SALARY LEAVE PLAN Sample Clauses

SALARY LEAVE PLAN. The Employer shall allow employees with five (5) years, or more, service with the Employer to take a one year leave of absence financed by the employee by deferral of salary. Employees must make written application to the Employer six (6) months before the deferral is to commence, requesting permission to participate in the plan. Written acceptance, or denial, of the employee’s request, with an explanation, shall be forwarded to the employee no later than one (1) month from the date of written application. Approval of individual requests to participate in the plan shall rest solely with the Employer. Refusal by the Employer to approve an application shall be final and The payments of salary, benefits, and the timing of the one year leave of absence shall be as follows: in each year of the plan preceding the year of the leave, an employee shall be paid a reduced percentage of applicable annual salary. The remaining percentage of annual salary shall be deferred and this accumulated amount, plus interest earned, shall be retained by the Employer and paid to the employee during his year of leave, the percentage of annual salary deferred in any one (1) year shall not be less than five (5) percent, the calculation of interest under this plan shall be done monthly, not in advance. The interest paid shall be calculated by averaging the interest rates in effect on the last day of each month of a true savings account, a one (1) year term deposit, a three (3) year term deposit, and a five (5) year term deposit. The rates for each of the accounts identified shall be those quoted by the main branch in Nova Scotia with which the Employer deals. Interest shall be calculated as above and credited to the employees account on the day prior to each of the regular pay dates of the employee. While an employee is enrolled in the plan and not on leave, any benefits tied to salary level shall be structured according to the salary the employee would have received had not been enrolled in the plan. An employees benefits shall be maintained during leave of absence, however, the premium costs of all benefits shall be paid by the employee during the year of leave. While on leave, any benefits tied to salary shall be structured according to the salary the employee would have received in the year prior to taking the leave had not been enrolled in the plan Sick leave credits shall not accumulate, and cannot be used during the year spent on leave. Pension deductions shall be continued dur...
Sample 1
AutoNDA by SimpleDocs
SALARY LEAVE PLAN. Employees on a year of Deferred Salary Leave who are members Teachers' Pension Plan must maintain participation in the Long-term Disability Insurance Plan during their period of leave. employee's Insurance Plans shall be maintained by the Board the employee's Deferred Salary Leave provided that the employee pays of the premiums as follows: of said premiums on or before the commencement date of the leave September 1st for month employees or January for month employees; and of said premiums on or before January 1st for month employees or May for month employees.
Sample 1
SALARY LEAVE PLAN. A Member who has completed at least three (3) years of continuous service under permanent status with the Board may apply for a paid leave of absence for a period of one (1) year or one (1) school year in accordance this Article. The conditions governing a paid leave of absence under this Article shall be: period of leave shall follow the savings period and be in either the third, fourth of fifth year of the plan A Member shall apply to the Manager of Human Resources for a paid leave of absence at least three (3) months prior to the requested of the savings period in plan. amount of the Member's salary that shall be held back the savings period shall be and one-third per cent (33 113%) for a leave in the third year, twenty-five per cent (25%) for a leave in the fourth and per cent (20%) for a leave the fifth ( year Members who hold ten month permanent positions and Elementary School Secretaries who hold twelve (12) month permanent positions must take a leave of absence under this Article which corresponds with the school year. All other Members must take a leave of absence of one full year which will begin on January of the calendar year The Board shall notify the Member within two (2) months of the date of application whether not the Member has been granted the paid leave of absence. All Members participating in the Plan must sign a form ofagreement approved by the Union and the Board which outlines the conditions of the leave. The salary that is held back, together with interest shall be held in trust by the Xxxxxxxx Teachers' Credit Union. During the period of leave, the Board shall pay to the Member. the amount of salary held back The method of payment during the period of leave shall be by mutual agreement of the Board and the
