Common use of Retirement Programs Clause in Contracts

Retirement Programs. 14.01 All employees will be eligible to participate in the Festival’s Group RRSP program (the “RRSP”) in accordance with the following: (a) An employee may join the RRSP following completion of his or her probationary period; (b) The employee may choose to contribute up to 5% of his or her gross earnings (including vacation pay) to the RRSP; (c) Once the employee completes twelve (12) months full-time service OR 2 seasons (minimum of 480 hours each) of work, the Festival will thereafter remit to the RRSP on behalf of the employee an amount equivalent to that contributed by the employee; (d) Employees will have access to an independent financial advisor for at the cost of the Festival, to assist with investment choices for the employee’s RRSP contribution. Employees may access up to one hour per year on paid work time to meet with said advisor. Additional appointments will be on the employee’s own time. 14.02 Employees will not be permitted to withdraw any money out of the RRSP while they continue to be employed by the Festival. 14.03 In addition to the above-mentioned contributions, the Festival shall pay contributions to the Canada Pension Plan as determined by law. (a) Full-time employees participating in the Stratford Festival Pension Plan (the “Pension Plan”) as at January 1, 2006 will, at their option, be permitted to continue to participate in the Pension Plan under its terms and conditions until their termination or retirement, in lieu of participating in the RRSP as outlined in clause14.01. Notwithstanding, such full-time employees may also elect to participate, or to continue to participate, in the RRSP to a maximum of 1.5% of earnings, and the Festival shall make a matching contribution to the RRSP. The Festival agrees that no changes will be made to the Pension Plan unless the Union consents. (b) Any employee participating in the Pension Plan at January 1, 2006 who chooses not to continue to participate will become a deferred vested member in the Pension Plan as of the date of ratification, and all accrued service and pension credit will be held until his or her retirement or termination. Effective with this agreement, such employees will be entitled to participate in the RRSP in accordance with the terms of clause 14.01 above, and the Festival shall remit the matching RRSP contribution on his or her behalf as outlined in clause 14.01.

Retirement Programs. 14.01 All employees will be eligible to participate in the Festival’s Group RRSP program (the “RRSP”) in accordance with the following: (a) An employee may join the RRSP following completion of his his/her or her probationary period; (b) The employee may choose to contribute up to 5% of his his/her or her gross earnings (including vacation pay) to the RRSP; (c) Once the employee completes twelve (12) months full-time service OR 2 seasons (minimum of 480 hours each) of worktheir probationary period, the Festival will thereafter remit to the RRSP on behalf of the employee an amount equivalent to that contributed by the employee; (d) Employees will have access to an independent financial advisor for at the cost of the Festival, to assist with investment choices for the employee’s RRSP contribution. Employees may access up to one hour per year on paid work time to meet with said advisor. Additional appointments will be on the employee’s own time. 14.02 Employees will not be permitted to withdraw any money out of the RRSP while they continue to be employed by the Festival. 14.03 In addition to the above-mentioned contributions, the Festival shall pay contributions to the Canada Pension Plan as determined by law. (a) Full-time employees participating in the Stratford Festival Pension Plan (the “Pension Plan”) as at January 1, 2006 will, at their option, be permitted to continue to participate in the Pension Plan under its terms and conditions until their termination or retirement, in lieu of participating in the RRSP as outlined in clause14.01Article14.01. Notwithstanding, such full-time employees may also elect to participate, or to continue to participate, in the RRSP to a maximum of 1.5% of earnings, and the Festival shall make a matching contribution to the RRSP. The Festival agrees that no changes will be made to the Pension Plan unless the Union consents. (b) Any employee participating in the Pension Plan at January 1, 2006 who chooses not to continue to participate will become a deferred vested member in the Pension Plan as of the date of ratification, and all accrued service and pension credit will be held until his or his/her retirement or termination. Effective with this agreement, such employees will be entitled to participate in the RRSP in accordance with the terms of clause Article 14.01 above, and the Festival shall remit the matching RRSP contribution on his or his/her behalf as outlined in clause Article 14.01.

