OMERS Pension Sample Clauses

OMERS Pension. 7.2.1 With respect to the pension described in Article 7.1.1, the contribution of the Board and of each member shall be in accordance with the rates as prescribed from time to time in the Ontario Municipal Employees Retirement System Act and the regulations made thereunder. The Board agrees that, for the purposes of OMERS, a member's contributory earnings will include identified taxable benefits (including automobile and service pay) in accordance with the OMERS guidelines and regulations.
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OMERS Pension. Every employee shall join the Ontario Municipal Employees Retirement System at commencement of employment. The employer and the employee shall make contributions in accordance with the provisions of the Act. It is understood that any period of suspension without pay shall be deemed an approved leave of absence for OMERS pension purposes. Should the employee elect to purchase any portion of that period as credited service, the employee shall be responsible for both the employee and employer’s OMERS contributions for such period.
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OMERS Pension. Every employee shall join the Ontario Municipal Employees Retirement System (OMERS) on being hired. The Employer and the employee shall make contributions in accordance with the provisions of the Plan.
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OMERS Pension. ‌ 21.01 Regular and Probationary employees shall be enrolled in the OMERS Basic Plan.
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OMERS Pension. The Employer participates in a pension plan under the provisions of the Ontario Municipal Employees Retirement System Act. It is a condition of employment that each full-time employee becomes a member of the Ontario Municipal Employees Retirement System contributing payments as required by the Act by payroll deduction. The Employer will contribute an amount to the Fund as required from time to time by the trustees of said Fund.
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OMERS Pension. A16 The City agrees to pay its portion of the required premiums toward a benefit at normal retirement age equal to 2% of each Employee’s best 60 consecutive months’ average salary multiplied by his/her years of credited service, reduced at age 65 by the prevailing OMERS rate (currently .675% as of November 21, 2001) of such average salary or the average of the last three year’s Maximum Pensionable Earnings under the Canada Pension Plan at retirement whichever is the lesser amount, multiplied by his/her years of credited service after January 1, 1966, less any amount payable under an approved pension plan of the Employer. Credited Service means continuous service with the Employer:
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Related to OMERS Pension

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • Early Retirement Benefit If the Executive terminates employment after the Early Retirement Date but before the Normal Retirement Date, and for reasons other than death or Disability, the Bank shall pay to the Executive the benefit described in this Section 2.2.

  • Taxes; Pensions Timely file, and require each of its Subsidiaries to timely file, all required tax returns and reports and timely pay, and require each of its Subsidiaries to timely pay, all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower and each of its Subsidiaries, except for deferred payment of any taxes contested pursuant to the terms of Section 5.9 hereof, and shall deliver to Bank, on demand, appropriate certificates attesting to such payments, and pay all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms.

  • SIMPLE Individual Retirement Custodial Account (Under section 408(p) of the Internal Revenue Code) The participant named above is establishing a savings incentive match plan for employees of small employers individual retirement account (SIMPLE IRA) under sections 408(a) and 408(p) to provide for his or her retirement and for the support of his or her beneficiaries after death. The custodian named above has given the participant the disclosure statement required by Regulations section 1.408-6. The participant and the custodian make the following agreement:

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law.

  • What Forms of Distribution Are Available from a Xxxxxxxxx Education Savings Account Distributions may be made as a lump sum of the entire account, or distributions of a portion of the account may be made as requested.

  • Public Benefit It is Xxxxxxx’x understanding that the commitments it has agreed to herein, and actions to be taken by Xxxxxxx under this Settlement Agreement, would confer a significant benefit to the general public, as set forth in Code of Civil Procedure § 1021.5 and Cal. Admin. Code tit. 11, § 3201. As such, it is the intent of Xxxxxxx that to the extent any other private party initiates an action alleging a violation of Proposition 65 with respect to Xxxxxxx failure to provide a warning concerning exposure to DEHP prior to use of the Products it has manufactured, distributed, sold, or offered for sale in California, or will manufacture, distribute, sell, or offer for sale in California, such private party action would not confer a significant benefit on the general public as to those Products addressed in this Settlement Agreement, provided that Xxxxxxx is in material compliance with this Settlement Agreement.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Life Annuity The monthly annuity shall be payable to the annuitant for as long as the annuitant lives, and shall end with the last monthly payment before the death of the annuitant.

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