Sample 1
SALARY LEAVE PLAN. The Deferred Salary Leave Plan provides employees with the opportunity to take a leave of absence for a specified period of time and to finance the leave by means of salary deferral. All permanent employees having three years service with the Board are eligible to participate in the Plan. Applications for participation in the Plan should be made in writing to the Executive Officer of Human Resources on or before May for commencement of the plan to begin the following school year, if for a leave in a school year, or on or before October for commencement of the plan to begin in the following calendar year for a leave in a calendar year. Approval of individual requests to participate in the plan rests solely with the Board. In each year of the Plan preceding the year of leave, an employee will be paid a reduced percentage of salary. The remaining percentage, which shall not exceed of the employee’s annual salary, will be deferred and shall be retained by the Board to finance the year of leave. The employee shall receive credit for the amounts withheld by the Board along with accrued interest. The interest rate credited to the employee’s account shall be the current rate for the savings account at the Bank used by the Board, and be compounded and credited as per the bank’s practice. A statement of the employee’s account will be issued at the end of each year. Such a statement shall be made available upon request by the employee. While an employee is participating in the deferral period any benefits tied to salary level shall be based on the salary the employee would have received had the employee not been participating in the Plan. During the leave year, however, no credit for increment shall be granted. During the employee’s leave of absence the Board shall continue to pay its share of premium costs for any benefits which the employee elects to maintain. The employee shall be responsible for remitting share of applicable premium costs. During the employee’s leave of absence the employee shall be paid according to the method of payment outlined in Article
Sample 1
SALARY LEAVE PLAN. (a) A Teacher who has completed at least two (2) years continuous service with the Board may apply for a for one (1) year. The Board shall endeavour to grant all requests for paid leave of absence, but shall have the right to limit the number of leaves granted. The conditions governing a shall be as follows: requests for leaves under this article will be considered only for the third fourth or fifth year of the agreement. a Teacher shall apply to the Board for a paid leave of absence prior to September of the current school year, and the Board shall notify the applicant by October of the current school year. if a paid leave of absence is granted, the Board and the Teacher shall complete and sign an agreement form, a copy of which shall be given to the Local. if the leave is to be taken in the third year of the agreement then thirty-three and one-third per cent (33 of the Teacher's salary shall be held back for each of the two (2) years proceeding the year of leave. if the leave is to be taken in the fourth year of the agreement then twenty-five per cent (25 of the Teacher's salary shall be held back for each of the three (3) years proceeding the year of leave. if the leave is to be taken in the fifth year of the agreement then twenty per cent (20%) of the Teacher's salary shall be held back for each year of the four (4) years preceding the year of leave. the salary held back shall be held in trust by the Xxxxxxxx Teachers' Credit Union and shall be paid to the Teacher in the year of the leave. interest shall be paid to the Teacher in December of the year in which it is earned. The method of payment in the year of the leave shall be mutually agreed upon by the Board and the Teacher. The Board shall maintain full employee benefit coverage for the Teacher during the year of leave. Xxxx leave credits, however, shall not accumulate during the year of the leave. Pension deductions shall be in accordance with the regulations under the Ontario Teachers' Pension Plan. The plan is subject to any regulations or income tax rulings issued by the Revenue Canada. The Local shall be advised of any such rulings. If the Teacher ceases to be employed by the Board, withdraws from the agreement or dies prior to taking the leave of absence, the Board shall pay to the Teacher or the Teacher's estate the full amount of salary together with accrued interest as soon as possible. Conditions governing the return to regular duties shall be in accordance with the terms of Article of th...
Sample 1
SALARY LEAVE PLAN. 24.01 The Deferred Salary Leave Plan allows employees the opportunity of taking a one
Sample 1

