Pension Plan Sample Clauses

Pension Plan. The terms of the Pension Plan form part of this Agreement. All employees must enroll in the Pension Plan in accordance with its terms and conditions.

Pension Plan. Employers and/or individuals who manage, operate, assist or own, either partially or wholly, a company or companies working non-union in the construction industry on Mainland Nova Scotia within the craft jurisdiction of ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ Local 83 shall not be eligible to be appointed to serve, or to continue to serve, as trustees on any trust fund referred to within this Collective Agreement. This provision shall apply to management trustees and union trustees alike. 29.01 It is agreed that the employer shall pay into the established Pension Fund an amount per hour for each hour paid as per the wage tables in Craft Schedule “A”, “B”, “S” and Appendix “MIP”. Pension contributions shall be calculated based on the base hourly rate and vacation pay, and no premium shall affect this. For the purposes of this Article, overtime rates payable in accordance with Article 16 are not premiums. Such contributions shall be paid to the Trustees of the Pension Fund on or before the fifteenth (15th) day of the month following the month such hours were worked and shall be accompanied by a remittance report form for each employee on a form prescribed by the Trustees of the Fund. Each monthly report and contributions shall include all obligations arising from hours worked up to the preceding calendar month. 29.02 It is agreed that provisions for an increase in the Pension Plan (other than those increases listed above) will be implemented if so desired by the Local, with the employer contribution to be deducted from the wages rates contained herein, provided the employer receives sixty (60) days notice of such change. 29.03 The Pension Plan shall be professionally administered. 29.04 Neither the United Brotherhood of Carpenters and Joiners of America, Local 83, nor the Nova Scotia Construction Labour Relations Association shall incur any legal liability with regard to claims arising from the Pension Plan. 29.05 Employers bound by, or subject to the Agreement, shall be required to maintain for a two (2) year period, a complete set of employment records including: • employee’s name, address, and S.I.N. • number of hours worked by the employee in each week • employee’s wage rate and gross earnings, amount(s) and description of deductions from the employee’s wages • particulars of pay allowances or other payments or benefits to which the employee is entitled.

Pension Plan. In this Article, the terms used shall have the meanings as described:

Pension Plan. 15.01 The CLAC Pension Plan (“the Plan”), a defined contribution pension plan, is registered with the Canada Revenue Agency. The Plan applies to all employees covered by this Agreement. 15.02 New employees will join the Plan beginning from the first day of employment. 15.03 The Employer shall remit to the Union, for each eligible employee, an Employer contribution as indicated in Schedule “A”. Employer contributions will vest in accordance with the rules of the Plan. 15.04 The Employer’s contributions to the Plan will be non-refundable to the Employer once received by the Union and will vest immediately in the employee on whose behalf the deposit was made. 15.05 The Employer agrees to deduct, by way of payroll deduction, and remit to the Union, additional voluntary employee pension contributions which are above and beyond those contributions outlined above. Employees must request such deductions by submitting a form provided by the Union to the Employer. The Employer will send a copy of the completed form to the Union along with the next remittance which includes such voluntary contributions. 15.06 The total amount of pension contributions remitted by the Employer, on an employee’s behalf, cannot exceed the annual maximum money purchase outlined by the Canada Revenue Agency. The Employer has no obligation to monitor the employee’s contribution made outside the employment relationship. For greater clarity, if employees exceed the annual maximum money purchase limit as a result of contributions made outside the employment relationship, the Employer shall not be liable for any tax consequence imposed on the employee by the Canadian Revenue Agency. 15.07 The Employer shall continue pension contributions during a period of injury insured under provincial workplace safety insurance legislation, to the extent required by such legislation. 15.08 The Employer will remit pension contributions to the Union as outlined in the Remittances to the Union article. Employer and voluntary contributions, as the case may be, will be recorded separately on the remittance. 15.09 In the event that a remittance has not been received by the Union by the date set out in the Remittances to the Union article, the Employer is responsible to compensate the Plan for any investment returns lost by the employees as a result of the late remittance. This compensation amount shall be calculated on all applicable contributions which are part of the remittance.

Pension Plan. Neither the Company nor any Affiliate has ever maintained, established, sponsored, participated in, or contributed to, any Pension Plan which is subject to Title IV of ERISA or Section 412 of the Code.

Pension Plan. 16.01 This Plan applies to all employees covered by this Collective Agreement. 16.02 It is mandatory for all employees with six (6) months' employment to participate in the Pension Plan. New employees will join the Plan immediately upon completing six (6) months of employment. 16.03 The Employer shall deduct from the covered wages, of each eligible employee, each pay, an amount equal to four percent (4%) of such covered wages. 16.04 The Employer shall pay an amount equal to four percent (4%) of covered wages of each eligible employee. 16.05 Covered wages as set out in 16.03 and 16.04 above include straight time hourly wages, the straight time portion of holiday pay and vacation pay. All other earnings are excluded. 16.06 The Employer will remit the employee's and the Employer's contributions to Pension Plan #0398594, a Registered Money Purchase Plan, within thirty (30) days following the end of the month for which contributions are payable, together with an itemized list of employees and the amounts applicable to each. 16.07 The Employer and the Union will cooperate in providing the information required to administer the Pension Plan on the employee's behalf. The Plan shall be responsible for informing the employees about the Plan including an annual statement to each employee, showing their previous year's balance, new contributions made, new earnings and new balance. a. The Employer agrees to deduct by way of payroll deduction and send to the Union’s Benefit Administration Office, voluntary employee contributions in addition to any Collective Agreement Pension Plan contributions provided an employee is already enrolled in the Plan. Such amounts shall not exceed the limits established by Revenue Canada. These monies will be recorded separately on the Employer’s monthly remittance to the Benefit Administration office. Any administrative errors made by the Employer must be brought to the attention of the Union Benefit Administration Office within the calendar year. b. Employees who wish on a voluntary basis to have additional monies deducted from their pay and sent to the Pension Plan Office shall request a form from the Employer provided by the CLAC Benefit Administration Office with the first remittance of such additional voluntary contributions. c. Employer amounts will be limited to amounts agreed in Article 16.04 above.

Pension Plan. 29.01 The Employer shall contribute to the Local Authorities Pension Plan, for retirement benefits for participating Employees, provided they are regularly scheduled to work at least fourteen (14) hours per week as averaged over one (1) complete cycle of the shift schedule, in accordance with the terms and conditions of the applicable plan. 29.02 The Employer shall make available to all eligible Employees copies of the Local Authorities Pension Plan Booklets.

Pension Plan. 9.1 All Regular Full-Time and Regular Part-Time employees shall, as a condition of employment, participate in a defined contribution pension plan maintained by the Company. These eligible employees shall be enrolled in the plan on the first day of the month following completion of ninety (90) day service period. Participating employees will each contribute five percent (5%) of earnings to the plan. The Company will contribute six percent (6%) of an employees earnings to the plan.

Pension Plan. Regular employees shall participate in the existing plan in accordance with the terms of the plan and in any future plan that may be entered into by mutual agreement by the parties thereto.