Common use of RRSP Contributions Clause in Contracts

RRSP Contributions. (a) Employees may contribute up to three and one half percent (3.5%) of their basic hourly rate of pay into a self-directed RRSP for all hours worked. Employee’s contributions will be on a voluntary basis with decisions to participate or not made once a year for a twelve-month period. For each Employee contributing into the plan in any twelve-month period, the Employer will contribute a matching percentage of the Employee’s basic hourly rate of pay for all hours worked on behalf of participating Employees. Employees may choose to make additional contributions to the Pension Plan. Such additional contributions will not be matched by the Employer. Employees may choose to make such additional contributions, or not, effective for August 1st of each year. The Employee must give the Employer a minimum of thirty (30) days written notice. (b) The Employer will make the contributions through direct deposit to the RRSP Plan as supplied by the Employer.

RRSP Contributions. (a) Effective April 1, 2012, Employees may contribute up to three and one half percent (3.5%) of their basic hourly rate of pay into a self-directed RRSP for all hours worked. Employee’s contributions will be on a voluntary basis with decisions to participate or not made once a year for a twelve-month period. For each Employee contributing into the plan in any twelve-month period, the Employer will contribute a matching percentage of the Employee’s basic hourly rate of pay for all hours worked on behalf of participating Employees. Employees may choose to make additional contributions to the Pension Plan. Such additional contributions will not be matched by the Employer. Employees may choose to make such additional contributions, or not, effective for August 1st of each year. The Employee must give the Employer a minimum of thirty (30) days written notice. (b) The Employer will make the contributions through direct deposit to the RRSP Plan as supplied by the Employer.