meaning of IRC, and no pension plan has been terminated or experienced any "reportable event" within the meaning of ERISA. Based upon an actuarial method of valuation of assets which complies with ERISA and upon actuarial assumptions and methods which comply
EMPLOYEE PENSION PLAN. Current Employees that are participating in the Local Authorities Pension Plan are required to continue to participate until retirement or resignation. It is understood that if the Employees are not eligible to participate in XXXX, the employer contributions for the replacement pension/RRSP plan will be equal to the contributions to XXXX. Eligible Employees shall participate in an RRSP program currently provided by Sun Life. For Part-time Employees, participation is optional.
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