Retirement Programs. 14.01 All employees will be eligible to participate in the Festival’s Group RRSP program (the “RRSP”) in accordance with the following: (a) An employee may join the RRSP following completion of his or her probationary period; (b) The employee may choose to contribute up to 5% of his or her gross earnings (including vacation pay) to the RRSP; (c) Once the employee completes twelve (12) months full-time service OR 2 seasons (minimum of 480 hours each) of worktheir probationary period, the Festival will thereafter remit to the RRSP on behalf of the employee an amount equivalent to that contributed by the employee; (d) Employees will have access to an independent financial advisor for at the cost of the Festival, to assist with investment choices for the employee’s RRSP contribution. Employees may access up to one hour per year on paid work time to meet with said advisor. Additional appointments will be on the employee’s own time. 14.02 Employees will not be permitted to withdraw any money out of the RRSP while they continue to be employed by the Festival. 14.03 In addition to the above-mentioned contributions, the Festival shall pay contributions to the Canada Pension Plan as determined by law. (a) Full-time employees participating in the Stratford Festival Pension Plan (the “Pension Plan”) as at January 1, 2006 will, at their option, be permitted to continue to participate in the Pension Plan under its terms and conditions until their termination or retirement, in lieu of participating in the RRSP as outlined in clause14.01. Notwithstanding, such full-time employees may also elect to participate, or to continue to participate, in the RRSP to a maximum of 1.5% of earnings, and the Festival shall make a matching contribution to the RRSP. The Festival agrees that no changes will be made to the Pension Plan unless the Union consents. (b) Any employee participating in the Pension Plan at January 1, 2006 who chooses not to continue to participate will become a deferred vested member in the Pension Plan as of the date of ratification, and all accrued service and pension credit will be held until his or her retirement or termination. Effective with this agreement, such employees will be entitled to participate in the RRSP in accordance with the terms of clause 14.01 above, and the Festival shall remit the matching RRSP contribution on his or her behalf as outlined in clause 14.01.

Retirement Programs. 14.01 All employees will be eligible to participate in the Festival’s Group RRSP program (the “RRSP”) in accordance with the following: (a) An employee may join the RRSP following completion of his or her their probationary period; (b) The employee may choose to contribute up to 5% of his or her their gross earnings (including vacation pay) to the RRSP; (c) Once the employee completes twelve (12) months full-time service OR 2 seasons (minimum of 480 hours each) of worktheir probationary period, the Festival will thereafter remit to the RRSP on behalf of the employee an amount equivalent to that contributed by the employee; (d) Employees will have access to an independent financial advisor for at the cost of the Festival, to assist with investment choices for the employee’s RRSP contribution. Employees may access up to one hour per year on paid work time to meet with said advisor. Additional appointments will be on the employee’s own time. 14.02 Employees will not be permitted to withdraw any money out of the RRSP while they continue to be employed by the Festival. 14.03 In addition to the above-mentioned contributions, the Festival shall pay contributions to the Canada Pension Plan as determined by law. (a) Full-time employees participating in the Stratford Festival Pension Plan (the “Pension Plan”) as at January 1, 2006 will, at their option, be permitted to continue to participate in the Pension Plan under its terms and conditions until their termination or retirement, in lieu of participating in the RRSP as outlined in clause14.01Article14.01. Notwithstanding, such full-time employees may also elect to participate, or to continue to participate, in the RRSP to a maximum of 1.5% of earnings, and the Festival shall make a matching contribution to the RRSP. The Festival agrees that no changes will be made to the Pension Plan unless the Union consents. (b) Any employee participating in the Pension Plan at January 1, 2006 who chooses not to continue to participate will become a deferred vested member in the Pension Plan as of the date of ratification, and all accrued service and pension credit will be held until his or her their retirement or termination. Effective with this agreement, such employees will be entitled to participate in the RRSP in accordance with the terms of clause Article 14.01 above, and the Festival shall remit the matching RRSP contribution on his or her their behalf as outlined in clause Article 14.01.

Retirement Programs. ‌ 14.01 All employees will be eligible to participate in the Festival’s Group RRSP program (the “RRSP”) in accordance with the following: (a) An employee may join the RRSP following completion of his or her probationary period; (b) The employee may choose to contribute up to 5% of his or her gross earnings (including vacation pay) to the RRSP; (c) Once the employee completes twelve (12) months full-time service OR 2 seasons (minimum of 480 hours each) of work, the Festival will thereafter remit to the RRSP on behalf of the employee an amount equivalent to that contributed by the employee; (d) Employees will have access to an independent financial advisor for at the cost of the Festival, to assist with investment choices for the employee’s RRSP contribution. Employees may access up to one hour per year on paid work time to meet with said advisor. Additional appointments will be on the employee’s own time. 14.02 Employees will not be permitted to withdraw any money out of the RRSP while they continue to be employed by the Festival. 14.03 In addition to the above-mentioned contributions, the Festival shall pay contributions to the Canada Pension Plan as determined by law. (a) Full-time employees participating in the Stratford Festival Pension Plan (the “Pension Plan”) as at January 1, 2006 will, at their option, be permitted to continue to participate in the Pension Plan under its terms and conditions until their termination or retirement, in lieu of participating in the RRSP as outlined in clause14.01. Notwithstanding, such full-time employees may also elect to participate, or to continue to participate, in the RRSP to a maximum of 1.5% of earnings, and the Festival shall make a matching contribution to the RRSP. The Festival agrees that no changes will be made to the Pension Plan unless the Union consents. (b) Any employee participating in the Pension Plan at January 1, 2006 who chooses not to continue to participate will become a deferred vested member in the Pension Plan as of the date of ratification, and all accrued service and pension credit will be held until his or her retirement or termination. Effective with this agreement, such employees will be entitled to participate in the RRSP in accordance with the terms of clause 14.01 above, and the Festival shall remit the matching RRSP contribution on his or her behalf as outlined in clause 14.01.