REGISTERED RETIREMENT SAVINGS PLAN Sample Clauses
The Registered Retirement Savings Plan (RRSP) clause outlines the terms and conditions governing contributions, management, and withdrawals from an RRSP account. Typically, this clause specifies who can contribute, how funds are invested, and the tax implications of contributions and withdrawals. For example, it may detail the process for designating beneficiaries or transferring funds upon certain life events. Its core function is to ensure that all parties understand their rights and obligations regarding the RRSP, thereby promoting compliance with tax laws and providing a clear framework for retirement savings management.
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REGISTERED RETIREMENT SAVINGS PLAN. 1. In this Article:
REGISTERED RETIREMENT SAVINGS PLAN. Effective October 1, 1999:
(a) All regular employees, upon successful completion of the probationary period, shall have a one- time option of enrolling in the plan. Participation in the plan is voluntary. The employee must exercise the option within ninety (90) days of the plan coming into effect or upon completion of the probationary period.
(b) Employee contributions to the Plan through payroll deduction will be on one (1) of the following bases: • One percent (1%) of regular earnings; or • Two percent (2%) of regular earnings; or • Three percent (3%) of regular earnings.
(c) The Employer will match the contributions made by each employee.
(d) Employees may increase or decrease their contribution levels, as noted in (b) above, on January 1st of each year by providing at least thirty (30) days’ written notice to the Employer.
(e) Employer and employee contributions will be locked in on the employee's behalf.
(f) Employers who currently have a Group RRSP in place, and which implement this Group RRSP pursuant to Article 31(a), shall terminate the current Group RRSP and contributions shall be converted to the new Group RRSP.
(g) In the event that the Employer currently participates in the Municipal Superannuation Plan (or is required to participate in the future), the Group RRSP will not be implemented (or will be terminated) for employees of the Employer.
(h) The Employer will ensure that all new employees are informed of the options available to them under this Group RRSP.
REGISTERED RETIREMENT SAVINGS PLAN. Upon receipt of instructions from an employee, the Employer shall arrange payroll deductions to a Registered Retirement Savings Plan.
REGISTERED RETIREMENT SAVINGS PLAN. The Board agrees to make constant monthly deductions from the salary of those Members who choose to participate in the OSSTF’s R.R.S.P. known specifically as Educators Financial Group Registered Retirement Savings Plan and to remit such deductions to the Trustee of the plan provided:
a) participants shall be permitted to change the amount of their contributions a maximum of two (2) times during each school year, namely, September 30 and February 1, with the exception of initiation or termination of contribution which the participant may effect with thirty (30) days’ notice; and
b) that OSSTF agrees to provide all necessary information required for administration of the plans in a format acceptable to the Board.
REGISTERED RETIREMENT SAVINGS PLAN. The Employer shall deduct, on behalf of any employee who makes written application, any amount requested, which will be placed in the Registered Retirement Savings Plan selected by the College. The employer shall ensure that such payments are deducted before taxes.
REGISTERED RETIREMENT SAVINGS PLAN. B.5.1 In this Article:
a. the BCTF Plan‖ means the Group RRSP entered into by the Federation and Royal Trust or a successor to that plan;
REGISTERED RETIREMENT SAVINGS PLAN. The Board agrees to make constant monthly deductions from the salary of those employees who choose to participate in the Union's R.R.S.P. known specifically as Investor's Group Registered Retirement Savings Plan and to remit such deductions to the Trustee of the plan provided:
REGISTERED RETIREMENT SAVINGS PLAN. The Company will administer through payroll deductions, a voluntary group RRSP as chosen by the Union. On a calendar year basis, the employee will determine the amount to be deducted from regular earnings in each pay period and this shall remain unchanged during the year except where no pay cheque is issued and in such case, no deduction will be made. Such deductions will be remitted to the group RRSP by the Company on a monthly basis.
REGISTERED RETIREMENT SAVINGS PLAN. A-4.01 The Employer and the Union agree to an R.R.S.P. on the basis of the Employer agreeing to match employee’s contributions in an amount based on every employee’s contributions time into such R.R.S.P. plan as follows (Contributions are as per every employee’s gross income): - Employee contributes four (4)% percent or more if chooses to do so - Employer contributes four (4)% percent - Employee contributes five (5%) percent or more if chooses to do so - Employer contributes five (5%) percent - Employee contributes six (6%) percent or more if chooses to do so - Employer contributes six (6%) percent - Employee contributes seven (7%) percent or more if chooses to do so - Employer contributes seven (7%) percent
REGISTERED RETIREMENT SAVINGS PLAN. Voluntary RRSP’s are available to all employees via payroll deductions. You may direct extra time or overtime earnings to voluntary pension or RRSP’s. The Retirement Savings Plan is provided by SunLife Assurance Company of Canada – Contract 96643-G.