Related to SALARY LEAVE PLAN

  • Deferred Salary Leave Plan 1. The Board shall administer a Deferred Salary Leave Plan as determined by a separate agreement.

  • Deferred Salary Leave Each employer ratifying this Agreement will establish or, as necessary, review and update a deferred salary leave plan consistent with Regulations issued by Canada Revenue Agency under the Income Tax Act. The parties may use the Application, Agreement, and Approval Form as a template (see Appendix H) for the deferred salary leave plan.

  • Leave Plan Effective April the Hospital agrees to introduce a leave program, funded solely by the nurse, subject to the following terms and conditions:

  • Sick Leave Plan The benefits of the Company’s Sick Leave Plan shall be considered as part of this Agreement. However, it is recognized that its provisions are not an automatic right of an employee and the administration of this plan and all decisions regarding the appropriateness or degree of its application shall be vested solely in the Company. The Company’s Sick Leave Plan will provide that probationary and regular employees will commence with a credit of eight days at 100 percent (100%) and 15 days at 75 percent (75%) pay, payable from the first day of sickness. This credit will continue to be available until the employee attains his/her first annual accumulation date as a regular employee. At the time of this accumulation date and each subsequent accumulation date he/she will acquire additional credits of eight days at 100 percent (100%) pay and 15 days at 75 percent (75%) pay. The accumulation of credits will be subject to the provisions of the Company’s Sick Leave Plan. Regular part-time employees shall receive a pro-rated number of sick days. When a regular part-time employee is absent due to illness on a scheduled day of work, they shall be paid for the hours of work scheduled for that day provided sick leave credits are available. Normally employees will be expected to arrange routine medical or dental appointments during non-working hours. Where such appointments cannot be arranged during non-working hours and the employee can be released from his/her duties, then the time shall be charged against an employee's sick leave time except in the case of medical appointments of less than half a day where normal earnings will be maintained. Employees who are on sick leave for 30 days or more may be eligible to participate in a vocational rehabilitation program in accordance with the Company’s policy. All major medical absence forms will be completed for any absence of four (4) continuous days/shifts or more or when requested by management. The Company will compensate the employee for the cost associated with completing these forms up to a maximum of $30.00. Additionally, the company will compensate the employee for the full cost of all medical notes, medical forms or medical information required to support LTD or other Wellness programs. This provision applies to Doctor’s notes requested by Line Management as part of the administration of the sick leave plan. Employees will be required to submit all forms required by management through their personal physician. Sick Leave benefits are conditional upon receipt of these forms and it is the responsibility of the employee to ensure that the employer receives these forms within a reasonable period of time. Any discipline related to sick leave that is imposed and grieved by the union will be referred directly to Xxxxxx Xxxxxxxxx for resolution.

  • ’ Compensation Leave If such determination cannot readily be made and all healthcare leave or annual leave subject to 100% payoff has been applied to the absence, the employee shall be placed on Official Leave until a final determination is made.

  • EARLY RETIREMENT INCENTIVE PLAN 1. The Board will pay an allowance to continuing contract teachers who retire from teaching in the District under the Teachers' Pension Plan, before reaching age sixty (60), subject to the following conditions: The teacher must:

  • Vacation Leave Accrual Rate Schedule Full Years of Service Hours Per Year During the first year of current continuous employment Ninety-six (96) During the second year of current continuous employment One hundred four (104) During the third and fourth years of current continuous employment One hundred twelve (112) During the fifth, sixth, and seventh years of total employment One hundred twenty (120) During the eighth, ninth, and tenth years of total employment One hundred twenty-eight (128) During the eleventh year of total employment One hundred thirty-six (136) During the twelfth year of total employment One hundred forty-four (144) During the thirteenth year of total employment One hundred fifty-two (152) During the fourteenth year of total employment One hundred sixty (160) During the fifteenth year of total employment One hundred sixty-eight (168) During the sixteenth year of total employment and thereafter One hundred seventy-six (176)

  • Vacation Leave Maximum Employees may accumulate maximum vacation leave balances not to exceed two hundred and forty (240) hours. However, there are two (2) exceptions that allow vacation leave to accumulate above the maximum:

  • Vacation Leave A part-time employee shall earn vacation leave credits for each month in which the employee receives pay for at least twice the number of hours in the employee’s normal workweek, at the rate for years of service established in clause 34.02 of this Agreement, prorated and calculated as follows:

  • Vacation Leave Accrual ‌ After a full-time employee has been in pay status for eighty (80) non-overtime hours in a calendar month, the employee will accrue vacation leave according to the rate schedule below. Vacation leave accrual for part-time employees will be proportionate to the number of hours the part-time employee is in pay status during the month to that required for full-time employment.

Time is Money Join Law Insider Premium to draft better contracts faster.