MERS Plan Sample Clauses

The MERS Plan clause establishes the procedures and requirements for utilizing the Mortgage Electronic Registration Systems (MERS) in the context of mortgage transactions. It typically outlines how mortgages will be registered, tracked, and transferred electronically through the MERS system, specifying the responsibilities of parties in maintaining accurate records and complying with MERS protocols. By standardizing the use of MERS, this clause streamlines the process of mortgage assignment and servicing, reducing paperwork and minimizing the risk of errors or disputes over ownership.
MERS Plan. All Full Time Civilians not previously enrolled, shall become members of the ONTARIO MUNICIPAL EMPLOYEES’ RETIREMENT SYSTEM PLAN (O.M.E.R.S.) immediately upon hire. Basic retirement benefits shall be determined by a FINAL AVERAGE EARNINGS formula based on two per cent (2%) of the average of a Full Time Civilian’s highest sixty (60) consecutive months of earnings for service after enrollment in O.M.E.R.S. times years of credited services after enrollment in O.M.E.R.S. reduced when a Full Time Civilian is entitled to Canada Pension benefits by .7% times the average of YMPE for the year the Full Time Civilian retires and the two preceding years times the period of credited service since January 1st, 1966 (to a maximum of 35 years). Benefits to supplement the Basic Plan are described below: 1. Type 1 Pension - Final average earnings. Formula - as per O.M.E.R.S. Regulations. 2. Partial Type 3 Supplementary - unreduced early retirement for members 55 years of age or older in the event of permanent partial disability.
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MERS Plan. The Employer offers the Municipal Employees Retirement System Benefit Plan B-3 to eligible employees hired on or before December 4, 2013. The Employer shall abide by the terms and conditions of the program with the Municipal Employees Retirement System. The entire bargaining unit must participate with the same percentage contribution of 13.07% for this Plan, and the Employee’s wages shall be reduced accordingly through payroll withholding deduction.
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MERS Plan. For full time and regular part time employees hired prior to October 1, 2000, who qualify pursuant to the MERS Plan Document for Defined Benefit Plans, the County will provide the MERS ▇-▇, ▇▇▇/▇▇, ▇-▇▇, ▇▇▇ ▇, ▇-▇ Retirement Defined Benefit Plan, with a 2.6% of compensation employee member contribution.
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MERS Plan. All Full-Time Fire Fighters not previously enrolled, shall become members of the ONTARIO MUNICIPAL EMPLOYEES’ RETIREMENT SYSTEM PLAN (O.M.E.R.S.) effective January 1st, 1978, or immediately upon hire, whichever is later. Basic retirement benefits shall be determined by a FINAL AVERAGE EARNINGS formula based on two percent (2%) of the average of a Full- Time Fire Fighter’s highest sixty (60) consecutive months of earnings for service after enrollment in O.M.E.R.S., times years of credited service after enrollment in O.M.E.R.S. reduced when a member is entitled to Canada Pension benefits by .7% times the average of the YMPE for the year the member retires and the two (2) preceding years times the period of credited service since January 1st, 1966 (to a maximum of 35 years). Benefits to supplement the Basic Plan are described below.
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MERS Plan. Effective April 1, 2004, the pension plan shall be the MERS B-4 (FAC5).
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MERS Plan. The Employer provides, at no cost to the employees, Municipal Employees Retirement System Benefit Plan C-1. The Employer shall abide by all the terms and conditions of that program with the Municipal Employees Retirement System. On January 1, 1990, the unit elected to purchase the C-2 provisions with the full new differential cost paid by the employees through payroll withholding deduction.
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Related to MERS Plan

  • Meal Plan 18. Residents are required to purchase a meal plan for both semesters. Refer to ▇▇▇.▇▇▇▇▇▇▇▇.▇▇/▇▇▇▇ for details on meal plan rates. Residents may contract for a meal plan of a higher value than stipulated in the fee schedule. 19. The meal plan may only be used to purchase food and beverages at Food Service outlets designated by the University. Meal plans cannot be used to purchase alcohol or gift certificates from any of our Off Campus Partners or to pay any other fees owed to the University of Windsor. 20. Selling of unused meal plan money is not permitted. 21. The University accepts no liability for lost, misplaced or stolen student cards and reserves the right to confiscate without recourse, any student card which bears evidence of alterations. 22. Any unused balance remaining in the meal plan accounts of the Resident on the termination date of this Agreement, will be subject to the University of Windsor Meal Plan Carry-Forward Policy. 23. Residents may add money to their meal plan at the Food Services office, J01 in Vanier Hall or the UwinCard Office in the CAW Student Centre (lower level). 24. The meal plan account is HST exempt on most purchases made at Food Service outlets on campus, except on taxable items at the Bru in Alumni Hall or with our Off Campus Partners. This is a current meal plan tax policy and is subject to change in accordance with provincial or federal legislation. 25. Meal plan fees or hours of operation are subject to change as deemed necessary or when due to circumstances beyond Food Services' control. The University reserves the right to increase or otherwise change the prices of items available for purchase in its Food Service outlets. Residents will be given reasonable notice of changes to the plan and such changes will be made fairly and in due consultation with student representatives.

  • Traditional Individual Retirement Custodial Account The following constitutes an agreement establishing an Individual Retirement Account (under Section 408(a) of the Internal Revenue Code) between the depositor and the Custodian.

  • Application for Benefits Requests for short-term leaves shall be in writing, upon the appropriate form prescribed and provided by the District, and shall be filed with the unit member's supervisor and the appropriate manager five (5) days in advance of the intended leave (except in emergency situations), unless otherwise stated by the provisions of the specific leave.

  • Benefit Plan If an employee maintains coverage for benefit plans while on maternity or parental leave, the Employer agrees to pay the Employer's share of these premiums.

  • Plan The Award and all rights of the Participant under this Agreement are subject to the terms and conditions of the provisions of the Plan, incorporated herein by reference. The Participant agrees to be bound by the terms of the Plan and this Agreement. The Participant acknowledges having read and understanding the Plan, the Prospectus for the Plan, and this Agreement. Unless otherwise expressly provided in other sections of this Agreement, provisions of the Plan that confer discretionary authority on the Board or the Administrator do not (and shall not be deemed to) create any rights in the Participant unless such rights are expressly set forth herein or are otherwise in the sole discretion of the Board or the Administrator so conferred by appropriate action of the Board or the Administrator under the Plan after the date hereof.