OMERS CONTRIBUTORY EARNINGS. As a reference for employees the parties have agreed to include the definition of contributory earnings under the OMERS Pension Plan. For more information employees may access the OMERS web site at xxx.xxxxx.xxx or contact Human Resource Services for an OMERS Member Handbook. The parties will continue to be bound by any OMERS Plan changes. Definition of Contributory Earnings For all pension and other compensation purposes the parties agree that contributory earnings must include all regular recurring earnings including the following: • base wages or salary; • regular vacation pay if there is corresponding service; • normal vacation pay for other-than-continuous full-time members. Include vacation hours in credited service; • retroactive pay (including any pay equity adjustment) that fits with OMERS definition of earnings for all members, including active, terminated, retired and disabled members; • lump sum wage or salary benefits which may vary from year to year but which form a regular part of the compensation package and are expected normally to occur each year (e.g. payment based on organizational performance, some types of variable pay, merit pay and commissions); • market value adjustments (e.g. percentage paid in addition to a base wage as a result of market conditions, including retention bonuses if they are part of your ongoing pay strategy and not a temporary policy); • ongoing special allowances (e.g. flight allowance and canine allowance); • pay for time off in lieu of overtime; • danger pay; • acting pay (pay at a higher salary rate for acting in place of an absent person); • shift premium (pay for shift work); • ongoing long service pay (extra pay for completing a specified number of years of service); • sick pay deemed to be regular wages or salary; • salary or wage extension for any reason, provided service is extended (the member must be “kept whole” e.g. continuation of salary and benefits). If the member becomes employed in another position and begins contributing to any registered pension plan (except CPP), the balance of the extension period becomes unpurchasable service; • stand-by pay/call-in pay (pay for being on call, not pay for hours worked when called in); • living accommodation premiums provided (if paid as a form of compensation and not as a direct expense reimbursement); • ongoing taxable payments to pay for costs (e.g. educational or car allowance); • taxable premiums for life insurance; • taxable value of provided vehicle o...
OMERS CONTRIBUTORY EARNINGS. The parties agreed that this Letter of Understanding is for information purposes only and is not grievable. As a reference for employees, the parties have agreed to include the definition of contributory earnings under the OMERS Pension Plan, as amended from time to time. For more information, employees may access the OMERS website at xxx.xxxxx.xxx.
OMERS CONTRIBUTORY EARNINGS. The parties agree to provide the information contained in this letter as a reference for employees only. This letter is not grievable and will be removed upon expiration of the current agreement.
OMERS CONTRIBUTORY EARNINGS. The Canadian Union of Public Employees has requested that the Parties attach this Letter of Information to the Collective Agreement. This Letter of Information shall not be considered as part of the Collective Agreement between the Parties and shall not be raised or referred to in any grievances and/or arbitration proceedings between the Parties. The Canadian Union of Public Employees and Canadian Union of Public Employees, Local 1202, shall indemnify and save the Board harmless from any and all claims Board employees or OMERS may have against the Board arising from or related to this Letter of Information.
OMERS CONTRIBUTORY EARNINGS. It is understood by the parties that a bargaining unit employee will be enrolled and maintain participation in the OMERS Pension Plan or Ontario Teachers’ Pension Plan. The parties will continue to be bound by any and all amendments to the OMERS pension plan.
