Group Registered Retirement Savings Plan. 9.9.1 The College agrees to implement a group Registered Retirement Savings Plan for participation by employees. For regular employees who wish to participate in the Plan, the College agrees to contribute the total amount of the annual contribution by the fifteenth of the first month of the Benefit Year. The employee shall repay that contribution through payroll deduction in equal instalments throughout the Benefit Year.
Group Registered Retirement Savings Plan. (A) The Employer and the Union agree to employee contributions to the Local 2085 Group Registered Retirement Savings Plan for all hours worked, by all Journeyperson Electricians covered under this Collective Agreement, at the following rates: May 1, 2016: $1.25 per hour
Group Registered Retirement Savings Plan. The Vendor hereby assigns to the Purchaser, and the Purchaser hereby assumes from the Vendor, as of and with effect from the Effective Time, all of the rights, obligations and liabilities of the Vendor with respect to the group registered retirement savings plan accounts that are provided by the Vendor (a) to the Non-Union Employees and Unionized Employees, and (b) to any other individuals who are members of the Stand-Alone Registered Pension Plans.
Group Registered Retirement Savings Plan. ELIGIBILITY Full Time Employees are eligible in accordance with Article 23.03(b). Employees newly eligible to participate in the Plan effective July 1, 2019, shall not participate in the Plan unless they elect to permanently opt in to the Plan, provided such election is made in writing and received by the Director, Employee & Labour Relations on or before April 1, 2019. For Employees electing to opt in, participation shall commence July 1, 2019. WAITING PERIOD BEFORE ENROLMENT After expiry of probationary period. CONTRIBUTIONS FOR SPECIFIC SITUATIONS Active (regular) employment – Employee deductions on 3.5% of base pay up to the YMPE2 and 5% of base pay above the YMPE, on a biweekly basis (“Required Contributions”); Employee option to contribute while on pregnancy leave, parental leave, Family Medical Leave and WSIB, at the same rate as active Employee Required Contribution rates, with Employer matching contributions based on active employment rules; No option for Employees to contribute while on Unpaid Leave of Absence or Unpaid Sick Leave; Voluntary additional contributions to the Canada Revenue Agency maximum total annual contribution level (“Voluntary Contributions”). EMPLOYER CONTRIBUTION FORMULA Matching Employee Required Contributions, no match on Employee Voluntary Contributions. COVERED PAY Regular base earnings PAYMENT OF FEES Paid from the Plan INVESTMENT The Employee will have options to invest its and the Employer’s matching contributions, and Voluntary Contributions, through a variety of investment options representing the following bases: conservative, moderate and aggressive. The amount of the contributions and the performance of the investment will determine the amount accruing to the Employee at the point of retirement. As the Employee is enrolled in the Group RRSP, the Employee will have access to investment information with respect to the investment options. Employees considering retirement have access to pre-retirement planning seminars.
Group Registered Retirement Savings Plan. Effective August 1, 2008 all regular employees, upon successful completion of the probationary period, shall have the option of enrolling in the plan. Participation in the plan is voluntary. The plan details are as follows:
Group Registered Retirement Savings Plan. Group RRSP (Effective November 19, 2024)
Group Registered Retirement Savings Plan. Effective April 1, 1998, the Employer shall implement a Group RRSP with the following terms:
Group Registered Retirement Savings Plan. All regular employees, upon successful completion of the probationary period, shall be enrolled in the plan.
Group Registered Retirement Savings Plan. .1 For individual full-time teachers hired on or after September 1, 1998, the Board shall contribute $250 per year as a taxable benefit, to a maximum of six years, to a Registered Retirement Savings Plan. Contributions for part-time teachers shall be prorated.
Group Registered Retirement Savings Plan. The Association shall contribute to a group R.R.S.P. an equivalent amount on behalf of each permanent full time employee. The contribution shall begin after the successful completion of the three (3) months of permanent full time employment. The amount of employer contribution shall be determined on the basis of not less than 5/12 of E.I. premium reduction. Employees shall be informed yearly of the amount of the contribution. Mandatory contributions by the employee are equal to the employer's share. Employees may make additional voluntary contributions. The Association shall cease to contribute to the R.R.S.P. benefits when the employee is on unpaid leave of absence for more then twelve(12) working days in a month. An employee may withdraw his/her personal contribution to the group R.R.S.P. submit to the limitations and penalties of the plan. The employer contribution can only be withdrawn when the employee terminates his/her employment with the Association or the contributions have been in the plan for two (2) years.
